Meten EdtechX to Launch Adult Overseas Higher Education Service in the Fall of 2021
Meten EdtechX Education Group Ltd. (Nasdaq: METX) announced plans to launch online adult overseas higher education services in Fall 2021, starting in major Chinese cities including Beijing and Guangzhou. This initiative aligns with new regulations encouraging online educational activities. The program will offer flexible learning options without requiring China's Unified National Graduate Entrance Examination, allowing for direct enrollment. Courses will be taught by renowned professors in various disciplines, including business and computer science, and aim to provide accessible, quality education to Chinese students.
- Launch of online adult overseas higher education services.
- Flexible learning options catering to executives and entrepreneurs.
- Courses taught by well-known professors.
- Plans to offer master's degrees from international universities.
- Potential challenges in attracting students without significant fee reductions.
- Risks associated with timely launch amidst ongoing COVID-19 impacts.
- Competition in the English language training sector in China.
SHENZHEN, China, Aug. 5, 2021 /PRNewswire/ -- Meten EdtechX Education Group Ltd. (Nasdaq: METX) ("Meten EdtechX" or the "Company"), one of the leading omnichannel English language training ("ELT") service providers in China, today announced that the Company plans to start providing online adult overseas higher education services in the Fall of 2021. Enrollment for the Services will first start in Beijing, Guangzhou, Shenzhen, Chengdu, Chongqing, Foshan, Wuhan, and Nanjing, and will be expanded throughout China in the Spring of 2022.
Providing online adult overseas higher education services is in line with The Regulations on the Implementation of the Non-state Education Promotion Law of the People's Republic of China (the "Regulations"), which will come into force on September 1, 2021. According to the Regulations, China encourages private schools to implement educational activities online by leveraging Internet technology.
Online adult overseas higher education services will provide flexible learning methods and learning-friendly curriculum designed for people with a need for higher education degrees from overseas institutions. Students can directly enroll in programs through independent recruitment without China's Unified National Graduate Entrance Examination, which save time for executives and entrepreneurs. A variety of teaching functions will be available, such as online live lectures, online recorded and broadcast lectures, live Q&A classes, and offline lectures. In addition, our online adult overseas higher education services will offer English-only courses, Chinese and English bilingual courses, and Chinese-only courses, which are all taught by well-known professors.
The Company is committed to distributing the world's best educational resources to customers in need of an effective and low-cost education through its platform. Our online adult overseas higher education services will offer master's degrees in a variety of disciplines from many universities in the United States, Switzerland, Italy, France, and Malaysia, among others. The Company currently plans to launch master's programs in majors including business administration, finance, hotel management, psychology, education, computer science, artificial intelligence, and art.
About Meten EdtechX
Meten EdtechX is one of the leading ELT service providers in China, delivering English language and skills training for Chinese students and professionals. Through a sophisticated digital platform and a 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). The Company offers superior teaching quality and student satisfaction, served 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 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 timely launch of ourponline adult overseas higher education services, 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 brands; 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 U.S. 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
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SOURCE Meten EdtechX Education Group Ltd.
FAQ
When will Meten EdtechX launch its online adult overseas higher education services?
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What types of degrees will Meten EdtechX offer through its new education services?
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