SHENZHEN, China, 20 May 2022 / PRNewswire / – Meten Holding Group Ltd. (“Measure Holding Group” or the “Company”) (NASDAQ: METX), an omnichannel training company headquartered in China the provision of language and workplace training services and active development of metaverse, blockchain and cryptocurrency mining companies, announced today that the Company plans to launch Chinese as a foreign language teaching program (the “Program”) worldwide in early June 2022.
Teaching Chinese as a foreign language is a subject that involves comprehensive and interdisciplinary research, including basic theoretical research and applied language teaching. The program aims to better promote the learning and development of Chinese language teaching as a foreign language and to make unique contributions to the promotion of the Chinese language in countries along the Belt and Road initiative, including Malaysia, Indonesia, Thailand, the philippines, Vietnam in Southeast AsiaVAE, Qatar, Kuwait, Saudi Arabia in West Asiaand Serbia, Pole, Czech Republic, Croatia in Central and Eastern Europeetc.
The Company intends to use an online platform with an asset-light business model to build a global online learning platform with the goal of achieving the localization and growth of educational services. By combining the experience in professional teaching with AI technology, the company strives to provide personalized services to meet the unique learning needs of students. To achieve the growth of the educational service scale, the company plans to integrate and utilize the resources of foreign teachers and collaborative channels that have been deeply cultivated for many years for the English training market and adopt a low-cost and high-penetration model to Chinese. promote training programs.
The market for Chinese as foreign language teaching programs is entering a new phase of rapid growth as demand remains strong. Despite the impact of the COVID-19 pandemic, the popularity of Chinese language teaching remains strong around the world. According to the official data of the Ministry of Education of the VRC, the global demand for Chinese language teaching grew during the COVID-19 pandemic. For example, the number of students at the Confucius Institute at the University of Madrid in Spain increased by 20%. According to the Center for Language Teaching and Cooperation (“CLEC”), excluding Chinese native speakers, 1 in 31 people in the world have learned and used Chinese. Enrolled in the national education system, more than 25 million people abroad learn Chinese, and a total of nearly 200 million people have learned and used Chinese, according to Mr. Wenbin Wangthe spokesperson of the Ministry of Foreign Affairs of the People’s Republic of China. In the first half of 2021, about 180,000 candidates around the world took the Chinese language tests, such as Hanyu Shuiping Kaoshi or Chinese Proficiency Test (“HSK”), HSK Speaking Test (“HSKK”), Business Chinese Test (“BCT”)) , and Youth Chinese Test (“YCT”), an increase of almost 50% over the same period last year. According to an article published by The Paper, a Chinese digital newspaper, the market size of overseas Chinese language teaching is expected to exceed RMB100 billion (roughly $ 14.7 billion) in the future.
Mr. Jason ZhaoChairman of Meten Holding Group, said: “The popularity of the Chinese language is increasing worldwide, and many foreigners are choosing Chinese as their second language; thus the international market size of Chinese education is growing significantly. However, it is also a highly fragmented market. with limited professionals and professional training institutions.Our Chinese instructors ‘main focus is to cultivate students’ abilities to practice Chinese and communicate on our online learning platform.We believe students can use Chinese professionally across various industries and professional fields such as business, economics “And as an industry pioneer, we will continue to work on teaching Chinese as a foreign language education program and the online education platform to address current market needs.”
More about Meten Holding Group Ltd.
Meten Holding Group Ltd., formerly known as Meten EdtechX Education Group Ltd., is an omnichannel training company headquartered in China the provision of language and workplace training services. In addition to its training services, Meten Holding Group is actively developing metaverse, blockchain and cryptocurrency mining businesses to fit its future business development strategy. Meten Holding Group is committed to developing blockchain-related businesses in North America, including cryptocurrency mining, mining farm construction, and mining pool and data center industry. Meten Holding Group is actively exploring metaverse business, such as Metaverse Vocational Training Courses, with its competitive advantages and technology.
For more information, please visit: https://investor.metenedu-edtechx.com.
Safe Harbor Statement
This announcement contains forward-looking statements that involve risks and uncertainties. These statements are made under the “safe haven” provisions of the 1995 US Private Securities Litigation Reform Act. These forward-looking statements can be identified by terminology such as “will”, “expect”, “expect,” “future,” “intended “,” plan “,” believe “,” estimate “and similar statements. Statements that are not historical facts, including statements about the company’s beliefs and expectations, are forward-looking statements. A number of factors may cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the future development of and the Company’s ability to succeed in its new line of business in cryptocurrency and blockchain industry; the ongoing impact of the COVID-19 pandemic and the emergence of new variants; our ability to attract students without a significant decrease in course fees; our ability to continue to hire, train and retain qualified teachers; our ability to maintain and improve our brands; our ability to manage the expansion of our school network effectively and efficiently and to execute our growth strategy successfully; the outcome of ongoing, or any future, litigation or arbitration, including those relating to copyright and other intellectual property rights; competition in the English language training sector in China; changes in our revenue and certain cost or expense items as a percentage of our revenue; the expected growth of the Chinese English language training and private education market; Chinese government policy regarding private education services and providers of such services; health epidemics and other outbreaks in China; and general economic conditions in China. The Company undertakes no obligation to update any forward-looking statement, except as required by applicable law. All information provided in this press release and in the annexures is from the date of this press release, and the Company undertakes no obligation to update such information except as required under applicable law.
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SOURCE Meten Holding Group Ltd.
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