Breaking News: Meten EdtechX to Resume Full Operation of its Learning Centers in March 2021 | Breaking News: Meten EdtechX to Resume Full Operation of its Learning Centers in March 2021Financial Buzz

Breaking News: Meten EdtechX to Resume Full Operation of its Learning Centers in March 2021

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 that the Company plans to reopen all of its learning centers in 2021 after a temporary shutdown due to COVID-19.

To reduce the negative impacts of the COVID-19 pandemic, Chinese government implemented multiple control and prevention measures to avoid residents being infected. In response to such measures, the Company decided to permanently close its 30 physical learning centers severely affected by the epidemic with the worst performance in high-risk areas after the Chinese New Year holiday in 2020. This strategy helped the Company maintain positive working capital in order to maintain operations of its key learnings centers. As a result, the Company operated a total of 118 learning centers nationwide by the end of 2020, compared to 148 in 2019.

The Company’s top priority is to ensure health and safety of its students, employees and their families. Since March 2020, with proper precautionary measures taken, the Company started to gradually reopen its learning centers, and by the end of June 2020, the Company had reopened a majority of its learning centers in low-risk areas of China. By the end of September 2020, the Company basically resumed operation in high-risk areas of China. Although there were resurgence of sporadic COVID-19 cases recently, the Company still expects to resume full operation of all learning centers across China in March 2021.

After reopening all its learning centers, the Company expects its market share in the Chinese ELT industry to increase. As March is the peak season for English learning, the Company plans to execute its business strategies, aiming to achieve strong results of operations and financial performance.

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 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). 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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    Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the ‘Site’) is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. FinancialBuzz.com has not been compensated directly by any of the companies mentioned here in this editorial unless mentioned otherwise. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For meten edtechx education group ltd video production, filming editing, news reporting, financial and corporate news dissemination, FinancialBuzz.com has signed a four-month agreement with the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com has agreed to three hundred thousand common and restricted shares for six months, FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com.