China Liberal Education Holdings Ltd. (CLEU) is providing educational facilities in China. The company is engaged in multiple services including jointly managed academic programs; overseas study consultation services; creating smart campuses using the technology, and job readiness training for graduating students.
The price of CLEU stock during the regular trading on February 22, 2022, was $1.08 with an increase of 11.8%. At last check in the premarket on February 23, 2022, the stock was further up by 26.8%.
CLEU: Events and Happenings
On February 23, 2022, CLEU reported about its entry into a definitive subscription contract with the CEO of the company on February 20. Ms. Ngai Ngai Lam agreed to subscribe for and acquire 2,000,000 of the company’s ordinary shares. and the Company agreed to sell the shares par value $0.001 per share, for a cumulative acquisition price of $3.0 million. The Company intended to utilize the net proceeds from the offering for general corporate purposes.
On February 17, 2022, CLEU updated about the purchase of Wanwang Investment Ltd. All the equity interests in Wanwang had been effectively transferred from Xiaoshi Huang and Thrive Shine Limited to CLEU. The sole director of Wanzhong Education Investment Management Co. had also been updated to be CEO of CLEU. The company is now able to directly operate the colleges as the owner.
On November 15, 2021, CLEU announced the receipt of recognition and recommendation by its teaching machine ‘AI-Space; from the industry specialists from the Foreign Language Professional Committee of CAET and the Educational Information Technology Research Branch.
CLEU: Key Financials
On December 3, 2021, CLEU released its financial results for the first six months of 2021 ended June 30, 2021. Some of the key highlights are mentioned below.
Revenue
Revenue recorded in the first six months of 2021 was $1.85 million against $2.27 million in the same period of 2020. The company observed a reduction of 18.5% in its revenue over the year.
EPS
Basic and diluted net income in the first six months of 2021 was $0.23 million or $0.03 per share against a loss of $0.08 million or $0.02 in the same period of 2020. The company’s EPS increased over the year.
Conclusion
Due to the worse economic conditions during the pandemic, CLEU stock plunged by 73% in the past year. The current stock position of the company is good as an increase in its stock price was observed in Tuesday’s aftermarket. The stock surge can be associated with its entry into a definitive subscription agreement.
