China Bilingual New Student Applications Double in 2010-2011 School Year
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TAIYUAN CITY, China, Jan. 25, 2011 (GLOBE NEWSWIRE) -- China Bilingual
Technology & Education Group Inc. (OTCBB:CBLY) ("China Bilingual" or the
"Company"), an education company that owns and operates high-quality, K-12
private boarding schools in China, announced today that the number of new
student applications to its two schools has increased from approximately 4,800
for the 2009-2010 school year to approximately 9,600 for the 2010-2011 school
year.
The Company filled 1,500 open positions at its two schools for the current
school year, resulting in an acceptance rate of 16% for new student applicants
and total enrollment of approximately 10,000 students for the 2010-2011 school
year. Applicants to China Bilingual's schools must pass an entrance exam and
screening interview to evaluate each student prior to acceptance and ensure that
they can meet the academic rigors of the school.
The Company attributes the growth in new student enrollment applications to the
strong academic reputation of its schools and the exceptional performance of its
students on the National College Entrance Examination. In 2010, the Company's
Shanxi Modern Bilingual School received the "Excellent High School" award in
Taiyuan, a distinction given to only 10 high schools out of more than 100 in the
region, and was the only private high school to receive this award. China
Bilingual also received an official letter of appreciation from Beijing
University, considered China's equivalent of Harvard, commending China Bilingual
for the caliber of preparation and overall performance of its graduates at the
university.
Ren Zhiqing, Chairman and CEO of China Bilingual, commented, "Our schools had
the highest college acceptance rates in their respective regions this past year.
For example, our Shanxi school had 42% of its 2010 graduates accepted into
Tier-1 universities, the equivalent of Ivy League universities in the United
States, and schools outside of China. 65% were accepted into Tier-2 provincial
universities or better, and 99% were accepted into at least Tier-3 local
universities or better. Our Sichuan school experienced similar success. This is
especially impressive considering that the average college acceptance rate for
recent high school graduates in China is only 25%. Our rigorous curriculum,
state-of-the-art campuses and facilities, and the superior academic performance
of our students allow us to charge a premium for our educational services and be
very selective in screening applicants, which will continue to give us an
advantage as we expand our business model."
To view a video clip about the background, educational philosophy and growth of
China Bilingual's schools, please click here: http://goo.gl/2wojs
To watch an exclusive interview with the CFO of China Bilingual, Michael Toups,
at Financial Fest 2010 in Phoenix, please click here: http://goo.gl/KFlpv
About China Bilingual Technology & Education Group Inc.
China Bilingual Technology and Education Group, Inc. is an education company
that owns and operates high-quality, K-12 private boarding schools in China.
Founded in 1998, the Company currently operates two schools encompassing the
kindergarten, elementary, middle and high school levels with approximately
10,000 students and 1,500 faculty and staff.
The Company's schools are located in Shanxi and Sichuan Provinces and provide
students with an innovative and high-quality education with a focus on fluency
and cultural skills in both Chinese and English. The schools regularly rank
among the top schools in their respective regions for college entrance rates and
national college entrance exam scores. The Company's schools have earned
excellent teaching reputations and are recognized for the success of their
students and strong faculty.
As China experiences rapid industrialization and economic growth, the government
is focused on education as a means to increase worker productivity and raise the
standard of living. Parents in China's new middle and upper classes are sending
their children to receive private school education to give them an advantage in
China's increasingly competitive workforce. The Company's sector in education is
not subject to corporate income tax, and the Company anticipates its growth will
come from both organic growth through increased enrollment and expansion of its
business model and teaching methods into new schools to be acquired by the
Company.
Forward-Looking Statements
Certain statements contained herein constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based on current expectations, estimates
and projections about the Company's industry, management's beliefs and certain
assumptions made by management. Readers are cautioned that any such
forward-looking statements are not guarantees of future performance and are
subject to certain risks, uncertainties and assumptions that are difficult to
predict. Because such statements involve risks and uncertainties, the actual
results and performance of the Company may differ materially from the results
expressed or implied by such forward-looking statements. These risks and
uncertainties include, among other things, product demand, market competition,
and risks inherent in our operations. Given these uncertainties, readers are
cautioned not to place undue reliance on such forward-looking statements. Unless
otherwise required by law, the Company also disclaims any obligation to update
its view of any such risks or uncertainties or to announce publicly the result
of any revisions to the forward-looking statements made here. For additional
information, readers should carefully review reports or documents the Company
files periodically with the Securities and Exchange Commission.
CONTACT: At the Company:
Michael Toups, Chief Financial Officer
U.S. Office +1 727-641-1357
miketoups@gmail.com
Investor Relations:
Mike Bowdoin
RedChip Companies, Inc.
Tel: +1-800-733-2447, Ext. 110
Email: info@redchip.com
Jing Zhang, Chief Representative
RedChip Companies Beijing Office
Tel: +86 10-8591-0635
Web: http://www.RedChip.com
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