EpicQuest Education CFO and Board Member Provide Corporate Update in Global Market Bulletin Interview
PR Newswire
7 min read
EEIQ's Mission of Internationalization Expected to Result in Strong FYE Operating Metrics
MIDDLETOWN, Ohio, May 7, 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 that its Chief Financial Officer, Zhenyu Wu, and Board of Director's member, Craig Wilson, provided Company updates in a recent interview with Global Market Bulletin (GMB), which is a leading provider of financial news and economic information for investors including stock market updates, analyst investing reports and executive video interviews.
EpicQuest Education Group International Limited (PRNewsfoto/EpicQuest Education Group International Limited)
"Craig and I are glad to have provided a corporate update in our interview with Global Market Bulletin where we conveyed strong growth metrics for our owned and operated colleges," said Zhenyu Wu, CFO of EpicQuest Education. "Our mission of internationalization underpins our growth strategy and we are pleased to have shared an array of initiatives that we have undertaken that we believe will be very successful as new revenue streams for the Company."
Among the take-aways from the interview are:
The Company continues to be focused on providing a great return on investment for its students because of its focus on practical, career-focused education.
The Company's enrollment metrics are growing as compared to the national trend which has shown a decrease in student enrollment in higher education.
Pathway and collaborative programs are a vital element of the Company's providing options to its students to optimize their academic journeys.
Davis University's heightened status and reputation, along with its four-year Bachelor's degree in Business will help in both its domestic and international recruiting and offers a career path into many professions.
EduGlobal College's 'Canada Top 3 Elite' Program provides a turnkey approach and offers a spectrum of academic programs and services for Chinese students who want to transfer to Canadian universities: these include a solid English foundation, help with the transfer process, career planning, comprehensive life services and long-term residency advisory consultations.
The Company's recruiting office in Sri Lankacomprises a brand new team and aligns with its mission of internationalization as it provides an important overseas hub for recruiting from China, India, Malaysia, the Philippines and Singapore.
Davis University's new STEM programs in Data Science and Computer Engineering continue to attract international students, especially those from China and India who continue to view the US as the most attractive overseas study abroad country. Overseas study from India has increased by 35% for the 2022-23 academic year and the Company views India as a highly attractive recruitment market.
The Company's premier foundational program at preeminent Peking University increased 300% midway through the recruiting season, with an expected 8x increase by September 2024 as compared to the year-ago period. This represents an additional revenue stream for the Company and it will also help direct new students into its two schools, Davis University in Ohio and EduGlobal College in Vancouver.
Board member Craig Wilson added that the Company has sustainable growth through a strategy of internationalization, and that it engages early in the process with its foundational programs and international collaborations to ensure enrollment at the Company's two campuses. The Company's recruiting is diverse and effective, but the key is the Company's messaging of a one-stop holistic approach that provides options to students to help them do what is best for them.
Board member Craig Wilson summarized that students are the Company's customers and a student-centric approach combined with EEIQ's growth strategy of internationalization will be successful in the long-term.
CFO Zhenyu Wu concluded the interview by discussing the Company's growth strategy which includes entering the sports education and entertainment segment and making strategic acquisitions where appropriate. CFO Zhenyu Wu added that the Company has diversified sources of revenue and a highly experienced management team that will lead to strong growth in student enrollment growth and growth in the value of the Company.
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 EEIQ 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 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.
