Hailiang Education Taps ELS America to Prepare Students for Studying in the U.S.
With a significant increase in the number of Chinese students transferring to schools in the United States, private K-12 education company Hailiang Education Group Inc. (Nasdaq: HLG) has entered into a partnership with ELS American Education Consulting in Shanghai to help prepare students for the transition.
Through the partnership, Hailiang's Foreign Language School will offer ELS English together with a technology lab for individualized support. The agreement will take advantage of ELS America's expertise and resources for effective language teaching.
News of the new partnership came as Hailiang continues a strong showing in recent months. The stock, which closed Friday at $42.99 per share, is up more than fourfold in the past three months.
Just last month, the company, which served 21,000 students in the fiscal year ended June 30, reported that revenue increased 30.5 percent to RMB 853.3 million ($125.9 million) for the 12 months, thanks primarily to increases in its tuition fee in its international program and a 12 percent rise in student enrollment. For the year, Hailiang said its net profit increased 68.7 percent to RMB 167.7 million ($24.7 million).
"We made substantial improvements in advancing our vision and strategy, and building our brand awareness and promoting our company's culture, while at the same time rapidly expanding the profitability of and growth in our business operations," said Ming Wang, Chairman and Chief Executive Officer.
In recent years, Chinese students have led the way in international enrollment, according to a study published by NBC. The study revealed that 2 of every 5 international students in American high schools between 2013 and 2016 came from China, and that the total number of students from China rose almost 50 percent.
While the U.S. has long been a popular destination for college students, foreign students are now coming over much earlier. One of the primary draws of arriving earlier in their academic career is the ability to refine their English language skills and get better acquainted with the American culture before they arrive on a college campus. Hailiang Education hopes to support these students as they make their transition through this new partnership.
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