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Here’s why the Stock of Puxin Limited (NEW) is Inclining Significantly in the Pre-Market.

Puxin Limited (NEW) is a successful result-oriented educational service provider in China. The company offers a variety of K-12 and study-abroad tutoring programs. These programs help students achieve academic excellence, and prepare them for admission tests for universities both locally and internationally. One of the characteristic feature of NEWwhichdifferentiate it from other after-school education service providers in China, is thedevelopment of a business model,successfully combining strategic acquisitions and organic growth achieved through successful post-acquisition integration.

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During the regular trading session of December 10, 2021, the stock price of Puxin Limited declined significantly to $0.32 (10.6%), while at the time of writing the pre market for December 13, 2021 showed a significant rise of 22.4% ($0.39).

Events and Happenings

On Nov. 24, 2021, Puxin Limited announced that it will hold its annual general meeting of shareholders (AGM) on December 20, 2021. As reported by the NEW, the AGM will serve as an open forum to discuss Company affairs with management, for shareholders and beneficial owners of the Company’s American Depositary Shares (ADSs). No proposal will be submitted for shareholder endorsement at the AGM.

On Aug. 19, 2021, NEW proclaimed that it had received a notice from the New York Stock Exchange (NYSE) for its below compliance criteria in relation to the performance of trading price of company’s ADSs. A company is considered to be below compliance criteria if the average closing price of its security is lessthan $1.00 over a consecutive 30 trading-day period. Once notified, the company must bring its share price above $1.00 within six months after notice.To address the issue, the Company planned to monitor the market conditions of its listed securities.

Key Financials

No latest press release was observed for Puxin Limited regarding its financial statements. The financial results for the period of first quarter 2021 ended March 31, 2021 were reported on May 24, 2021 are as follows

  • Net revenue reported was $104.8 million showed a decline of 8.6% from the same quarter of 2020.
  • Net income was reported to be $5.8 million for Q1 2021.
  • Basic and diluted net income pershare was$0.06 and$0.01 respectively for Q1 2021. 

Conclusions

Although the pandemic has hit hard the educational sector and the net revenue of NEW has seen a slight decline from last years, still the management is hopeful the company is outperforming in its K-12 business. 

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