Our Strategy of Internationalization Spurs Enrollment and Revenue Streams from Abroad
MIDDLETOWN, Ohio, Oct. 1, 2024 /PRNewswire/ -- EpicQuest Education Group International Limited (Nasdaq: EEIQ), ("EpicQuest Education", "EEIQ" or the "Company"), a provider of higher education for domestic and international students in the US, Canada and the UK, today announced an update of new collaborative academic programs at its owned and operated Davis University ("Davis"). The Company believes that these programs are key additions to its core mission of internationalization.
EpicQuest Education Group International Limited (PRNewsfoto/EpicQuest Education Group International Limited)
"Our company revenue is substantially bolstered by our programs abroad due to our strategy to collaborate with elite international institutions," commented Zhenyu Wu, CFO of EpicQuest Education. "This enables international students to study in their home countries while also creating a pool of students who choose to complete their studies at our Davis University in Toledo. All of the new programs announced today have the potential to expand from one major to three majors so that both student enrollment and the revenue from these programs could increase substantially."
Davis University Collaborative Programs Update
A Doubling in Enrollment at Chongqing Institute of Technology and Business. In the second year of Davis University's 3+0 program with Chongqing Institute of Technology and Business ("CQCEE"), Davis' students enrolled in both the first year and second year of the program as of September 2024 doubled to 100 students. In September 2022, 50 students from Davis were enrolled in the first year of the program, and these students have subsequently moved on to the second year of the program. This brings the total number of Davis students to 150 students enrolled in the program, with an additional 100 students expected to enroll in September of 2025.
The '3+0' Graphic Design Professional Program at CQCEE provides Davis students the opportunity to take coursework at Chongqing College for three years with no additional coursework required on Davis' campus in Toledo. Upon completion of the program, Davis students would receive a diploma from Chongqing College and an associate degree certificate from Davis University. In addition, upon graduation, Davis students can choose to transfer to its Bachelor of Science program in Toledo or university partners to pursue Bachelor's degrees.
A Collaboration Agreement with Shijiazhuang College of Applied Technology. The agreement between Davis University and Shijiazhuang College of Applied Technology ("Shijiazhuang College") outlines a plan for the two schools to mutually develop an Advertising and Art Design diploma program, to be taught in both Toledo, Ohio, and Hebei Province, China, with plans to enroll 100 students every year for seven years.
Importantly the program's recruitment in China will be officially included in China's National Admission Plan to General Universities and Colleges, and student candidates who achieve the general diploma admission score will be selected for this program through the official admission procedure in China. Graduates of the three-year program will receive a Hebei Province Higher Vocational College Graduation Certificate from Shijiazhuang College and an Associate's Degree from Davis.
A Joint Program with Guangdong Communications Polytechnic. The agreement between Davis University and Guangdong Communications Polytechnic outlines a plan for the two schools to jointly run the Modern Logistics Management specialty education program at Davis. This program has been formally approved by the Guangdong Provincial Department of Education which enables Davis to recruit up to 100 students starting in September 2025 through September 2027, so that up to 300 students in total may be enrolled into this program.
EpicQuest Education's Mission of Internationalization
The Company believes that internationalization is a key element of its strategic growth plan. EpicQuest Education's growth plan is to have its operated colleges, Davis University and EduGlobal College, become increasingly focused on international recruiting and enhanced globalized learning to its students as well as pathways to achieve university degrees. The Company's strategic growth plan is to achieve international expansion and establish EpicQuest Education as a truly international service provider of higher learning.
About EpicQuest Education Group International Limited
EpicQuest Education Group International Limited ("EpicQuest Education" or the "Company") provides comprehensive education solutions for domestic and international students seeking university and University degrees in the US, Canada and the UK. The Company owns and operates EduGlobal University, based in British Columbia, Canada, which focuses on English proficiency educational programming for students pursuing academic degrees. The Company operates and is a 70% owner of Davis University, a career training University located in Toledo, Ohio. In addition, the Company has a recruiting relationship with the Miami University Regional campuses, where it maintains residential facilities, a full-service cafeteria, recreational facilities, shuttle buses and an office for the regional campuses that provides study abroad and post-study services for its students; these facilities are not owned, maintained, operated or are a part of Miami University. The Company is also a recruiting agent for the University of the West of Scotland (through The Education Group (London) Ltd) and Coventry University, both of which are located in the UK. EpicQuest Education recently established a wholly owned subsidiary, Gilmore Inv LLC, in Ohio, that will offer international educational programs related to kinesiology and recreation education. The Company also established a company in Ohio, SouthGilmore LLC that has been formed to organize sports-related entertainment projects, which is 40% owned by Gilmore. For more information, please visit www.epicquesteducation.com/.
Safe Harbor Statement
Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements in this release include, without limitation, the ability of the Company to achieve the enrollment goals outlined and the ability of the Company to achieve meaningful future revenue increases. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as "may," "will," "anticipate," "assume," "should," "indicate," "would," "believe," "contemplate," "expect," "estimate," "continue," "plan," "point to," "project," "could," "intend," "target" and other similar words and expressions of the future.
All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our most recent Form 20-F and otherwise in our SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.
