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 Limited (Nasdaq: CLEU) announced on November 15, 2021, that its all-in-one teaching machine, AI-Space, received positive recognition from experts in educational technology. The product was showcased to industry leaders, including representatives from CAET and BAHE. Experts praised AI-Space for its integration of multiple teaching systems, effectiveness in enhancing learning, and customizable features. The company aims to provide a more efficient learning environment with its innovative solutions.
China Liberal Education Holdings Limited (Nasdaq:CLEU) held its 2021 Annual General Meeting of Shareholders on October 18, 2021, where several key decisions were made. Shareholders re-elected five directors, confirmed the appointment of Friedman LLP as their independent auditor for the fiscal year ending December 31, 2021, and adopted the Company’s annual accounts. Furthermore, the shareholders allocated net income for the fiscal year ended December 31, 2020, to general corporate purposes and approved the 2021 Share Incentive Plan.
China Liberal Education Holdings Limited (Nasdaq: CLEU) announced alignment with new government directives promoting vocational education. The Chinese Central Committee and State Council issued guidelines aimed at enhancing vocational education quality by 2025 and 2035, focusing on emerging industries and school-enterprise collaboration. China Liberal has been offering integrated education solutions since 2018, partnering with various institutions and enterprises to enhance talent training. The company aims to further develop these education solutions to support China's vocational education growth.
China Liberal Education Holdings Limited (Nasdaq: CLEU) announced it received two patents from the China State Intellectual Property Administration for its AI-Space teaching machine. The utility model patent, obtained on September 24, 2021, recognizes the device's innovative functionality, while the appearance design patent was granted on April 23, 2021. AI-Space enhances smart classrooms through advanced technologies, promoting interactive and online-merge-offline (OMO) teaching. The company aims to leverage its patents to further develop education informatization applications and has received positive feedback from various esteemed educational institutions.
China Liberal Education Holdings Limited (Nasdaq: CLEU) announced that its AI-Space technology was used during the opening ceremony for the Preparatory Course for Study Abroad at Beijing Foreign Studies University, held on September 12, 2021. The AI-Space provides high-definition live broadcasts and features such as sound source positioning and image tracking to enhance educational experiences. The system aims to support online and offline teaching, improving student engagement and learning efficiency. This event marks a significant step for the company in promoting its technological innovations in the education sector.
China Liberal Education Holdings Limited (Nasdaq: CLEU) announced on September 9, 2021, a definitive purchase and sale contract with Beijing Cloud Class Technology Co., Ltd. to sell 100 AI-Space machines for RMB25 million (approx. US$3.85 million). The AI-Space machines will be used to construct and upgrade 100 smart classrooms across universities in the Inner Mongolia Autonomous Region and Shandong province. The contract includes a RMB2 million down payment made on the announcement date. This move highlights the company's recognition in the market for its AI-Space technology, aimed at improving educational services.
China Liberal Education Holdings Limited (Nasdaq: CLEU) announced a strategic cooperation agreement with Boya Shoushan Kindergarten on August 11, 2021. This partnership aims to deliver comprehensive smart kindergarten solutions, including data management and facility reconstruction. The solutions encompass six critical areas, from attendance management to home-school interaction, leveraging technology to enhance operational efficiency. CEO Ngai Ngai Lam emphasized the significant market potential in China's preschool education sector due to urbanization and policy changes.
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.
China Liberal Education Holdings Limited (Nasdaq: CLEU) announced the appointment of two new independent directors to its board, expanding the board from five to seven members. As of July 20, 2021, Mr. Wandong Chen and Ms. Xinyu Deng have joined. Mr. Chen brings over 17 years of experience in accounting and finance, previously serving at Moore Stephens Da Hua CPAs. Ms. Deng has extensive legal expertise, having worked as chief general counsel at Baomihua.com. The CEO expressed confidence that their insights will enhance the company’s governance and industry position.
On July 3, 2021, China Liberal Education Holdings Limited (CLEU) signed a LOI Extension Agreement to acquire Wanzhong Education Investment Management Co., Ltd (WEIM) for RMB350 million. This acquisition aims to enhance China Liberal's operational capacity in the education sector, allowing direct ownership of schools and the potential for increased profits. The transaction's completion hinges on due diligence, negotiations, and shareholder approval. WEIM operates two colleges, generating annual revenue of approximately RMB100 million and holding total assets of RMB200 million.
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