SHENZHEN, China, May 20, 2022
/PRNewswire/ -- Meten Holding Group Ltd. ("Meten Holding Group" or
the "Company") (NASDAQ: METX), an omnichannel training company
headquartered in China providing
language and workplace training services and actively developing
metaverse, blockchain and cryptocurrency mining businesses, today
announced that the Company plans to launch Chinese as foreign
language education program (the "Program") globally in early June
2022.
Teaching Chinese as a foreign language is a subject involving
comprehensive and interdisciplinary research, including basic
theoretical research and applied language teaching. The Program
aims to better promote the learning and development of Chinese
language education as a foreign language and make distinctive
contributions to promoting the Chinese language in countries along
the Belt and Road Initiative including Malaysia, Indonesia, Thailand, the
Philippines, Vietnam in
Southeast Asia, UAE, Qatar, Kuwait, Saudi
Arabia in West Asia, and
Serbia, Poland, Czech Republic, Croatia in Central and Eastern Europe, etc.
The Company intends to use an online platform with an
asset-light business model to build a global online learning
platform with the goal to achieve the localization and growth of
educational services. Combining the experience in professional
teaching with AI technology, the Company aims to provide
personalized services to meet the unique learning needs of
students. To achieve the educational service scale growth, the
Company plans to integrate and leverage the resources of foreign
teachers and collaboration channels that have been deeply
cultivated for the English training market for many years and adopt
a low-cost and high-penetration model to promote Chinese training
programs.
The market for Chinese as foreign language education programs
enters into a new stage of rapid growth as the demand remains
strong. Despite the impact of the COVID-19 pandemic, the popularity
of Chinese language education remains strong around the world.
According to the official data from the Ministry of Education of
the PRC, the global demand for Chinese language education has grown
during the COVID-19 pandemic. For example, the number of students
at the Confucius Institute at the University of Madrid in Spain has increased by 20%. According to the
Center for Language Education and Cooperation ("CLEC"), excluding
Chinese native speakers, 1 out of 31 people in the world has
learned and used Chinese. Incorporated into the national education
system, more than 25 million people abroad are learning Chinese,
and an aggregate of nearly 200 million people have learned and used
Chinese, according to Mr. Wenbin
Wang, the spokesperson of Ministry of Foreign
Affairs of the People's Republic of
China. In the first half of 2021, about 180,000 candidates
around the world took the Chinese language tests, such as Hanyu
Shuiping Kaoshi or Chinese Proficiency Test ("HSK"), HSK Speaking
Test ("HSKK"), Business Chinese Test ("BCT"), and Youth Chinese
Test ("YCT"), an increase of nearly 50% over the same period last
year. According to an article published by The Paper, a Chinese
digital newspaper, the market size of overseas Chinese language
education is expected to exceed RMB100
billion (approximately $14.7
billion) in the future.
Mr. Jason Zhao, Chairman of Meten
Holding Group, commented, "The popularity of the Chinese language
is rising globally, and many foreigners choose Chinese as their
second language; thus the international market size of Chinese
education grows significantly. However, it is also a highly
fragmented market with limited professionals and professional
training institutions. Our Chinese instructors' main focus is to
cultivate students' abilities to practice and communicate in
Chinese on our online learning platform. We believe students can
use Chinese professionally across various industries and
professional fields, such as business, economics, and healthcare.
As an industry pioneer, we will continue to work on teaching
Chinese as foreign language education programs and the online
education platform to address current market needs."
About Meten Holding Group Ltd.
Meten Holding Group Ltd., formerly known as Meten EdtechX
Education Group Ltd., is an omnichannel training company
headquartered in China providing
language and workplace training services. In addition to its
training services, Meten Holding Group actively develops metaverse,
blockchain and cryptocurrency mining businesses to align with its
future business development strategy. Meten Holding Group is
committed to developing blockchain related businesses in
North America, including
cryptocurrency mining, mining farm construction, and mining pool
and data center operation. Meten Holding Group actively explores
metaverse business, such as Metaverse vocational education courses,
with its competitive advantages and technology.
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 future development of and the
Company's ability to succeed in its new line of business in
cryptocurrency and blockchain industry; the continuing impact of
the COVID-19 pandemic and the emergence of new variants; 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. 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 Holding Group Ltd.