VANCOUVER, BRITISH COLUMBIA–(Marketwired – May 31, 2016) – China Education Resources Inc. (“CER”) (TSX VENTURE:CHN)(OTCQX:CHNUF), an edu-tech company with leading technology in intelligent system and content provider for online learning, training courses and social media for teachers, students and education professionals, today provides shareholders and investors with an update on its business performance.
1. Soccer Education Program
Further to CER’s March 17, 2016 press release of soccer education program, the contents of 13 soccer textbooks for each grade from K to 12 were developed and are under editing. The contents were developed by the supper soccer experts in the World including former captain of Spanish National Team and Real Madrid C.F. The members of the powerful author team are the teachers at well-known European universities with Coach UEFA Pro title, which is the top level soccer coach in Europe. They also had substantial coaching experiences with various famous soccer clubs such as Real Madrid C.F, Atlético de Madrid C.F. and Spanish National Team.
“We are thrilled by the best soccer textbook contents for China K to 12 students and teachers. CER is developing the soccer education online platform which will integrate the functions of our online teacher training platform and school platform for the soccer textbooks. We are working with our partners together to create a brand new soccer textbook model with the best soccer textbook contents and leading edge online training platform for K to 12 students and teachers.” said Chengfeng Zhou, CEO, China Education Resources. “We expect the partnership will generate more revenue to CER.” For more information, please visit www.chinaeducationresources.com or Email: [email protected].
China central government announced the China School Soccer Master Plan in 2015. This was the first time ever China introduces soccer textbook to China K to 12 school system as mandatory courses. With the government plan, soccer education is blossoming in China. The current China soccer market is estimated to be $200 billion. By 2025, the China sports industry is forecasted to reach $859.9 billion, with soccer as the biggest segment.
2. Q1 2016 Financials
CER also reported the Q1 of 2016 financial results. During the three months ended March 31, 2016, the Company generated revenue of $2,657,350 as compared with $3,084,979 for the same period of last year. The net loss attributable to the shareholders of the Company for the period was $1,599 as compared to net income of $401,759 for the same period of last year. The revenue from book sales and distribution service was $965,860 and revenue from online products was $1,691,490. There was an increase in revenue from book sales and distribution services for the current quarter as compared to the sales for the same period in 2015. The decrease in revenue from online products in the current quarter as compared with the same period in 2015 was due to some of the products and services were delivered and recorded in the last quarter of 2015.
In collaboration with China’s education administrators and experts, CER has been helping to transform the curriculum of the world’s largest educational system. Recognizing the need to address education reform changes, CER 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 as users of 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.
