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Kamis, 02 Agustus 2018 19:32:00

China Chuanglian Education Financial Announces Positive Profit Alert and Expects a Turnaround to Profit in 2018 1H

HONG KONG, CHINA - Media OutReach - 2 August 2018 - China Chuanglian Education Financial Group Limited (HKEx stock code: 2371.HK, the "Group") announced that, it is anticipated that the Group would improve significantly to record a turnaround to profit for the six months ended 30 June 2018. It was mainly attributable to a significant increase in the revenue from the educational consultancy and online training and education business; and an improvement in gross profit margin as a result of better economy of scale achieved.

Mr. Lu Xing, Chairman of the Group said, "With the increasing popularity of the internet and online education, as well as the change in the economy structure and the corresponding increase in the demand for talented personnel in the PRC, it is expected that the market of education industry will continue to grow. We believe that, there is plenty of room for the Group's business."

About China Chuanglian Education Financial Group Limited

China Chuanglian Education Financial (2371.HK) is principally engaged in the provision of the online training and education services in the PRC. It focuses on vocational education and continuing education, and provides massive online and offline training services to civil servants and professional technical personnel. Its online training platforms had provided training to an accumulated person-times of over 20 million and registered users of Rongxue App has increased to over 2 million.

Meanwhile, leveraging on the accurate big data accumulated from the online training, the Group has taken certain steps to expand into the financial business. In 2016, the Group has become one of the nine promotors of Xinmei Mutual Life Insurance Agency. The Group has also acquired insurance brokerage companies in the PRC and Hong Kong.

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