CHINA EDUCATION RESOURCES INC. : http://www.chinaeducationresources.com/ : QwikReport

In the News

#Tue Jun 16, 2020
China Education Resources Inc. Generated Revenues of $9,390,402 in 2019

 

VANCOUVER, Canada (June 16, 2020) - China Education Resources, Inc. ("CER") (TSXV: CHN) (OTC: CHNUF), an ed-tech company with leading technology of intelligent system and contents to provide online/offline learning, training courses and social media for teachers, students and education professionals, announced its audited financial results for the year ended December 31, 2019. All figures are expressed in U.S. dollars except otherwise stated.

For the year ended December 31, 2019, CER reported aggregate sales revenue of $9,390,402 as compared to $11,863,341 for the same period in 2018. The Company recognized a net loss for the year ended December 31, 2019 of $474,058 attributable to the shareholders as compared to a net loss of $151,698 attributable to the shareholders for the same period in 2018. 

The 2019 financial highlights are as summarized as follows:

  2019
(USD)
2018
(USD)
Percentage
change
Consolidated Statements of Comprehensive Income
for the year ended December 31, 2019:
     
Book sales and distribution services 6,255,626 6,450,715 -3.02%
Online products 3,134,776 5,412,626 -42.08%
Total revenue 9,390,402 11,863,341 -20.85%
Net loss attributable to shareholders of the Company (474,058) (151,698) -212.50%

The decrease in revenue from online products in 2019 as compared to the same period in 2018 was mainly due to the delay in conducting teacher training by some cities in China.

The increased loss position in 2019 was mainly due to the increase in expected credit loss of $774,564 as a result of economic downturn caused by COVID-19. We will update our shareholders on the progress of the company in a separate press release.

Even though COVID-19 has significantly impacted global economy and slow down most of business,  it also provides new opportunities to certain business, especially online business. We expect our sales revenue from online products will improve in near future. 

In collaboration with China's education administrators and experts, China Education Resources has been helping to transform the curriculum of the world's largest educational system. Recognizing the need to address education reform changes, China Education Resources 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 through 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. 

Contact China Education Resources at: (604) 331-2388.
Email: .
Website: http://www.chinaeducationresources.com  

 
#Mon Apr 27, 2020
China Education Resources Inc. Updates Timing of theRelease of Its Audited Financial Results for the YearEnded December 31, 2019

 VANCOUVER, Canada (April 27, 2020) - China Education Resources, Inc. ("CER") (TSXV: CHN) (OTCQB: CHNUF), an ed-tech company with leading technology of intelligent system and contents to provide online/offline learning, training courses and social media for teachers, students and education professionals, today provides shareholders and investors with an update on timing of the release of its audited financial results for the year ended December 31, 2019.

On March 23, 2020, Canadian Securities Regulators published temporary blanket relief for market participants from certain regulatory filings as a result of COVID-19. CER is utilizing the temporary blanket relief which provides for a 45-day extension to file its audited annual financial statements and MD&A for the period ending December 31, 2019. CER expects to file its audited annual financial statements and accompanying MD&A on or before June 15, 2020. The Company also intends to rely on the 45-day extension in filing its quarterly financial statements and MD&A for the period ending March 31, 2020 and expects to file its Q1 financial statements and accompanying MD&A on or before July 15, 2020.

The Company's management and other insiders are subject to a trading blackout until the end of the second trading day after the 2019 Annual Filings and Q1 financial statements are filed. At this time, the company anticipates the 2019 Annual Filings will be completed within the 45-day extension period.

CER's business has now been back to normal even though COVID-19 is currently slowing down the global economy. We will provide update to the shareholders when more information is available.

In collaboration with China's education administrators and experts, China Education Resources has been helping to transform the curriculum of the world's largest educational system. Recognizing the need to address education reform changes, China Education Resources has created educational tools and curriculum for China's entire kindergarten through twelfth grade. The Company is playing an integral part in transforming China's educational system through helping to convert the existing educational system from memory-based learning to a creative thinking and interactive approach. Presently, China Education Resources has over 1 million kindergarten through twelfth grade teachers registered through 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.

Contact China Education Resources at: (604) 331-2388
Email:
 
#Tue Jan 21, 2020
China Education Resources Inc. Updates Soccer Education Program

 VANCOUVER, Canada (January 21, 2020) - China Education Resources, Inc. ("CER") (TSXV: CHN) (OTCQB: CHNUF), an ed-tech company with leading technology of intelligent system and contents to provide online/offline learning, training courses and social media for teachers, students and education professionals, today provides shareholders and investors with an update on its business performance.

CER is pleased to announce that we have reached an agreement with a China local education authority to provide our total solution soccer education program to 45 primary schools (grade 1 to grade 6) in China. Our program includes online and offline soccer training with soccer textbooks, video contents and training materials such as special training balls and games. CER will set up individual school soccer platforms for each school.

The online soccer education training platform provides a vertically blended learning, teaching, research and management system for a "student-teacher-school-parent community"; it highlights the central role of our personal learning studio and provides various forms of curriculum resources as well as interactive learning tools. Through the joint efforts and resources of our online platform, which connects multiple-level users including local education authorities, schools, classes, and individuals, different types of users can select courses and/or services to accomplish various learning, teaching and research activities. Users can access our on-line platform via personal computers or mobile phones. They can also scan the QR code on the soccer textbooks to enter the learning & training platform via their mobile phones.

The online platform will not only help students learn soccer courses, but also assist teachers in teaching the soccer program and related knowledge using an effective and comprehensive approach with educational materials in classroom as well as after school. The system provides tools for both teachers and students to collect and organize learning/teaching resources, develop learning/teaching plans as well as interactions among teachers, students and parents.

"We are excited by the progress of our soccer education program. We have been working together with our partners to create brand new comprehensive soccer education program which focuses on both soccer training and school learning programs." said Chengfeng Zhou, CEO, China Education Resources.

The Chinese central government's development plan for its sports industry is to achieve $800 billion or more by 2025, with the biggest segment being soccer. With the government plan, soccer education is blossoming in China. 27,000 soccer special schools were set up by Chinese education authorities in 2019. The Ministry of Education of China plans to set up 100,000 soccer special schools by 2025. CER believes that the Company will benefit from the China soccer market through providing various types of soccer education programs.

In collaboration with China's education administrators and experts, China Education Resources has been helping to transform the curriculum of the world's largest educational system. Recognizing the need to address education reform changes, China Education Resources has created educational tools and curriculum for China's entire kindergarten through twelfth grade. The Company is playing an integral part in transforming China's educational system through helping to convert the existing educational system from memory-based learning to a creative thinking and interactive approach. Presently, China Education Resources has over 1 million kindergarten through twelfth grade teachers registered through 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.

Contact China Education Resources at: (604) 331-2388
Email: admin@chinaeducationresources.com.
Website: http://www.chinaeducationresources.com
 
#Thu Nov 28, 2019
China Education Resources Inc. Reports Q3 2019 Financial Results

 VANCOUVER, Canada (November 28, 2019) - China Education Resources, Inc. ("CER") (TSXV: CHN) (OTC: CHNUF), an ed-tech company with leading technology of intelligent system and contents to provide online/offline learning, training courses and social media for teachers, students and education professionals, announced its financial results for the third quarter of 2019. All figures are expressed in U.S. dollars.

China Education Resources generated gross revenue of $850,213 in the third quarter of 2019. This is compared to gross revenue of $1,519,220 for the same period in 2018. It recorded a net loss attributable to shareholders of $132,274 as compared to a net loss attributable to shareholders of $189,470 for the same period in 2018.

During the nine months ended September 30, 2019, the Company generated revenue of $6,987,209 as compared with $9,631,327 for the same period in 2018. The net income attributable to the shareholders of the Company for the period was $377,443 as compared to $1,056,478 net income for the same period in 2018.

The Q3 of 2019 financial highlights is as summarized as follows:

The decrease in revenue from online products was mainly due to the delay in conducting teacher training program by some cities in China. As all of our sales revenue was generated in China in Chinese local currency, Renminbi ("RMB"), there was an impact on conversion of numbers in RMB to USD with different exchange rates at different period of time.

We expect the sales revenue will improve in the new five-year teacher training cycle starting in 2020. CER strongly believes that its unique and comprehensive blend of education resources and services will provide CER with long-term revenue potential. For more information, please visit www.chinaeducationresources.com or Email: admin@chinaeducationresources.com.

In collaboration with China's education administrators and experts, China Education Resources has been helping to transform the curriculum of the world's largest educational system. Recognizing the need to address education reform changes, China Education Resources 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 through 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.

Contact China Education Resources at: (604) 331-2388
Email: admin@chinaeducationresources.com.
Website: http://www.chinaeducationresources.com
 
#Tue Sep 10, 2019
China Education Resources Inc. Signed Partnership Agreement with Kids Technology Ltd.

 VANCOUVER, Canada (September 10, 2019) - China Education Resources, Inc. ("CER") (TSXV: CHN) (OTC: CHNUF), an ed-tech company with leading technology of intelligent system and contents to provide online/offline learning, training courses and social media for teachers, students and education professionals, today updates shareholders and investors on its business performance.

CER is continually making progress in its business and has recently signed a partnership agreement with Kids Technology Ltd. ("KTL") for the K to 12 education market in China. KTL is an ed-tech company providing technology and contents to kids and their parents. Its app has been downloaded by more than 10 million users. Kids Technology Ltd. has 5 million registered members, most of them are parents. CER will customize its existing educational contents and services, including soccer training video contents, for KTL's users. Both parties will also work together to develop new educational programs for users.

"We are pleased with the partnership with Kids Technology Ltd." said Chengfeng Zhou, CEO of China Education Resources Inc. "CER has comprehensive educational contents with 2 million K to 12 teacher users, KTL has 5 million registered members, most of them are parents. The partnership will create a network for connecting students, parents and teachers, and synergy effect on cross selling educational contents and other services to the network users and members of both Companies. We expect the partnership will generate more revenue for both parties."

In collaboration with China's education administrators and experts, China Education Resources has been helping to transform the curriculum of the world's largest educational system. Recognizing the need to address education reform changes, China Education Resources has created educational tools and curriculum for China's entire K to 12 education system. The Company is playing an integral part in transforming China's educational system through helping to convert the existing memory-based learning system to a creative thinking and interactive approach. Presently, China Education Resources has over 1 million K to 12 teachers registered through its Web portal. For more information, please visit www.chinaeducationresources.com or call (604) 331-2388.

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.
Contact China Education Resources at: (604) 331-2388
Email: admin@chinaeducationresources.com.
Website: http://www.chinaeducationresources.com
 

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