BEIJING, Nov. 15, 2017 /PRNewswire/ -- Tarena International, Inc. (NASDAQ: TEDU) ("Tarena" or the "Company"), a leading provider of professional education services in China, today announced that it has signed a strategic partnership agreement with Zhejiang E-Commerce Bank Co. Ltd ("MYbank"), an affiliate of Ant Financial Services Group, to provide financing services for Tarena students.
Pursuant to the agreement, MYbank will offer student loans to Tarena students to assist them in paying for tuition fees. Tarena and MYbank will work together in developing the internet "finance + education" business and providing student customers with the best service experience.
"We welcome MYbank in becoming one of Tarena's financing partners for providing student loans to our students," said Shaoyun Han, Founder, CEO and Chairman of Tarena. "Tarena has formed cooperative relationship with a number of outstanding financing institutions in China. The participation of MYbank further diversified payment options and increased financing flexibility for our students. We look forward to a long term cooperation with MYbank."
About Tarena International, Inc.
Tarena International, Inc. (NASDAQ: TEDU) is a leading provider of professional education services in China. Through its innovative education platform combining live distance instruction, classroom-based tutoring and online learning modules, Tarena offers professional education courses in twelve IT subjects and three non-IT subjects. Tarena also offers three kid education programs. Its professional education courses provide students with practical skills to prepare them for jobs in industries with significant growth potential and strong hiring demand. Since its inception in 2002, Tarena has trained over 438,000 students, cooperated with more than 690 universities and colleges and placed students with approximately 113,000 corporate employers in a variety of industries. For further information, please visit http://ir.tedu.cn.
Zhejiang E-Commerce Bank Co. Ltd ("MYbank") is one of the first private banks in China. It was launched in May 2015 and jointly initiated by Zhejiang Ant Financial Services Group Co. Ltd., Shanghai Fosun Industrial Technology Development Co., Ltd., Universal Agriculture Group Co., Ltd. and Ningbo Gold Run Asset Management Co., Ltd. The bank focuses on financial services for small and micro business, as well as online consumers through the Internet platform. For further information, please visit https://www.mybank.cn/
Safe Harbor Statement
This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Tarena may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including any business outlook and statements about Tarena's beliefs and expectations, are forward-looking statements. Many factors, risks and uncertainties could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: Tarena's goals and strategies; its future business development, financial condition and results of operations; its ability to continue to attract students to enroll in its courses; its ability to continue to recruit, train and retain qualified instructors and teaching assistants; its ability to continually tailor its curriculum to market demand and enhance its courses to adequately and promptly respond to developments in the professional job market; its ability to maintain or enhance its brand recognition, its ability to maintain high job placement rate for its students, and its ability to maintain cooperative relationships with financing service providers for student loans. Further information regarding these and other risks, uncertainties or factors is included in Tarena's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and Tarena does not undertake any obligation to update such information, except as required under applicable law.
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