OneSmart Signs Strategic Cooperation Agreement with SPD Bank
OneSmart International Education Group Limited (NYSE: ONE) has entered a strategic cooperation agreement with Shanghai Pudong Development Bank (SPD Bank). This partnership aims to cross-sell OneSmart's premium educational products to SPD Bank's high-net-worth clients, leveraging the growth potential of China's education sector. CEO Steve Zhang emphasized the long-term relationship's potential to drive future growth. Established in 2008, OneSmart is a leader in K-12 education in China, operating 430 learning centers across 35 cities as of November 30, 2019.
- Strategic partnership with SPD Bank for cross-selling educational products.
- Potential to tap into high-net-worth clients in China's growing education market.
- None.
SHANGHAI, June 18, 2020 /PRNewswire/ -- OneSmart International Education Group Limited (NYSE: ONE) ("OneSmart" or the "Company"), the leading premium K-12 education company in China, today announced that it has signed a strategic cooperation agreement with Shanghai Pudong Development Bank ("SPD Bank") (SSE: 600000).
Under the agreement, in addition to traditional financial services, OneSmart and SPD Bank will work closely to explore opportunities such as cross-selling OneSmart's premium educational products to SPD Bank's high-net worth clients and take advantage of the enormous business opportunities that China's education sector continues to generate.
Mr. Steve Zhang, Chairman and Chief Executive Officer of OneSmart, commented, "As a leading premium and online education platform in China, we are excited to partner with a nationally recognized and respected financial institution like SPD Bank. This strategic cooperation agreement will create the foundation for a long-term relationship which will take advantage of our competitive advantages to drive growth going forward."
About OneSmart
Founded in 2008 and headquartered in Shanghai, OneSmart International Education Group Limited is a leading premium K-12 education company in China. Our vision is to be the most trusted and heartful high-tech education company and our mission is POWER LEARNING changes the future with technology advancement. Our company culture is centered on the core values of customer focus, excellence, integrity, and technology and innovation.
The Company has built a comprehensive premium K-12 education platform that encompasses OneSmart VIP business (the leading premium K-12 1-on-1 education business in China), HappyMath (the leading premium young children math education business in China), and FasTrack English (the second largest premium English education business in East China), and OneSmart Online (the leading premium online education platform in China). As of November 30, 2019, OneSmart operates a nationwide network of 430 learning centers across 35 cities in China.
For more information on OneSmart, please visit http://www.onesmart.investorroom.com.
Safe Harbor Statement
This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and 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," "confident" and similar statements. OneSmart may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about OneSmart's beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: OneSmart's goals and strategies; its future business development, financial condition and results of operations; its ability to continue to penetrate premium K-12 after-school education services market; diversify and enrich our education offerings; enhance the development and management of our teacher team and teaching materials; competition in our industry in China; its ability to maintain and expand online education presence; relevant government policies and regulations relating to the corporate structure, business and industry; and its ability to protect our students' information and adequately address privacy concerns. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and OneSmart does not undertake any obligation to update such information, except as required under applicable law.
For more information, please contact:
OneSmart
Ms. Rebecca Shen
+86-21-2250-5826
E-mail: ir@onesmart.org
Christensen
In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
E-mail: carnell@christensenir.com
In the US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@ChristensenIR.com
SOURCE OneSmart International Education Group Limited
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