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 its overseas training services was accredited as the “2020-2021 Most Famous Brand in the International Education Industry” by the Overseas Education Research Center of the China Education Think Tank Alliance, the Development Research Committee of Overseas Education Institutions (DRCOOT) and the National Academic Alliance of International Education Teachers (NAAIET) on Dec 16, 2020.
Overseas training services is a test-oriented ELT product launched by the Company that is mainly designed for students who plan to take international standardized tests, including, but not limited to, IELTS, TOEFL, SAT and ACT. Through intelligent analysis and evaluation system, overseas training services provides systematic teaching, training and comprehensive learning tracking service to students which stimulates students’ learning motivation, cultivates students’ 5 major habits of studying abroad, and helps students to achieve a solid academic improvement.
In addition to international standard test preparation , overseas training services team also provides overseas study application services for students going to the United Kingdom, the United States, Australia, Canada, and Hong Kong, including providing students with school selection, overseas study and living, and add on value for soft strength.
The Company will optimize and upgrade its current overseas training services to increase the diversity of its services, including, but not limited to, upgrading the products for middle school students, launching career and internship planning services and providing career consulting services which may enable students to overcome difficulties in improving scores, choosing majors and continuing to obtain higher education.
Assuming no resurgence of the COVID-19 pandemic in China, and taking into account recent positive developments relating to COVID-19 vaccines and the continuous recovery of China’s economy, the Company expects student enrollment of overseas study application services will gradually return to pre-pandemic levels in the second and the third quarter of 2021. It also targets the gross billing of overseas study application services to reach approximately RMB10 million in 2021, representing about 100% increase compared with 2020.
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.