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

August 02, 2018 - 11:24
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 ChuanglianEducation Financial Group Limited(HKEx stock code: 2371.HK, the "Group") announced that, it is anticipated that the Group wouldimprove significantly to record a turnaround to profit for the six months ended30 June 2018. It was mainly attributable to a significant increase in therevenue from the educational consultancy and online training and educationbusiness; and an improvement in gross profit margin as a result of bettereconomy of scale achieved.

 

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

  

AboutChina Chuanglian Education Financial Group Limited

China Chuanglian Education Financial (2371.HK) isprincipally engaged in the provision of the online training and educationservices in the PRC. It focuses on vocational education and continuingeducation, and provides massive online and offline training services to civilservants and professional technical personnel. Its online training platformshad provided training to an accumulated person-times of over 20 million andregistered users of Rongxue App has increased to over 2 million.

 

Meanwhile, leveraging on the accurate big dataaccumulated from the online training, the Group has taken certain steps toexpand 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 HongKong.


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