China Education Resources Inc. Reports Q2 2021 Financial Results
CER generated gross revenue of $3,994,757 in the second quarter of 2021 as compared with gross revenue of $3,734,501 for the same period in 2020. There was an increase in revenue from book sales and distribution service and a decrease in revenue from online products for the current quarter as compared to the same period in 2020.
During the six months ended June 30, 2021, CER generated revenue of $5,223,250 as compared with $4,333,775 for the same period in 2020.
The Q2 of 2021 financial highlights are as summarized as follows:
| 2021 (USD) |
2020 (USD) |
Percentage change |
|
Consolidated Statements of Comprehensive Income |
|||
| Three months ended June 30 | |||
| Book sales and distribution servic | 3,011,675 | 2,647,668 | 13.7% |
| Online products | 983,082 | 1,086,833 | -9.5% |
| Total revenue | 3,994,757 | 3,734,501 | 7.0% |
| Net income attributable to shareholders of the Company for the three months |
382,803 | 795,883 | -51.9% |
| Six months ended June 30 | |||
| Total revenue | 5,223,250 | 4,333,775 | 20.5% |
| Net income attributable to shareholders of the Company for the six months |
77,915 | 466,332 | -83.3% |
For the six months ended June 30, 2021, CER reported aggregate sales revenue of $5,223,250 (2020: $4,333,775). The revenue from book sales and distribution service was $3,921,296 and revenue from online products was $1,301,954. There was an increase in revenue from both book sales and distribution service and online products for the six months as compared to the same period in 2020. The decreased net income was mainly due to the increase in the selling and marketing expenses as compared with the same period in 2020.
"We are pleased that our business is in the right direction to address the speed up of changes in life styles and habits of people due to the COVID-19 pandemic." said Chengfeng Zhou, CEO, China Education Resources. "We expect the sales revenue will continue to improve following the Chinese economy's recovery. Our online education platform and services provide a vertically blended learning, teaching, research and management system for a student-teacher-school-parent community. We believe it will provide CER with great long-term revenue potential."
CER has created educational tools and curriculum for China's entire kindergarten through twelfth grade system. CER is helping to convert the existing educational system from a memory-based learning system to a creative thinking and interactive approach. Presently, CER has over 1 million kindergarten through twelfth grade teachers registered through its Web portal.
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
CER Retains IR Firm
VANCOUVER, Canada (July 13, 2021) - China Education Resources, Inc. ("CER") (TSXV: CHN) (OTCQB: CHNUF) is an ed-tech company with leading technology of intelligent system and contents. It provides online/offline learning, training courses and social media for teachers, students and education professionals. CER today provides shareholders and investors with an update:
CER has retained Alliance Equity Capital Group, Inc. ("Alliance") to provide investor relations and communication services to CER. Alliance provides investor, media, public relations, and merger & acquisition advisory services to both private and public companies in all industries. Alliance will advise CER in all facets of corporate and financial communications, including the coordination of investment conferences and future road shows, as well as building brand awareness with financial and social media outlets.
Under the agreement between CER and Alliance, Alliance has been retained for a term of 12 months and CER will pay $7,500 USD per month to Alliance. Alliance shall receive common stock of CER at the end of the 12 months for any payment that is not paid by CER. In addition, CER will issue 100,000 stock options to Alliance, with each option having an exercise price of ten cents in Canadian dollars. Both parties mutually agree to do a six-month review to determine if services provided have been effective. Either party may terminate agreement at that time.
CER has also granted 2.6 million stock purchase options to directors, employees and consultants of the Company. Each option allows the holder to acquire a common share of the Company at an exercise price of ten cents per share in Canadian dollars. The options are exercisable for a period of five years.
The grant of the options is subject to the terms of the company's stock option plan and the approval of the TSX Venture Exchange.
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
China Education Resources Inc. Reports Q1 2021 Financial Results
During the three months ended March 31, 2021, CER generated revenue of $1,228,493 as compared with $599,274 for the same period of last year. The net loss attributable to the shareholders of CER for the period was $304,888 as compared with $329,551 net loss for the same period of last year.
The Q1 of 2021 financial highlights are as summarized as follows:
| 2021 (USD) |
2020 | Percent change |
|
|---|---|---|---|
| Consolidated Statements of Comprehensive Income Three months ended March 31: |
|||
| Book sales and distribution services | 909,62 | 497,082 | 83.0% |
| Online products | 318,872 | 102,192 | 212.0% |
| Total revenue | 1,228,493 | 599,274 | 105.0% |
| Net loss attributable to shareholders of the Company |
(304,888) | (329,551) | 7.5% |
The increase in revenue as compared with the same period in 2020 has clearly indicated that our business is catching up along with the Chinese economy's gradual recovery after COVID-19's peak period of impact. The net loss was mainly due to the increase in selling and marketing expenses for pushing the sales of our new on-line programs and existing products.
"We are very pleased that our business is in the right direction to address the speed up of changes in life styles and habits of people due to the COVID-19 pandemic." said Chengfeng Zhou, CEO, China Education Resources. "Due to the large online component of our business, CER has been receiving positive responses from the government, private sector, and general public as COVID-19 pandemic has accelerated people to shift towards a more online lifestyle. We continue to receive purchase orders for our online products in particular following China's economic recovery. Our online education platform and services provide a vertically blended learning, teaching, research and management system for a student-teacher-school-parent community. We believe it will provide CER with great long-term revenue potential."
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 through 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 1 million kindergarten through twelfth grade teachers registered through its Web portal.
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
China Education Resources Inc. Generated Revenues of US$7,425,335 in 2020
For the year ended December 31, 2020, CER reported aggregate sales revenue of $7,425,335 as compared to $9,390,402 for the same period in 2019. The Company recognized a net income for the year ended December 31, 2020 of $243,234 attributable to the shareholders as compared to a net loss of $474,058 attributable to the shareholders for the same period in 2019.
The 2020 financial highlights are as summarized as follows:
| 2020 (USD) | 2019 (USD) | Percentage change | |
Consolidated Statements of Comprehensive Income |
|||
| Book sales and distribution services | 4,943,624 | 6,255,626 | -20.97% |
| Online products | 2,481,711 | 3,134,776 | -20.83% |
| Total revenue | 7,425,335 | 9,390,402 | -20.93% |
Net income (loss) attributable to shareholders |
243,234 | (474,058) | 151.31% |
The decrease in revenue in 2020 as compared to the same period in 2019 was mainly due to the slowdown of economic activities in China, particularly the country's lockdown as a result of the COVID-19 pandemic.
The increase in net income for 2020 compared to 2019 was mainly due to the decrease in general and administrative expense and selling expense.
COVID-19 has significantly impacted the global economy and slowed down most businesses around the world. However, it has also provided and continues to provide new opportunities to certain businesses, especially online business. During the span of the COVID-19 pandemic, CER created and launched additional online training programs in direct response to market demand, which have received positive responses from the attendees.
The prolonged COVID-19 pandemic has accelerated changes in people's lifestyles and habits, resulting in much higher demand in online services in different areas, including education services.
"Our business is perfectly positioned to address the COVID-induced increase in demand for online education services," said Chengfeng Zhou, CEO, China Education Resources. "Due to our large and ever-growing volume in online education programs and contents, CER has been receiving positive responses from the government, private sector, and general public. As a result, CER is perfectly poised to cater towards the intensified e-learning market demands which have arisen as a direct consequence of the COVID-19 pandemic. We believe it will provide CER with great long-term revenue potential."
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 through 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 2 million kindergarten through twelfth grade teachers registered through its Web portal.
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
China Education Resources Inc. Business Update
(VANCOUVER, Canada March 1, 2021) - China Education Resources, Inc. ("CER") (TSXV: CHN) (OTCQB: CHNUF) is an ed-tech company with leading technology of intelligent system and contents. It provides online/offline learning, training courses and social media for teachers, students and education professionals. CER today provides shareholders and investors with an update on its business development.
CER has launched its Online School Safety Training Program for K-12 teachers. Healthy school support student learning, development, and well-being by providing safety, support, academic challenge, healthy foods, time and space to be active, and opportunities for social and emotional development. Healthy schools require a positive school climate that supports the social and emotional development of students and adults. Such a climate can reduce inequities and enable students to thrive.
The COVID-19 pandemic has changed the school environment significantly and brought about an increased number of challenges to educators, students and their families. Students learn best when they are in an environment in which they feel safe, supported, challenged, and accepted. School administrators and teachers are required to work with students' families together to focus on improving school climate; in doing so, students and parents are more likely to engage in the curriculum, develop positive relationships, and demonstrate positive behaviors. It is critical to provide teachers with the help and tools needed to navigate these unprecedented challenges.
The School Safety Training program, together with other CER training programs launched during the span of the COVID-19 pandemic, has been created in direct response to market demand, especially from the teacher community. Other CER training programs launched during the pandemic include CER's Online Psychological Counselling Training Program, as well as CER's other new teachers' training programs announced in 2020 such as its Online Teachers' Manners and Etiquette Training Programs in addition to its Online IT Proficiency Training Program.
"We are very pleased by the progress of our online training programs, which are continuously developed and updated to meet the current demands. Because of COVID-19, teachers and students have had to adapt to novel learning and communication methods; the overwhelming majority of these methods have involved a shift from in-person learning to online education. CER is perfectly poised to cater towards the intensified e-learning market demands which have arisen as a direct result of the pandemic. We expect that our unique and comprehensive blend of education resources and services will generate more online sales revenue in 2021 than 2020," said Chengfeng Zhou, CEO, China Education Resources.
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. The Company is playing an integral part in transforming China's educational system through helping to convert the existing educational system from memory-based learning to a creative thinking and interactive approach. Presently, China Education Resources has over 1 million kindergarten through twelfth grade teachers registered through its Web portal.
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