SHENZHEN, China, Dec. 29, 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 its overseas training services was accredited as the “2020-2021 Most Famous Brand in the International Education Industry” by the Overseas Education Research Center of the China Education Think Tank Alliance, the Development Research Committee of Overseas Education Institutions (DRCOOT) and the National Academic Alliance of International Education Teachers (NAAIET) on Dec 16, 2020.
Overseas training services is a test-oriented ELT product launched by the Company that is mainly designed for students who plan to take international standardized tests, including, but not limited to, IELTS, TOEFL, SAT and ACT. Through intelligent analysis and evaluation system, overseas training services provides systematic teaching, training and comprehensive learning tracking service to students which stimulates students' learning motivation, cultivates students' 5 major habits of studying abroad, and helps students to achieve a solid academic improvement.
In addition to international standard test preparation , overseas training services team also provides overseas study application services for students going to the United Kingdom, the United States, Australia, Canada, and Hong Kong, including providing students with school selection, overseas study and living, and add on value for soft strength.
The Company will optimize and upgrade its current overseas training services to increase the diversity of its services, including, but not limited to, upgrading the products for middle school students, launching career and internship planning services and providing career consulting services which may enable students to overcome difficulties in improving scores, choosing majors and continuing to obtain higher education.
Assuming no resurgence of the COVID-19 pandemic in China, and taking into account recent positive developments relating to COVID-19 vaccines and the continuous recovery of China’s economy, the Company expects student enrollment of overseas study application services will gradually return to pre-pandemic levels in the second and the third quarter of 2021. It also targets the gross billing of overseas study application services to reach approximately RMB10 million in 2021, representing about 100% increase compared with 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