RISE Education Receives Decision from the Nasdaq Hearings Panel for Conditional Continued Listing

BEIJING, March 10, 2022 /PRNewswire/ -- RISE Education Cayman Ltd (NASDAQ: REDU) (the "Company") announced today that it received a letter from the Nasdaq Stock Market LLC informing it of a favorable decision from the Nasdaq Hearings Panel to grant the Company's request for continued listing on the Nasdaq Stock Market through June 30, 2022, subject to certain conditions, which include that on or before the same date, the Company shall have completed the previously announced proposed business combination with Dada Auto Inc. ("NaaS"), a leading operation and technology provider serving China's electric vehicle charging market, evidenced compliance with all applicable initial listing criteria for The Nasdaq Capital Market as required by Listing Rule 5505, and achieved other interim milestones with respect to obtaining shareholder approval of the business combination and completing financial audits of both the Company and NaaS by a specified date. The Company thanks the Nasdaq Stock Market and intends to comply with the aforementioned conditions.

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