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EEIQ: Growing Enrollments & Diversification Efforts - Positive Indicators

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By M. Marin

NASDAQ:EEIQ

READ THE FULL EEIQ RESEARCH REPORT

Shifting some recruitment marketing efforts to online helps drive numbers of matriculating students returning toward pre-pandemic levels…

Elite Education Group (NASDAQ:EEIQ) recently reported 1H21 results and provided a business update. The company has been able to leverage online platforms to market its programs, support recruitment efforts and boost student enrollments. Shifting some recruitment marketing efforts to a virtual or online format has helped drive the numbers of matriculating students towards pre-pandemic levels.

As of June 30, 2021, the number of students who had been admitted to the English language programs at Miami University (MU) and paid tuition fees increased substantially compared to 2020. Specifically, 58 students had been admitted to MU and paid their full tuition fees. By comparison by this time in 2020, only three students had been admitted and paid the full tuition. Elite views this as a positive indicator of the accelerating return to pre-pandemic conditions and enrollment metrics.

The company is also expanding its marketing efforts in China to further collaborate with domestic universities and institutions bridging with preparatory programs. During the global pandemic, Elite initiated a strategy to work with a greater number of academic institutions.

Focused on Geographic Diversification Efforts

The company is also focused on its diversification efforts to expand operations in Canada, the U.K. and potentially other markets in order to replicate the success it has had with its MU model and extend its operating footprint. Elite has Highrim Holding International Limited in Canada to focus primarily on expanding the company’s operations in Canada and the U.K.

The company believes that by providing an end-to-end solution for students seeking to study abroad, including language training to help students improve English language proficiency, preparatory services to help with the application process to gain admission to its partnered university, as well as a full range of solutions while students are at the destination university, the company makes it possible for Chinese students who might not otherwise pursue international study to do so. Elite aims to be a one-stop solution to make it easier for candidates to prepare for and apply for international study and then complete study abroad.

Moreover, while Chinese regulators have recently tightened regulations around the private afterschool education industry, the company believes that the new regulatory directives underscore the value of its service offerings and the differences between the services it provides and those offered by the afterschool education sector.

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