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China Education earns $401,759 (U.S.) in Q1
2015-06-01 08:19 ET - News Release
Mr. Chengfeng Zhou reports
CHINA EDUCATION RESOURCES INC. REPORTS Q1 2015 FINANCIAL RESULTS
China Education Resources Inc. has released its financial results for the first quarter of 2015. All figures are expressed in U.S. dollars.
China Education Resources generated gross revenues of $ 3,418,012 in the first quarter of 2015. This is compared to gross revenue of $2,457,304 for the same period in 2014. It recorded a net income attributable to shareholders of $401,759 as compared to a net profit attributable to shareholders of $101,894 for the same period in 2014. The Q1 of 2015 financial highlights are as summarized as follows:
2015 2014 Percentage (USD) (USD) change Consolidated Statements of Comprehensive Income Book sales and distribution services 854,308 976,687 -12.5% Online products 2,230,6711,468,72851.9% Total revenue 3,418,0122,457,30439.1% Net profit attributable to shareholders of the Company 401,759 101,894 294.3%
"The operating performance of the company continues to be strong, and the Company is growing according to its business plan" said Chengfeng Zhou, CEO, China Education Resources. "We expect our unique and comprehensive blend of education resources and services to generate more revenue." Chinese President Xi Jinping has called for reform and innovation in education in line with development of information and communication technology ("ICT") to make all people receive education "anytime, anywhere" on May 23, 2015. China has been making persistent effort to push forward ICT to expand the coverage of quality education, vowing to reduce urban-rural and regional gaps and improve education quality.
To utilize CER's edu-tech facilities and satisfy the Chinese government's plan, CER is developing the mobile APP for teacher training program and expects to launch the APP for use in the 2015 online teacher training sections.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. For more information, please visit www.chinaeducationresources.com or call (604) 331-2388.