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 Tracking 1027 U.S. listed China Stocks and Counting...
 Tracking 1320 U.S. Stocks and Counting...

 China Education Alliance (PINK:CEU)

Friday, December 23, 2011
Comments & Business Outlook

Investor Alert

HARBIN, China, December 23, 2011 /PRNewswire-Asia-FirstCall/ -- China Education Alliance, Inc. (NYSE: CEU) announced that on December 21, 2011, NYSE Regulation, Inc. (NYSE Regulation) delivered a notice to the company confirming that the exchange will suspend trading of the company's common stock on the NYSE prior to the opening of business on Thursday, December 29, 2011 and that the exchange intends to delist the company's common stock. The Company expects to commence trading on the over-the-counter (OTC) market that same day under a symbol yet to be determined.

Mr. Yu Xiqun, CEO of China Education Alliance commented: "We are very disappointed with the NYSE's decision to suspend trading and delist our shares. Since the onset of the unfounded allegations a year ago, we have at all times kept our doors open to all shareholders who have wanted to research our business inChina and have made ourselves available to help investors correctly understand our business. We have held two Annual General Meetings to discuss the future development goals and strategic plans of the Company. We have refused to be intimidated by rumors, none of which have proved true in more than one year. Our business performance has been recovering and our future prospects remains strong.

As of September 30, 2011 we achieved USD26.3 million in revenue and USD18.4 million of profit. We strongly believe our stock price and market value do not correctly reflect the performance and future prospects of our Company.


Wednesday, November 30, 2011
CFO Trail

HARBIN, China, November 30, 2011 /PRNewswire-Asia-FirstCall/ -- China Education Alliance, Inc. (NYSE: CEU) announced today the appointment of Ms. Cloris Li as Chief Financial Officer, effective November 30, 2011. Ms. Cloris Li replaces Ms. Alice Lee Rogers, who is taking on a new role as Vice President of the Company's North America business and operations. She became the Company's Chief Financial Officer in March 2011.

Ms. Cloris Li has acquired substantial experience in professional accounting and auditing, financial planning, tax advising, risk control and internal controls. In 2010 and 2011, Ms. Cloris Li worked as a consultant for PricewaterhouseCoopers in China where she provided audit, internal control advisory and SOX compliance services to both private and public companies. Prior to that she was Vice President at China Authority Holding Inc., a Chinese investment firm that also provides advisory services to companies going public from 2007 to 2009. From 2004 to 2006, she was a senior auditor and tax advisor in Romano Business Accountants Pty. Ltd. In 2003, she worked as an associate at Zhejiang Xiacheng Certified Public Taxation Accounts and Zhejiang Hongda Certified Public Accounts. Ms. Cloris Li graduated with a BA in Accounting from Queensland University Technology in Australia. She is a Certified Public Accountant and a member of Certified Public Accountant Australia.

"We are pleased to have Cloris on board as our Chief Financial Officer," said Mr. Xiqun Yu, CEO of China Education Alliance, Inc. "She has been involved, and acquired relevant skills, in all aspects of the life of a public company in the financial markets. We are fully committed to transparency and best corporate governance practices and we believe that her financial skills and professional experience will help us reach a higher level. We expect Cloris to play a leading role in our business expansion and strengthen our internal financial controls, and financial planning and reporting.

"I also want to thank Ms. Alice Lee Rogers for her hard work and commitment to our Company. We look forward to continuing to work with her in her new role."


Sunday, November 13, 2011
Comments & Business Outlook
 
   
Three months ended September 30
   
Nine months ended September 30
 
   
2011
   
2010
   
2011
   
2010
 
Revenues
                       
Online education revenues
  $ 5,330,692     $ 8,629,101     $ 14,458,244     $ 21,246,633  
Training center revenues
    4,147,879       5,223,860       11,618,155       11,013,279  
Other Revenues
    80,530       524,249       206,214       1,587,128  
Total revenue
    9,559,101       14,377,210       26,282,613       33,847,040  
                                 
Cost of Goods Sold
                               
Online education costs
    1,586,084       1,281,634       4,888,630       3,524,119  
Training center costs
    1,170,677       1,081,937       2,985,553       2,344,862  
Other costs
    10,603       36,776       28,986       114,613  
Total cost of goods sold
    2,767,364       2,400,347       7,903,170       5,983,594  
                                 
Gross Profit
                               
Online education gross profit
    3,744,607       7,347,467       9,569,614       17,722,514  
Training center gross profit
    2,977,203       4,141,923       8,632,602       8,668,417  
Other gross profit
    69,927       487,473       177,227       1,472,515  
Total gross profit
    6,791,737       11,976,863       18,379,443       27,863,446  
                                 
Operating Expenses
                               
Selling expenses
    2,199,187       5,182,765       7,743,091       10,902,529  
Administrative
    1,358,716       781,169       5,046,511       1,808,209  
Depreciation and amortization
    475,871       219,435       1,198,840       716,909  
Total operating expenses
    4,033,773       6,183,369       13,988,441       13,427,647  
                                 
Income/(Loss) from operations
    2,757,963       5,793,494       4,391,002       14,435,799  
                                 
Other Income/ (Expense)
                               
Other income/(Expense)
    (92,088 )     631       (162,108 )     21,769  
Loss on disposal of fixed assets
    (5,908 )     -       (647,352 )     -  
Interest income
    470,716       61,384       1,377,097       158,919  
Investment loss
    -       (526 )     -       (8,132 )