17 Education & Technology Group Inc. Announces Changes to Board and Committee Compositions

BEIJING, Dec. 02, 2021 (Globe NEWSWIRE) — 17 Education & Engineering Team Inc. (Nasdaq: YQ) (“17EdTech” or the “Company”), a major education and learning know-how company in China with an “in-school + just after-school” built-in design, declared nowadays that Mr. Minghui Wu has been appointed as a new independent director to the Company’s board of directors (the “Board”), successful on December 2, 2021. Just after the modifications, the Board will consist of 7 directors, 3 of whom are impartial directors.

Concurrent with the appointment of Mr. Wu, the Board has authorised to even more update the composition of the Board’s committees in furtherance of very good company governance. The Board’s a few committees will be totally independent with composition set forth underneath:

Audit Committee

Chair: Bing Yuan
Associates: Jiawei Gan, Minghui Wu

Nominating and Company Governance Committee

Chair: Jiawei Gan
Associates: Bing Yuan, Minghui Wu

Payment Committee

Chair: Minghui Wu
Users: Bing Yuan, Jiawei Gan

Mr. Wu is chairman and CEO of MiningLamp Know-how Co Ltd. (“Mining Lamp”), a foremost artificial intelligence (“AI”) and information analytics firm he established in 2014 that allows community service organizations and organizations with digital transformation. Prior to founding MiningLamp, Mr. Wu established Miaozhen Methods in 2006, a platform for internet consumer conduct and promoting analytics, and served as its chairman until finally it was obtained by Mining Lamp in 2019.

Mr. Wu is also a joint creator of the HAO AI theoretical framework. Mr. Wu has 20 years of encounter in program engineering and investigation, and retains a lot more than 130 patents in China and internationally.

Mr. Wu acquired a B.S. degree in elementary mathematics and a M.S. degree in personal computer application and idea from Peking College. Mr. Wu is currently a PhD applicant at the Faculty of Software program & Microelectronics at Peking University.

About 17 Education and learning & Technological know-how Group Inc.

17 Instruction & Technological know-how Team Inc. is a foremost instruction technological know-how firm in China with an “in-faculty + soon after-school” built-in product. The Enterprise gives a sensible in-university classroom option that provides info-pushed instructing, learning and assessment solutions to instructors, college students and mothers and fathers, covering more than 70,000 K-12 educational institutions in 2020.

Leveraging the Company’s in-school management, 17EdTech presents on line K-12 substantial-course following-faculty tutoring providers that complement students’ in-college understanding. Run by its integrated product and technologies, 17EdTech’s on-line K-12 huge-course immediately after-school tutoring courses stand out in terms of its exclusive approach to personalization, realized as a result of a information-driven knowing of particular person students’ in-college effectiveness, as very well as district-level localized insights.

Harmless Harbor Assertion

This announcement is made up of forward-on the lookout statements. These statements are produced less than the “safe harbor” provisions of the United States Non-public Securities Litigation Reform Act of 1995. These ahead-seeking statements can be recognized by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical points, which includes statements about 17EdTech’s beliefs and anticipations, are ahead-searching statements. 17EdTech may well also make prepared or oral forward-on the lookout statements in its periodic stories to the SEC, in its once-a-year report to shareholders, in press releases and other published products and in oral statements built by its officers, administrators or staff members to 3rd events. Ahead-searching statements entail inherent challenges and uncertainties. A range of factors could lead to actual results to vary materially from all those contained in any forward-searching statement, which include but not constrained to the adhering to: 17EdTech’s growth methods its potential business advancement, fiscal situation and results of operations its ability to carry on to bring in and retain people, change non-spending users into spending users and raise the paying out of shelling out people, the traits in, size of, and suitable authorities insurance policies and laws relating to China’s on the web education market place its anticipations pertaining to need for, and sector acceptance of, its merchandise and companies its anticipations regarding its relationships with company partners common economic and company problems and assumptions underlying or connected to any of the foregoing. Further more facts about these and other threats is provided in 17EdTech’s filings with the SEC. All information delivered in this push release is as of the day of this push release, and 17EdTech does not undertake any obligation to update any ahead-wanting assertion, besides as needed underneath applicable legislation.

For investor and media inquiries, make sure you contact:

17 Schooling & Technological know-how Team Inc.
Mr. Raymond Huang
E-mail: [email protected]

In China
Mr. Eric Yuan
Cellphone: +86-138-0111-0739
E-mail: [email protected]

Ms. Linda Bergkamp
Cell phone: +1-480-614-3004
E-mail: [email protected]