Meten Edtechx Education Group Ltd. (NASDAQ: METX) stock gained by 15.81% in the current market trading. Meten EdtechX is a leading English language and skills training company in China, providing English language and skills training to Chinese students and professionals. Meten (adult and junior ELT services), ABC (primarily junior ELT services), and Likeshuo (adult and junior ELT services) are three industry-leading brands that METX offers across a sophisticated digital portal and a national network of learning centers (online ELT).
What is happening?
METX today announced that as compared to the same time last year, METX’s junior ELT business’ gross billing and student enrollment rose by 1,910.4 percent and 758.1 percent, respectively, in April 2021. As a comparison to April 2019, gross billing and student attendance rose by 100.6 percent and 31.0 percent, respectively.
The gross billing of METX’s junior ELT market rose by 473.8 % year on year in the first four months of 2021, a 128.6 % improvement over the same timeframe of 2019. The numbers show that METX is back on track for accelerated growth until the pandemic.
Within its current network of 22 cities, METX is aggressively expanding its junior ELT sector, which has earned positive consumer feedback. In April, gross billing from student renewals and referrals accounted for 62.8 percent of the overall gross billing of METX’s junior ELT market, showing that students and their parents value and accept METX’s services.
METX, by using its industry success, vertical growth approach, and brand power,expects its junior ELT Company to gross RMB2.6 million in the second quarter of fiscal year 2021, a 300 percent improvement over the same time last year and a 50 percent increase over the second quarter of 2019.