SHENZHEN, China, July 1, 2021 /PRNewswire/ -- Meten EdtechX
Education Group Ltd. (Nasdaq: METX) ("Meten EdtechX" or the
"Company"), one of the leading omnichannel English language
training ("ELT") service providers in China, today announced that the Company plans
to enhance its online merge offline (OMO) services for its
students. Since the beginning of 2021, the Company has completed
the online delivery of 84,000 class hours of its offline courses
through the OMO system, which contributed RMB21 million in gross billing.
OMO is an integrated learning model which combines the
advantages of the online education with those of the traditional
offline education, providing students with scale and
personalization associated with online education, and real,
effective learning experiences associated with offline education.
The OMO model can help the Company quickly recover from the
negative impact of the COVID-19 epidemic on offline businesses,
lower customer acquisition costs, and improve operational
efficiency. In addition, the OMO model can better meet the
students' various needs, enhance their sense of experience, provide
convenience for students, and increase customer retention and
satisfaction.
Since 2020, the Company has invested RMB20 million developing "dual-teacher
classroom", which is mainly used for ABC junior ELT services. The
Company carefully selected the course content and electronic
teaching aids, conducted trainings for foreign teachers, guided
them through the qualification certification process, installed
hardware equipment in the classrooms, and adopted standardized
course materials and curriculums, among others. The "dual-teacher
classroom" adopts an innovative approach to teaching, where foreign
teachers conduct live stream teaching with the help of advanced
Internet technology. "Dual-teacher classroom" learning integrates
online and offline teaching, which greatly improves the teaching
quality of foreign teachers and enhances the learning experience of
students.
Currently, the Company has independent online and offline
products. It plans to launch new offline and online integrated
products (OMO products, such as the "dual-teacher classroom"),
which is expected to bring new growth points for the company in the
future. In 2021, the Company expects to continue implementing the
OMO strategy to benefit a wider group of students. With a
significant improvement in operational efficiency of the
"dual-teacher classrooms", the Company can save an estimate of 25%
teaching costs of foreign teachers.
About Meten EdtechX
Meten EdtechX is one of the leading ELT service providers in
China, delivering English language
and skills training for Chinese students and professionals. Through
a sophisticated digital platform and a 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). The
Company offers superior teaching quality and student satisfaction,
served 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 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 brands;
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:
Ascent Investor Relations LLC
Tina Xiao
+1 917-609-0333
tina.xiao@ascent-ir.com
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SOURCE Meten EdtechX Education Group Ltd.