Meten EdtechX Education Group Ltd. Provides Update of its K-12 Educational Services
Meten Holding Group Ltd. - Ordinary Shares (METX)
Company Research
Source: GlobeNewswire
SHENZHEN, China, Oct. 15, 2020 (GLOBE NEWSWIRE) -- Meten EdtechX Education Group Ltd. (Nasdaq: METX) (“Meten EdtechX” or the “Company”), a leading English language training (“ELT”) service provider in China, today provided update of its K-12 educational services, which were launched in July 2019 and recorded RMB 10 million of revenue in June 2020. Since July 2020, the average monthly revenue of Bingo, one of the Company’s language training services brand for middle and high school students, has exceeded RMB 4 million. Within three months, Bingo had achieved RMB 13 million in revenue, which represented a year-on-year growth of 544% and an average monthly compound growth rate of 65%. In addition, the number of Bingo’s student enrollment exceeded 600 and the number of sales terminals had soared from 12 to 60 per month. These achievements verified the potential of the high-end training market (customer unit price above RMB 20,000), and reflected the Company’s ability to acquire custome
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