{"id":404837,"date":"2020-12-22T16:33:32","date_gmt":"2020-12-22T21:33:32","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=404837"},"modified":"2020-12-22T16:33:32","modified_gmt":"2020-12-22T21:33:32","slug":"china-liberal-education-holdings-limited-reports-financial-results-for-the-first-six-months-of-fiscal-year-2020","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/china-liberal-education-holdings-limited-reports-financial-results-for-the-first-six-months-of-fiscal-year-2020\/","title":{"rendered":"China Liberal Education Holdings Limited Reports Financial Results for the First Six Months of Fiscal Year 2020"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n BEIJING<\/span>, Dec. 22, 2020<\/span> \/PRNewswire\/ — China Liberal Education Holdings Limited (Nasdaq: CLEU) (“China Liberal”, or the “Company”, or “we”), an educational services provider in\u00a0China, today announced its financial results for the first six months of fiscal year 2020 ended June 30, 2020<\/span>.<\/p>\n

Ms.\u00a0Ngai Ngai Lam, Chairwoman and CEO of China Liberal, commented, “We are pleased with our results for the first half of 2020 as our revenue increased 20.8% compared to the same period of last year, which positions us well to meet or exceed our projections for fiscal 2020. Our focus has always been long-term growth as we execute on our business strategy, which calls for increasing market share, diversifying offerings and expanding sales network. Through leveraging our keen and accurate understanding of the market and customer demand, we independently developed and successfully launched AI-Space, an all-in-one machine designed to provide highly integrated visualization solutions for various application scenarios with strict reliability requirements. Also, we are proactively seeking new opportunities as we cooperate with Wuhan Wangjie Hengtong Information Technology Co., Ltd. to provide technical support services for State Grid Corporation of China<\/span>, a Chinese state-owned electric utility corporation. These approaches had been proven to be successful by the market, giving us confidence moving into the second half of 2020. We look forward to engaging our new products or services with more potential clients and accelerating our revenue growth so as to build long term shareholder value.”<\/p>\n

\n First Six Months of Fiscal Year 2020 Financial Highlights<\/b>\n <\/p>\n

\n\n\n\n\n\n\n\n\n\n\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n For the Six Months Ended June 30,<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n ($ millions, except per share data)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2020<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2019<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n %Change<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Revenue<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2.27<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1.88<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 20.8%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Gross profit<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 0.79<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 0.86<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n -8.1%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Gross margin<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 34.7%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 45.6%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n -10.9%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (Loss)\/Income from operations<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (0.11)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 0.19<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n NM<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Operating (loss)\/profit margin<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n -5.0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 10.1%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n NM<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net (loss)\/income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (0.08)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 0.14<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n NM<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Basic and diluted (loss)\/earnings per share<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (0.02)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 0.03<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n NM<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n