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 gross billing and student enrollment of its junior ELT business increased by 1,910.4% and 758.1% respectively in April 2021 compared to the same period of last year. The gross billing and student enrollment increased by 100.6% and 31.0% respectively compared to April 2019.
In the first four months of 2021, the gross billing of the Company’s junior ELT business increased by 473.8% year over year and gained a 128.6% growth compared with the same period in 2019. The figures confirm that the Company has returned to its pre-pandemic rapid growth trajectory.
The Company is actively expanding its junior ELT business within its current network of 22 cities and has received positive market feedback. The gross billing from student renewals and referrals accounted for 62.8% of the total gross billing of the Company’s junior ELT business in April, demonstrating that the Company’s services have been widely appreciated and recognized by students and their parents.
Through leveraging its business experience, vertical expansion strategy and brand influence, the Company expects its junior ELT business to achieve RMB2.6 million in gross billing in the second quarter of fiscal year 2021, which would represent a 300% increase compared to the same period of last year and a 50% growth compared with the second quarter of 2019.
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.