First High-School Education Group (FHS) Receives NYSE Non-Compliance Letter

First High-School Education Group Co., Ltd. (NYSE: FHS) today announced that it has received a letter (the "Letter") from the New York Stock Exchange dated June 21, 2022, notifying the Company that it is below compliance standards due to the trading price of the Company's American depositary shares (the "ADSs") and that the applicable cure period for the Company to regain compliance expires on December 21, 2022.

Pursuant to applicable NYSE continued listing standards, a company would be considered "below criteria" by the NYSE if the average closing price of a security as reported on the consolidated tape is less than $1.00 over a consecutive 30 trading-day period. Once notified, the company must bring its ADS trading price and average ADS trading price back above $1.00 within the applicable cure period following receipt of the notification. The company can regain compliance at any time during the cure period if on the last trading day of any calendar month during the cure period the company has an ADS closing price of at least $1.00 and an average ADS closing price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month. In the event that at the expiration of the cure period, both a $1.00 ADS closing price on the last trading day of the cure period and a $1.00 average ADS closing price over the 30 trading-day period ending on the last trading day of the cure period are not attained, the NYSE will commence suspension and delisting procedures.

To address this issue, the Company intends to monitor the market conditions of its listed securities and is still considering its options.

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