China Education Resources Inc (OTC:CHNUF)

VANCOUVER, British Columbia, May 31, 2018 (GLOBE NEWSWIRE) -- China Education Resources, Inc. ("CER") (CHN.V) (CHNUF), an ed-tech company with leading technology of intelligent system and contents to provide online/offline learning, training courses and social media for teachers, students and education professionals, announced its financial results for the first quarter of 2018. All figures are expressed in U.S. dollars.

China Education Resources generated gross revenues of $2,751,149 in the first quarter of 2018. This is compared to gross revenue of $2,787,451 for the same period in 2017. It recorded a net income attributable to shareholders of $161,162 as compared to a net income attributable to shareholders of $338,954 for the same period in 2017.

The decrease in revenue from the book sales and distribution services for the current quarter as compared to the same period in 2017 was due to content of some textbooks to be updated. The online products sales are continually growing.

"CER’s business is doing well; we are pleased of making progress in both soccer project and existing business. The online teacher training program has expanded into new provinces in China and the indoor soccer training program has registered more than 300 members. CER is also discussing soccer education program with various education authorities and companies,” said Chengfeng Zhou, CEO, China Education Resources. “We expect the sales of the Company in 2018 will generate more revenue than 2017.”

VANCOUVER, British Columbia, Dec. 06, 2017 (GLOBE NEWSWIRE) -- China Education Resources, Inc. ("CER") (CHN.V) (CHNUF), an ed-tech company with leading technology of intelligent system and contents to provide online/offline learning, training courses and social media for teachers, students and education professionals, today provides shareholders and investors with an update on its business performance.

1. Soccer Project

CER is making progress on the soccer project in China and has the following achievements:

CER, together with its partners, has completed the most comprehensive high-quality soccer textbooks with online/offline solutions for soccer education program. The soccer textbooks include thirteen student soccer textbooks (one book per grade) and four teacher’s books for teaching the student soccer textbooks. The soccer textbooks also have soccer training video contents for students and teachers.

The online training platform of soccer education provides a vertical blended learning, teaching, research and management system for "student-teacher-school community;" highlights the central role of personal studio, provides various forms of curriculum resources and interactive learning tools. Users can choose courses and services, combine district, school, class and individual as a whole group for different levels of learning, teaching and research activities. Users can scan the QR code on the soccer textbooks to enter the learning & training platform via their mobile phones.

Partner with the sports companies of Spain and U.K., CER can arrange registered UEFA soccer coaches to go to China for face-to-face tutoring and teaching on soccer training activities to Chinese students and local coaches, or arrange Chinese students to go to overseas for soccer summer camp programs. These activities will be available for different ages of students.

Through our comprehensive high-quality textbooks, video contents, training programs, on-line platform and cellular phone technology, CER will out-perform our competitors with our total solutions to both the students and teachers in soccer learning and training in China.

2. Existing Business

Up to date, CER’s online teacher training program has expanded into another four new provinces in China. 

CER is recently selected by the Ministry of Education, China to provide vocational teacher training programs. The vocational online training platform has been developed by CER together with an initial 185 training courses.

We are pleased of making progress in both the soccer project and existing business and expect them to generate more revenue in 2018.

VANCOUVER, British Columbia, Nov. 29, 2017 (GLOBE NEWSWIRE) -- China Education Resources, Inc. ("CER") (CHN.V) (CHNUF), an ed-tech company with leading technology of intelligent system and contents to provide online/offline learning, training courses and social media for teachers, students and education professionals, announced its financial results for the third quarter of 2017. All figures are expressed in U.S. dollars.

China Education Resources generated gross revenue of $ 1,538,276 in the third quarter of 2017. This is compared to gross revenue of $ 1,914,856 for the same period in 2016. The decrease in revenue was mainly due to content of some textbooks have to be updated according to the new requirements from the regulatory authorities. It recorded a net income attributable to shareholders of $332,266 as compared to a net income attributable to shareholders of $511,406 for the same period in 2016.

During the nine months ended September 30, 2017, the Company generated revenue of $9,715,057 as compared with $9,856,034 for the same period in 2017. The decrease in revenue was mainly due to content of some textbooks have to be updated according to the new requirements from the regulatory authorities. The net profit attributable to the shareholders of the Company for the period was $1,601,071 as compared to $1,553,454 net profit for the same period in 2016.

"There was a decrease in revenue from the book sales and distribution services for the current quarter as compared to the same period in 2016 as content of some textbooks have to be updated according to the new requirements from the regulatory authorities.” said Chengfeng Zhou, CEO, China Education Resources. “The sales revenue for the third quarter of 2017 decreased as compared with the same period of last year. However, the net income attributable to shareholders increased in the nine months of 2017 as compared with the same period of last year. The net income per share was $0.03USD for the nine months ended September 30, 2017”

The business of the company is continually doing well. We will update the progress of business to shareholders shortly.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sep 27, 2016) - China Education Resources Inc. ("CER") (TSX VENTURE:CHN)(CHNUF), an edu-tech company with leading technology in intelligent system and content provider for online learning, training courses and social media for teachers, students and education professionals, today provides shareholders and investors with an update on its business performance.

CER recently completed non-dilutive financing for 3 million RMB (approximately $600,000) with a China bank. The $600,000 bank loan has one year term with annual interest rate of 5.6% and is secured by the receivable of the Company. This fund will be used for the development of new products, generate additional sales revenue as well as general working capital purposes.

"We are very pleased to have non-dilutive financing through bank loan and our creditability with China banks will provide more options to CER for financing in future," said Chengfeng Zhou, CEO, China Education Resources. "Our goal is to deliver profits quarter to quarter. We expect the funds will assist us to execute on our plan and generate more revenue to CER."

VANCOUVER, Sept. 1, 2015 /PRNewswire/ - China Education Resources, Inc. ("CER") (TSXV: CHN) (OTCQX: CHNUF), an edu-tech company with leading technology in intelligent system and content provider for online learning, training courses and social media for teachers, students and education professionals, announced its financial results for the second quarter of 2015. All figures are expressed in U.S. dollars.

China Education Resources generated gross revenues of $3,983,311 in the second quarter of 2015. This is compared to gross revenue of $4,257,454 for the same period in 2014. It recorded a net income attributable to shareholders of $152,887 as compared to a net loss attributable to shareholders of ($332,775) for the same period in 2014.

During the six months ended June 30, 2015, the Company generated revenue of$7,401,323 as compared with $6,714,758 for the same period in 2014. The net profit attributable to the shareholders of the Company for the period was $554,646 as compared to ($230,881) net loss for the same period in 2014.

"We are very pleased with our significant increase in profit in the Q2 and six-month period ended June 30, 2015, and the operating performance of the company is expected strong for the remaining of the year." said Chengfeng Zhou, CEO, China Education Resources. "We have launched teacher training mobile APP and the formative assessment program in the first half of 2015, of which can provide various types of programs and services to teachers and students. We expect our unique and comprehensive blend of education resources and services will provide CER with long-term revenue potential."

VANCOUVER, June 15, 2015 /PRNewswire/ - China Education Resources Inc. ("CER") (CHN.V) (CHNUF), an edu-tech company with leading technology in intelligent system and content provider for online learning, training courses and social media for teachers, students and education professionals, today provides shareholders and investors with an update on its business performance.

CER is finalizing its first version of mobile APP for teacher training program and is also chipping the existing video contents to suit the mobile phone users as part of the solution to satisfy the Chinese government's plan to digitize education system and push forward information communication technology ("ICT") to expand the coverage of quality education. The Company expects that it will launch the mobile APP for teacher training program within a short period of time.

On top of the mobile APP for teacher training program mentioned above, CER is the first education service provider in China that can provide a "total solution" to satisfy the requirement from the Ministry of Education of China ("MOE") on ensuing that Chinese teachers can really use and apply their education technology skills in the classrooms after completion of the teacher training program. CER recently developed a formative assessment program which integrates the functions of CER School Platform as part of the teacher training program. The formative assessment program emphasizes on practicing the skills of delivering education contents to and interacting with their students through ICT in the classrooms.

Upon the completion of the first part of the teacher training program through computers or mobile phones on utilizing CER School Platform to create and administer tests and assessments that align with the learning objectives, the teachers are required to practice using ICT to deliver the education contents to the students and also train their students to use CER School Platform to complete and submit their homework and write the tests during the remaining period of teacher training program. The formative assessment program will assess teachers' training results through the ability and degree of the practice mentioned above and the academic improvement made by the students.

The formative assessment program is now initially taken by 6,000 high school teachers for their 2015 teacher training. "I am happy that our "total solution" approach for teacher training program is well received." said Chengfeng Zhou, CEO, China Education Resources. "The typical size of a China school classroom is around 50 students. After the teachers and students are trained to use CER School Platform, we anticipate that the teachers, students and education authorities will find out the benefits from using our interactive CER School Platform, which will in turn leading to great business opportunities to the Company in future."

In collaboration with China's education administrators and experts, CER has been helping to transform the curriculum of the world's largest educational system. Recognizing the need to address education reform changes, CER has created educational tools and curriculum for China's entire kindergarten through twelfth grade system. The Company is playing an integral part in transforming China's educational system through helping to convert the existing educational system from a memory-based learning system to a creative thinking and interactive approach. Presently, China Education Resources has over 1 million kindergarten through twelfth grade teachers registered through its Web portal. For more information, please visitwww.chinaeducationresources.com or call (604) 331-2388.

VANCOUVER, May 2, 2015 /PRNewswire/ - China Education Resources, Inc. ("CER") (TSXV: CHN, OTCQX: CHNUF), a leading technology and content provider of intelligent system, online learning, training courses and social media for teachers, students and education professionals, announced its financial results for the year ended December 31, 2014. All figures are expressed in U.S. dollars.

For the year ended December 31, 2014, CER reported aggregate sales revenue of $10,700,662 as compared to $10,085,422 for the same period in 2013, representing a 6.1% increase as a result of a 22.2% increase in book sales and distribution services and a 15.1% decrease in sales of online products in 2014. The decrease in revenue from online products for the current period as compared to the revenue of the same period of previous year was due to the fact that the regulatory authority in China is now revising the contents of the on-line teacher training resulting in a delay in launching the training courses. CER has developed the new contents which places more emphasis on digital technology for education. The Company recognized a net loss for the year ended December 31, 2014 of $791,396 attributable to the shareholders as compared to a net loss of$2,718,360 attributable to the shareholders for the same period in 2013.

VANCOUVER, Dec. 1, 2014 /PRNewswire/ - China Education Resources, Inc. ("CER") (TSXV: CHN) (OTCQX: CHNUF), a leading technology and content provider of online learning, training courses and social media for teachers, students and education professionals, announced its financial results for the third quarter of 2014. All figures are expressed in U.S. dollars.

China Education Resources generated gross revenues of $2,278,883 in the third quarter of 2014. This is compared to gross revenue of $3,475,166 for the same period in 2013. It recorded a net income attributable to shareholders of $348,906 as compared to a net profit attributable to shareholders of $741,010 for the same period in 2013. The decrease in revenue from online product sales for the current quarter as compared to the sales of the same quarter of previous year was due to the fact that the regulatory authority in China is now revising the content of the online teacher training resulting in a delay in launching the training courses.

Q3 of 2014 financial highlights include:

Online products revenue of $717,849 generated during the third quarter of 2014 as compared to $1,757,026during the same period in 2013.

Textbook sales revenue of $1,279,013 was generated during the third quarter of 2014 as compared to$1,718,140 during the same period in 2013. The decrease was due to the fact that some textbook sales previously happened in Q3 of 2013 had already been delivered in Q2 of 2014.

"The operating performance of the company continues to be strong, and the Company is growing according to its business plan" said Chengfeng Zhou, CEO, China Education Resources. "We expect our unique and comprehensive blend of education resources and services to generate more revenue, and we are encouraged by the increasing utilization of our internet platform and educational social network, which work together with our existing online/offline products."

VANCOUVER, Sept. 2, 2014 /PRNewswire/ - China Education Resources, Inc. ("CER") (TSXV: CHN) (OTCQX: CHNUF), a leading technology and content provider of online learning, training courses and social media for teachers, students and education professionals, announced its financial results for the second quarter of 2014. All figures are expressed in U.S. dollars.

China Education Resources generated gross revenues of $4,257,454 in the second quarter of 2014. This is compared to gross revenue of $4,052,614 for the same period in 2013. It recorded a net loss attributable to shareholders of $332,775 as compared to a net profit attributable to shareholders of $123,138 for the same period in 2013. The increase in cost of goods was due to the new textbook products and distribution services.

Q2 of 2013 financial highlights include:

Online products revenue of $1,555,108 generated during the second quarter of 2014 as compared to $2,124,335 during the same period in 2013. The decrease in sales revenue was due to delay in the starting of teacher training programs by the local education authorities in the current year;

Textbook sales revenue of $2,676,917 was generated during the second quarter of 2014 as compared to $1,928,279 during the same period in 2013.

During the six months ended June 30, 2014 , the Company generated revenue of $6,714,758 as compared with $6,455,983 for the same period in 2013. The net loss attributable to the owners of the Company for the period was $230,881 as compared to a net loss of $122,941 for the same period in 2013.

"Our sales revenue continuously keeps on increasing and the Company is growing according to its business plan" said Chengfeng Zhou , CEO, China Education Resources. "The strategic partnership with a major China local teacher continuous training company has started to benefit CER's business. We expect our comprehensive blended education resources and services will generate more revenue."

First Quarter 2014 Financial Results

• Gross revenues of $2,457,304 in the first quarter of 2014. This is compared to gross revenue of $2,403,369 for the same period in 2013
• The net profit attributable to the shareholders of the Company for the period was $101,894 as compared to a net loss attributable to shareholders of the Company of $246,079 for the same period of last year..

"Our sales revenue continuously keeps increasing and the Company is growing according to its business plan" saidChengfeng Zhou, CEO, China Education Resources. "The strategic partnership agreement with a major China local teacher continuous training company we recently signed will have the synergy effect of bringing together both parties' training contents and sales channels to deliver teacher training programs under CER's brand "New Thinking" to China kindergarten to grade 12 teachers via the CER's online training platform. The arrangement will significantly reduce CER's cost of marketing and development of teacher training programs and can generate more revenue to both parties. Due to the increase in the number of teachers involved in the training, we can also do cross selling of our other products and services at the same time."

VANCOUVER, May 1, 2014 /PRNewswire/ - China Education Resources, Inc. ("CER") (TSXV: CHN, OTCQX: CHNUF), a leading technology and content provider of intelligent system, online learning, training courses and social media for teachers, students and education professionals, announced its financial results for the year ended December 31, 2013. All figures are expressed in U.S. dollars.

For the year ended December 31, 2013, CER reported aggregate sales revenue of $10,085,422 as compared to $7,391,934 for the same period in 2012, representing a 36.4% increase as a result of a 56.9% increase in book sales and distribution services and 36.3% increase in online products in 2013. The net cash provided by the operating activities was $308,280 in 2013 as compared to net cash used by operating activities of $1,987,294 in 2012, representing a 115.5% improvement made in 2013. The Company recognized a net loss for the year ended December 31, 2013 of $2,802,724 attributable to the shareholders as compared to a net loss of $1,380,439 attributable to the shareholders for the same period in 2012. The increase in the loss for the current year was mainly due to the goodwill impairment loss of $2,305,805 (non-cash item) as a result of goodwill impairment analysis using restrictive assumptions and an increase in selling expenses of $382,713 to $3,362,290 to promote and develop the business of the Company.

"We are very pleased with the direction of our sales and operations. Our sales revenue continues to increase in 2013." saidChengfeng Zhou, CEO, China Education Resources. "The 2013 business results further strengthen our confidence that our business will continue to grow in 2014."

"We expect our unique and comprehensive blend of education resources and services to generate more revenue, and we are encouraged by the increasing utilization of our internet platform and educational social network, which work together with our existing online/offline products."

Third Quarter 2013 Financial Results

• Gross revenues of $3,475,166 in the third quarter of 2013. This is compared to gross revenue of $2,716,353 for the same period in 2012.
• Basic and diluted earnings per share was $0.02 the same as last year.

"We are very pleased with our continually increasing revenue in the Q3 2013, and the strong operating performance of the company." said Chengfeng Zhou, CEO, China Education Resources.

"We expect our unique and comprehensive blend of education resources and services to generate more on-line related revenue, and we are encouraged by the increasing utilization of our internet platform and educational social network, which work together with our existing online/offline products."

In collaboration with China's education administrators and experts, China Education Resources has been helping to transform the curriculum of the world's largest educational system. Recognizing the need to address education reform changes, China Education Resources has created educational tools and curriculum for China's entire kindergarten through twelfth grade system. The Company is playing an integral part in transforming China's educational system through helping to convert the existing educational system from a memory-based learning system to a creative thinking and interactive approach. Presently, China Education Resources has over 1 million kindergarten through twelfth grade teachers registered through its Web portal. For more information, please visit www.chinaeducationresources.com or call (604) 331-2388.

• Gross revenues of $4,052,614 in the second quarter of 2013. This is compared to gross revenue of $1,824,968 for the same period in 2012.
• Net profit attributable to shareholders of $123,138 as compared to a net loss attributable to shareholders of $177,321 for the same period in 2012. 
• Basic and Diluted earnings was 0.00 as it was in last  years second quarter 2012

"We are very pleased with our significant increasing revenue in the Q2 2013, and the operating performance of the company continues to be strong." said Chengfeng Zhou, CEO, China Education Resources.  "We expect our unique and comprehensive blend of education resources and services to generate more on-line related revenue, and we are encouraged by the increasing utilization of our internet platform and educational social network, which work together with our existing online/offline products."

VANCOUVER, May 31, 2013 /PRNewswire/ - China Education Resources, Inc. ("CER") (TSXV: CHN) (OTCQX: CHNUF), a leading technology provider of online learning, training courses and social media for teachers, students and education professionals, announced its financial results for the first quarter of 2013. All figures are expressed in U.S. dollars.

China Education Resources generated gross revenues of $2,403,369 in the first quarter of 2013. This is compared to gross revenue of $2,570,769 for the same period in 2012. It recorded a net loss attributable to shareholders of $246,079 as compared to a net profit attributable to shareholders of $610,839 for the same period in 2012.

Q1 of 2013 financial highlights include:

Online products revenue of $1,584,044 generated during the first quarter of 2013 as compared to $1,566,985 during the same period in 2012;

Text book sales revenue of $819,325 generated during the first quarter of 2013 as compared to $1,003,784 during the same period in 2012. The decrease in textbook sales is due to some customers have delayed in making the decision on whether to purchase traditional textbook or digital textbook.

CER is also very pleased to announce that we have signed the agreement with China Telecom (Gansu) to provide Smartphone services to our mobile learning program which is the new solution to CER School Platform for both of the students and teachers.

This program is a keystone to CER's business strategy, the teachers and students interact through our school platform, which is the centerpiece of our online education service business. Not only do teachers and students interact through our platform, they will propagate its use with other teachers, students and parents. Because of its advanced features and complete compliance with government programs, the Company expects that educators, students and parents will gravitate to the system to work, study, interact and develop social networks. We expect the new functions of the school platform will be an example of the high-growth potential of our products and business model.

VANCOUVER, Aug. 30, 2012 /PRNewswire/ - China Education Resources, Inc. ("CER") (TSXV: CHN) (OTCQX: CHNUF), a leading technology provider of online learning, training courses and social media for teachers, students and education professionals, announced its financial results for the second quarter of 2012. All figures are expressed in U.S. dollars.

China Education Resources generated gross revenues of $1,824,968 in the second quarter of 2012. This is compared to gross revenue of $1,103,954 for the same period in 2011. The loss of the second quarter was $177,321 as compared to a loss of $398,431 for the same period in 2011.

During the six months ended June 30, 2012, the Company generated revenue of $4,362,780 as compared with $3,271,740 for the same period in 2011. The profit attributable to the owners of the Company for the period was $433,518 as compared to $45,560 for the same period in 2011.

Q2 of 2012 financial highlights include:

Online products revenue of $739,416 generated during the second quarter of 2012 as compared to $303,438 during the same period in 2011;

Text book sales revenue of $1,085,552 generated during the second quarter of 2012 as compared to $800,516 during the same period in 2011.

"We are very pleased with our increasing revenues in our Q2 2012 results, particularly for the digital textbook sales which have started to generate revenue." said Chengfeng Zhou, CEO, China Education Resources. "We are utilizing our internet platform and educational social network together with our existing online/offline products which will provide blended comprehensive education resources and services to teachers and students. Our goal is to strengthen our position as the leading provider of digital educations services to China's K-12 sector."

With the successfully launched digital textbook program, CER is being approached by educational publishers to develop and provide digital supplementary materials to students through our school platform.

VANCOUVER, May 1, 2012 /PRNewswire/ - China Education Resources, Inc. ("CER") (TSXV: CHN, OTCQX: CHNUF), a leading technology provider of online learning, training courses and social media for teachers, students and education professionals, announced its financial results for the year ended December 31, 2011. All figures are expressed in U.S. dollars.

For the year ended December 31, 2011, CER reported aggregate sales revenue of $6,553,140 as compared to $5,436,165 for the same period in 2010. There was an increase in sales for the current year as compared to the sales of previous year. The Company recognized a net profit for the year ended December 31, 2011 of $83,481 as compared to a loss of $561,104 for the same period in 2010.

2011 financial highlights include:

• Online training revenue of $2,187,832 generated during 2011 as compared to $1,751,214 during the same period in 2010;
• Text book sales revenue of $4,365,308 generated during 2011 as compared to $3,684,951 during the same period in 2010.

"We are very pleased with the direction of our sales and operations. Our four-step growth plan is emerging as the foundation for a high-growth business model, as the increased revenues for 2011 are starting to suggest" said Chengfeng Zhou, CEO, China Education Resources. "Our contacts with over 200 education authorities in various provinces in China and signed deals with 14 provinces to provide online training for their teachers further strengthen our confidence in the successful commercialization of our leading edge products and services. The successful financial results in 2011, are more evidence that our revenue will continue to grow significantly in 2012."

CER is also pleased to update shareholders on the status of our arrangement with the Shanxi Provincial education authority, where we are finalizing an agreement to customize the Company's School Platform for their use. This arrangement will provide services and education resources to both teachers and students for educational reform in Shanxi Province. The education reform emphasizes interaction among teachers and students with digitized education resources and multimedia equipment in classrooms.

CER is concluding an agreement with Guizhou Province to provide digital textbooks to the students in Guizhou Province through our CERSP portal. This is a significant step for CER to combine the Company's internet portal with its traditional textbook business, which provides a unique opportunity for CER in the textbook industry.

The Company has developed an unparalleled and broad portfolio of education products that it believes is unavailable in any other education market. It has been market tested and developed in the world's largest education market. The Company intends to explore the potential to provide these online, networked products and services in other education markets. It may launch these products on its own or in partnership with domestic industry players. The Company's goal is to become the leading internet education service platform, content provider and social network to individuals and organizations in the education sector.

China Education Resources generated gross revenues of $2,112,587 and a net income of $332,823 in the third quarter that ended September 30, 2010. This is compared to gross revenues of $2,022,805 and a net income of $37,955 for the same period in 2009. A 776% increase in net income year-to-year.

Overall, during the nine month period that ended September 30, 2010, China Education Resources generated gross revenues of $4,709,589 and a net loss of $349,601 as compared to gross revenues of $2,087,596 and a net loss of $932,991 during this same period in 2009. A 125% increase in gross revenues year-to-year.

Third Quarter 2010 financial highlights include:

• Online teacher training revenues of $847,983 generated during the third quarter 2010 as compared to $111,239 during the same period in 2009 -- a 662% increase year-to-year;
• Online teacher training revenues of $1,180,038 generated during the first nine months of 2010 as compared to $155,424 during the same period in 2009 -- a 659% increase year-to-year.

"We are very pleased with the direction our sales and operations are heading. With our revenue figures for 2010 to date significantly surpassing last year's results, it is clear that China Education Resources is emerging as a technology and education industry leader," said Chengfeng Zhou, CEO, China Education Resources. "With our recent expansion now into 11 provinces in China - including the largest city and province in China - we are presently undergoing a major growth period that I expect will continue well into 2011."

"With over one million teachers blogging on the China Education Resources Web site already, the company is becoming a true education and technology leader in China," said Richard Donovan, a senior education consultant specializing in languages and cultures, former educator at California State University and associate dean at the Defense Language Institute.

China Education has announced the completion of an acquisition and has forecasted substantial revenue gains for 2010.

Revenue Forecast:

• 2009- at least $2 million
• 2010- significant increase over 2009

In 2008 China Education reported revenues of $477k.  The company is still losing money and made no specific comments regarding achieving profitability. We have requested an interview with management and will provide an update if warranted.

Source: Market Wire (October 08, 2009)