QuantaSing Expands Global Presence with Acquisition of Kelly's Education
September 18 2023 - 5:00AM
QuantaSing Group Limited (NASDAQ: QSG) (“QuantaSing” or the
“Company”), a leading online learning service provider in China,
today announced its acquisition of Kelly's Education, an online
language education platform headquartered in Hong Kong. This
transaction marks QuantaSing's entry into the global online
education market and the language learning sector. Following
completion of the transaction, Kelly’s Education will become a
wholly-owned subsidiary of the Company.
QuantaSing, known for its innovative online
platforms like QiNiu for financial literacy, JiangZhen for lifelong
learning, and QianChi for senior citizens' interests, serves an
extensive range of learning needs, empowering individuals to
consistently enhance their self-value. Kelly's Education provides
personalized online language education for children aged 3-15,
primarily in Hong Kong. The acquisition allows QuantaSing to tap
into the global online learning and new language education
sectors.
On its path to entering the global market,
QuantaSing is excited to introduce Hong Kong Online Education
(“HKOE”), a brand initially developed by Kelly’s Education, which
offers high-quality online English education for children, with a
focus on delivering value. HKOE adheres firmly to the belief that
top-tier education should be within reach for a broader audience of
children, not just a privileged few. By implementing a reasonable
pricing strategy, HKOE is determined to make premium English
education more affordable, presenting a range of course options
that accommodate various needs and budgets.
Mr. Peng Li, Chairman and Chief Executive
Officer of QuantaSing, said, “We are excited to integrate Kelly’s
Education and the new brand HKOE into our ecosystem. We
congratulate Ken and his team for developing such a strong offering
and look forward to our partnership. Their strong business model
and seasoned team lays a solid foundation for our global market
entry. We plan to broaden our course offerings, including Chinese
language learning, and diversify our revenue streams by appealing
to a wider age group. We remain committed to fulfilling the ongoing
demand from individuals seeking to improve their quality of life
and overall well-being through our diverse course offerings.”
Mr. Ken Chau, newly appointed Senior Vice
President of International Business at QuantaSing and founder of
Kelly’s Education, has the mandate to expand the business globally
while maintaining the high standard of courses through meaningful
partnerships. Mr. Chau commented, “Joining forces with QuantaSing
presents an exhilarating opportunity to leverage its strengths and
extend our business reach globally. Our vision for the future
encompasses not only broadening our reach but also continually
adapting our offerings to meet the dynamic needs of learners
worldwide.”
About QuantaSing Group Limited
QuantaSing is a leading online service provider
in China dedicated to improving people’s quality of life and
well-being by providing lifelong personal learning and development
opportunities. The Company is the largest service provider in
China’s online adult learning market and China’s adult personal
interest learning market in terms of revenue, according to a report
by Frost & Sullivan based on data from 2022. By leveraging its
proprietary tools and technology, QuantaSing offers
easy-to-understand, affordable, and accessible online courses to
adult learners under a variety of brands, including QiNiu,
JiangZhen, and QianChi, empowering users to pursue personal
development. Leveraging its extensive experience in individual
online learning services, the Company has also expanded its
services to corporate clients including, among others, marketing
services and enterprise talent management services.
For more information, please visit:
https://ir.quantasing.com.
ContactLeah Guo, Investor RelationsQuantaSing
Group LimitedEmail: ir@quantasing.com Tel: +86 (10) 6493-7857
Robin Yang, PartnerICR, LLCEmail: QuantaSing.IR@icrinc.com Tel:
+1 (212) 537-0429
Public Relations Brad Burgess, Senior Vice PresidentICR,
LLCEmail: Brad.Burgess@icrinc.com
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