SHENZHEN, China, Aug. 31, 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 Company is
striving to explore corporate training market and increase its
market presence.
From January to July of 2021, the Company's gross billing of
corporate training business increased by 107% compared with the
same period last year. Compared with the same period last year, the
number of corporate employees served has reached 4,000, an increase
of 53% ,and the number of enterprise customers served increased by
60%. The customer renewal rate reached 90% and customer and student
satisfaction rate was over 95%.
The Company's corporate training program provides a one-stop
English training solution for corporate clients, including some of
China's top 500 companies,
well-known Sino-foreign joint ventures, and State agencies. The
main industries represented by the clients are logistics, aviation,
finance, and healthcare. The Company has made significant progress
in acquiring corporate clients, particularly well-known corporate
clients across China, such as
PetroChina Company Limited, China Petroleum & Chemical
Corporation, State Intellectual Property Office, Great Wall Motors,
Shenzhen Stock Exchange, Light Beam Motors, and Industrial and
Commercial Bank of China.
As globalization continues to evolve, an increasing number of
companies have set to cultivate interdisciplinary talents with
English and professional skills to improve their employees'
all-round English skills in listening, speaking, reading, and
writing, thereby broadening their minds to other cultures,
improving cross-cultural communication skills, and enhancing
professionalism.
In the past 15 years, Likeshuo has been tested by the market and
has developed a stong brand reputation and acquired a deep
knowledge of the industry. Following the recent changes in the PRC
laws and regulations on private K-12 education, the Company is
dedicated to adopting a blue ocean strategy in corporate training
in order to create new demand and further differentiate itself in
this competitive market.
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.