Meten Holding Group Ltd. to Launch Blockchain Related ELT Courses

Rhea-AI Summary

Meten Holding Group Ltd. (NASDAQ: METX) announced plans to launch blockchain-related English language training (ELT) courses in early March 2022. Developed in collaboration with Hainan HuoDa Education Technology, these courses aim to assist professionals in the blockchain industry, which is projected to grow in China's market. According to East Money Information, the blockchain market in China is expected to reach $16.37 billion by 2026, with a 73% compound annual growth rate. CEO Alan Peng emphasized the importance of English proficiency in this rapidly evolving sector.

Positive

• Launch of blockchain-related ELT courses targeting a rapidly growing market.
• Collaboration with Hainan HuoDa brings expertise in blockchain education.
• Blockchain market in China projected to reach $16.37 billion by 2026 with 73% CAGR.

Negative

• None.

SHENZHEN, China, March 2, 2022 /PRNewswire/ -- Meten Holding Group Ltd. ("Meten Holding Group" or the "Company") (NASDAQ: METX), one of the leading omnichannel English language training ("ELT") service providers in China, today announced that it plans to launch blockchain related ELT courses (the "Courses") in early March 2022.

The Courses are designed by the English teaching experts from the Company and blockchain experts Mr. Jianing Yu and Mr. Jun Yang from Hainan HuoDa Education Technology Co., Ltd. ("HuoDa"), an advanced industry education institution focusing on the application of blockchain. The Courses provide professional English training to professionals in the blockchain industry.

Blockchain has emerged as the forefront of global technological development. The major developed countries encourage the development of blockchain technology with positive policy guidance and industrial support to enhance their own competitiveness in blockchain technology and industries. It is crucial for practitioners in the blockchain industry to master English, given that industry-related and market development information is majorly provided in English.

According to projections of East Money Information Co., Ltd. dated June 2021, a Chinese financial and stock information website provider, China's blockchain market will continue to grow rapidly, with an estimated compound annual growth rate of 73% from 2021 to 2026, and a market size estimated to reach $16.37 billion in 2026. In the next two decades, the market size of China's blockchain industry is expected to reach the trillion-dollar level.

Mr. Alan Peng, Chief Executive Officer of Meten Holding Group commented: "We are excited to introduce blockchain related ELT courses to the marketplace, which we believe will help people in the blockchain industry with English learning. With the fast development and expansion of the blockchain industry in China and globally, we intend to help more people tackle language challenges in this industry. The Courses are also a part of the Company's business strategy in developing blockchain and metaverse related education in China and overseas."

About Hainan HuoDa Education Technology Co., Ltd.

Hainan HuoDa Education Technology Co., Ltd. is an industry education institution focusing on the application of blockchain, with the motto of "linking industries and empowering entities" and aiming at cultivating the "blockchain thinking" of top entrepreneurs. HuoDa focuses on teaching and research in the fields of new applications of blockchain technology and is in a leading position in the field of blockchain education.

About Meten Holding Group Ltd.

Meten Holding Group Ltd., formerly known as Meten EdtechX Education Group Ltd., is one of the leading omnichannel ELT service providers in China, delivering English language and skills training for Chinese students and professionals. In addition to strengthening its position in the ELT service industry in China, Meten actively explores the blockchain and cryptocurrency mining business outside China, with a long-term goal of creating value across the cryptocurrency industry. Meten expects to engage in businesses related to blockchain and metaverse in North America and other countries and areas around the world (not including China), including cryptocurrency mining, mining farm construction, and mining pool and data center operation.

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 Company's to successfully launch its launch blockchain related ELT courses; the future development of and the Company's ability to succeed in its new line of business in cryptocurrency and blockchain industry; the continuing impact of the COVID-19 pandemic and the emergence of new variants; 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. 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 Holding Group Ltd.

FAQ

What are the blockchain-related ELT courses launched by METX?

Meten Holding Group is launching blockchain-related English language training courses to help professionals in the blockchain industry enhance their English proficiency.

When is Meten Holding Group releasing its blockchain-related courses?

The blockchain-related ELT courses are set to be launched in early March 2022.

What is the market growth projection for China's blockchain industry?

According to East Money Information, China's blockchain market is expected to reach $16.37 billion by 2026, with a compound annual growth rate of 73%.

Who is collaborating with METX on the new courses?

Meten is collaborating with Hainan HuoDa Education Technology to develop the blockchain-related ELT courses.

Why are English skills important in the blockchain industry?

English proficiency is crucial in the blockchain industry as most industry-related information is provided in English, which is key for market development.