Welcome to our dedicated page for China Liberal Education Holdings Ordinary Shares news (Ticker: CLEU), a resource for investors and traders seeking the latest updates and insights on China Liberal Education Holdings Ordinary Shares stock.
China Liberal Education Holdings Limited (Nasdaq: CLEU) is a prominent educational services provider headquartered in Beijing, China. The company's diverse operations encompass several key segments, including Sino-foreign Jointly Managed Academic Programs, textbooks and course material sales, Overseas Study Consulting Services, Technological Consulting Services for Smart Campus Solutions, and Tailored Job Readiness Training Services. Its revenue is predominantly derived from activities in China.
China Liberal operates two colleges: Fuzhou Melbourne Polytechnic and Strait College of Mingjiang University. These institutions offer a range of educational programs and services aimed at enhancing academic quality and job readiness. The company provides overseas study consulting services, which have previously catered to students looking to pursue higher education abroad. However, as of early 2023, this service has been discontinued in accordance with administrative guidelines.
One of the company's notable offerings includes Smart Campus Solutions, which involves technological consulting services to improve university campus information and data management systems. This service aims to optimize teaching, operations, and management environments, effectively creating a “smart campus.” Additionally, China Liberal offers tailored job readiness training services, helping graduates prepare for employment with customized training programs.
Financially, China Liberal has shown resilience despite facing challenges. The company reported a revenue decline in fiscal year 2023, mainly due to the termination of its Sino-foreign Jointly Managed Academic Programs. Nevertheless, it has seen significant revenue growth in its tailored job readiness training services and technological consulting services for smart campuses, with increases of 74.2% and 144.5% respectively, compared to the previous fiscal year.
China Liberal's CEO, Ms. Ngai Ngai Lam, highlighted the company's strategic focus on expanding service offerings, improving service quality, and searching for potential acquisition targets to drive long-term growth. This strategy reflects the company’s commitment to enhancing its operations and creating shareholder value.
In recent developments, China Liberal announced a share consolidation effective January 19, 2024, and has plans to convene its 2023 annual general meeting on November 30, 2023. The company also reported solid financial results for the first half of fiscal year 2023, with a substantial year-over-year revenue increase, demonstrating the effective implementation of its expansion strategies.
China Liberal Education Holdings (CLEU) has announced a 15-to-1 share consolidation effective December 24, 2024. Each fifteen pre-consolidation ordinary shares with $0.015 par value will automatically combine into one ordinary share with $0.225 par value. The company's shares will continue trading on the Nasdaq Capital Market under the same symbol 'CLEU' but with a new CUSIP number G2161Y125. All fractional shares will be rounded up to whole numbers. Post-consolidation, the company's authorized share capital will be $225,000,000, divided into 1,000,000,000 ordinary shares of $0.225 par value each.
China Liberal Education Holdings (Nasdaq: CLEU) has announced its 2024 Annual General Meeting (AGM) to be held on November 25, 2024, at 9:30 a.m. China Standard Time. The meeting will take place at the company's Beijing location to consider and vote on proposed resolutions. Shareholders of record as of October 31, 2024, are entitled to vote, with one vote per share. The company's board fully supports the proposed resolutions and recommends shareholders vote in favor. The company has also filed its annual report on Form 20-F for the fiscal year ended December 31, 2023, which is accessible on both the company's website and SEC's website.
China Liberal Education Holdings (Nasdaq: CLEU) reported its unaudited financial results for the first six months of fiscal year 2024 ended June 30, 2024. The company experienced a revenue decline to $0.89 million, down 34.8% from $1.36 million in the same period last year. Despite this, the company maintained a strong gross margin of 84.8%, up from 63.2% last year. The company reported a net loss of $4.72 million, compared to a net income of $0.38 million in the previous year.
Key financial highlights include:
- Revenue decreased by 34.8% to $0.89 million
- Gross profit decreased by 12.6% to $0.75 million
- Gross margin increased by 21.5 percentage points to 84.8%
- Loss from operations was $4.56 million
- Basic and diluted loss per share were $2.04
- Cash position increased to $84.15 million as of June 30, 2024
China Liberal Education Holdings (Nasdaq: CLEU) has received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement. The company's ordinary shares failed to maintain a minimum bid price of $1.00 for 32 consecutive business days from July 8 to August 20, 2024. CLEU has been given until February 17, 2025, to regain compliance by achieving a closing bid price of at least $1.00 for a minimum of 10 consecutive business days.
If the company fails to meet this requirement, it may face potential delisting from the Nasdaq Capital Market. China Liberal is considering options to regain compliance, including the possibility of a reverse share split. The company assures that its business operations remain unaffected by this notification.
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