China
11:55, 25-Nov-2017
Beijing nursery CEO apologizes 'deeply' amid claims of child abuse
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The CEO of a privately owned nursery in Beijing apologized “deeply" on Friday night for the “severe disquiet” caused by accusations of child abuse at the school.
The nursery, a branch of the well-known RYB (Red Yellow Blue) Education chain, is alleged to have given injections and pills or syrup to the toddlers before naptime earlier in the week. Three teachers have since been suspended.
“If any wrongdoing is found, we will not shirk the responsibility,” CEO Shi Yanlai said during a phone conference.
Shi Yanlai, the CEO of RYB (Red Yellow Blue) Education /Photo via Internet
Shi Yanlai, the CEO of RYB (Red Yellow Blue) Education /Photo via Internet
The official Xinhua news agency reported late on Thursday that police were investigating the case.
Shi said the nursery had been told by the police that the result of the investigation may have been available later on Friday but so far nothing has been made public.
The security system would be upgraded, she said, but CFO Wei Ping said at a subsequent Q&A session that the company's business model would not change.
The nursery in Beijing is a branch of the well-known RYB (Red Yellow Blue) Education chain. /Photo via Internet
The nursery in Beijing is a branch of the well-known RYB (Red Yellow Blue) Education chain. /Photo via Internet
A kindergarten supervision advisory group consisting of experts on school supervision and education will conduct checks across the country next week, following an urgent order by State Council’s Education Supervision Commission.
The incident has delivered another shock to Chinese weeks after a Shanghai childcare center was alleged to have abused several toddlers.
Intense outcry and anxieties over childcare standards in China were reignited by a viral online video showing angry people outside the kindergarten in Beijing's Chaoyang district.
The nursery is located in Beijing's Chaoyang District. /Photo via Internet
The nursery is located in Beijing's Chaoyang District. /Photo via Internet
Chinese education providers have been attracting major investment, while others have been looking for global listings, latching onto fast-rising demand from Chinese parents for high-end education services for their kids.
RYB Education was listed on the New York Stock Exchange in September. However, its stock plunged by 39.07 percent to 16.28 US dollars at 1440 GMT on Friday, below the issue price of 18.5 US dollars.
Experts told bjnews.com that the scandal surely exerted negative effects on RYB’s stock prices, but there might be a chance of going short.