BEIJING, Nov. 10, 2020 /PRNewswire/ -- Ambow Education Holding Ltd. ("Ambow" or the "Company") (NYSE American: AMBO), a leading national provider of educational and career enhancement services in China, today announced that it has been awarded a national patent for its self-developed AI Panorama Digital Teaching System ("Panorama System" or the "System").
The Panorama System creates an immersive hybrid classroom model capable of integrating multiple cloud-based terminals with AI-enabled interaction. Empowered by real-time holographic imaging technology, the System provides a highly integrated, immersive and interactive learning environment where students can interact with instructors using 1:1 scale images. With its strong technological capacity to reshape online education and elevate teaching quality, the System has already been granted a series of patents in Taiwan and the U.S. In the wave of the Internet Plus era, the System is a pioneer in the revolution of online education.
Ambow is among the first group of Chinese enterprises engaging in independent research and development of intelligent education products. With strong talent and deep roots in innovation, Ambow's R&D team has a proven record of delivering cutting-edge educational tools and services. In recent years, Ambow has focused on core technology patents surrounding its main businesses, such as those used in its Panorama System, its intelligent office application system and its intelligent manufacturing automation training system. In 2020, Ambow has already been approved and authorized in mainland China for 20 utility model patents and one design patent, and has 29 domestic invention patents under public announcement process. In addition, Ambow has submitted applications for four U.S. patents and four Taiwan patents, of which, to date, one utility model patent from Taiwan has been awarded. It is worth noting that Ambow was one of the first Chinese educational institutions to be awarded a US patent. In 2016, the United States Patent and Trademark Office awarded a patent to Ambow for its innovative Adaptive Computer-Assisted Learning System and Method platform for enhancing learning outcomes.
Dr. Jin Huang, President and Chief Executive Officer of Ambow, commented, "We will continuously deepen our research and development capabilities to deliver the highest quality educational services to businesses and consumers through intelligent systems utilizing AI technology. With our massive user base, we are ideally suited to promote, facilitate and bring about the adoption of advanced technology education models on a large scale."
About Ambow Education Holding Ltd.
Ambow Education Holding Ltd. is a leading national provider of educational and career enhancement services in China, offering high-quality, individualized services and products. With its extensive network of regional service hubs complemented by a dynamic proprietary learning platform and distributors, Ambow provides its services and products to students in 15 out of the 34 provinces and autonomous regions within China.
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Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the outlook and quotations from management in this announcement, as well as Ambow's strategic and operational plans, contain forward-looking statements. Ambow may also make written or oral forward-looking statements in its reports filed or furnished to the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statements, including but not limited to the following: the Company's goals and strategies, expansion plans, the expected growth of the content and application delivery services market, the Company's expectations regarding keeping and strengthening its relationships with its customers, and the general economic and business conditions in the regions where the Company provides its solutions and services. Further information regarding these and other risks is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and Ambow undertakes no duty to update such information, except as required under applicable law.
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