China Liberal Provides Straits Institute of Minjiang University with Smart Campus Solutions

Rhea-AI Summary

China Liberal Education Holdings Limited (Nasdaq: CLEU) announced a contract with Straits Institute of Minjiang University (SIMU) in July 2021 to provide smart campus solutions. The installation and testing of the systems are completed, enabling SIMU to utilize China Liberal's AI-Space for virtual teaching. This technology facilitates remote instruction and class recordings, enhancing educational delivery. Revenue from technological consulting services for smart campus solutions represented 38% of total revenue in FY 2020, and the company anticipates increased contributions from this segment in future financial periods.

Positive

• Contract with SIMU enhances service offerings and market presence.
• Technological consulting services contributed 38% to revenue in FY 2020.
• Expansion in smart campus solutions expected to increase future revenues.

Negative

• None.

BEIJING, Aug. 4, 2021 /PRNewswire/ -- China Liberal Education Holdings Limited (Nasdaq: CLEU) ("China Liberal", the "Company", or "we"), an educational services provider in China, providing, among other services, smart campus solutions, today announced that it entered into a contract (the "Contract") with Straits Institute of Minjiang University("SIMU") in July 2021 to provide smart campus solutions to SIMU. All system installation and testing procedures of the smart campus solutions have been completed.

SIMU conducts its virtual online teaching by utilizing China Liberal's self-developed and patented all-in-one machine AI-Space, which provides integrated visualization solutions to students. China Liberal's solutions enable teachers to teach remotely through Tencent conference, ZOOM, Feishu, Teams and other software, and remotely record the entire teaching class and store it on the cloud server synchronously for students to watch or download at any time. Teachers can use the AI-Space audio-visual control integrated machine management and control platform to remotely manage and control all equipment in the classrooms, such as screen switching, recording and broadcasting, volume adjustment, screen adjustment, and device switching.

Ms. Ngai Ngai Lam, Chairwoman and CEO of China Liberal, commented, "We promoted our products through the informatization cooperation with the SIMU. Our revenue are mainly generated from Sino-foreign jointly managed academic programs, technological consulting services for smart campus solutions, and integration of enterprises and vocational education. The revenue generated from technological consulting services for smart campus solutions, one of our core businesses, accounted for 38% of our total revenue in the fiscal year 2020. We expect to increase the proportion of this line of business in our total revenue year by year through further promoting the application of our own products."

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

FAQ

What is the significance of the contract between China Liberal (CLEU) and SIMU?

The contract enhances China Liberal's service offerings in smart campus solutions and represents a strategic partnership for future growth.

How much revenue does China Liberal generate from smart campus solutions?

In FY 2020, 38% of China Liberal's total revenue came from technological consulting services related to smart campus solutions.

When was the contract with SIMU signed?

The contract with Straits Institute of Minjiang University was signed in July 2021.

What technology does China Liberal provide to SIMU?

China Liberal provides the AI-Space, an all-in-one machine for integrated visualization solutions, enabling remote teaching and class management.