SHENZHEN, China, Dec. 22, 2020 (GLOBE NEWSWIRE) -- Meten EdtechX Education Group Ltd. (Nasdaq: METX) (“Meten EdtechX” or the “Company”), a leading omnichannel English language training (“ELT”) service provider in China, today announced that the Company, through its online ELT platform, “Likeshuo”, had generated over RMB10 million in gross billings during the 12-day “Double 12” nationwide promotion activity on Tmall.com from December 1 to December 12, 2020.
As previously disclosed, “Likeshuo” remained the No. 1 ELT sales[1] among all language training service providers who participated in the “Singles’ Day” nationwide promotion activity on Tmall.com for three consecutive years in terms of gross billings. During the11-day “Singles’ Day” nationwide promotion activity from November 1 to November 11, 2020, “Likeshuo” generated more than RMB8 million in gross billings.
In response to the COVID-19 pandemic, many Chinese consumers have been changing their shopping habits, switching from offline shopping to online shopping. Platforms with strong exposure, fast dissemination, and high user stickiness have become key players in the PRC education industry. The Company is actively developing new marketing strategies and has successfully cooperated with top-tier celebrities in the PRC for livestream promotion of “Likeshuo”. As a result, the Company has achieved significant gross billings during entire “Double 12” nationwide promotion activity.
In addition to promoting through livestreaming involving celebrities, "Likeshuo" is also continuously developing marketing approaches through various third-party channels such as TikTok, WeChat and other short video platforms to quickly seize the traffic entrance through targeted content delivery and efficiently acquiring customers. Currently, the cumulative topic views of “Likeshuo” on TikTok have exceeded 10 million.
Relying on the Company’s powerful omnichannel platform and brand resources, we have been constantly improving “Likeshuo”’s competitive strengths. It has been well recognized by the education industry, which had successfully entered the "Learning with Guarantee" channel of Taobao Education. As the No. 1 ELT brand on Tmall.com, "Likeshuo" launched the "One-on-one oral English tutor for adults" and "LikeABC" courses, which have become the recommended courses of the "Stressless Learning" section in the "Learning with Guarantee" channel.
[1] Ranking based on gross billings from November 1 to November 11, 2020
About Meten EdtechX
Meten EdtechX is a leading ELT service provider in China, delivering English language and future skills training for Chinese students and professionals. Through a sophisticated digital platform and nationwide network of learning centers, the Company provides its services under three industry-leading brands: Meten (adult and junior ELT services), ABC (primarily junior ELT services) and Likeshuo (online ELT). It offers superior teaching quality and student satisfaction, which are underpinned by cutting edge technology deployed across its business, including AI-driven centralized teaching and management systems that record and analyze learning processes in real time.
The Company is committed to improving the overall English language competence and competitiveness of the Chinese population to keep abreast of the rapid development of globalization. Its experienced management is focused on further developing its digital platform and expanding its network of learning centers to deliver a continually evolving service offerings to a growing number of students across China.
For more information, please visit: https://investor.metenedu-edtechx.com.
Safe Harbor Statement
This announcement contains forward-looking statements that involve risks and uncertainties. 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. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the impact of the COVID-19 outbreak, our ability to attract students without a significant decrease in course fees; our ability to continue to hire, train and retain qualified teachers; our ability to maintain and enhance our “Meten” brand; our ability to effectively and efficiently manage the expansion of our school network and successfully execute our growth strategy; the outcome of ongoing, or any future, litigation or arbitration, including those relating to copyright and other intellectual property rights; competition in the English language training sector in China; changes in our revenues and certain cost or expense items as a percentage of our revenues; the expected growth of the Chinese English language training and private education market; Chinese governmental policies relating to private educational services and providers of such services; health epidemics and other outbreaks in China; and general economic conditions in China. Further information regarding these and other risks is included in our annual report on Form 20-F and other documents filed with the Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no duty to update such information, except as required under applicable law.
For investor and media inquiries, please contact:
Meten EdtechX
Wendy Wang
+86 136-5142-6060
wendy_wsr@meten.com
Ascent Investor Relations LLC
Tina Xiao
+1 917-609-0333
tina.xiao@ascent-ir.com