Shenzhen, china, July 21, 2021 / PRNewswire / – Meten EdtechX Education Group Ltd. (Nasdaq: METX) (“Meten EdtechX” or the “Company”), a leading provider of omnichannel English training (“ELT”) services in China, today announced that gross billing and student enrollments of its junior ELT business in the first semester of 2021 increased by 316.9% and 240.9% respectively compared to the same period last year, and increased by 97.9% and 64.4% respectively compared to June 2020.
The gross invoicing of the Company’s junior ELT activity in June 2021 increased 97.5% year-over-year and 21.3% compared to the same period in 2019. These figures confirm that the Company has returned to its pre-pandemic growth path.
The Company is actively developing its junior ELT business within its current network of 22 cities and has received positive feedback from the market. The gross invoicing of student renewals and referrals represented 54.5% of the total gross invoicing of the Company’s junior ELT activity in June 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 quality-oriented junior education business.
About Meten EdtechX
Meten EdtechX is one of the leading ELT service providers in China, providing 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 (ELT services for adults and juniors), ABC (mainly ELT junior services) and Likeshuo (ELT online). The company delivers educational quality and graduate student satisfaction, served by cutting-edge technology deployed throughout its business, including centralized AI-based education and management systems that record and analyze business processes. real-time learning.
The Company is committed to improving the overall English skills of the Chinese people to keep abreast of the rapid development of globalization. Its experienced leadership is focused on developing its digital platform and expanding its network of learning centers to provide an ever-evolving service offering to a growing number of students across China.
For more information, please visit: https://investor.metenedu-edtechx.com.
Safe Harbor Declaration
This announcement contains forward-looking statements that involve risks and uncertainties. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as “will”, “expect”, “anticipate” “,” The future “,” intentions “,” 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 significantly reducing course fees; our ability to continue to hire, train and retain qualified teachers; our ability to maintain and improve our brands; our ability to effectively and efficiently manage the expansion of our school network and to successfully execute our growth strategy; the outcome of any ongoing or 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 training and private education market; Chinese government policies relating to private education services and providers of such services; health epidemics and other epidemics 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 filings with the Securities and Exchange Commission. The Company assumes no obligation to update any forward-looking statement, except as required by 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 does not undertake to update such information, except as required by applicable law.
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SOURCE Meten EdtechX Education Group Ltd.