China Bilingual Technology & Education Group Inc. (OTC BB: CBLY)
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China Bilingual Announces Strategic Changes to Two Schools in Shanxi Province
5/14/2012 7:00:00 AM
TAIYUAN, China, May 14, 2012 /PRNewswire-Asia-FirstCall/ -- China Bilingual Technology & Education Group Inc. (CBLY.OB) ("China Bilingual" or the "Company"), an education company that owns and operates high-quality, K-12 private boarding schools in China, today announced that it will relocate its students between two schools in Taiyuan, Shanxi province on September 1, 2012 to better service its student population and expand its enrollment capability.
Starting next academic year, China Bilingual will relocate all primary grade students to Shanxi Modern Bilingual School – North Campus and all secondary grade students to Shanxi Modern Bilingual School – South Campus (formerly known as Shanxi Rising School, which was acquired by China Bilingual in August 2011).
"This will be another milestone in our efforts to integrate our two schools to better serve our students in the Taiyuan area," stated Dr. Ren Zhiqing, Chairman and CEO of China Bilingual. "The relocation of students will reduce internal competition between the two schools in attracting high quality students and enable us to focus on further improving our quality of education and curriculum. In addition, this new division of schools will allow us to better allocate our strong faculty and improve the efficiency of our personnel management and administration. We expect this initiative will be another driver of enrollment growth in the coming academic year."
About China Bilingual Technology & Education Group Inc.
China Bilingual Technology and Education Group Inc. is an education company that owns and operates high-quality, K-12 private boarding schools in China. Founded in 1998, the Company currently operates three schools encompassing the kindergarten, elementary, middle and high school levels with approximately 13,881 students and 1,876 faculty and staff.
The Company's schools are located in Shanxi and Sichuan Provinces and provide students with an innovative and high-quality education with a focus on fluency and cultural skills in both Chinese and English. The schools regularly rank among the top schools in their respective regions for college entrance rates and national college entrance exam scores. The Company's schools have earned excellent teaching reputations and are recognized for the success of their students and strong faculty.
As China experiences rapid industrialization and economic growth, the government is focused on education as a means to increase worker productivity and raise the standard of living. Parents in China's new middle and upper classes are sending their children to receive private school education to give them an advantage in China's increasingly competitive workforce. The Company's sector in education is not subject to corporate income tax, and the Company anticipates its growth will come from both organic growth through increased enrollment and expansion of its business model and teaching methods into new schools to be acquired by the Company.
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, product demand, market competition, and risks inherent in our operations. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. For additional information, readers should carefully review reports or documents the Company files periodically with the Securities and Exchange Commission.
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