Meten EdtechX (METX) Reports 247.8% Increase in Gross Billing and a 163.9% Increase in Students Enrollment of its Junior ELT Business in May

June 18, 2021 8:35 AM EDT
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Meten EdtechX Education Group Ltd. (Nasdaq: METX) ("Meten EdtechX" or the "Company"), one of the leading omnichannel English language training ("ELT") service providers in China, today announced that the gross billing and student enrollment of its junior ELT business in May 2021 increased by 247.8% and 163.9% respectively compared to the same period of last year and increased by 92.4% and 65.2% respectively compared to May 2019.

In the first five months of 2021, the gross billing of the Company's junior ELT business increased by 408.4% year over year and increased by 120.4% compared with the same period in 2019. These figures confirm that the Company has returned to its pre-pandemic growth trajectory.

The Company is actively expanding its junior ELT business within its current network of 22 cities and has received positive market feedback. The gross billing from student renewals and referrals accounted for 57.7% of the total gross billing of the Company's junior ELT business in May 2021, demonstrating that the Company's services have been widely appreciated and recognized by students and their parents. Due to recent policy changes, the Company will continue to develop the business of junior quality-oriented education.

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