This acquisition will lead the Company's business to the next
stage of growth in the vocational education industry
BEIJING, July 14,
2022 /PRNewswire/ -- China Liberal Education Holdings
Limited (Nasdaq: CLEU) ("China Liberal," the "Company," or "we"),
a China-based company that provides smart campus solutions and
other educational services, today announced that it closed the
transactions contemplated by the Stock Purchase Agreement entered
into on June 9, 2022 by and among the
Company, China Liberal (Beijing)
Education Technology Co., Ltd., a wholly owned subsidiary of the
Company, Oriental Wisdom Cultural Development Co., Ltd., the
acquired company ("Oriental Wisdom"), and Beijing Cloud Class
Technology Co., Ltd., the seller of the acquired company, and
completed its acquisition of Oriental Wisdom, an integrated
education services provider focusing on operating jointly-managed
academic programs in the vocational higher education industry in
China. This acquisition represents
the implementation of the Company's business strategy to drive
business growth in the vocational education industry through
integrating enterprises and developing vocational education across
various industries.
The acquisition reflects the Company's vision to generate
synergy in the vocational education industry, enhance the
collaboration between educational institutions and companies, and
improve the Company's management capabilities. The Company believes
that this acquisition also allows it to develop curriculum systems
with trusted teacher resources and integrate professional skills
and knowledge into liberal arts education, overcoming the obstacles
many higher education institutions encounter in professional
studies and reformations. Besides, the Company expects to expand
its services to a larger number of students, including internship
referrals, project outsourcing, and multi-level cooperation with
leading companies for talent recruitment and training as the goal
is to provide premium employment opportunities to students.
Ms. Ngai Ngai Lam, Chairperson and CEO of China Liberal,
commented, "The completion of the acquisition is another milestone
for China Liberal to move closer toward the Company's long-term
strategic vision of contributing to the rapid development of
vocational education, given the current situation of favorable
policies and increasing government budget in the industry in
China. We will continue to use our
advanced technologies and research and development (R&D)
capabilities to fulfill the demand of universities and colleges in
the software systems campus planning, and integrated teaching
solutions. Look forward, we remain dedicated to improving the
teaching quality of educational institutions in the vocational
education industry and contributing to benefiting more
students.
About Beijing Oriental Wisdom Cultural Development Co.,
Ltd.
Beijing Oriental Wisdom Cultural Development Co., Ltd. is an
integrated services provider in the higher education industry in
China. Through the research of
industry-education integration education model, school-enterprise
cooperation in running schools, professional practice, practical
training and employment, teacher training and other businesses, it
currently cooperates with 10 colleges and universities in Inner
Mongolia, Gansu, Shandong, and other provinces to operate
school-enterprise jointly-managed programs covering various majors.
There are about 4,000 students in these jointly-managed programs of
these partner colleges and universities, including about 3,700
undergraduates, 250 junior college students, and about 50 unplanned
enrollments.
About China Liberal Education Holdings Limited
China Liberal, headquartered in Beijing, is an educational
service provider in China. It provides a wide range of
services, including those under sino-foreign jointly managed
academic programs; overseas study consulting services;
technological consulting services for Chinese universities to
improve their campus information and data management system and to
optimize their teaching, operating and management environment,
creating a "smart campus"; and tailored job readiness training to
graduating students. For more information, please visit the
Company's website at ir.chinaliberal.com.
Forward-Looking Statements
This document contains forward-looking statements. These
forward-looking statements involve known and unknown risks and
uncertainties and are based on the Company's expectations and
projections about future events, which the Company derives from the
information currently available to the Company. Such
forward-looking statements relate to future events or our future
performance, including: our ability to successfully integrate the
newly acquired business; our financial performance and projections;
our growth in revenue and earnings; and our business prospects and
opportunities. You can identify forward-looking statements by those
that are not historical in nature, particularly those that use
terminology such as "may," "should," "expects," "anticipates,"
"contemplates," "estimates," "believes," "plans," "projected,"
"predicts," "potential," or "hopes" or the negative of these or
similar terms. In evaluating these forward-looking statements, you
should consider various factors, including: our ability to change
the direction of the Company; our ability to keep pace with new
technology and changing market needs; and the competitive
environment of our business. These and other factors may cause our
actual results to differ materially from any forward-looking
statement. Forward-looking statements are only predictions. The
forward-looking events discussed in this press release and other
statements made from time to time by us or our representatives, may
not occur, and actual events and results may differ materially and
are subject to risks, uncertainties and assumptions about us. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and the
Company cautions investors that actual results may differ
materially from the anticipated results and encourages investors to
review risk factors that may affect its future results in the
Company's registration statement and in its other filings with the
U.S. Securities and Exchange Commission.
Investor Relations Contact
China Liberal Education Holdings Limited
Email:ir@chinaliberal.com
Ascent Investor Relations LLC
Ms. Tina Xiao
Email: tina.xiao@ascent-ir.com
Tel: +1 917 609 0333
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SOURCE China Liberal Education Holdings Limited