Meten EdtechX Launches SVIP Courses to Address High-End Adult ELT Market

Rhea-AI Summary

Meten EdtechX Education Group Ltd. (Nasdaq: METX) has launched SVIP courses tailored for the high-end adult English language training (ELT) market in China. As demand for international communication rises, these customized courses will be offered through various teaching methods, including remote and in-person sessions. The initiative aims to capitalize on the post-COVID-19 recovery and diversify services for high-net-worth clients. Meten expects these courses to drive significant growth in 2021, leveraging its established brand and digital teaching capabilities.

Positive

• Launch of SVIP courses for high-end adult ELT market targeting high-net-worth clients.
• Courses offered through flexible methods—including remote and face-to-face teaching—cater to diverse customer needs.
• Strategic timing of launch to take advantage of post-pandemic demand restoration.

Negative

• None.

SHENZHEN, China, Jan. 26, 2021 (GLOBE NEWSWIRE) -- Meten EdtechX Education Group Ltd. (Nasdaq: METX) (“Meten EdtechX” or the “Company”), a leading omnichannel English language training (“ELT”) service provider in China, today announced that the Company has launched SVIP courses to address the high-end adult ELT market.

As China continues its globalization efforts, the demand for international communication is becoming more urgent than ever and thus, the high-end adult ELT market has tremendous potential. Compared with other sub-fields, high-end adult ELT addresses more diversified customer needs, including, but not limited to, international business negotiations and international cultural exchanges. In order to meet different customer needs, educational institutions are required to have highly professional teachers in order to provide comprehensive teaching services.

As a key player in the Chinese ELT market, Meten EdtechX has been formulating more high-end SVIP courses for China’s high-net-worth students/users by providing them with customized courses. These customized courses will be provided through flexible and diverse teaching methods, such as remote teaching via video and telephone and face-to-face teaching at our offline learning centers. Students can choose different teaching modes to suite their special needs and achieve the best learning results they expect.

Taking into account the recent positive developments relating to the COVID-19 vaccines and the continuous recovery of China’s economy, the demand for international exchanges is expected to be gradually restored. The launch of the SVIP courses at this moment is strategic as we plan to lay the foundation for the growth of this segment, which we believe would enable the Company to grasp the opportunity to diversify its scope of services and address the high-end adult ELT market. Building on Meten EdtechX’s years of brand awareness, the Company expects that the SVIP courses will become another strong growth point in 2021.

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.

Safe Harbor Statement

This announcement contains forward-looking statements that involve risks and uncertainties. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the impact of the COVID-19 outbreak, our ability to attract students without a significant decrease in course fees; our ability to continue to hire, train and retain qualified teachers; our ability to maintain and enhance our “Meten” brand; our ability to effectively and efficiently manage the expansion of our school network and successfully execute our growth strategy; the outcome of ongoing, or any future, litigation or arbitration, including those relating to copyright and other intellectual property rights; competition in the English language training sector in China; changes in our revenues and certain cost or expense items as a percentage of our revenues; the expected growth of the Chinese English language training and private education market; Chinese governmental policies relating to private educational services and providers of such services; health epidemics and other outbreaks in China; and general economic conditions in China. Further information regarding these and other risks is included in our annual report on Form 20-F and other documents filed with the Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no duty to update such information, except as required under applicable law.

For investor and media inquiries, please contact:

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

FAQ

What are the new SVIP courses launched by Meten EdtechX?

The SVIP courses are customized English language training programs aimed at high-net-worth adults, addressing diverse needs such as international business and cultural exchanges.

How does Meten EdtechX plan to deliver these SVIP courses?

Meten EdtechX will provide SVIP courses through flexible teaching methods, including remote sessions via video and in-person classes at learning centers.

What market does Meten EdtechX target with the new SVIP courses?

The new SVIP courses target the high-end adult English language training market in China, particularly focusing on high-net-worth students.

What impact does Meten EdtechX expect from launching the SVIP courses?

The company expects the SVIP courses to significantly contribute to growth in 2021, leveraging the resurgence in demand for international communication.