Investigation announced for Investors in First High-School Education Group Co., Ltd. (NYSE: FHS) over potential Wrongdoing

An investigation was announced over potential breaches of fiduciary duties by certain directors at First High-School Education Group Co., Ltd.

Investors who purchased shares of First High-School Education Group Co., Ltd. (NYSE: FHS) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain First High-School Education Group Co directors breached their fiduciary duties and caused damage to the company and its shareholders.

China based First High-School Education Group Co., Ltd. operates private high schools in Western China. First High-School Education Group Co., Ltd. reported that its annual Total Revenue rose from 366.51 million CNY in 2019 to 445.83 million CNY in 2020, and that its Net Income increased from 31.60 million CNY in 2019 to 80.81 million CNY in 2020.

On or around March 11, 2021, First High-School Education Group Co., Ltd. conducted its initial public offering, issuing 7.5 million American depository shares ("ADSs") priced at $10.00 per ADS.
Then, on September 28, 2021, First High-School Education Group announced its first half of 2021 unaudited financial results, including, among other results, gross profit of RMB62.3 million (US$9.6 million), a decrease of 3.6% from RMB64.6 million in the first half of 2020; a net loss of RMB3.8 million (US$0.6 million), compared to a net income of RMB31.9 million in the first half of 2020, which was "primarily incurred by certain non-recurring expenses"; and adjusted net income (Non-GAAP) of RMB11.2 million (US$1.7 million), a decrease of 64.9% from RMB31.9 million in the first half of 2020.

Shares of First High-School Education Group Co., Ltd. (NYSE: FHS) declined to as low as $1.05 per share on March 15, 2022.

Those who purchased shares of First High-School Education Group Co., Ltd. (NYSE: FHS) have certain options and should contact the Shareholders Foundation.

Contact:
Christopher Clausen
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.