Meten EdtechX was Accredited as the “2020 – 2021 Most Famous Brand in the International Education Industry”
December 29 2020 - 8:30AM
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
136-5142-6060wendy_wsr@meten.com
Ascent Investor Relations LLCTina Xiao+1
917-609-0333tina.xiao@ascent-ir.com
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