VANCOUVER, June 3, 2014 /CNW/ - China Education Resources, Inc. ("CER")
(TSXV: CHN) (OTCQX: CHNUF), a leading technology provider of online
learning, training courses and social media for teachers, students and
education professionals, announced its financial results for the first
quarter of 2014. All figures are expressed in U.S. dollars.
China Education Resources generated gross revenues of $2,457,304 in the
first quarter of 2014. This is compared to gross revenue of $2,403,369
for the same period in 2013. The net profit attributable to the
shareholders of the Company for the period was $101,894 as compared to
a net loss attributable to shareholders of the Company of $246,079 for
the same period of last year..
Q1 of 2014 financial highlights include:
Online products revenue of $1,468,728 generated during the first quarter
of 2014 as compared to $1,584,044 during the same period in 2013;
Text book sales revenue of $976,687 generated during the first quarter
of 2014 as compared to $819,325 during the same period in 2013.
"Our sales revenue continuously keeps increasing and the Company is
growing according to its business plan" said Chengfeng Zhou, CEO, China
Education Resources. "The strategic partnership agreement with a major
China local teacher continuous training company we recently signed will
have the synergy effect of bringing together both parties' training
contents and sales channels to deliver teacher training programs under
CER's brand "New Thinking" to China kindergarten to grade 12 teachers
via the CER's online training platform. The arrangement will
significantly reduce CER's cost of marketing and development of teacher
training programs and can generate more revenue to both parties. Due to
the increase in the number of teachers involved in the training, we can
also do cross selling of our other products and services at the same
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.
Safe Harbor Statement
Certain statements made herein, and other statements relating to matters
that are not historical facts and statements of our beliefs, intentions
and expectations about developments, results and events which will or
may occur in the future, constitute "forward-looking information"
within the meaning of applicable securities legislation.
Forward-looking information and statements are typically identified by
words such as "anticipate", "could", "should", "expect", "seek", "may",
"intend", "likely", "plan", "estimate", "will", "believe" and similar
expressions suggesting future outcomes or statements regarding an
outlook. All such forward-looking information and statements are based
on certain assumptions and analysis made by China Education Resources,
Inc.'s management in light of their experience and perception of
historical trends, current conditions and expected future developments,
as well as other factors management believes are appropriate in the
circumstances. These statements, however, are subject to a variety of
risks and uncertainties and other factors that could cause actual
events or results to differ materially from those projected in the
forward-looking information or statements. Important factors that could
cause actual results to differ from these forward-looking statements
include those described under the heading "Risks and Uncertainties"
elsewhere in the Company's MD&A filed at www.SEDAR.com. The reader is cautioned not to place undue reliance on forward-looking
information or statements. Except as required by law the Company does
not assume the obligation to revise or update these forward looking
statements after the date of this document or to revise them to reflect
the occurrence of future, unanticipated events.
The TSX Venture Exchange has not reviewed, and does not accept,
responsibility for the adequacy or accuracy of the contents of this
SOURCE China Education Resources Inc.