China Education Resources Announces Completion of Acquisition and Starting of Unique Business Model in the Chinese Education Sec
23 Septiembre 2009 - 2:00PM
Marketwired
China Education Resources Inc. ("China Education", "CER", "the
Company") (TSX VENTURE: CHN)(OTCQX: CHNUF) - today announced that
it has completed the acquisition of a 60% interest in Yu Cheng Yuan
Consulting Services Ltd. ("YCY"), a distributor of education
products for 6,000,000 RMB ($1,000,000 CDN), payable in 2,860,000
shares with a deemed value of thirty-five (35 cents) cents per
share.
C.F. Zhou, Chairman and CEO said, "CER's speciality is our CERSP
brand, now a nationally recognized and trusted brand which we have
developed after a number of years in the teacher training area and
our CERSP portal which hosts a teacher blog that is now the world's
largest K-12 teacher social network. There are currently over
1,000,000 teachers registered on our portal. Through the efforts
and contributions of these teachers, we have amassed an enormous
volume of education content. Examples include lesson plans,
supplementary and enrichment materials and over 2,000 online
tutoring courses for K-12 students, all of which support the
learning objectives of the K-12 area.
YCY's speciality is its extensive contacts with educational
authorities in 150 cities to which it sells its K-12 education
products targeted at the student population.
The combination of CER and YCY creates a unique business model.
Firstly, teachers who know and trust the CERSP brand will be more
likely to recommend our products to the students they teach. This
will be a very effective "top down" sales approach. Secondly, our
business will develop into an "online/offline" model in which
physical products such as textbooks and enrichment materials will
be sold offline but in order for the user to maximize the
effectiveness of the products, he or she will have to use the CERSP
portal. A good example is our online tutoring program.
CER's strategy is to provide education resources and services to
12 million K-12 teachers and the 230 million K-12 students in
China. While our teacher training is important in terms of revenue,
it is far more critical as a door opener into the student
market.
The positive effects of the YCY acquisition have already started
to occur in the third quarter of 2009. Sales in the last 3 months
have increased materially over the first 6 months of this year and
I am confident that we will be able to generate meaningful revenue
in 2009. Shareholders will be updated shortly on our progress."
ABOUT CHINA EDUCATION RESOURCES INC.
In collaboration with China's various education authorities and
experts, China Education Resources Inc. ("CER") is helping to
transform the curriculum of the world's largest educational system.
Recognizing the need for centralization and increased accessibility
to address the Chinese Central government's 2000 education reform
policy changes, CER has created educational tools and curricula for
China's entire kindergarten through twelfth grade system. By
implementing the government's goal of converting the existing
educational system from memory-based learning to creative thinking
and utilizing a more interactive approach to embrace a world-based
economy, CER has played an integral part in positioning China's
educational system to reach new heights.
Safe Harbor Statement
This press release contains certain forward-looking statements
that reflect the current views and/or expectations of China
Education Resources Inc. with respect to its performance, business
and future events. Such statements are subject to a number of
risks, uncertainties and assumptions. Actual results and events may
vary significantly.
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updates, please email your request to:
admin@chinaeducationresources.com.
The TSX Venture Exchange has not reviewed, and does not accept,
responsibility for the adequacy or accuracy of the contents of this
press release.
Contacts: China Education Resources Inc. (604) 683-6865
www.chinaeducationresources.com
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