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“Inheriting Traditional Chinese Medicine, Inspiring a Smarter Future”HONG KONG SAR - Media OutReach Newswire - 25 March 2025 - Beijing Tong Ren Tang has a brand history spanning over 350 years. Beijing Tong Ren Tang Chinese Medicine Company Limited ("Beijing Tong Ren Tang") (3613.HK) in Hong Kong is committed to promoting the legacy of traditional Chinese medicine culture and supporting the industry's long-term development. Recently, the company held a Plaque Cleansing (Complimenting) Ceremony at its Research and Development Production Plant at Tai Po Industrial Estate to celebrate the annual global "Tong Ren Tang Day," reaffirming its commitment to uphold virtues, nurture culture, and sustain traditional craftsmanship. Today, Beijing Tong Ren Tang officially announced its series of activities for 2025, highlighting the inaugural "Hong Kong Student Ambassador Programme for Chinese Medicine and Health Care." (Photo 1) With a prestigious royal medicine brand history of over 300 years, Beijing Tong Ren Tang Chinese Medicine Company Limited recently held a Plaque Cleansing (Complimenting) Ceremony at its Research and Development Production Plant and Cultural Museum at Tai Po Industrial Estate to celebrate the annual global "Tong Ren Tang Day." The "Hong Kong Student Ambassador Programme for Chinese Medicine and Health Care" is organized by Beijing Tong Ren Tang and supported by China Mobile Hong Kong Company Limited ("CMHK") through its education platform "Edubile". The programme combines Tong Ren Tang's over 350 years of traditional Chinese medicine wisdom with Edubile's 5G+AIoT technologies, providing participating schools with a specially designed course named "Tong Ren Smart Green Chinese Herbal Medicine Cultivation Course" that integrates STEAM education elements. The course aims to fuel Hong Kong students' interest in traditional Chinese medicine culture and modern technology. It also seeks to enhance their awareness of career planning, nurture a new generation of student ambassadors promoting traditional Chinese medicine culture, and actively contribute to the development of community health. Today, Beijing Tong Ren Tang held a launch ceremony for the inaugural "Hong Kong Student Ambassador Programme for Chinese Medicine and Health Care" at its Research and Development Production Plant at Tai Po Industrial Estate. Distinguished officiating guests included Mr. Chen Fei, Executive Director of Beijing Tong Ren Tang Chinese Medicine Company Limited; Mr. Liu Gang, Factory Manager of Beijing Tong Ren Tang Chinese Medicine Company Limited; Mr. Chen Ning Jie, Assistant General Manager, Product Centre, China Mobile Hong Kong Company Limited, and Mr. Wong Wai Lung, Senior Product Manager (Education Product), China Mobile Hong Kong Company Limited. (Photo 2) Beijing Tong Ren Tang collaborates with China Mobile Hong Kong’s Education Platform “Edubile” to launch the inaugural "Hong Kong Student Ambassador Programme for Chinese Medicine and Health Care" and activate the "Tong Ren Smart Green Chinese Herbal Medicine Cultivation Course." Mr. Chen Fei, Executive Director of Beijing Tong Ren Tang Chinese Medicine Company Limited (Left) and Mr. Chen Ning Jie, Assistant General Manager, Product Centre, China Mobile Hong Kong Company Limited (Right) hosted the launching ceremony that marks the integration of traditional Chinese medicine wisdom with innovative technologies. Inheriting Traditional Chinese Medicine, Inspiring a Smarter Future. Speaking at the ceremony, Mr. Chen Fei, Executive Director of Beijing Tong Ren Tang Chinese Medicine Company Limited, said, "With a brand history of over 350 years, Beijing Tong Ren Tang is dedicated to passing on the essence and wisdom of traditional Chinese medicine to benefit society and the world. We are thrilled to be supported by China Mobile Hong Kong's education platform Edubile. By integrating the knowledge of traditional Chinese medicine with smart and innovative technologies, we bring a wealth of diverse experiences to campus for teachers and students. Our goal is to deepen public understanding, preserve this rich cultural heritage, and promote healthier lifestyles." Mr. Chen Ning Jie, Assistant General Manager, Product Centre at China Mobile Hong Kong Company Limited, stated that CMHK was honored to collaborate with Beijing Tong Ren Tang through Edubile, jointly promoting the convergence of culture, education, and technology while proactively nurturing the next generation of talent. He mentioned that by leveraging CMHK Edubile's proprietary 5G+AIoT technologies, they provided students with immersive and interactive learning experiences, which included cultivating and observing the growth cycles of Chinese medical herbs. Such an approach would inspire students' research spirit and creative thinking. Mr. Chen expressed that China Mobile Hong Kong looked forward to working closely with Beijing Tong Ren Tang to create a new landscape in education. (Photo 3) Guests attending the launch ceremony of the inaugural "Hong Kong Student Ambassador Programme for Chinese Medicine and Health Care” (from Left to Right) : Mr. Liu Gang, Factory Manager of Beijing Tong Ren Tang Chinese Medicine Company Limited; Mr. Chen Fei, Executive Director of Beijing Tong Ren Tang Chinese Medicine Company Limited; Mr. Chen Ning Jie, Assistant General Manager, Product Centre, China Mobile Hong Kong Company Limited and Mr. Wong Wai Lung, Senior Product Manager (Education Product), China Mobile Hong Kong Company Limited. The inaugural "Hong Kong Student Ambassador Programme for Chinese Medicine and Health Care" offers the "Tong Ren Smart Green Chinese Herbal Medicine Cultivation Course," covering four major areas: theoretical knowledge, practical experiments, expert interactive learning, and community engagement. The course provides in-depth knowledge of Chinese medical herb cultivation techniques, medicinal herb knowledge, and modern developments in Chinese medicine. It also includes practical components, such as making Chinese medicine herbal sachets, to enhance enjoyment and stimulate student participation. Through the "Tong Ren Smart Green Chinese Herbal Medicine Cultivation Course" students will learn to cultivate various types of Chinese medicinal herbs, utilizing CMHK Edubile's 5G+AIoT technologies to observe, record, and analyze plant growth data. Participants will also have the unique opportunity to visit Beijing Tong Ren Tang's Research and Development Production Plant and Cultural Museum at Tai Po Industrial Estate, as well as CMHK 5G Lab, interacting and exchanging insights with traditional Chinese medicine experts and technology specialists. This experience enhances students' understanding of the Chinese medicine industry and its technological applications. The comprehensive program fosters awareness of traditional Chinese medicine culture, inspires interest in its practices, and encourages creative thinking through practical experiences, achieving interdisciplinary educational innovation. The "Hong Kong Student Ambassador Programme for Chinese Medicine and Health Care" is now open for enrolment for local primary and secondary school students. Upon completion of the course and community activities, participants will be awarded the "Tong Ren Smart Green Chinese Herbal Medicine Cultivation Course" Certificate and become "Hong Kong Student Ambassador for Chinese Medicine and Health Care". For more details and enrolment information, please contact the programme coordinator via email at btrtapplication@gmail.com on or before 30 March 2025.Hashtag: #BeijingTongRenTang #Edubile #ChineseMedicine #StudentAmbassador #Education #SmartGreenhttps://cm.tongrentang.comhttps://www.facebook.com/beijingtongrentanghkThe issuer is solely responsible for the content of this announcement.About Tong Ren Tang DayOn the 18th day of the second lunar month in the year 1723 (during the reign of Emperor Yongzheng), the Imperial Medical Bureau official, Liu Shengfang, submitted the memorial to the throne. Emperor Yongzheng approved the supply of medicinal materials from the Tong Ren Tang pharmacy for use in the Imperial Palace. This marked the beginning of a unique 188-year tradition of providing medicinal supplies to the Qing dynasty palace. As a result, the 18th day of the second lunar month was designated as 'Tong Ren Tang Day'. About Beijing Tong Ren TangTong Ren Tang was founded in 1669, and has a history of 356 years. The company has always adhered to its corporate motto of "No compromise on cost and labour despite the complexity of processing herbal medicine. No compromise on quality and standard despite the scarcity of medicine ingredients." This commitment has led Beijing Tong Ren Tang to steady development, lasting through every generation, achieving excellence, and becoming a national treasure while expanding globally. At the same time, Beijing Tong Ren Tang has taken on the mission of promoting traditional Chinese medicine culture, actively participating in domestic and international traditional Chinese medicine promotion activities, facilitating cultural exchanges around the world, and striving to expand the international influence of traditional Chinese medicine. To date, it has been operating over 160 retail branches in 26 countries and regions overseas, making it one of the most recognized traditional Chinese medicine brands internationally.About Beijing Tong Ren Tang Chinese Medicine Company LimitedIn 2004, Tong Ren Tang expanded its operations overseas by establishing Beijing Tong Ren Tong Chinese Medicine Company Limited in Hong Kong. Ahering to the corporate belief of "Nurturing kindness and virture, Preserving tranquility and wellness", and with the mission of "Healthy Life, Globally Choice", the company is based in Hong Kong while strategically positioning itself worldwide. It carries the mission of promoting traditional Chinese medicine culture outside mainland China. By employing a model that integrates medical services with medicine and emphasizes cultural outreach, the company is driving forward the internationalization of traditional Chinese medicine. (Beijing Tong Ren Tong Chinese Medicine Company Limited website: https://cm.tongrentang.com)About New Product Research and DevelopmentBeijing Tong Ren Tang Chinese Medicine Company Limited actively develops a variety of registered Traditional Chinese patent medicines and health products, embodying the philosophy of "Health Life, Globally Choice." This year, the company has introduced a registered Chinese medicine specifically designed for the prevention and treatment of non-alcoholic fatty liver disease (NAFLD) – Lingzhi Jianghuang Fufang Huoxue Anshen Capsules, which includes Ganoderma and turmeric compound for invigorating qi and tranquilizing the mind.. This product features a unique formula containing ingredients such as Ganoderma, turmeric, magnolia berry, and , and kudzu root. It offers a range of benefits, including promoting blood circulation and energy flow, quenching thirst, replenishing energy, and calming the mind. With its "cleanse, regulate, and nourish" three-in-one functionality, the product can reduce visceral fat, harmonize the body, and ultimately repair and protect the liver. Last year, the company's research and development team collaborated with one of the local well-known universities on the "Pharmacodynamic and mechanism study of Lingzhi-Jianghuang Formula (LJF) extract on NAFLD in mice" was funded by Hong Kong Research Grants Council under Research Matching Grant Scheme. It is a strongly supportive study for the product's efficacy. Furthermore, the company has created awide range of high-quality health products to comprehensively care for public health.About EdubileIn support of the Hong Kong SAR Government's strategic direction in nurturing technological talent, China Mobile Hong Kong (CMHK) has launched its education platflorm "Edubile". Drawing on its strengths in 5G and AI technologies, Edubile aims to drive digital transformation across campuses, fostering a new generation of innovation and technology leaders. Guided by its vision of "Bringing 5G+AI Technology into Campuses", Edubile has developed speciialised educational content and e-learning platforms for educational purposes. By integrating advanced 5G networks with smart campus applications, the initiative significantly enhances school management efficiency and teaching quality, facilitating comprehensive improvements in both teaching methodologies and administrative processes. Additionally, Edubile has introduced Hong Kong's first-ever "5G+Green Technology" course, entitled "Smart Green Campus". This pioneering programme combines 5G technology, the Internet of Things (IoT), and artificial intelligence to assist teachers and students in collaboratively designing campus-based Chinese medicinal gardens and environmentally friendly gardens. The curriculum not only deepens students' appreciation of traditional Chinese medicine culture but also cultivates their environmental awareness and innovative thinking through practical technological applications, achieving interdisciplinary educational innovation. Looking forward, China Mobile Hong Kong will continue to deepen the integration of 5G+AI technologies with innovation and technology education. Through organising diverse educational activities and developing advanced smart educational solutions, CMHK is committed to supporting the creation of a sustainable technology education ecosystem in Hong Kong, nurturing digitally competitive talent for the society of tomorrow.About China Mobile Hong Kong LimitedChina Mobile Hong Kong Company Limited ("CMHK") is the wholly-owned subsidiary of China Mobile Limited (HKEx: 941), which is listed on the Fortune Global 500. CMHK was incepted in January 1997 and was the first mobile network operator to launch PCS services in Hong Kong. As the world's leading mobile network brand with the largest customer base*, The Company offers innovative and comprehensive communications services, including voice, data, IDD and international roaming through 5G, 4G LTE and 3GHSPA and other technologies. The Company is committed to the development of 5G with new technologies such as artificial intelligence, internet of things, cloud computing and big data, integrating 5G applications in different industries, promoting the construction and development of smart city groups in Greater Bay Area. *China Mobile (Hong Kong) Limited is a wholly-owned subsidiary of China Mobile Limited. As of 31 December 2023, China Mobile Limited had the largest number of mobile network subscribers in the world.
Cyberport, Negawatt, and Our Hong Kong Foundation Join Forces to Promote Positive Education and Sustainable DevelopmentHONG KONG SAR - Media OuReach Newswire - 24 March 2025 - Cyberport, Negawatt Utility Limited (Negawatt), and Our Hong Kong Foundation are delighted to announce that the "Live Local+ @CCF 2025: Positive Education Symposium" was successfully held on March 22, 2025, at Cyberport Arcade's Atrium. This event marked the launch of the "Live Local+" initiative, supported by the Committee on Home-School Co-operation, the Hong Kong Association of the Heads of Secondary Schools, the United Nations Global Leadership and ESG Programme, and the Federation of Parent-Teacher Associations of the 18 Districts. The initiative aims to enhance the mental and physical well-being of Hong Kong students, parents, and educators while promoting green living through positive education and sustainable development. Mr. Eugene Fong, Chairman of the Committee on Home-School Co-operation; Mr. Ricky Choi, Director of Smart Living at Cyberport; Mr. Victor Kwok, Deputy Head of Research at Our Hong Kong Foundation; Mr. Arthur Lam, Founder and CEO of Negawatt; and representatives from the Federation of Parent-Teacher Associations of the 18 Districts jointly officiated the launch of "Live Local+." The "Live Local+" initiative aligns with the Education Bureau's "4Rs Mental Health Charter" and Environmental, Social, and Governance (ESG) principles. Leveraging cutting-edge digital technology and data, it promotes the concept of Eudaimonic Happiness, fostering positive family relationships to support academic growth and encouraging sustainable behaviors outside the classroom. In its first year, the initiative targets providing free support to 50 schools for transformation, with plans to expand to 300 schools within three years. The seminar attracted over 80 educators, policymakers, industry leaders, and community stakeholders, who gathered to explore the future of positive education and sustainable development. Mr. Ricky Choi, Director of Smart Living at Cyberport (far left), and Mr. Arthur Lam, Founder and CEO of Negawatt (far right), posed with distinguished speakers, including Ms. Stephanie Au, five-time Olympic swimmer (second from right); Ms. Camille Cheng, Hong Kong swimmer (second from left); Ms. Piano Mok (third from right); and Ms. Lydia Chan (third from left). Event Highlights The event took place from 11:00 AM to 2:00 PM, featuring several engaging segments: Opening Remarks: Mr. Eugene Fong, Chairman of the Committee on Home-School Co-operation, delivered the opening speech, joined by Mr. Ricky Choi, Director of Smart Living at Cyberport; Mr. Victor Kwok, Deputy Research Director at Our Hong Kong Foundation; Mr. Johnny Chong, Hong Kong Director of the United Nations Global Leadership and ESG Programme; and Mr. Arthur Lam, Founder and CEO of Negawatt and ZERO2 App. They shared insights on positive education and ESG, emphasizing their positive impact on Hong Kong's education system and sustainable development. Launch Ceremony: A grand launch ceremony was held, led by the host with a countdown. Representatives from the Committee on Home-School Co-operation, the Hong Kong Association of the Heads of Secondary Schools, the United Nations Global Leadership and ESG Programme, the Federation of Parent-Teacher Associations of the 18 Districts, and prominent speakers took the stage together to officially launch "Live Local+," symbolizing a new chapter in education and sustainability. Star Speaker Sharing: Several distinguished speakers inspired attendees: - Ms. Stephanie Au, a five-time Hong Kong Olympic swimmer, shared her experiences with resilience and personal growth. - Ms. Camille Cheng, a three-time Hong Kong Olympic swimmer, discussed the importance of relaxation for mental and physical balance. - Ms. Piano Mok, an expert in arts and etiquette, explored the role of relationships in positive education. - Ms. Lydia Chan, a holistic sleep therapist for adults and children, highlighted the value of rest for mental health. Social Enterprises and Hong Kong Local Brands: Representatives from Hong Kong social enterprises and Hong Kong Local brands, including Hello Cocoa, Broken Fingers, Gift N Take, Re Pillow Co., Fair Taste, and Superwrap, showcased their contributions to sustainable development and community empowerment, demonstrating the tangible impact of ESG initiatives. Synergy of Cyberport, Negawatt, and Our Hong Kong Foundation The event exemplified the collaborative strengths of Cyberport, Negawatt, and Our Hong Kong Foundation: - Cyberport, Hong Kong's digital technology flagship and startup incubator, hosts over 2,000 community enterprises. It drives green economic growth and smart city development by supporting innovative tech solutions for smart living and sustainability. - Negawatt, through its ZERO2 app, enables schools and participants to record and quantify ESG behaviors, particularly assessing the engagement of school stakeholders (students, parents, and educators) in positive education. This fosters green living and holistic student development. - Our Hong Kong Foundation offers fresh perspectives on Hong Kong's education and sustainability through policy research and cultural promotion. Together, the three entities are building a future centered on positive education and sustainable development. Mr. Eugene Fong, Chairman of the Committee on Home-School Co-operation, said: "The Committee has long been committed to fostering home-school collaboration to promote positive education and character development. 'Live Local+' integrates technology and education, providing an essential platform for parents, schools, and students. The pandemic reshaped family-school communication, underscoring the importance of collaboration. Today, students connect with the world through smartphones and social media, often beyond parents' full understanding. Positive education is vital in this complex world, guiding children with the right values. 'Live Local+' drives cross-sector collaboration, injecting new energy into Hong Kong's education ecosystem." Mr. Ricky Choi, Director of Smart Living at Cyberport, remarked: "Cyberport is thrilled to host both the 'Live Local+ @CCF 2025: Positive Education Seminar' and a recruitment expo on the same day, both closely tied to positive education and talent nurturing. As a cradle for Hong Kong's tech talent, Cyberport recognizes the importance of talent to societal progress and the qualities future leaders need. 'Live Local+' not only provides a platform for educating the next generation but also fosters collaboration across families and schools, laying the foundation for Hong Kong's talent pool." Mr. Victor Kwok, Deputy Head of Research at Our Hong Kong Foundation, stated: "Education, technology, and talent are interconnected and inseparable. 'Live Local+' is a rare initiative that uses a data-driven platform for two-way interaction, uniting stakeholders to advance positive education. Beyond policy research, this program offers practical value, demonstrating how to integrate Chinese culture with positive education. We look forward to further collaboration with partners to contribute to Hong Kong's education and sustainability." Mr. Arthur Lam, Founder and CEO of Negawatt and ZERO2, added: "Currently, the impact of positive education is challenging to quantify and document effectively. Through the ZERO2 app, 'Live Local+' serves as a tech platform that digitizes positive education and ESG behaviors for students, teachers, and parents. With diverse activities and tasks, it enables them to easily track and measure their positive values and ESG impact both in and out of school. This helps students and parents apply their learning while allowing schools to build a digital record of ESG and positive education efforts. The core of 'Live Local+' lies in fostering happiness, social value, and well-being through a systematic, inclusive, and participatory approach to sustainable development and positive education." Looking Ahead Cyberport, Negawatt, and Our Hong Kong Foundation will continue their close partnership to raise awareness of positive education and sustainability through "Live Local+." By integrating education with technology, they aim to empower Hong Kong's education sector and youth to create a brighter future. Hashtag: #CCF2025The issuer is solely responsible for the content of this announcement.Negawatt Utility Limited, ZERO2Negawatt Utility Limited is an AIoT (Artificial Intelligence of Things) technology company specializing in ESG and smart living/smart city solutions. We leverage property technology to drive digital transformation for property owners and building users, delivering measurable ESG impact. In 2023, we launched ZERO2, a B2B2C ESG gamification app, to help schools and businesses digitally track and quantify ESG behaviors, enhancing stakeholder engagement. ZERO2 has successfully provided ESG digitalization and employee engagement solutions for organizations such as the Hong Kong Housing Society, Zurich Insurance, DBS Bank, and others, supporting their sustainability goals. ZERO2 enables schools and businesses to design customized ESG missions, quantify carbon reduction behaviors, and generate regular ESG data reports to track and showcase their impact. Additionally, through merchant discounts and reward mechanisms, ZERO2 encourages individual users to participate in green consumption and low-carbon actions, collectively advancing sustainability. Our efforts have been widely recognized, recently earning the 2025 WISDP World Sustainable Development Planners Association "Outstanding Award for Quality Education Innovation and Technology," highlighting our innovative contributions to ESG education and technology. CyberportCyberport is Hong Kong's digital technology flagship and incubator for entrepreneurship with over 2,000 members including over 900 onsite and close to 1,100 offsite start-ups and technology companies. It is managed by Hong Kong Cyberport Management Company Limited, wholly owned by the Hong Kong SAR Government. With a vision to be the hub for digital technology, thereby creating a new economic driver for Hong Kong, Cyberport is committed to nurturing a vibrant tech ecosystem by cultivating talent, promoting entrepreneurship among youth, supporting start-ups, fostering industry development by promoting strategic collaboration with local and international partners, and integrating new and traditional economies by accelerating digital transformation in public and private sectors. Our Hong Kong FoundationOur Hong Kong Foundation (OHKF) is a non-government, non-profit organisation founded in November 2014 by Honourary Chairman Mr Tung Chee-hwa, former Vice Chairman of the National Committee of the Chinese People's Political Consultative Conference and former Chief Executive of the Hong Kong Special Administrative Region. OHKF aims to contribute to Hong Kong's prosperity and stability as well as its sustainable development under the "One Country, Two Systems" principle.
BEIJING, CHINA - Media OutReach Newswire - 22 March 2025 - Geely has long invested more than ten billion yuan ($1,381 million) in the education field, and established a total of seven colleges and universities, enrolling over 90,000 students and training more than 200,000 graduates, 80 percent of whom are employed in related industries in China. "I intend to dedicate more energy to education and nurturing talent, helping the next generation grow," said Li Shufu, chairman of Zhejiang Geely Holding Group, at an interview with China News Service. In Li Shufu's view, an important factor for the healthy and sustainable development of Geely's automobile industry is the integration of industry and education. Over the past 30 years, Geely and its strategic partners have established over 30 major categories and 300 types of vocational positions for Geely's colleges and universities. This initiative covers most academic disciplines and has resulted in the creation of more than 20 modern industrial colleges in collaboration with these institutions. "As long as I can train students, observe their growth, and witness their development, I am very happy," said Li. Li got involved in the automotive industry in 1996, a time when car manufacturing was dominated by state-owned enterprises, but he firmly believed that it was by no means impossible for private enterprises to make cars. "My idea was that we should strive to make Chinese cars renowned worldwide rather than allowing global cars to merely fill the streets of China," he said. In a forty-year effort, Li witnessed the first appearance of Chinese cars at an international auto show, led his company to acquire Western car manufacturers, and strengthened automotive research and development through satellite research and development. He has turned each of his "wildest dreams" into reality. Hashtag: #ChinaNewsServiceThe issuer is solely responsible for the content of this announcement.
SINGAPORE, March 21, 2025 /PRNewswire/ -- 51Talk Online Education Group ("51Talk" or the "Company") (NYSE American: COE), a global online education platform with core expertise in English education, announced its unaudited results for the fourth quarter and full year ended December 31, 2024. Full Year 2024 Financial and Operating Highlights Gross billings[1] for 2024 were US$69.6 million, a 74.4% growth from 2023. Net revenues were US$50.7 million for 2024, an 87.0% increase from US$27.1 million for 2023. The number of active students with attended lesson consumption was approximately 95,000 in 2024, representing an 87.0% increase from approximately 50,800 in 2023. Fourth Quarter 2024 Financial and Operating Highlights Gross billings for the fourth quarter of 2024 were US$21.4 million, a 93.4% growth from the fourth quarter of 2023. Net revenues were US$16.2 million for the fourth quarter of 2024, a 117.3% increase from US$7.5 million for the fourth quarter of 2023. The number of active students with attended lesson consumption was approximately 74,200 in the fourth quarter of 2024, representing an 83.2% increase from approximately 40,500 for the fourth quarter of 2023. Key Financial and Operating Data For the three months ended For the year ended Jun. 30, Sept. 30, Dec. 31, Dec. 31, 2024 2024 2024 2024 Net Revenues (in US$ millions) 11.0 14.0 16.2 50.7 Gross Margin 78.1 % 78.7 % 77.5 % 78.0 % Gross Billings (in US$ millions) 15.9 19.8 21.4 69.6 Active students with attended lesson consumption[2] (in thousands) 54.4 65.7 74.2 95.0 [1] Gross billings for a given period, which is one of the Company's key operating data, is defined as the total amount of cash received and receivable from third party payment platforms for the sale of course packages and services in such period, net of the total amount of refunds in such period. The gross billings data included herein was from the Company's business system and converted with quarterly corresponding exchange rate, which may lead to differences with bank records. [2] An "active student with attended lesson consumption" for a given period refers to a student who attended at least one paid lesson, excluding those students who only attended paid live broadcasting lessons or trial lessons. "We concluded FY24 with gross billings growing by 74.4% year-over-year and net revenues increasing by 87.0% year-over-year. Even more encouraging is that we achieved this while strengthening our cash position, delivering a full year positive operating cash flow of US$5.8 million," stated Jack Jiajia Huang, Founder, Chairman, and Chief Executive Officer of 51Talk. "Throughout FY24, we made significant progress in building out our local teams and developing more localized marketing and product content. We are also expanding into new geographic markets to drive further growth." "In 2024, we've already seen the benefits of integrating AI into our operations, reflected in the improvement of operational efficiency and a narrowing of operating losses. We believe 2025 will continue to be a pivotal year for AI adoption and further efficiency improvements. Specifically, AI will enable more personalized course plans and exercises tailored to students' proficiency levels, as well as enhanced progress tracking," concluded Jack Jiajia Huang. Fourth Quarter 2024 Financial Results Net Revenues and Gross Margin Net revenues for the fourth quarter of 2024 were US$16.2 million, a 117.3% increase from US$7.5 million for the same quarter last year. The number of active students with attended lesson consumption was approximately 74,200 in the fourth quarter of 2024, an 83.2% increase from approximately 40,500 for the same quarter last year. Cost of revenues for the fourth quarter of 2024 was US$3.7 million, a 95.4% increase from US$1.9 million for the same quarter last year. The increase was primarily due to the increase in total service fees paid to teachers, mainly resulting from an increased number of paid lessons. Gross profit for the fourth quarter of 2024 was US$12.6 million, a 124.6% increase from US$5.6 million for the same quarter last year. Gross margin for the fourth quarter of 2024 was 77.5%, compared with 75.0% for the same quarter last year. Operating Expenses Total operating expenses for the fourth quarter of 2024 were US$13.4 million, a 35.6% increase from US$9.9 million for the same quarter last year. The increase was mainly due to the increase in sales and marketing expenses. Sales and marketing expenses for the fourth quarter of 2024 were US$10.1 million, a 40.9% increase from US$7.2 million for the same quarter last year. The increase was mainly due to higher sales personnel costs related to increases in the number of sales and marketing personnel and higher marketing expenses. Excluding share-based compensation expenses, non-GAAP sales and marketing expenses for the fourth quarter of 2024 were US$10.1 million, a 41.1% increase from US$7.2 million for the same quarter last year. Product development expenses for the fourth quarter of 2024 were US$0.9 million, an 8.0% increase from US$0.9 million for the same quarter last year. Excluding share-based compensation expenses, non-GAAP product development expenses for the fourth quarter of 2024 were US$0.9 million, a 10.0% increase from US$0.8 million for the same quarter last year. General and administrative expenses for the fourth quarter of 2024 were US$2.4 million, a 28.0% increase from US$1.9 million for the same quarter last year. Excluding share-based compensation expenses, non-GAAP general and administrative expenses for the fourth quarter of 2024 were US$2.2 million, a 32.2% increase from US$1.7 million for the same quarter last year. Loss from Operations Operating loss for the fourth quarter of 2024 was US$0.9 million, compared with operating loss of US$4.3 million for the same quarter last year. Non-GAAP operating loss for the fourth quarter of 2024 was US$0.7 million, compared with non-GAAP operating loss of US$4.1 million for the same quarter last year. Net Loss Attributable to the Company's Ordinary Shareholders Net loss attributable to the Company's ordinary shareholders for the fourth quarter of 2024 was US$1.4 million, compared with net loss of US$5.7 million for the same quarter last year. Excluding share-based compensation expenses of US$0.2 million, non-GAAP net loss attributable to the Company's ordinary shareholders for the fourth quarter of 2024 was US$1.2 million, compared with non-GAAP net loss of US$5.4 million for the same quarter last year. Basic and diluted net loss per share attributable to ordinary shareholders for the fourth quarter of 2024 was US$0.004, compared with basic and diluted net loss per share of US$0.02 for the same quarter last year. Excluding share-based compensation expenses of US$0.2 million, non-GAAP basic and diluted net loss per share attributable to ordinary shareholders for the fourth quarter of 2024 was US$0.003, compared with non-GAAP basic and diluted net loss per share attributable to ordinary shareholders of US$0.02 for the same quarter last year. Basic and diluted net loss per American depositary share ("ADS") attributable to ordinary shareholders for the fourth quarter of 2024 was US$0.24, compared with basic and diluted net loss per ADS of US$0.99 for the same quarter last year. Each ADS represents 60 Class A ordinary shares. Excluding share-based compensation expenses of US$0.2 million, non-GAAP basic and diluted net loss per ADS attributable to ordinary shareholders for the fourth quarter of 2024 was US$0.20, compared with non-GAAP basic and diluted net loss per ADS attributable to ordinary shareholders of US$0.95 for the same quarter last year. Balance Sheet As of December 31, 2024, the Company had total cash, cash equivalents, time deposits of US$29.2 million, compared with US$23.4 million as of December 31, 2023. The Company had advances from students[3] of US$45.1 million as of December 31, 2024, compared with US$27.2 million as of December 31, 2023. [3] "Advances from students" is defined as the amount of obligation to transfer goods or service to students or business partners for which consideration has been received from students in advance. The deposits from students are also presented in the total amount of "advances from students." Full Year 2024 Financial Results Net Revenues and Gross margin Net revenues for 2024 were US$50.7 million, an 87.0% increase from US$27.1 million for 2023. The number of active students with attended lesson consumption was approximately 95,000 for 2024, an 87.0% increase from approximately 50,800 for the last year. Cost of revenues for 2024 was US$11.2 million, a 76.6% increase from US$6.3 million for 2023. The increase was primarily due to the increase in total service fees paid to teachers, mainly resulting from an increased number of paid lessons. Gross profit for 2024 was US$39.5 million, a 90.1% increase from US$20.8 million for 2023. Gross margin for 2024 was 78.0%, compared with 76.7% for 2023. Operating Expenses Total operating expenses for 2024 were US$47.6 million, a 38.1% increase from US$34.5 million for 2023. The increase was mainly due to the increase in sales and marketing expenses and general and administrative expenses. Sales and marketing expenses for 2024 were US$33.4 million, a 41.3% increase from US$23.6 million for 2023. The increase was mainly due to higher sales personnel costs related to the increase in the number of sales and marketing personnel and the increased in marketing expenses. Excluding share-based compensation expenses, non-GAAP sales and marketing expenses for 2024 were US$33.3 million, a 41.6% increase from US$23.5 million for 2023. Product development expenses for 2024 were US$3.6 million, a 15.6% increase from US$3.1 million for 2023. Excluding share-based compensation expenses, non-GAAP product development expenses for 2024 were US$3.5 million, a 18.7% increase from US$2.9 million for 2023. General and administrative expenses for 2024 were US$10.6 million, a 37.4% increase from US$7.7 million for 2023. The increase was primarily due to higher administrative personnel costs related to the increase in the number of general and administrative personnel. Excluding share-based compensation expenses, non-GAAP general and administrative expenses for 2024 were US$9.9 million, a 38.8% increase from US$7.1 million for 2023. Loss from Operations Operating loss for 2024 was US$8.0 million, compared with operating loss of US$13.7 million for 2023. Excluding share-based compensation expenses of US$0.9 million, non-GAAP operating loss for 2024 was US$7.1 million, compared with non-GAAP operating loss of US$12.8 million for 2023. Net Loss Attributable to the Company's Ordinary Shareholders Net loss for 2024 was US$7.2 million, compared with net loss of US$15.0 million for 2023. Excluding share-based compensation expenses of US$0.9 million, non-GAAP net loss for 2024 was US$6.3 million, compared with non-GAAP net loss of US$14.1 million. Basic and diluted net loss per share attributable to ordinary shareholders for 2024 was US$0.02, compared with basic and diluted net loss per share of US$0.04 for 2023. Excluding share-based compensation expenses of US$0.9 million, non-GAAP basic and diluted net loss per share attributable to ordinary shareholders for 2024 was US$0.02, compared with non-GAAP basic and diluted net loss per share attributable to ordinary shareholders of US$0.04 for 2023. Basic and diluted net loss per American depositary share attributable to ordinary shareholders for 2024 was US$1.25, compared with basic and diluted net loss per ADS of US$2.64 for 2023. Each ADS represents 60 Class A ordinary shares. Excluding share-based compensation expenses of US$0.9 million, non-GAAP basic and diluted net loss per ADS attributable to ordinary shareholders for 2024 was US$1.09, compared with non-GAAP basic and diluted net loss per ADS attributable to ordinary shareholders of US$2.48 for 2023. Outlook For the first quarter of 2025, the Company currently expects net gross billings to be between US$21.5 million and US$22.0 million, which would represent a sequential growth of 0.5% to 2.9% and an increase of approximately 71.2% to 75.2% from the same quarter last year. The above outlook is based on current market conditions and reflects the Company's current and preliminary estimates of market and operating conditions and customer demand, which are all subject to change. Conference Call The Company's management will host an earnings conference call at 8:00 AM U.S. Eastern Time on March 21, 2025 (8:00 PM Singapore/Hong Kong time on March 21, 2025). Dial-in details for the earnings conference call are as follows: United States (toll free): 1-888-346-8982 International: 1-412-902-4272 Singapore (toll free): 800-120-6157 Mainland China (toll free): 4001-201203 Hong Kong (toll free): 800-905945 Hong Kong (local toll): 852-301-84992 Participants should dial-in at least 5 minutes before the scheduled start time and ask to be connected to the call for "51Talk Online Education Group." Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at http://ir.51talk.com. A replay of the conference call will be accessible until March 28, 2025, by dialing the following telephone numbers: United States (toll free): 1-877-344-7529 International: 1-412-317-0088 Replay Access Code: 2569063 About 51Talk Online Education Group 51Talk Online Education Group (NYSE American: COE) is a global online education platform with core expertise in English education. The Company's mission is to make quality education accessible and affordable. The Company's online and mobile education platforms enable students to take live interactive English lessons, on demand. The Company connects its students with a large pool of highly qualified teachers that it assembled using a shared economy approach, and employs student and teacher feedback and data analytics to deliver a personalized learning experience to its students. Use of Non-GAAP Financial Measures In evaluating its business, 51Talk considers and uses the following measures defined as non-GAAP financial measures by the SEC as supplemental metrics to review and assess its operating performance: non-GAAP sales and marketing expenses, non-GAAP product development expenses, non-GAAP general and administrative expenses, non-GAAP operating expenses, non-GAAP operating income/(loss), non-GAAP net income/(loss), non-GAAP net income/(loss) attributable to ordinary shareholders, and non-GAAP net income/(loss) attributable to ordinary shareholders per share and per ADS. To present each of these non-GAAP measures, the Company excludes share-based compensation expenses. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures, please see the table captioned "Reconciliations of non-GAAP measures to the most comparable GAAP measures" set forth at the end of this press release. 51Talk believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance by excluding share-based compensation expenses that may not be indicative of its operating performance from a cash perspective. 51Talk believes that both management and investors benefit from these non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management's internal comparisons to 51Talk's historical performance. 51Talk computes its non-GAAP financial measures using the same consistent method from quarter to quarter and from period to period. 51Talk believes these non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision-making. A limitation of using non-GAAP measures is that these non-GAAP measures exclude share-based compensation expenses that have been and will continue to be for the foreseeable future a significant recurring expense in the 51Talk's business. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying table at the end of this press release provides more details on the reconciliations between GAAP financial measures that are most directly comparable to non-GAAP financial measures. Safe Harbor Statement This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will", "expects", "anticipates", "aims", "future", "intends", "plans", "believes", "estimates", "likely to" and similar statements. Among other things, 51Talk's quotations from management in this announcement, as well as 51Talk's strategic and operational plans, contain forward-looking statements. 51Talk may also make written or oral forward-looking statements in its periodic reports to the Securities and Exchange Commission ("SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about 51Talk's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. 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: 51Talk's goals and strategies; 51Talk's expectations regarding demand for and market acceptance of its brand and platform; 51Talk's ability to retain and increase its student enrollment; 51Talk's ability to offer new courses; 51Talk's ability to engage, train and retain new teachers; 51Talk's future business development, results of operations and financial condition; 51Talk's ability to maintain and improve infrastructure necessary to operate its education platform; competition in the online education industry in its international markets; the expected growth of, and trends in, the markets for 51Talk's course offerings in its international markets; relevant government policies and regulations relating to 51Talk's corporate structure, business and industry; general economic and business condition in the Philippines, its international markets and elsewhere; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in 51Talk's filings with the SEC. All information provided in this press release is as of the date of this press release, and 51Talk does not undertake any obligation to update any forward-looking statement, except as required under applicable law. 51TALK ONLINE EDUCATION GROUP UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) As of Dec. 31, Dec. 31, 2023 2024 US$ US$ ASSETS Current assets Cash and cash equivalents 21,298 27,758 Time deposits 2,091 1,430 Prepaid expenses and other current assets 6,394 10,906 Total current assets 29,783 40,094 Non-current assets Property and equipment, net 138 363 Intangible assets, net 92 80 Right-of-use assets 723 2,888 Deferred tax assets 72 57 Other non-current assets 348 460 Total non-current assets 1,373 3,848 Total assets 31,156 43,942 LIABILITIES AND SHAREHOLDERS' DEFICITS Current liabilities Advances from students 27,214 45,064 Accrued expenses and other current liabilities 6,189 6,644 Amounts due to related parties 4,077 2,853 Lease liabilities 590 1,242 Taxes payable 1,060 1,100 Total current liabilities 39,130 56,903 Non-current liabilities Lease liabilities 41 1,441 Other non-current liabilities 176 310 Total non-current liabilities 217 1,751 Total liabilities 39,347 58,654 Total shareholders' deficits (8,340) (15,000) Noncontrolling interests 149 288 Total deficits (8,191) (14,712) Total liabilities and shareholders' deficits 31,156 43,942 51TALK ONLINE EDUCATION GROUP UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands except for number of shares and per share data) For the three months ended For the year ended Dec. 31, Sep. 30, Dec. 31, Dec. 31, Dec. 31, 2023 2024 2024 2023 2024 US$ US$ US$ US$ US$ Net revenues 7,471 14,047 16,236 27,111 50,692 Cost of revenues (1,868) (2,985) (3,651) (6,322) (11,164) Gross profit 5,603 11,062 12,585 20,789 39,528 Operating expenses Sales and marketing expenses (7,182) (8,171) (10,121) (23,637) (33,388) Product development expenses (864) (839) (933) (3,088) (3,571) General and administrative expenses (1,867) (2,838) (2,389) (7,727) (10,615) Total operating expenses (9,913) (11,848) (13,443) (34,452) (47,574) Loss from operations (4,310) (786) (858) (13,663) (8,046) Interest income 67 57 27 165 229 Other expenses/(income), net (1,253) 145 (421) (1,416) 771 Loss before income tax expenses (5,496) (584) (1,252) (14,914) (7,046) Income tax expenses (171) (51) (162) (118) (276) Net loss (5,667) (635) (1,414) (15,032) (7,322) Net loss attributable to noncontrolling interests - (17) (36) - (87) Net loss attributable to the Company's ordinary shareholders (5,667) (618) (1,378) (15,032) (7,235) Weighted average number of ordinary shares used in computing basic and diluted loss per share 342,841,445 347,705,165 348,918,600 341,070,214 347,119,359 51TALK ONLINE EDUCATION GROUP UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands except for number of shares and per share data) For the three months ended For the year ended Dec. 31, Sep. 30, Dec. 31, Dec. 31, Dec. 31, 2023 2024 2024 2023 2024 US$ US$ US$ US$ US$ Net loss per share attributable to ordinary shareholders Basic and diluted (0.02) (0.00) (0.00) (0.04) (0.02) Net loss per ADS attributable to ordinary shareholders Basic and diluted (0.99) (0.11) (0.24) (2.64) (1.25) Share-based compensation expenses are included in the operating expenses as follows: Sales and marketing expenses (31) (27) (30) (149) (117) Product development expenses (45) (29) (32) (179) (118) General and administrative expenses (170) (149) (145) (582) (699) 51TALK ONLINE EDUCATION GROUP Reconciliation of Non-GAAP Measures to the Most Comparable GAAP Measures (In thousands except for number of shares and per share data) For the three months ended For the year ended Dec. 31, Sep. 30, Dec. 31, Dec. 31, Dec. 31, 2023 2024 2024 2023 2024 US$ US$ US$ US$ US$ Sales and marketing expenses (7,182) (8,171) (10,121) (23,637) (33,388) Less: Share-based compensation expenses (31) (27) (30) (149) (117) Non-GAAP sales and marketing expenses (7,151) (8,144) (10,091) (23,488) (33,271) Product development expenses (864) (839) (933) (3,088) (3,571) Less: Share-based compensation expenses (45) (29) (32) (179) (118) Non-GAAP product development expenses (819) (810) (901) (2,909) (3,453) General and administrative expenses (1,867) (2,838) (2,389) (7,727) (10,615) Less: Share-based compensation expenses (170) (149) (145) (582) (699) Non-GAAP general and administrative expenses (1,697) (2,689) (2,244) (7,145) (9,916) Operating expenses (9,913) (11,848) (13,443) (34,452) (47,574) Less: Share-based compensation expenses (246) (205) (207) (910) (934) Non-GAAP operating expenses (9,667) (11,643) (13,236) (33,542) (46,640) Loss from operations (4,310) (786) (858) (13,663) (8,046) Less: Share-based compensation expenses (246) (205) (207) (910) (934) Non-GAAP loss from operations (4,064) (581) (651) (12,753) (7,112) 51TALK ONLINE EDUCATION GROUP Reconciliation of Non-GAAP Measures to the Most Comparable GAAP Measures (In thousands except for number of shares and per share data) For the three months ended For the year ended Dec. 31, Sep. 30, Dec. 31, Dec. 31, Dec. 31, 2023 2024 2024 2023 2024 US$ US$ US$ US$ US$ Income tax expenses (171) (51) (162) (118) (276) Less: Tax impact of Share-based compensation expenses - - - - - Non-GAAP income tax expenses (171) (51) (162) (118) (276) Net loss, all attributable to the Company's ordinary shareholders (5,667) (618) (1,378) (15,032) (7,235) Less: Share-based compensation expenses (246) (205) (207) (910) (934) Non-GAAP net loss, all attributable to theCompany's ordinary shareholders (5,421) (413) (1,171) (14,122) (6,301) Weighted average number of ordinary shares used in computing basic and diluted loss per share 342,841,445 347,705,165 348,918,600 341,070,214 347,119,359 Non-GAAP net loss per share attributable to ordinary shareholders Basic and Diluted (0.02) (0.00) (0.00) (0.04) (0.02) Non-GAAP net loss per ADS attributable to ordinary shareholders Basic and Diluted (0.95) (0.07) (0.20) (2.48) (1.09)
Expanded shareholder group, led by global investors including Neuberger Berman Private Markets, CPP Investments, CF Alba and Dubai Holding, brings deep expertise and long-term capital to support Nord Anglia's continued expansion and innovation in premium education USD 14.5 billion transaction reflects Nord Anglia's leadership in delivering world-class education and its position as a premier global institution The depth and diversity of global financial asset managers and institutions in Nord Anglia's expanded shareholder base enhance its long-term resilience, introduce fresh strategic capital and create new pathways for innovation and growth LONDON, March 20, 2025 /PRNewswire/ -- EQT, as part of a global consortium of premier institutional investors including Neuberger Berman Private Markets, Canada Pension Plan Investment Board ("CPP Investments"), Corporación Financiera Alba, S.A. ("CF Alba") and Dubai Holding Investments ("Dubai Holding") (collectively the "Consortium"), today announced the successful completion of the Consortium's acquisition of Nord Anglia Education ("Nord Anglia" or the "Company"), valuing the business at USD 14.5 billion.This transaction marks a significant milestone in Nord Anglia's evolution as a global leader in private international education. Operating over 80 schools in 33 countries, Nord Anglia educates more than 90,000 students from ages 2 to 18. Its students consistently achieve excellent academic results, with Year 12 graduates frequently accepted into the world's top 100 universities. Central to Nord Anglia's educational philosophy is its personalized learning approach, where classroom teaching is tailored to each student's unique learning style.Alongside EQT, Neuberger Berman Private Markets, CPP Investments, CF Alba and Dubai Holding, the completion of Nord Anglia's acquisition also introduces a distinguished group of global financial asset managers or institutions which significantly broadens and strengthens the Company's ownership structure. This group includes sovereign wealth funds, insurers, and family offices across Asia, the Middle East, Europe, and North America, which not only enhances Nord Anglia's long-term stability as a private company but also brings new strategic perspectives, resources, and capital to drive its continued growth. The strong momentum and commitment from these investors reflect the exceptional quality of the organization and confidence in its long-term trajectory.EQT has been a dedicated partner to Nord Anglia since 2008 and further strengthened its commitment in 2017, when CPP Investments joined as an investor. Over this period, EQT has played a central role in strategic M&A, helping Nord Anglia successfully execute more than 21 acquisitions since 2017 that have significantly expanded its footprint and earnings. Additionally, EQT has worked closely with Nord Anglia to invest in digital initiatives, enhancing both the student learning experience and operational efficiencies. Under EQT's ownership, Nord Anglia has also established an innovative collaboration model with world-renowned institutions, further elevating its reputation for academic excellence. Its partners include UNICEF, Juilliard, MIT, IMG Academy, King's College London, and Project Zero, a research center at the Harvard Graduate School of Education.Neuberger Berman, CF Alba, Dubai Holding and other leading global investors now join EQT and CPP Investments to further strengthen Nord Anglia's position as a sophisticated, globally integrated premium education group. With a commitment to supporting both organic growth and strategic acquisitions, the Consortium ensures Nord Anglia remains well-positioned for continued innovation, expansion, and leadership in the evolving global education landscape.Jean Eric Salata, Chairperson of EQT Asia and Head of Private Capital Asia, said, "EQT is proud to be a long-term partner to Nord Anglia and to continue supporting its evolution as a world-leading premium education platform. This transaction not only delivers a strong outcome and a successful exit for BPEA Private Equity Fund VI but also marks a defining moment for EQT, as we align with a distinguished group of global investors who share a deep commitment to Nord Anglia's mission. The strength and diversity of this expanded shareholder base will reinforce the company's long-term stability, provide additional strategic capital, and unlock new opportunities for innovation. We look forward to this next chapter and to seeing Nord Anglia continue to set new benchmarks in academic excellence and global impact."Jack Hennessy, Partner at EQT Private Equity, said, "Nord Anglia is an outstanding institution that has set new standards for excellence in global private education. For more than 16 years, we've worked closely with the company's exceptional management team to expand its reach and elevate its academic offering. With the completion of this transaction, we are excited to continue this journey with Neuberger Berman, CPP Investments, CF Alba, Dubai Holding and a world-class group of long-term institutional investors, ensuring Nord Anglia is well-positioned for its next stage of growth."Andrew Fitzmaurice, Chief Executive Officer of Nord Anglia Education, added, "We are delighted to partner with some of the world's most respected investors, who share our commitment to educational excellence. EQT has been an exceptional partner over the years, helping to strengthen our academic programs, invest in research and innovation, and expand our family of schools globally. With the support of our investor group, we are excited about the future and the opportunities this will create to further improve students' outcomes."EQT is investing in Nord Anglia through its BPEA Private Equity Fund VIII. ContactEQT Press Office, press@eqtpartners.com This information was brought to you by Cision http://news.cision.com https://news.cision.com/eqt/r/eqt-consortium-completes-acquisition-of-nord-anglia-education,c4121535 The following files are available for download: https://mb.cision.com/Main/87/4121535/3331621.pdf 250320 EQT Consortium Completes Acquisition of Nord Anglia https://news.cision.com/eqt/i/avenues-new-york---nae,c3388678 Avenues New York - NAE
Earnings Call Scheduled for 8:00 a.m. ET on March 21, 2025 SINGAPORE, March 19, 2025 /PRNewswire/ -- 51Talk Online Education Group ("51Talk", or the "Company") (NYSE American: COE), a global online education platform with core expertise in English education, today announced that it will report its unaudited financial results for the fourth quarter and full year ended December 31, 2024 on Friday, March 21, 2025, before the open of U.S. markets. The Company's management will host an earnings conference call at 8:00 a.m. U.S. Eastern Time on March 21, 2025 (8:00p.m. Singapore/Beijing/Hong Kong time on March 21, 2025). Dial-in details for the earnings conference call are as follows: United States Toll: 1-888-346-8982 International: 1-412-902-4272 Singapore (toll free): 800-120-6157 Mainland China Toll: 4001-201203 Hong Kong Toll: 800-905945 Hong Kong-Local Toll: 852-301-84992 Participants should dial-in at least 5 minutes before the scheduled start time and ask to be connected to the call for "51Talk Online Education Group". Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at http://ir.51talk.com. A replay of the conference call will be accessible approximately one hour after the conclusion of the live call until March 28, 2025, by dialing the following telephone numbers: United States Toll: 1-877-344-7529 International Toll: 1-412-317-0088 Canada Toll: 855-669-9658 Replay Access Code: 2569063 About 51Talk Online Education Group 51Talk Online Education Group (NYSE American: COE) is a global online education platform with core expertise in English education. The Company's mission is to make quality education accessible and affordable. The Company's online and mobile education platforms enable students to take live interactive English lessons on demand. The Company connects its students with a large pool of highly qualified teachers that it assembled using a shared economy approach, and employs student and teacher feedback and data analytics to deliver a personalized learning experience to its students. For more information, please visit http://ir.51talk.com.
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