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| | Mon May 2, 2016
China Education Resources Inc. Generated Revenues of $12,715,834 in 2015
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| | Vancouver, Canada - (May 2, 2016) - China Education Resources, Inc. ("CER") (TSXV: CHN, OTCQX: CHNUF), a leading technology and content provider of intelligent system, online learning, training courses and social media for teachers, students and education professionals, announced its financial results for the year ended December 31, 2015. All figures are expressed in U.S. dollars.
The 2015 financial highlights are as summarized as follows:
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2015 |
2014 |
Percentage |
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|
|
|
(USD) |
(USD) |
change |
| Consolidated Statements of Comprehensive Income |
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| Book sales and distribution services |
7,223,021 |
7,003,498 |
3.1% |
| Online products |
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5,492,813 |
3,697,164 |
48.6% |
| Total revenue |
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12,715,834 |
10,700,662 |
18.8% |
| Net loss attributable to shareholders of |
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| the Company |
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(395,519) |
(791,396) |
50.0% |
For the year ended December 31, 2015, CER reported aggregate sales revenue of $12,715,834 as compared to $10,700,662 for the same period in 2014, representing a 18.8% increase as a result of a 3.1% increase in book sales and distribution services and a 48.6% increase in sales of online products in 2015. The Company recognized a net loss for the year ended December 31, 2015 of $395,519 attributable to the shareholders as compared to a net loss of $791,396 attributable to the shareholders for the same period in 2014.
"We are pleased with the direction of our sales and operations. Our sales revenue continues to increase in 2015 and the Company's business growth plan has been implemented as planned." said Chengfeng Zhou, CEO, China Education Resources. "The 2015 business results further strengthen our confidence that our business will continue to grow in 2016."
Further to CER March 9, 2016 press release, we have started the soccer education program. The development of the soccer education program is doing very well and we will update to our shareholders shortly.
"We expect that our unique and comprehensive blend of education resources and services will generate more revenue, and we are encouraged by the increase in utilization of our internet platform and educational social network, which work together with our existing online/offline products."
In collaboration with China's education administrators and experts, China Education Resources has been helping to transform the curriculum of the world's largest educational system. Recognizing the need to address education reform changes, China Education Resources has created educational tools and curriculum for China's entire kindergarten through twelfth grade system. The Company is playing an integral part in transforming China's educational system by helping to convert the existing educational system from a memory-based learning system to a creative thinking and interactive approach. Presently, China Education Resources has over one million kindergartens through twelfth grade teachers registered through its web portal. For more information, please visit www.chinaeducationresources.com or call (604) 331-2388.
Safe Harbor Statement
Certain statements made herein, and other statements relating to matters that are not historical facts and statements of our beliefs, intentions and expectations about developments, results and events which will or may occur in the future, constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information and statements are typically identified by words such as "anticipate", "could", "should", "expect", "seek", "may", "intend", "likely", "plan", "estimate", "will", "believe" and similar expressions suggesting future outcomes or statements regarding an outlook. All such forward-looking information and statements are based on certain assumptions and analysis made by China Education Resources, Inc.'s management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include those described under the heading "Risks and Uncertainties" elsewhere in the Company's MD&A filed at www.SEDAR.com. The reader is cautioned not to place undue reliance on forward-looking information or statements. Except as required by law the Company does not assume the obligation to revise or update these forward looking statements after the date of this document or to revise them to reflect the occurrence of future, unanticipated events.
The TSX Venture Exchange has not reviewed, and does not accept, responsibility for the adequacy or accuracy of the contents of this press release.
Contact China Education Resources at: (604) 331-2388
Email: admin@chinaeducationresources.com.
Website: http://www.chinaeducationresources.com |
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| | You can view the Previous In the News item: Tue May 17, 2016, China Education Resources Inc. Signed Three Parties Agreement to Develop Soccer Education Textbooks for China K--12 Students
You can view the Next In the News item: Wed Mar 9, 2016, China Education Resources Inc. Partners Spanish Firm to Develop Soccer Education Program for China K--12 Students
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