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BEIJING, May 9, 2021 /PRNewswire/ — RYB Education, Inc. (“RYB” or the “Company”) (NYSE: RYB ), a leading early childhood education service provider in China, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2020.
Impacts from COVID-19
Throughout the majority of the year, the COVID-19 pandemic caused significant disruptions to and had broad ramifications on the Company’s services and operations. In 2020, the Company temporarily closed its facilities in China from late January to late May. In late May, with the effective control of COVID-19 and easing guidelines and guidance from local governments, our facilities began a phased reopening. The Company took and continues to take prompt actions to combat the challenges, such as in-school health protocols, stringent cost control measures, and supportive measures for franchisees. By the end of the fourth quarter of 2020, all of the Company’s directly operated kindergartens and directly operated play-and-learn centers in both China and Singapore had re-opened. Over 80% of franchised play-and-learn centers have resumed normal operations as well.
Fourth Quarter 2020 Operational and Financial Summary Number of students enrolled at directly operated facilities was 34,011 as of December 31, 2020, compared with 30,806 […]