Shenzhen, China, May 20, 2022 /PRNewswire/ — Meten Holding Group Ltd. (“Meten Holding Group” or the “Company”) (NASDAQ: METX), an omnichannel training company headquartered in China providing workplace and language training services and actively developing metaverse, blockchain and cryptocurrency mining businesses, today announced that the company plans to launch a Chinese language teaching program as foreign language (the “Program”) globally in early June 2022.
The teaching of Chinese as a foreign language is an in-depth and interdisciplinary research topic, including basic theoretical research and applied language teaching. The program aims to better promote the learning and development of teaching the Chinese language as a foreign language and to make distinctive contributions to the promotion of the Chinese language in the countries along the “Belt and the Road”, in particular Malaysia, Indonesia, Thailand, The Philippines, Vietnam in South East AsiaWATER, Qatar, Kuwait, Saudi Arabia in West Asiaand Serbia, Poland, Czech Republic, Croatia in the center and Eastern Europeetc
The Company intends to use an online platform with a light business model to build a global e-learning platform with the aim of realizing the localization and growth of education services. By combining professional education experience with AI technology, the company aims to provide personalized services to meet the unique learning needs of students. To achieve the scale growth of educational services, the company plans to integrate and leverage foreign teacher resources and collaboration channels that have been deeply cultivated for the English language training market for many years and to adopt a low-cost, high-penetration model to promote Chinese. training programs.
The market for teaching Chinese as a foreign language 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 education remains strong around the world. According to official data from the PRC’s Ministry of Education, the global demand for Chinese language education has increased 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 Education and Cooperation (“CLEC”), excluding native Chinese speakers, 1 in 31 people worldwide have learned and used Chinese. Integrated into the national education system, more than 25 million overseas people are learning Chinese, and a total of nearly 200 million people have learned and used Chinese, according to Mr. Wenbin Wangthe spokesperson for the Ministry of Foreign Affairs of the People’s Republic of China. In the first half of 2021, around 180,000 applicants 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 nearly 50% over the same period last year. According to an article published by The Paper, a Chinese digital newspaper, the size of the overseas Chinese language teaching market is expected to exceed 100 billion RMB (approximately $14.7 billion) in the future.
Mr. Jason ZhaoChairman of Meten Holding Group, said, “The popularity of the Chinese language is increasing globally, and many foreigners are choosing Chinese as their second language; thus, the size of the international Chinese education market is increasing significantly. However, it is also a very fragmented market. with a limited number of professionals and vocational training institutions. The main goal of our Chinese instructors is to cultivate students’ abilities to practice and communicate in Chinese on our online learning platform. We believe that students can use Chinese professionally in various industries and professional fields, such as business. As an industry pioneer, we will continue to work on teaching Chinese language curricula as as a foreign language and on the online education platform to meet current market needs.
About Meten Holding Group Ltd.
Meten Holding Group Ltd., formerly known as Meten EdtechX Education Group Ltd., is an omnichannel education company headquartered in China offering language and workplace training services. In addition to its training services, Meten Holding Group is actively developing metaverse, blockchain and cryptocurrency mining businesses to align with its future business development strategy. Meten Holding Group is committed to developing blockchain-related business in North America, including mining cryptocurrency, building mining farms, and operating a mining pool and data center. Meten Holding Group is actively exploring metaverse business such as Metaverse professional 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 pursuant to the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as “will”, “expect”, “anticipate” , “future”, “intends”, “plans”, “believes”, “estimates” 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 could cause actual results to differ materially from those contained in any forward-looking statement, including, but not limited to, the following: the company’s future development and ability to succeed in its new line of business in the cryptocurrency and blockchain industry; the continued impact of the COVID-19 pandemic and the emergence of new variants; our ability to attract students without significantly lowering tuition fees; our ability to continue to hire, train and retain qualified teachers; our ability to maintain and improve our brands; our ability to effectively and efficiently manage the expansion of our school network and successfully execute our growth strategy; the outcome of any pending or future litigation or arbitration, including those relating to copyright and other intellectual property rights; competition in the English language training industry in China; changes in our revenues and certain cost or expense items as a percentage of our revenues; the expected growth of the Chinese English training and private education market; Chinese government policies relating to private educational services and providers of such services; health epidemics and other epidemics 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 attachments speaks as of the date of this press release, and the Company assumes no obligation to update such information except as required by applicable law.
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