Meten EdtechX Education Group Ltd. Maintains Strong Performance of its Junior English ELT Business After The COVID-19 Pandemi...
November 10 2020 - 8:00AM
Meten EdtechX Education Group Ltd. (NASDAQ: METX) (“Meten EdtechX”
or the “Company”), a leading English language training (“ELT”)
service provider in China, today announced that it maintains strong
performance of its junior English ELT (“Junior ELT”) business after
the COVID-19 pandemic in China .
As one of the important business segments of the
Company, Junior ELT has maintained strong performance after
recovering from the COVID-19 pandemic. The gross billings of Junior
ELT have recovered approximately 87.2% in September 2020 and
increased approximately 48.6% in October 2020 compared to the same
periods last year, respectively. The gross billings achieved in a
single month is also improving steadily month by month, with a
month-on-month increase of approximately 6.4% in October 2020. It
is worth noting that the renewal and referral income from existing
students accounted for approximately 54% of the gross billings.
The outstanding performance of the Junior ELT
after the COVID-19 pandemic was a result of the deliciated
management:
Comprehensive
Curriculum Product
Designing
Junior ELT is committed to providing
high-quality ELT services to children and teenagers from three to
18 years of age in China. Junior ELT’s service comprehensively
covers all stages of English language learning, including interest
cultivation in the enlightenment stage of English learning, the
close-loop learning of input to output in systematic English
learning, and improvement of concentration and test scores, all of
which make Junior ELT the first choice for an increasing number of
urban elite families.
Use
Original “English as a second language” (“ESL”)
Textbooks
In the selection of teaching materials, Junior
ELT insists on choosing various original English learning materials
from top international education publisher as the main source of
course materials. Junior ELT also works to make every student enjoy
the edification of pure English way of thinking and learn English
more efficiently.
Integrate High-quality Chinese and
Foreign Teaching Resources
The Company’s Chinese and foreign teaching
resources are in the leading position of the industry. The foreign
teachers are from English-speaking countries, while the Chinese
teachers are all graduates of domestic normal colleges with
substantial teaching experience, and most of them hold both the
Teaching Knowledge Test (TKT) certificate and the Certificate in
English Language Teaching to Adults (CELTA) certificate.
Superior Before and After Class
Services
For students of different ages, the Company
provides corresponding after-school consolidation services. The
"Junior ELT" APP is suitable for students from three to nine years
old to read words and sentences after class. The MTS online
practice system is suitable for students aged ten to eighteen for
the needs of offline class and online review in midweek, and
students can have summaries of wrong questions after practicing
online. After-class teaching weekly report, online Q&A and
other services are also essential for students to achieve good
learning results.
About Meten EdtechX
Meten EdtechX is a leading ELT service provider
in China, delivering English language and future skills training
for Chinese students and professionals. Through a sophisticated
digital platform and 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). It offers superior teaching
quality and student satisfaction, which are underpinned 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 and competitiveness 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.
For investor and media enquiries, please
contact:
Meten EdtechX
Wendy Wang+86
136-5142-6060wendy_wsr@meten.com
Ascent Investor Relations LLCTina Xiao+1
917-609-0333tina.xiao@ascent-ir.com
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