Benzinga | Sep 15, 2021 06:38AM EDT

First High-School Education Group Announces Strategic Partnership With Fuhang Capital For A Collaborative Education Fund Initiative

First High-School Education Group Co., Ltd. ("First High-School Education Group" or the "Company") (NYSE:FHS), the largest operator of private high schools in Western China and the third largest operator in China[1], today announced its wholly-owned subsidiary, First High-School Group Hong Kong Limited, has entered into a strategic partnership agreement with Sichuan Fuhang Capital Equity Investment Fund Management Co., Ltd. ("Fuhang Capital"), to collaborate in establishing an education fund (the "Fund") aiming to promote for a prosperous private high school education industry with strong regional cooperation and competitiveness.

With comprehensive educational training and development as a fundamental principle and a focus on online-merge-offline learning, or OMO learning, for an all-inclusive strategic layout, the Fund, upon establishment, aims to empower projects with high quality educational content production capabilities and cutting-edge technology.

Mr. Lidong Zhu, Senior Vice President and Chief Financial Officer of First High-School Education Group, commented: "We are excited about the expected establishment of the Fund and the impact it will bring to the education industry. Once established, the Fund will become a reliable long-term partner accompanying the growth of the education industry with full focus on education project investments."

Mr. Liyong Chen, General Manager of Fuhang Capital, added: "Once established, the Fund will be deeply involved in project operations and provide expertise and guidance to empower investment projects in depth. With the opportunities to advance and optimize high-quality education development brought by favorable policies and current private high school education services, we look forward to collaborate with First High-School Education Group in creating high-quality high school education with strong regional cooperation and competitiveness."