{"id":3419,"date":"2021-12-03T13:30:00","date_gmt":"2021-12-03T13:30:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/3595837_CN95837_0"},"modified":"2021-12-03T13:30:00","modified_gmt":"2021-12-03T13:30:00","slug":"china-liberal-education-holdings-limited-reports-financial-results-for-the-first-six-months-of-fiscal-year-2021","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=3419","title":{"rendered":"China Liberal Education Holdings Limited Reports Financial Results for the First Six Months of Fiscal Year 2021"},"content":{"rendered":"

BEIJING<\/span>, Dec. 3, 2021<\/span> \/PRNewswire\/ — China Liberal Education Holdings Limited (Nasdaq: CLEU) (“China Liberal”, or the “Company”, or “we”), a China-based company that provides smart campus solutions and other educational services, today announced its financial results for the first six months of fiscal year 2021.<\/p>\n

Ms. Ngai Ngai Lam, Chairwoman and CEO of China Liberal, commented, “We still delivered respectable results in the first half of the fiscal year 2021, although the ongoing uncertainties associated with the COVID-19 pandemic caused many Chinese universities and colleges to hold off on their ‘smart campus’ project plans. Through our efforts and dedication, we achieved highly resilient financial results while prioritizing our customers during the pandemic. For the first half of fiscal year 2021, our revenue decreased by 18.5% year-over-year to $1.85 million<\/span> from $2.27 million<\/span> for the same period last year. However, our gross profit reached $1.37 million<\/span>, an increase of 74.3% from $0.79 million<\/span> for the same period of last year, and our gross margin was 74.2%, a year-over-year increase of 39.5% from 34.7% for the same period of last year. We are also excited about our business progress of integration of enterprises and vocational education business(tailored job readiness training services). To address the actual needs of regional economic development and industrial upgrading and transformation, we provided colleges and universities with school-enterprise integrated education solutions. We strived to establish a talent training system and a comprehensive platform, providing talent trainings and co-op opportunities for students. In addition, our self-developed and patented all-in-one teaching machine, AI-Space machine, has been recognized by the market and the industry and installed in several colleges and universities across China<\/span>, including Beijing Foreign Studies University, Beijing Language and Culture University, and Straits Institute of Minjiang University, laying a solid foundation for our future potential revenue growth. We believe that we are well-positioned for the future with our brand awareness, innovative technologies, and loyal customer base.”<\/p>\n

First Six Months of Fiscal Year 2021 Financial Highlights<\/b><\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n
<\/td>\n<\/td>\n\n

For the Six Months Ended June 30,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

($ millions, except per share data)<\/i><\/span><\/p>\n<\/td>\n

<\/td>\n\n

2021<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

2020<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

%Change<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Revenue<\/span><\/p>\n<\/td>\n

<\/td>\n\n

1.85<\/span><\/p>\n<\/td>\n

<\/td>\n\n

2.27<\/span><\/p>\n<\/td>\n

<\/td>\n\n

-18.5%<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Gross profit<\/span><\/p>\n<\/td>\n

<\/td>\n\n

1.37<\/span><\/p>\n<\/td>\n

<\/td>\n\n

0.79<\/span><\/p>\n<\/td>\n

<\/td>\n\n

74.3%<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Gross margin<\/span><\/p>\n<\/td>\n

<\/td>\n\n

74.2%<\/span><\/p>\n<\/td>\n

<\/td>\n\n

34.7%<\/span><\/p>\n<\/td>\n

<\/td>\n\n

39.5%<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Income (Loss) from operations<\/span><\/p>\n<\/td>\n

<\/td>\n\n

0.30<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(0.11)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

NM<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Operating profit(loss) margin<\/span><\/p>\n<\/td>\n

<\/td>\n\n

16.3%<\/span><\/p>\n<\/td>\n

<\/td>\n\n

-5.0%<\/span><\/p>\n<\/td>\n

<\/td>\n\n

NM<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Net income (loss)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

0.23<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(0.08)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

NM<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Basic and diluted earnings (loss) per share<\/span><\/p>\n<\/td>\n

<\/td>\n\n

0.03<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(0.02)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

NM<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n