China Liberal Education Holdings Limited Reports Sales Results of its Self-developed Textbooks Published by Fudan University Press
China Liberal Education Holdings Limited (Nasdaq: CLEU) reported the sale of 46,626 self-developed textbooks published by Fudan University Press as of December 14, 2020. The textbooks, aimed at enhancing language training, are used in various joint education programs with Chinese universities. The Company signed contracts with FUP for royalties on 12 textbooks, of which nine have been published and three are expected by year-end. CEO Ngai Ngai Lam emphasized the importance of high-quality teaching materials for educational services and plans to expand into subjects like computer science.
- Sold 46,626 textbooks, indicating strong market interest.
- Signed three contracts with Fudan University Press for 12 self-developed textbooks.
- Nine textbooks published; three more expected by December 31, 2020.
- Focus on quality teaching materials supports educational service growth.
- None.
BEIJING, Dec. 15, 2020 /PRNewswire/ -- China Liberal Education Holdings Limited (Nasdaq: CLEU) ("China Liberal", or the "Company", or "we"), an educational services provider in China, today reported the sales results of its self-developed textbooks published by Fudan University Press ("FUP"). A total of 46,626 copies of textbooks were sold as of December 14, 2020 and some of these textbooks were distributed to the Chinese host universities, including Fuzhou Melbourne Polytechnic and Straits Institute of Mingjiang University, to be used in the joint education programs.
The Company signed three book publishing contracts (the "Contracts") with FUP on November 7, 2019. Pursuant to the Contracts, FUP agreed to pay the Company royalties in exchange for FUP's exclusive publication and distribution rights for 12 English textbooks which were developed and edited by the Company with emphasis on language training (including reading, writing, speaking and listening skills). FUP has already published nine textbooks under the Contracts and will publish the remaining three textbooks by December 31, 2020. FUP also agreed under the Contracts that the Company reserves the copyrights of these textbooks.
Ms. Ngai Ngai Lam, Chairwoman and CEO of China Liberal, commented, "We are pleased to report the sales results of our self-developed textbooks published by FUP. The publication of these textbooks showcases the Company's teaching and research capacities. As these textbooks are used in different universities, they lay a good foundation for the Company to cooperate with more of universities. We have always concentrated on the quality of our own teaching materials because they are an important part of our educational service business. Moving forward, the Company will utilize platform resources from both foreign and Chinese universities it cooperates with to edit and publish more textbooks covering subjects, such as computer science and intelligent manufacturing."
About China Liberal Education Holdings Limited
China Liberal, headquartered in Beijing, is an educational services provider in China. It provides a wide range of services, including those under Sino-foreign jointly managed academic programs; overseas study consulting services; technological consulting services for Chinese universities to improve their campus information and data management system and to optimize their teaching, operating and management environment, creating a "smart campus"; and tailored job readiness training to graduating students. For more information, visit the company's website at ir.chinaliberal.com.
Forward-Looking Statements
This document contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," or "hopes" or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.
Investor Relations Contact
China Liberal Education Holdings Limited
Email: ir@chinaliberal.com
Ascent Investor Relations LLC
Ms. Tina Xiao
Email: tina.xiao@ascent-ir.com
Tel: +1 917 609 0333
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SOURCE China Liberal Education Holdings Limited
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