BEIJING, April 26, 2021 /PRNewswire/ -- Ucommune
International Ltd. (NASDAQ: UK) ("Ucommune" or the "Company"), a
leading agile office space manager and provider in China, today announced that it is the provider
of office space to New Oriental Education & Technology Group
Inc. ("New Oriental") for its offline education program established
earlier this year at the Company's Jinan News Building office. The
program had completed over 10,000 hours of course instruction as of
March 30, 2021.
In 2019, New Oriental signed a lease with the Company for over
200 workstations to establish its business in Jinan. Ucommune's fast-paced, high-end, and
cost-effective business venues enabled New Oriental to expand
rapidly in the region. As such, New Oriental further expanded its
lease with the Company for nearly 150 additional workstations in
July 2020. Expanding on its success
over the last two years, New Oriental launched its new offline
education program at the Company's Jinan News Building office space
in early 2021.
Ucommune's Jinan News Building office space is located in in the
heart of Jinan's commercial
district just one block away from Shandong Normal University and
adjacent to Greentown Jinan Center, Jinan's metropolitan landmark building. With
the entry of New Oriental, China's
largest provider of private educational services, and the abundance
of local educational resources, Ucommune's Jinan News Building
office has created a unique education-focused community that
promotes the development and prosperity of the local community.
Jinan New Oriental University's head of business department
commented, "Ucommune provides us with a convenient and worry-free
environment where we can fully focus on operating our business. As
opposed to concerning ourselves with property logistics in a
traditional office setting, we can quickly get approval for venue
access while getting additional support with publicity and
marketing. Furthermore, the all-inclusive cost structure helps us
save utilities and internet costs. We look forward to deepening our
relationship with Ucommune as we continue to explore more
Dr. Daqing Mao, Founder of
Ucommune, commented, "One of our core values is to provide a new
style of work space that allows greater interaction between our
community members to help spark innovation. We remain committed to
our mission of cultivating this new working culture anchored in the
four foundations of sharing, innovation, responsibility, and
success for all. Our partnership with New Oriental in Jinan is special in that it not only fosters
such an environment within our building, but also promotes the
development of talent and prosperity in the local community."
About Ucommune International Ltd.
Ucommune is China's leading
agile office space manager and provider. Founded in 2015, Ucommune
has created a large-scale intelligent agile office ecosystem
covering economically vibrant regions throughout China to empower its members with flexible and
cost-efficient office space solutions. Ucommune's various offline
agile office space services include self-operated models, such as U
Space, U Studio, and U Design, as well as asset-light models, such
as U Brand and U Partner. By utilizing its expertise in the real
estate and retail industries, Ucommune operates its agile office
spaces with high efficiency and engages in the urban transformation
of older and under-utilized buildings to redefine commercial real
estate in China.
About New Oriental
New Oriental is the largest provider of private educational
services in China offering a wide
range of educational programs, services and products to a varied
student population throughout China. New Oriental's program, service and
product offerings consist of K-12 after-school tutoring, test
preparation, language training for adults, pre-school education,
primary and secondary school education, education materials and
distribution, online education, and other services. New Oriental is
listed on NYSE (NYSE: EDU) and SEHK (9901.SEHK) respectively. New
Oriental's ADSs, each of which represents one common share. The
Hong Kong-listed shares are fully
fungible with the ADSs listed on NYSE.
Safe Harbor Statements
This announcement contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements are made under the "safe
harbor" provisions of the U.S. Private Securities Litigation Reform
Act of 1995. These statements can be identified by terminology such
as "will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "potential," "continue," "ongoing,"
"targets," "guidance" and similar statements. The Company may also
make written or oral forward-looking statements in its periodic
reports to the U.S. Securities and Exchange Commission (the "SEC"),
in its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Any statements that are
not historical facts, including statements about the Company's
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. 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
Company's growth strategies; its future business development,
results of operations and financial condition; its ability to
understand members' needs and provide products and services to
attract and retain members; its ability to maintain and enhance the
recognition and reputation of its brand; its ability to maintain
and improve quality control policies and measures; its ability to
establish and maintain relationships with members and business
partners; trends and competition in China's agile office space market; changes in
its revenues and certain cost or expense items; the expected growth
of China's agile office space
market; PRC governmental policies and regulations relating to the
Company's business and industry, and general economic and business
conditions in China and globally
and assumptions underlying or related to any of the foregoing.
Further information regarding these and other risks, uncertainties
or factors is included in the Company's filings with the SEC. 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 obligation to update any forward-looking statement, except as
required under applicable law.
For investor and media inquiries, please contact:
Ucommune International Ltd.
+1 (212) 537-3847
SOURCE Ucommune International Ltd.