Meten EdtechX Education Group Ltd. Maintains the No. 1 Language Training Service Sales During the "Singles’ Day" Nationwide Promotion Activity on Tmall.com for Three Consecutive Years

Rhea-AI Summary

Meten EdtechX Education Group Ltd. (NASDAQ: METX) announced that its online English language training platform, Likeshuo, achieved RMB8.83 million in gross billings during the recent Singles' Day promotion from November 1 to 11, 2020, marking three consecutive years at the top of language training sales on Tmall.com. Despite the challenges posed by COVID-19, Likeshuo reported a year-on-year growth of over 30% in gross billings for the first three quarters of 2020, driven by strong brand awareness and high-quality teaching services.

Positive

• Likeshuo generated RMB8.83 million in gross billings during the Singles' Day promotion.
• Achieved No. 1 sales in language training services on Tmall.com for three consecutive years.
• Reported over 30% year-on-year growth in gross billings for the first three quarters of 2020.

Negative

• None.

Likeshuo generated RMB8.83 million in gross billings from such promotion activity

SHENZHEN, China, Nov. 13, 2020 (GLOBE NEWSWIRE) -- Meten EdtechX Education Group Ltd. (NASDAQ: METX) (“Meten EdtechX” or the “Company”), a leading English language training (“ELT”) service provider in China, today announced its online ELT platform， “Likeshuo”， maintained the No. 1 language training sales^[1] among all language training service providers who participated during the “Singles’ Day” nationwide promotion activity on Tmall.com for three consecutive years. Likeshuo generated RMB8.83 million in gross billings during entire 11-days “Singles’ Day” nationwide promotion activity from November 1 to November 11, 2020.

Meten EdtechX launched its online ELT platform, Likeshuo, in 2015 and integrated high-quality online teaching in small-class setting and immersive teaching by foreign teachers from native English-speaking countries. Likeshuo has successively covered English, Japanese, and other minority language training markets. In spite of the COVID-19 epidemic, Likeshuo has achieved a year-on-year growth of more than 30% in gross billings in the first three quarters of 2020 with its strong brand awareness and high-quality teaching services.

^[1] Ranking based on gross billings from November 1 to November 11, 2020

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
+86 136-5142-6060
wendy_wsr@meten.com

Ascent Investor Relations LLC
Tina Xiao
+1 917-609-0333
tina.xiao@ascent-ir.com

FAQ

What were Likeshuo's gross billings during Singles' Day 2020?

Likeshuo generated RMB8.83 million in gross billings during the Singles' Day promotion from November 1 to 11, 2020.

How did Likeshuo perform in the Singles' Day promotion compared to other providers?

Likeshuo maintained the No. 1 position in language training sales among all providers participating in the Singles' Day promotion on Tmall.com.

What growth did Likeshuo experience in 2020 despite COVID-19?

Likeshuo achieved over 30% year-on-year growth in gross billings during the first three quarters of 2020.

What is Meten EdtechX?

Meten EdtechX is a leading English language training service provider in China, offering various language training through its online and offline platforms.