SHENZHEN, China, June 18, 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 gross billing
and student enrollment of its junior ELT business in May 2021 increased by 247.8% and 163.9%
respectively compared to the same period of last year and increased
by 92.4% and 65.2% respectively compared to May 2019.
In the first five months of 2021, the gross billing of the
Company's junior ELT business increased by 408.4% year over year
and increased by 120.4% compared with the same period in 2019.
These figures confirm that the Company has returned to its
pre-pandemic growth trajectory.
The Company is actively expanding its junior ELT business within
its current network of 22 cities and has received positive market
feedback. The gross billing from student renewals and referrals
accounted for 57.7% of the total gross billing of the Company's
junior ELT business in May 2021,
demonstrating that the Company's services have been widely
appreciated and recognized by students and their parents. Due to recent policy changes, the Company will
continue to develop the business of junior quality-oriented
education.
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.