TAIYUAN CITY, China, Jan. 25, 2011 (GLOBE NEWSWIRE) -- China Bilingual Technology & Education Group Inc. (OTCBB:CBLY) ("China Bilingual" or the "Company"), an education company that owns and operates high-quality, K-12 private boarding schools in China, announced today that the number of new student applications to its two schools has increased from approximately 4,800 for the 2009-2010 school year to approximately 9,600 for the 2010-2011 school year.
The Company filled 1,500 open positions at its two schools for the current school year, resulting in an acceptance rate of 16% for new student applicants and total enrollment of approximately 10,000 students for the 2010-2011 school year. Applicants to China Bilingual's schools must pass an entrance exam and screening interview to evaluate each student prior to acceptance and ensure that they can meet the academic rigors of the school.
The Company attributes the growth in new student enrollment applications to the strong academic reputation of its schools and the exceptional performance of its students on the National College Entrance Examination. In 2010, the Company's Shanxi Modern Bilingual School received the "Excellent High School" award in Taiyuan, a distinction given to only 10 high schools out of more than 100 in the region, and was the only private high school to receive this award. China Bilingual also received an official letter of appreciation from Beijing University, considered China's equivalent of Harvard, commending China Bilingual for the caliber of preparation and overall performance of its graduates at the university.
Ren Zhiqing, Chairman and CEO of China Bilingual, commented, "Our schools had the highest college acceptance rates in their respective regions this past year. For example, our Shanxi school had 42% of its 2010 graduates accepted into Tier-1 universities, the equivalent of Ivy League universities in the United States, and schools outside of China. 65% were accepted into Tier-2 provincial universities or better, and 99% were accepted into at least Tier-3 local universities or better. Our Sichuan school experienced similar success. This is especially impressive considering that the average college acceptance rate for recent high school graduates in China is only 25%. Our rigorous curriculum, state-of-the-art campuses and facilities, and the superior academic performance of our students allow us to charge a premium for our educational services and be very selective in screening applicants, which will continue to give us an advantage as we expand our business model."
To view a video clip about the background, educational philosophy and growth of China Bilingual's schools, please click here:
To watch an exclusive interview with the CFO of China Bilingual, Michael Toups, at Financial Fest 2010 in Phoenix, please click here:
About China Bilingual Technology & Education Group Inc.
China Bilingual Technology and Education Group, Inc. is an education company that owns and operates high-quality, K-12 private boarding schools in China. Founded in 1998, the Company currently operates two schools encompassing the kindergarten, elementary, middle and high school levels with approximately 10,000 students and 1,500 faculty and staff.
The Company's schools are located in Shanxi and Sichuan Provinces and provide students with an innovative and high-quality education with a focus on fluency and cultural skills in both Chinese and English. The schools regularly rank among the top schools in their respective regions for college entrance rates and national college entrance exam scores. The Company's schools have earned excellent teaching reputations and are recognized for the success of their students and strong faculty.
As China experiences rapid industrialization and economic growth, the government is focused on education as a means to increase worker productivity and raise the standard of living. Parents in China's new middle and upper classes are sending their children to receive private school education to give them an advantage in China's increasingly competitive workforce. The Company's sector in education is not subject to corporate income tax, and the Company anticipates its growth will come from both organic growth through increased enrollment and expansion of its business model and teaching methods into new schools to be acquired by the Company.
Forward-Looking Statements
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, product demand, market competition, and risks inherent in our operations. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. For additional information, readers should carefully review reports or documents the Company files periodically with the Securities and Exchange Commission.
CONTACT: At the Company: Michael Toups, Chief Financial Officer U.S. Office +1 727-641-1357 miketoups@gmail.com Investor Relations: Mike Bowdoin RedChip Companies, Inc. Tel: +1-800-733-2447, Ext. 110 Email: info@redchip.com Jing Zhang, Chief Representative RedChip Companies Beijing Office Tel: +86 10-8591-0635 Web: http://www.RedChip.com