HONG KONG, Dec. 11, 2014 /PRNewswire/ -- China Chuanglian Education Group Limited ("the Company" or "China Chuanglian Education", HKSE stock code: 2371) announced that Beijing Chuanglian Education Investment Company Limited ("Beijing Chuanglian Education"), a subsidiary of the Company, has entered into a strategic cooperation agreement with New Oriental Xuncheng Network Technology Co., Ltd. ("Xuncheng Network") on 9 December 2014. According to the New Orient Cooperation Agreement, the two parties agreed to cooperate in the provision of online training programmes for professional English examinations to registered users on China Human Resources Training Website (www.chinanet.gov.cn) ("China Training Website").
Pursuant to the New Orient Cooperation Agreement, Beijing Chuanglian Education is responsible for, among others, (i) the marketing and sales activities of the online training materials for professional English examinations provided by Xuncheng Network; (ii) the formulation of management system and other associated policies for participants of the online training programmes; and (iii) the registration and information management of the participants of the online training programmes.
Pursuant to the New Orient Cooperation Agreement, Xuncheng Network is responsible for, among others, (i) the provision of professional English training through the Koolearn Website and the related training materials; and (ii) the daily technical maintenance of the Koolearn Website.
China Training Website, a national online education training platform in PRC, is owned and operated by China Chuanglian Education. The number of members has reached approximately 320 million. With its modern far-end vocational education and training qualifications, this platform provides training services for civil servants, professionals, management executives and the mass society. This training has been widely applied within government officials and industries, and serves training and managing purposes in provinces, districts and counties.
Xuncheng Network is a subsidiary of a variable interest entity (VIE) of New Oriental Education & Technology Group Inc., a company listed on the New York Stock Exchange (Ticker Symbol: EDU). Xuncheng Network is principally engaged in the provision of online education services and operates the online education website, New Orient Online (www.koolearn.com) ("Koolearn Website"). Xuncheng Network is a well-known integrated educational institution in the PRC. With more than ten years' operating experience, Xuncheng Network has been a leading service provider and has gained great market recognition in the online education sector.
With the said agreement, the two parties will work closely together and fully utilize the market advantages of both China Training Website and New Orient Online, as well as jointly provide fair and sustainable education training service. In view of Xuncheng Network's experience and resources in online education, the cooperation between Koolearn Website and the China Traning Website will enhance the business development of the Group.
About China Chuanglian Education
The Group is principally engaged in the online education business and internet advertisement industry in the PRC. The Group owns cross-media platform that facilitates online training, smart management of online education and exchange of education resources with the capacity of supporting large-scale online users and mobile users using online education simultaneously. Currently, the platform provides online education and training service to two types of users: 1) those who require on-the-job training and further education due to career development; 2) those who prepare for professional qualification examinations to obtain relative qualification certificates. By the end of November 2014, our services have 69 online training platforms cover provinces and cities across China and among different industries with 3.2 million registered users and 2.7 million paid users, are expected to have sustainable growth in the future.
