Meten EdtechX maintains strong fundamentals and shareholder support

Rhea-AI Summary

Meten EdtechX announced that as of August 13, 2020, all major shareholders remain intact, with some investors planning to increase their holdings. Major shareholders include Amizut, IBIS Capital, CICC, TH Capital, and DG Capital Ltd. The company is focusing on expanding its language offerings and K12 products within China's education market, which has significant growth potential. Notably, Meten returned to positive operating cash flow as of July 2020. CFO Henry Wong commented on recent short-selling activity, asserting the company's strong fundamentals and continued support from its prestigious shareholders.

Positive

• All original major shareholders remain on the shareholder register as of August 13, 2020.
• Some major shareholders intend to increase their holdings.
• Meten returned to positive operating cash flow as of July 2020.
• The company is focusing on expanding language offerings and K12 products.

Negative

• Recent light short-selling activity may indicate market skepticism.

SHENZHEN, China, Aug. 20, 2020 (GLOBE NEWSWIRE) -- Meten EdtechX is pleased to report that as at 13 August 2020 all its original major shareholders remain on its shareholder register. To date, none have reduced their shareholding, and it is the Company’s understanding that, encouragingly, some of these investors intend to increase their holdings.  

Meten EdtechX’s major shareholders include Italian fund, Amizut, UK education technology-focused IBIS Capital, one of China’s largest investment banks, CICC, TH Capital (a fund set up by leading Chinese University, Tsing Hua University) and DG Capital Ltd. 

Meten EdtechX remains a key player in China’s education market, which continues to offer extensive opportunities for growth. Meten remains fully focused on executing its growth plans, which include an expanded language offering and further development of its K12 products. As of July 2020, the company fully returned to positive operating cashflow.  
  
Commenting on recent share price movement, Henry Wong, CFO said: "Recent light short-selling activity as revealed in Bloomberg news is misguided and will be closed out eventually.  It is clear that our fundamentals remain strong, something which is recognised by our prestigious shareholder base, from which we continue to receive support.”

For investor and media enquiries, please contact:

Meten EdtechX
Stanley Yang 
+86 1851-8513-075

FAQ

What recent developments have occurred with Meten EdtechX shareholders?

As of August 13, 2020, all major shareholders remain on the shareholder register, with some planning to increase their holdings.

What is the current operating cash flow status of Meten EdtechX?

Meten EdtechX returned to positive operating cash flow as of July 2020.

What are Meten EdtechX's growth plans?

The company is focusing on expanding its language offerings and further developing K12 products.

What did CFO Henry Wong say about recent short-selling activity?

CFO Henry Wong referred to the short-selling activity as misguided and asserted that the company's fundamentals remain strong.