Exhibit 99.1

Ambow Education Announces Third Quarter 2018 Financial Results

BEIJING, November 26, 2018 -- 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 its unaudited financial and operating results for the three-month and nine-month periods ended September 30, 2018.

Third Quarter 2018 Financial Highlights

· Net revenues for the third quarter of 2018 increased by 10.6% to US$15.7 million from US$14.2 million in the same period of 2017. This increase was due primarily to revenues from Boston-based Bay State College (“BSC”) (acquired in November 2017) and higher student enrollment for the 2018-2019 academic year in the Company’s K-12 schools.

· Gross profit for the third quarter of 2018 was US$4.3 million, compared with US$4.2 million for the same period of 2017. Gross profit margin was 27.4% for the third quarter of 2018, compared to 29.6% in the same period of 2017. The decrease in gross profit margin was primarily attributable to lower profit margin at BSC, as the Company is in the process of consolidating its business operations.

· Operating expenses in the third quarter of 2018 decreased by 13.0% to US$6.0 million from US$6.9 million for the same period of 2017. Operating expenses as a percentage of net revenues for the quarter decreased to 38.2% from 48.6% in the same period of 2017.

· Operating loss in the third quarter of 2018 decreased by 37.0% to US$1.7 million from US$2.7 million for the same period of 2017.

· Net loss attributable to ordinary shareholders for the third quarter of 2018 was US$1.8 million, or US$0.04 per basic and diluted share, compared with a net income of US$2.6 million for the third quarter of 2017, or US$0.07 per basic and diluted share, as a one-time gain of US$5.7 million from the sale of subsidiaries was recorded in the prior-year quarter.

· As of September 30, 2018, Ambow maintained strong cash resources of US$62.1 million, comprised of cash and cash equivalents of US$30.5 million, short-term investments of US$27.2 million, and restricted cash of US$4.4 million.

· As of September 30, 2018, the Company’s deferred revenue balance was US$24.4 million, representing a 38.6% increase from US$17.6 million as of December 31, 2017, mainly attributable to tuition and course fees collected in the K-12 business segment for the 2018-2019 academic year, and tuition and fees collected at BSC for the fall semester of 2018.

First Nine Months 2018 Financial Highlights

· Net revenues for the first nine months of 2018 increased by 17.3% to US$52.8 million from US$45.0 million in the first nine months of 2017, due primarily to revenues from BSC and higher student enrollment for both 2017-2018 and 2018-2019 academic years in the Company’s K-12 schools.

· Gross profit for the first nine months of 2018 increased by 7.0% to US$19.9 million from US$18.6 million in the first nine months of 2017. Gross profit margin was 37.7%, compared to 41.3% in the same period of 2017. The decrease in gross profit margin was primarily attributable to lower profit margin at BSC, as the Company is in the process of consolidating its business operations.

· Operating expenses for the first nine months of 2018 were US$19.0 million, an 8.2% decrease from US$20.7 million in the same period of 2017. Operating expenses as a percentage of net revenues for the period decreased to 36.0% from 46.0% in the same period of 2017.

· Operating income in the first nine months of 2018 was US$0.8 million, compared with an operating loss of US$2.1 million for the same period of 2017.

· Net income attributable to ordinary shareholders for the first nine months of 2018 was US$2.0 million, or US$0.05 per basic and diluted share, compared with a net income of US$3.7 million for the first nine months of 2017, or US$0.10 per basic and diluted share, as a one-time gain of US$5.7 million from the sale of subsidiaries was recorded in the prior-year period.

Dr. Jin Huang, Ambow’s President and Chief Executive Officer, commented, “We are pleased with the results achieved during this seasonally slow quarter, as they continue to demonstrate our solid growth trajectory. Both of our primary revenue streams, Better Schools and Better Jobs, continued to show strong growth with 6% and 43% year-over-year increases, respectively. Notably in the third quarter, deferred revenue grew 39% to US$24.4 million from the prior year period. This significant increase positions us well for near-term growth.

“During the third quarter, we also focused heavily on further differentiating our education services through our enhanced collaboration with schools and corporations and our increasing library of cutting-edge curriculum offerings and training programs. With our industry-leading experience, Ambow is uniquely positioned to play an integral role in addressing the gap between supply and demand for job-ready talent, in particular, helping career universities/colleges prepare students for the booming IT and technology-driven upgrades happening across nearly all industries. We’re on track with implementation of our new cross-border college/university model through deepened integration with Bay State College.

“With the tuition fees from Bay State College contributing significantly to Ambow’s revenue throughout 2018, we also incorporated the transition expenses related to this acquisition into our financial results, which has pressured our margins. However, with our strong cost control effort, we’ve been able to deliver improved operating leverage to largely offset this pressure. Our results were favorably impacted by the meaningful reduction in both operating expenses and operating expenses as a percentage of net revenues on a year-over-year basis in the third quarter and the first nine months of 2018, as well as a 23% decrease in general and administrative expenses in the third quarter of 2018 compared with the same period in 2017.

“Looking forward, we anticipate continued improvements in Ambow’s overall operating performance, which will include the introduction of new revenue-generating program. We are committed to increasing enrollments across all Ambow programs while maintaining stringent cost controls, and we are confident in our ability to accelerate profitable growth and strengthen our leadership position in the career enhancement market in China.”

The Company's third quarter 2018 financial and operating results can also be found on its Form 6-K filed with the U.S. Securities and Exchange Commission at www.sec.gov.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all amounts translated from RMB to U.S. dollars for the third quarter and the first nine months of 2018 are based on the effective exchange rate of 6.8680 as of September 28, 2018; all amounts translated from RMB to U.S. dollars for the third quarter and the first nine months of 2017 are based on the effective exchange rate of 6.6533 as of September 29, 2017. The exchange rates were according to the middle rate as set forth in the H.10 statistical release of the U.S. Federal Reserve Board.

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 30 out of the 31 provinces and autonomous regions within China.

Follow us on Twitter: @Ambow_Education

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.

For investor and media inquiries please contact:

Ambow Education Holding Ltd.

Tel: +86 10-6206-8000

The Piacente Group | Investor Relations

Tel: +1 212-481-2050 or +86 10-5730-6200

Email: ambow@tpg-ir.com

AMBOW EDUCATION HOLDING LTD.

UNAUDITED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands, except for share and per share data)

	As of September 30,						As of December 31,
	2018						2017
	US$			RMB			RMB
ASSETS
Current assets:
Cash and cash equivalents		30,457			209,177			195,303
Restricted cash		4,373			30,035			2,350
Short term investments, available for sale		7,581			52,067			128,042
Short term investments, held to maturity		19,656			135,000			93,000
Accounts receivable, net		4,524			31,069			24,511
Amounts due from related parties		102			701			-
Prepaid and other current assets, net		19,730			135,505			129,517
Loan receivable, current		6,214			42,677			-
Total current assets		92,637			636,231			572,723
Non-current assets:
Property and equipment, net		23,544			161,701			168,423
Land use rights, net		264			1,815			1,848
Intangible assets, net		13,608			93,457			96,769
Goodwill		10,653			73,166			73,166
Deferred tax assets, net		1,538			10,566			8,222
Long-term loan receivables		-			-			42,677
Other non-current assets, net		1,828			12,555			13,592
Total non-current assets		51,435			353,260			404,697
Total assets		144,072			989,491			977,420
LIABILITIES
Current liabilities:
Deferred revenue  *		24,437			167,836			114,396
Accounts payable  *		1,874			12,869			23,414
Accrued and other liabilities  *		47,373			325,357			418,998
Borrow from third party, current		6,010			41,275			-
Income taxes payable  *		30,000			206,039			202,314
Amounts due to related parties  *		499			3,430			3,430
Total current liabilities		110,193			756,806			762,552
Non-current liabilities:
Long-term borrowings from third party		-			-			39,205
Consideration payable for acquisitions		985			6,766			6,766
Other non-current liabilities		197			1,350			2,938
Total non-current liabilities		1,182			8,116			48,909
Total liabilities		111,375			764,922			811,461
EQUITY
Preferred shares
(US$ 0.003 par value;1,666,667 shares authorized, nil issued and outstanding as of September 30, 2018 and December 31, 2017)		-			-			-
Class A Ordinary shares
(US$0.003 par value; 66,666,667 and 66,666,667 shares authorized, 34,206,939 and 38,436,668 shares issued and outstanding as of December 31, 2017 and September 30, 2018, respectively)		105			721			640
Class C Ordinary shares
(US$0.003 par value; 8,333,333 and 8,333,333 shares authorized, 4,708,415 and 4,708,415 shares issued and outstanding as of December 31, 2017 and September 30, 2018, respectively)		13			90			90
Additional paid-in capital		509,846			3,501,623			3,456,307
Statutory reserve		2,917			20,036			20,036
Accumulated deficit		(480,908	)		(3,302,878	)		(3,316,715	)
Accumulated other comprehensive income		1,186			8,147			6,876
Total Ambow Education Holding Ltd.’s equity		33,159			227,739			167,234
Non-controlling interests		(462	)		(3,170	)		(1,275	)
Total equity		32,697			224,569			165,959
Total liabilities and equity		144,072			989,491			977,420

*  All of the VIE's assets can be used to settle obligations of their primary beneficiary. Liabilities recognized as a result of consolidating these VIEs do not represent additional claims on the Company's general assets.

AMBOW EDUCATION HOLDING LTD.

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

(All amounts in thousands, except for share and per share data)

	For the nine months ended September 30,									For the three months ended September 30,
	2018			2018			2017			2018			2018			2017
	US$			RMB			RMB			US$			RMB			RMB
NET REVENUES
Educational program and services		51,897			356,429			291,069			15,613			107,227			85,690
Intelligent program and services		879			6,034			8,656			37			251			8,656
Total net revenues		52,776			362,463			299,725			15,650			107,478			94,346
COST OF REVENUES
Educational program and services		(32,177	)		(220,991	)		(169,661	)		(11,171	)		(76,723	)		(60,541	)
Intelligent program and services		(755	)		(5,188	)		(6,059	)		(184	)		(1,266	)		(6,059	)
Total cost of revenues		(32,932	)		(226,179	)		(175,720	)		(11,355	)		(77,989	)		(66,600	)
GROSS PROFIT		19,844			136,284			124,005			4,295			29,489			27,746
Operating expenses:
Selling and marketing		(4,654	)		(31,967	)		(28,205	)		(1,855	)		(12,740	)		(9,015	)
General and administrative		(14,105	)		(96,872	)		(105,014	)		(4,036	)		(27,717	)		(34,673	)
Research and development		(240	)		(1,647	)		(4,653	)		(119	)		(820	)		(1,941	)
Total operating expenses		(18,999	)		(130,486	)		(137,872	)		(6,010	)		(41,277	)		(45,629	)
OPERATING INCOME (LOSS)		845			5,798			(13,867	)		(1,715	)		(11,788	)		(17,883	)
OTHER INCOME (EXPENSES)
Interest income		781			5,367			4,010			246			1,691			1,267
Foreign exchange gain, net		22			154			740			3			19			739
Other income (loss), net		75			517			(16	)		(59	)		(408	)		893
Gain on disposal of subsidiaries		-			-			38,145			-			-			38,145
Gain from deregistration of subsidiaries		469			3,220			-			-			-			-
Gain on sale of investment available for sale		111			759			4,720			40			275			151
Total other income		1,458			10,017			47,599			230			1,577			41,195
INCOME (LOSS) BEFORE INCOME TAX AND NON-CONTROLLING INTEREST		2,303			15,815			33,732			(1,485	)		(10,211	)		23,312
Income tax expense		(282	)		(1,939	)		(8,999	)		(308	)		(2,113	)		(4,990	)
NET INCOME (LOSS)		2,021			13,876			24,733			(1,793	)		(12,324	)		18,322
Less: Net income (loss) attributable to non-controlling interest		6			39			(200	)		13			89			912
NET INCOME (LOSS) ATTRIBUTABLE TO ORDINARY SHAREHOLDERS		2,015			13,837			24,933			(1,806	)		(12,413	)		17,410
NET INCOME (LOSS)		2,021			13,876			24,733			(1,793	)		(12,324	)		18,322
OTHER COMPREHENSIVE INCOME, NET OF TAX
Foreign currency translation adjustments		182			1,252			981			(73	)		(501	)		685
Unrealized gains on short term investments
Unrealized holding gains arising during period		65			446			1,506			10			66			755
Less: reclassification adjustment for gains included in net income		62			427			2,690			26			180			50
Other comprehensive income (loss)		185			1,271			(203	)		(89	)		(615	)		1,390
TOTAL COMPREHENSIVE INCOME (LOSS)		2,206			15,147			24,530			(1,882	)		(12,939	)		19,712
Net income (loss) per share – basic		0.05			0.34			0.64			(0.04	)		(0.29	)		0.45
Net income (loss) per share - diluted		0.05			0.34			0.63			(0.04	)		(0.29	)		0.44
Weighted average shares used in calculating basic net income (loss) per share		40,697,965			40,697,965			38,803,676			43,125,614			43,125,614			38,826,232
Weighted average shares used in calculating diluted net income (loss) per share		41,025,566			41,025,566			39,310,607			43,125,614			43,125,614			39,298,522

Discussion of Segment Operations

	For the nine months ended September 30,									For the three months ended September 30,
	2018			2018			2017			2018			2018			2017
	US$			RMB			RMB			US$			RMB			RMB
	(All amounts in thousands)
NET REVENUES
Better Schools		31,012			212,992			196,746			8,103			55,653			50,861
Better Jobs		20,885			143,437			94,323			7,510			51,574			34,829
Others		879			6,034			8,656			37			251			8,656
Total net revenues		52,776			362,463			299,725			15,650			107,478			94,346
COST OF REVENUES
Better Schools		(19,132	)		(131,397	)		(124,692	)		(6,198	)		(42,570	)		(39,317	)
Better Jobs		(13,045	)		(89,594	)		(44,969	)		(4,973	)		(34,153	)		(21,224	)
Others		(755	)		(5,188	)		(6,059	)		(184	)		(1,266	)		(6,059	)
Total cost of revenues		(32,932	)		(226,179	)		(175,720	)		(11,355	)		(77,989	)		(66,600	)
GROSS PROFIT
Better Schools		11,880			81,595			72,054			1,905			13,083			11,544
Better Jobs		7,840			53,843			49,354			2,537			17,421			13,605
Others		124			846			2,597			(147	)		(1,015	)		2,597
Total gross profit		19,844			136,284			124,005			4,295			29,489			27,746