Meten EdtechX Announces Change of Auditor
January 06 2021 - 4:30PM
Meten EdtechX Education Group Ltd. (Nasdaq: METX) (“Meten EdtechX”
or the “Company”), a leading English language training (“ELT”)
service provider in China, today announced the appointment of Audit
Alliance LLP (“Audit Alliance”) as the Company’s independent
auditor [effective on January 7, 2021].
Audit Alliance replaces KPMG Huazhen LLP (“KPMG”), previously
the independent auditor for the Company. The appointment of Audit
Alliance was made after a careful and thorough evaluation process
and has been recommended for approval by the audit committee of the
board (the “Board”) of directors of the Company, and approved by
the Board on December 29, 2020.
The consolidated financial statements of the Company and its
subsidiaries as of and for the period from September 27, 2019
(inception) to December 31, 2019 and the consolidated financial
statements of the Meten International Education Group and its
subsidiaries as of as of December 31, 2018 and 2019 did not contain
any adverse opinion or disclaimer of opinion, nor were they
qualified or modified as to uncertainty, audit scope or accounting
principles. The decision to change independent auditor was not the
result of any disagreement between the Company and KMPG on any
matter of accounting principles or practices, financial statement
disclosure, or auditing scope or procedure.
The Company is working closely with Audit Alliance and KPMG to
ensure a seamless transition.
The Board would like to take this opportunity to express its
sincere gratitude to the KPMG team for their professionalism and
quality of services rendered to the Company over the past
years.
For investor and media enquiries, please
contact:Ascent Investor Relations LLCTina
XiaoTel: +1 917-609-0333Email: tina.xiao@ascent-ir.com
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 about Meten EdtechX, 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.
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