June 22, 2021

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Business is my step

Meten EdtechX Announces Improve of Auditor

4 min read

SHENZHEN, China, Jan. 06, 2021 (Globe NEWSWIRE) — Meten EdtechX Schooling Group Ltd. (Nasdaq: METX) (“Meten EdtechX” or the “Company”), a main English language coaching (“ELT”) support company in China, currently declared the appointment of Audit Alliance LLP (“Audit Alliance”) as the Company’s impartial auditor [effective on January 7, 2021].

Audit Alliance replaces KPMG Huazhen LLP (“KPMG”), formerly the unbiased auditor for the Enterprise. The appointment of Audit Alliance was made just after a thorough and extensive analysis approach and has been suggested for acceptance by the audit committee of the board (the “Board”) of directors of the Company, and accepted by the Board on December 29, 2020.

The consolidated money statements of the Firm and its subsidiaries as of and for the time period from September 27, 2019 (inception) to December 31, 2019 and the consolidated economical statements of the Meten Intercontinental Education Team and its subsidiaries as of as of December 31, 2018 and 2019 did not comprise any adverse opinion or disclaimer of impression, nor were they competent or modified as to uncertainty, audit scope or accounting rules. The final decision to adjust independent auditor was not the end result of any disagreement involving the Organization and KMPG on any issue of accounting concepts or procedures, financial assertion disclosure, or auditing scope or treatment.

The Business is operating carefully with Audit Alliance and KPMG to assure a seamless transition.

The Board would like to choose this prospect to specific its honest gratitude to the KPMG crew for their professionalism and excellent of products and services rendered to the Enterprise over the previous yrs.

For investor and media enquiries, please speak to:

Ascent Trader Relations LLC
Tina Xiao
Tel: +1 917-609-0333
Electronic mail: [email protected]

About Meten EdtechX

Meten EdtechX is a leading ELT services provider in China, providing English language and long term abilities teaching for Chinese learners and professionals. By a complex digital system and nationwide network of learning centers, the Enterprise supplies its providers underneath 3 industry-main models: Meten (grownup and junior ELT products and services), ABC (mainly junior ELT providers) and Likeshuo (online ELT). It offers outstanding teaching good quality and pupil pleasure, which are underpinned by cutting edge technological innovation deployed throughout its enterprise, together with AI-driven centralized instructing and administration devices that file and analyze understanding procedures in genuine time.

The Organization is fully commited to increasing the general English language competence and competitiveness of the Chinese populace to hold abreast of the speedy improvement of globalization. Its professional management is centered on further producing its electronic system and expanding its network of mastering centers to deliver a frequently evolving support offerings to a developing selection of learners across China.

For extra data about Meten EdtechX, be sure to visit: https://trader.metenedu-edtechx.com/.

Risk-free Harbor Statement

This announcement is made up of ahead-seeking statements that require threats and uncertainties. These statements are designed less than the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These ahead-searching statements can be identified by terminology this kind of as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and equivalent statements. Statements that are not historical specifics, which include statements about the Company’s beliefs and anticipations, are forward-searching statements. A amount of factors could bring about actual success to vary materially from people contained in any forward-hunting assertion, which includes but not confined to the pursuing: the impact of the COVID-19 outbreak, our potential to appeal to pupils with no a important lessen in system costs our potential to proceed to employ the service of, coach and retain qualified teachers our capacity to maintain and enrich our “Meten” manufacturer our capacity to proficiently and competently regulate the enlargement of our college network and efficiently execute our growth tactic the final result of ongoing, or any upcoming, litigation or arbitration, like people relating to copyright and other intellectual assets rights level of competition in the English language education sector in China modifications in our revenues and sure charge or expenditure products as a proportion of our revenues the envisioned growth of the Chinese English language education and personal schooling sector Chinese governmental policies relating to personal academic expert services and suppliers of these providers wellbeing epidemics and other outbreaks in China and typical financial circumstances in China. Even further facts regarding these and other threats is involved in our once-a-year report on Variety 20-F and other paperwork submitted with the Securities and Exchange Fee. The Company does not undertake any obligation to update any forward-looking statement, other than as expected under relevant regulation. All information and facts presented in this press launch and in the attachments is as of the date of this press launch, and the Enterprise undertakes no duty to update this sort of information, other than as expected underneath applicable regulation.

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