HANGZHOU, China, Mar. 14, 2017 /PRNewswire/ -- Hailiang Education Group Inc. (Nasdaq: HLG) (“Hailiang Education” or the “Company”), a provider of private K-12 educational services in China, today announced that Hailiang Foreign Language School, a school owned and operated by the Company’s Variable Interest Entity, Zhejiang Hailiang Education Investment Co., Ltd., has entered into a collaboration agreement (“Agreement”) with Thomas Carr College in Australia under the authorization of Victorian Curriculum and Assessment Authority (“VCAA”). The Agreement allows Hailiang Education to deliver Victorian Certificate of Education (“VCE”) program in addition to Chinese high school curriculums, and provide students with an internationally recognized high school diploma for use in both domestic and overseas university applications.
Hailiang Education’s VCE dual-diploma program integrates international VCE courses into the standard Chinese senior high school curriculums. Registered in both the State of Victoria, Australia and China, students in the VCE dual-diploma program will receive internationally recognized diplomas and scores after passing VCE standard tests. Students will then be able to use these diplomas and scores to apply for universities in several countries, including Australia, the United Kingdom, and the United States, without the need to complete college preparatory courses and the International English Language Testing System (“IELTS”) test. VCAA and Thomas Carr College will also form a joint management committee with Hailiang to provide supervision and relevant resources to the program, including training of the schools and educators, expert consultancies, high-quality curricula customization, faculty recruitment and internationally recognized assessment products. The Company expects to begin marketing the VCE program in March and will start the annual open enrollment period in April 2017.
Mr. Ming Wang, Chairman and Chief Executive Officer of Hailiang Education, commented, “We are pleased to further expand our renowned international programs by adding VCE courses to our curriculums and benefit students who are planning to pursue undergraduate educational opportunities overseas. The VCE is accepted for entry to all Australian universities and most international universities. Students passing VCE tests are not required to complete additional preparatory courses and language tests, which significantly saves both the students’ time and financial resources. In addition, the VCE dual-diploma program enables students to participate in the National College Entrance Examination in China (‘Gaokao’), offering an additional choice to achieve our students’ academic goals.”
“With an increasing number of our graduates achieving outstanding academic results in Gaokao, or received admission offers from leading international universities, we continue to expand our diversified educational offerings through the introduction of high-quality education resources, both in China and overseas. These efforts further enrich the learning experience of our students and attest to our mission of developing tailored educational programs that best suit the individual interests, capabilities and career goals of our students. We believe the dual-diploma program will also help to strengthen our brand reputation and better position us for organic growth and long-term profitability,” concluded Mr. Wang.
About The Victorian Curriculum and Assessment Authority (VCAA)
The Victorian Curriculum and Assessment Authority (VCAA) is a statutory government body in the Australian state of Victoria, which reports to the Victorian Minister for Education. The VCAA provides high-quality curriculum, assessment and reporting for all students in Victoria. VCAA products and services are also available elsewhere in Australia and worldwide through the VCAA international program.
About Hailiang Education
Founded in 1995, Hailiang Education operates, via its Variable Interest Entity, Zhejiang Hailiang Education Investment Co., Ltd., three centrally managed schools in Zhuji city, Zhejiang province: Hailiang Foreign Language School, Zhuji Private High School and Tianma Experimental School. Hailiang Education Park, the Company's newest campus, was opened in September 2015 and represents Hailiang Education's commitment in delivering comprehensive and high-quality educational programs. Hailiang Education offers a variety of educational programs, including basic educational programs and international programs at the kindergarten, primary school, middle school, and high school levels, as well as preparatory courses designed for university-bound students studying for A-level courses in the United Kingdom and the SAT examination in the United States.
For more information, please visit http://ir.hailiangedu.com.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company's business strategies and initiatives as well as the Company's business plans; the Company's future business development, results of operations and financial condition; expected changes in the Company's revenue and certain cost or expense items; trends and competition in the education industry in China; general economic and business conditions in China; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.
Mr. Bo Lyu
T: +86 571 5812-2010
Ms. Emilie Wu
The Piacente Group
T: +86 10 5730-6200
Mr. Alan Wang
The Piacente Group
T: +1 212 481-2050