Breaking News: Meten EdtechX Remains Strong Growth of its "BiGao" Exam Preparatory Product | Financial Buzz

Breaking News: Meten EdtechX Remains Strong Growth of its “BiGao” Exam Preparatory Product

Meten EdtechX Education Group Ltd. (NASDAQ: METX) (“Meten EdtechX” or the “Company”), a leading omnichannel English language training (“ELT”) service provider in China, today announced the latest business development of its exam preparatory product segments, demonstrating that the performance of the “BiGao” exam preparatory product (“BiGao”) for middle school students has exhibited strong growth since launch in July 2019. Meanwhile, with the launch of the “YunFan”, the exam preparatory product (“YunFan”) for college students, in December 2020, the competitiveness of Meten EdtechX in the market of exam preparatory products in China has been further strengthened.

With the core goal of improving students’ exam performance, “BiGao” provides a comprehensive VIP learning program for mid-to-high net worth families in China, covering various subjects, including English and mathematics ranging from the junior high school to the college entrance examination. Relying on the improving results from exam scores and good experiences, the cumulative gross billing generated from “BiGao” for the five months ended November 30, 2020 has been approximately RMB20 million, and has increased significantly by more than 360% compared to the same periods last year. It is worth noting that a significant number of the Company’s students from both online and offline ELT business segments are customers of “BiGao”, which enables “BiGao” to expand its customer base efficiently.

“YunFan” exam preparatory product was officially launched on December 22, 2020. Unlike “BiGao”, “Yunfan” is an exam preparatory product mainly designed to assist college students with their exam preparation, including high-level exams such as national English levels 4 and 6 and postgraduate entrance exams. The launch of “YunFan” enables the Company to expand its domestic exam preparatory product segments to different age groups and complete the close-loop of its business from ELT and domestic exam preparatory services in China to overseas exam preparation, which can effectively improve the conversion rate of the students of Meten EdtechX among different product lines and the user stickiness of the Company.

About Meten EdtechX

Meten EdtechX is a leading ELT service provider in China, delivering English language and future skills training for Chinese students and professionals. Through a sophisticated digital platform and 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). It offers superior teaching quality and student satisfaction, which are underpinned 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 and competitiveness 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.

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