Tarena International, Inc. Entered into a Strategic Cooperation Agreement with Xueda Education Group

Rhea-AI Summary

Tarena International, Inc. (Nasdaq: TEDU) announced a strategic cooperation agreement with Xueda Education Group to enhance quality education services in China. The partnership focuses on adult professional education, computer coding, and robotics courses. Tarena will handle curriculum development and tutoring management, while Xueda will manage student recruitment and marketing. Both companies have extensive experience in offline tutoring, aiming for deeper collaboration beyond mere transactions. This cooperation signals a significant move in the education sector, enabling shared resources and expertise for improved educational outcomes.

Positive

• Strategic cooperation with Xueda Education Group enhances educational offerings.
• Tarena will manage curriculum development, improving product quality.
• Collaboration aims for mutual benefit through shared resources and expertise.

Negative

• None.

BEIJING, Oct. 21, 2021 /PRNewswire/ -- Tarena International, Inc. (Nasdaq: TEDU) ("Tarena" or the "Company"), a leading provider of adult professional education and childhood & adolescent quality education services in China, today announced that it has entered into a strategic cooperation agreement with Xueda Education Group ("Xueda") to establish an in-depth collaboration framework between both parties in quality education businesses, including adult professional education, childhood & adolescent computer coding and robotics programming courses, robotics competitions and training camps.

Pursuant to the strategic cooperation agreement, Tarena is responsible for the curriculum development and tutoring management for the relevant businesses, and Xueda is responsible for the student recruitment, marketing activities and the provision of classroom area and relevant facilities.

"Tarena and Xueda have 19 and 20 years of experience in offline tutoring education, respectively," said Shaoyun Han, the founder and Chairman of the Board of Directors of Tarena. "Sharing a common understanding and commitment on education philosophy and teaching methods, both parties are pleased to establish the foundation of the in-depth strategic cooperation."

"Since our inception, Tarena has been focusing on enhancing the quality of our comprehensive products and services," said Ying Sun, CEO of Tarena. "We believe that both Tarena and Xueda can benefit mutually from this strategic cooperation arrangement."

"This strategic cooperation with Tarena is not a simple cooperation in product and service transaction, but a deeper cooperation at the business and operation level," said Xin Jin, founder and CEO of Xueda. "It will pioneer an all-round cooperation between two listed companies in the education industry."

About Tarena International, Inc.

Tarena is a leading provider of adult professional education and childhood and adolescent quality education services in China. Through its innovative education platform combining live distance instruction, classroom-based tutoring and online learning modules, Tarena offers adult professional education courses in IT and non-IT subjects. Its adult professional education courses provide students with practical skills to prepare them for jobs in industries with significant growth potential and strong hiring demand. Tarena also offers childhood and adolescent quality education programs, including computer coding and robotics programming courses, etc., targeting students aged between three and eighteen.

About Xueda Education Group

Xueda Education Group ("Xueda") was founded in 2001, became listed on the New York Stock Exchange in 2010, and returned to the A-share market in 2016 (SZ:000526). With 20-year offline teaching experience, Xueda adheres to the educational concept of teaching students according to their aptitude, from which it gradually extends and develops into "personalized intelligent education."

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. Tarena 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 fourth parties. Any statements that are not historical facts, including any business outlook and statements about Tarena's beliefs and expectations, are forward-looking statements. Many factors, risks and uncertainties 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: Tarena's goals and strategies; its future business development, financial condition and results of operations; its ability to continue to attract students to enroll in its courses; its ability to continue to recruit, train and retain qualified instructors and teaching assistants; its ability to continually tailor its curriculum to market demand and enhance its courses to adequately and promptly respond to developments in the professional job market; its ability to maintain or enhance its brand recognition, its ability to maintain high job placement rate for its students, and its ability to maintain cooperative relationships with financing service providers for student loans. Further information regarding these and other risks, uncertainties or factors is included in Tarena'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 Tarena does not undertake any obligation to update such information, except as required under applicable law.

For further information, please contact:

Investor Relations Contact
Tarena International, Inc.
Email: ir@tedu.cn

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SOURCE Tarena International, Inc.

FAQ

What is the strategic cooperation agreement between Tarena and Xueda about?

The agreement focuses on enhancing quality education services, specifically in adult professional education and coding programs.

What roles will Tarena and Xueda play in the cooperation?

Tarena will oversee curriculum development and tutoring management, while Xueda will handle student recruitment and marketing.

What are the potential benefits of the Tarena and Xueda collaboration?

The collaboration aims to enhance educational quality and increase mutual benefits through shared resources and expertise.

When was the strategic cooperation agreement announced?

The agreement was announced on October 21, 2021.

What does Tarena International, Inc. specialize in?

Tarena specializes in adult professional education and quality education services for children and adolescents, including coding and robotics.