Meten EdtechX Education Group Ltd (NASDAQ: METX) gained 3.09% after the company announced that its enrolment of students and gross billing for the junior English Language Training (ELT) segment increased by 163.9% and 247.8%, respectively in May. Enrolments and billing were up 65% and 92.4% YoY, respectively.
Meten expanding its junior ELT segment
The gross billing of Meten’s junior ELT segment climbed by 408.4% YoY in the first five months of 2021. These numbers show that the company is on track to resume its pre-pandemic growth path.
Within its present network of 22 locations, Meten is rapidly expanding its junior ELT operations, which has received a favorable market reaction. In May 2021, gross billing through student subscriptions and referrals represented 57.7% of the company’s total gross billing of the junior ELT business, proving that parents and students value and acknowledge its services. Because of recent policy changes, Meten will continue growing its high-quality junior education sector.
Meten EdtechX offers three English language training services.
Meten EdtechX is a renowned English language training company in China, offering English language training and skills to professionals and students in China. Likeshuo (adult and junior ELT services), Meten (adult and junior ELT services), and ABC (mainly junior ELT services) are three industry-leading brands offered through the company’s sophisticated digital platform and a statewide network of learning facilities. The company provides high-quality teaching and student satisfaction by using the latest tech throughout its operations, including AI-driven centralized teaching and monitoring systems that evaluate and record learning in real-time.
To keep up with the fast globalization pace, the Meten is committed to strengthening the English language proficiency among Chinese students and professionals. The company focuses on enhancing its digital platform and extending its network of learning centers to provide services to the rising number of students throughout China.