• Resources
  • Blog
  • Journalists
  • Log In
  • Sign Up
  • Data Privacy
  • Send a Release
Cision PR Newswire: news distribution, targeting and monitoring home
  • News
  • Products
    • Overview
    • Distribution by PR Newswire
    • Cision Communications Cloud®
    • Cision IR
    • All Products
  • Contact
    • General Inquiries
    • Request a Demo
    • Editorial Bureaus
    • Partnerships
    • Media Inquiries
    • Worldwide Offices

 

When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases
      • All News Releases
      • All Public Company
      • English-only


      • News Releases Overview
      • Multimedia Gallery
      • All Multimedia
      • All Photos
      • All Videos


      • Multimedia Gallery Overview
      • Trending Topics
      • All Trending Topics


  • Business & Money
      • Auto & Transportation
      • All Automotive & Transportation
      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation


      • Auto & Transportation Overview
      • Business Technology
      • All Business Technology
      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors


      • Business Technology Overview
      • Entertain­ment & Media
      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television


      • Entertain­ment & Media Overview
      • Financial Services & Investing
      • All Financial Services & Investing
      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Stock Offering
      • Stock Split
      • Venture Capital


      • Financial Services & Investing Overview
      • General Business
      • All General Business
      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News


      • General Business Overview
  • Science & Tech
      • Consumer Technology
      • All Consumer Technology
      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications


      • Consumer Technology Overview
      • Energy & Natural Resources
      • All Energy
      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities


      • Energy & Natural Resources Overview
      • Environ­ment
      • All Environ­ment
      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters


      • Environ­ment Overview
      • Heavy Industry & Manufacturing
      • All Heavy Industry & Manufacturing
      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco


      • Heavy Industry & Manufacturing Overview
      • Telecomm­unications
      • All Telecomm­unications
      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications


      • Telecomm­unications Overview
  • Lifestyle & Health
      • Consumer Products & Retail
      • All Consumer Products & Retail
      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys


      • Consumer Products & Retail Overview
      • Entertain­ment & Media
      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television


      • Entertain­ment & Media Overview
      • Health
      • All Health
      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine


      • Health Overview
      • Sports
      • All Sports
      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories


      • Sports Overview
      • Travel
      • All Travel
      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry


      • Travel Overview
  • Policy & Public Interest
      • Policy & Public Interest
      • All Policy & Public Interest
      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy


      • Policy & Public Interest Overview
  • People & Culture
      • People & Culture
      • All People & Culture
      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women


      • People & Culture Overview
      • In-Language News

      • español
      • português
      • Česko
      • Danmark
      • Deutschland
      • España
      • France
      • Italia
      • Nederland
      • Norge
      • Polska
      • Portugal
      • Россия
      • Slovensko
      • Suomi
      • Sverige
  • Overview
  • Distribution by PR Newswire
  • Cision Communications Cloud®
  • Cision IR
  • All Products
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • PR Newswire: news distribution, targeting and monitoring
  • Send a Release
    • ALL CONTACT INFO

      Contact Us

      888-776-0942
      from 8 AM - 10 PM ET

  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
    • Trending Topics
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • Policy & Public Interest
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • People & Culture
    • People & Culture
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • Overview
  • Distribution by PR Newswire
  • Cision Communications Cloud®
  • Cision IR
  • All Products
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR

China Distance Education Holdings Limited Outlines Strategy Aimed at Driving Future Growth


News provided by

China Distance Education Holdings Ltd

Dec 06, 2017, 07:30 ET

Share this article

Share this article


BEIJING, Dec. 6, 2017 /PRNewswire/ -- China Distance Education Holdings Limited (NYSE: DL) ("CDEL", or the "Company"), a leading provider of online education and value-added services for professionals and corporate clients in China, today provided highlights of the Company's strategies aimed at driving future growth, as well as further definition of the Company's business structure.

Mr. Zhengdong Zhu, Chairman and CEO of CDEL, said, "Over the past few fiscal years, as previously reported, our business has experienced revenue growth headwinds primarily due to examination policy changes and lower demand for certain professional certification courses, including the Registered Tax Agent Exam, National Pharmacist Exam, and Accounting Certificate Exam. In addition, we experienced pressure on operating margins, amid ongoing investment in targeted growth initiatives to better position the Company as China's premier lifelong learning partner for our students in different industries, with healthier revenue growth and profitability levels. As we embark on fiscal 2018, we would like to take this opportunity to amplify key efforts underway focused on enhancing the future growth of our business, and to provide further definition of our business structure."

Strategic Initiatives Aimed at Driving Future Growth

Over the last several quarters, CDEL launched a number of strategic initiatives in an effort to better position the Company for future growth, including:

  • Extending Accounting Ecosystem,
  • Expanding legal education vertical,
  • Entering China's college market, and
  • Other key strategic investments.

Mr. Zhu said, "These strategic initiatives are designed to complement our overall business, further diversify our business model to mitigate risk, and drive incremental growth."

Extending Accounting Ecosystem - To further enhance CDEL's footprint in the accounting area, the Company has extended its "Accounting Ecosystem" to include practical training and employment guidance services, in addition to professional certification exam preparation and continuing education services. Moreover, the Company has broadened its services to small-and medium-sized enterprises (SMEs) by introducing accounting and related advisory services to complement its existing tax education and tax advisory business.

Employment Guidance Services – In an effort to help students master critical accounting concepts and practical skills, and to guide them in their job search, the Company is providing employment guidance services for accounting professionals, which bundle accounting practical skills training courses and employment guidance services. In fiscal 2017, the Company's employment guidance services for accounting professionals generated impressive cash receipts of approximately $6.1 million.

Investment in Leading Accounting Services Company – In October 2017, the Company entered into an agreement to acquire an 80% interest in Jiangsu Zhengbao Asset Financial Advisory Co., Ltd. ("Jiangsu Asset"), previously called Nanjing Asset Financial Consulting Co., Ltd., which provides accounting and related advisory services to SMEs. The investment in Jiangsu Asset bolsters the Company's accounting services business by over 2,500 SME customers, while at the same time providing superb internship opportunities to students in its College Cooperation Program.

Expanding Legal Education Vertical – In September 2017, the Company completed its acquisition of a 40% equity stake in Beijing Ruida Chengtai Education Technology Co., Ltd. ("Beijing Ruida"), a leading provider of examination preparation services for participants in China's national judicial examination, for RMB192 million ($28.8 million) as previously announced. As previously disclosed, the Company has an option to further increase its equity interest in Beijing Ruida up to 60% before April 2019, under certain pre-agreed conditions. The strategic investment in Beijing Ruida is a prime example of CDEL's strategy to augment its current capabilities by building out existing education verticals, further mitigating business concentration risk, while also adding a well-regarded national judicial examination preparation provider to its portfolio of education services. The Company's early integration efforts have been seamless with Beijing Ruida delivering strong revenue of over RMB190 million during the 2017 National Judicial Examination preparation season.

Expanding College-Focused Business – In May 2016, CDEL bolstered its college-focused business with the acquisition of an 80% equity interest in Xiamen NetinNet Software Co., Ltd. ("Xiamen NetinNet"), a leading provider of accounting learning simulation software tailored for China's college market. In July 2017, CDEL completed the sale of its 80% equity interest in Xiamen NetinNet to CDEL's controlled associate company Beijing Zhengbao Yucai Education Technology Co., Ltd. ("Zhengbao Yucai"), to enhance the Company's operating efficiency and better position CDEL's overall business for future growth, by enabling CDEL's U.S. listed company to focus primarily on the professional education market, while Zhengbao Yucai focuses on the college education market. Also in 2017, Zhengbao Yucai further expanded its college-focused business in the engineering and construction area with Zhengbao Yucai's investment in Hangzhou Wanting Technology Co., Ltd. ("Hangzhou Wanting"), a company listed on China's New Third Board, which offers comprehensive simulation-based learning content to college students to master critical engineering and construction skills. As of September 30, 2017, through an increase in its shareholding, Zhengbao Yucai's equity interest in Hangzhou Wanting was 20.72%.

Other Key Strategic Investments – CDEL has also made a number of other key strategic investments over the last several quarters to broaden the Company's portfolio and complement CDEL's overall business, including Beijing Niuke Technology Co., Ltd., an online information technology training and recruiting platform; and Nurselink International Limited, a company engaged in nurse recruiting and training services. A number of CDEL's strategic investments posted healthy business growth over the past few quarters.

Business Structure

CDEL operates a U.S. listed company, China Distance Education Holdings Limited (NYSE: DL), and also has a controlled associate company, Beijing Zhengbao Yucai Education Technology Co., Ltd. ("Zhengbao Yucai," NEEQ: 837730). Zhengbao Yucai has been listed on China's New Third Board since June 2016.

CDEL's U.S. listed company is primarily focused on the professional certification and professional development education markets by offering exam preparation courses and a series of complementary services for students across several industry verticals, such as accounting, healthcare, engineering and construction, and legal education, among others. The target customers are working professionals as well as college students. The aforementioned Accounting Ecosystem is primarily cultivated by CDEL's U.S. listed company.

Zhengbao Yucai, on the other hand, is primarily focused on China's college market, by offering business start-up training courses mainly to university students, and learning simulation software aimed at enriching the learning experience of college students and complementing traditional college teaching methods.

The Company does not currently intend to further inject any business operated by CDEL's U.S. listed company into Zhengbao Yucai.

Fact Sheet

To access CDEL's Company Fact Sheet, which provides further details regarding China Distance Education, including investment highlights, growth strategy, product and service offerings, and summary financials, please click on the following link http://ir.cdeledu.com/upload/html/2017/12/06/suecd687629d92439991456934426a94b8.pdf.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Among other things, our business structure, strategic and operational plans, in particular our strategic initiatives for accounting education extending Accounting Ecosystem, expanding legal education market and college-focused business, as well as the quotations from management and outlook of the Company's development and strategic investments (in particular, the anticipated benefits of our acquisition and strategic investments such as the acquisition of 40% equity interest in Beijing Ruida, acquisition of an 80% equity interest in Xiamen NetinNet and its subsequent transaction with Zhengbao Yucai and Zhengbao Yucai's investment in Hangzhou Wanting) contain forward-looking statements. Forward-looking statements are not historical facts, but instead are predictions about future events. Future events are inherently uncertain, and our forward-looking statements may turn out to be incorrect. The forward-looking statements in this press release speak only as of the date on which they are made, and we assume no obligation to update any forward-looking statements except as required by law.

About China Distance Education Holdings Limited

China Distance Education Holdings Limited is a leading provider of online education and value-added services for professionals and corporate clients in China. The courses offered by the Company through its websites are designed to help professionals seeking to obtain and maintain professional licenses and to enhance their job skills through our professional development courses in China in the areas of accounting, healthcare, engineering & construction, and other industries. The Company also offers professional education courses for participants in the national judicial examination, online test preparation courses for self-taught learners pursuing higher education diplomas or degrees, test preparation courses for university students intending to take the nationwide graduate school entrance exam, practical accounting training courses for college students and working professionals, as well as online language courses and third-party developed online courses. In addition, the Company provides business services to corporate clients, including but not limited to tax advisory and accounting outsourcing services. For further information, please visit http://ir.cdeledu.com.

Contacts:

China Distance Education Holdings Limited

The Piacente Group | Investor Relations

Investor Relations Department

Brandi Piacente

Tel: +86-10-8231-9999 ext 1805

Tel: +1 212-481-2050

Email: [email protected]

Email: [email protected]

SOURCE China Distance Education Holdings Ltd

Modal title

    Contact Cision

  • Cision Distribution 888-776-0942
    from 8 AM - 9 PM ET

  • Chat with an Expert
    • General Inquiries
    • Request a Demo
    • Editorial Bureaus
    • Partnerships
    • Media Inquiries
    • Worldwide Offices

    Products

  • Cision Communication Cloud®
  • For Marketers
  • For Public Relations
  • For IR & Compliance
  • For Agency
  • For Small Business
  • All Products

    About

  • About PR Newswire
  • About Cision
  • Become a Publishing Partner
  • Become a Channel Partner
  • Careers
  • COVID-19 Resources
  • Accessibility Statement

    • Asia
    • Brazil
    • Canada
    • Czech
    • Denmark
    • Finland
    • France
    • Germany
    • India
    • Israel
    • Italy
    • Mexico
    • Middle East
    • Netherlands
    • Norway
    • Poland
    • Portugal
    • Russia
    • Slovakia
    • Spain
    • Sweden
    • United Kingdom

    My Services

  • All New Releases
  • Online Member Center
  • ProfNet

Contact Cision


Products


About


My Services
  • All News Releases
  • Online Member Center
  • ProfNet℠
Cision Distribution Helpline
888-776-0942
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2021 Cision US Inc.