Benzinga | Dec 15, 2020 07:41AM EST

China Liberal Education Holdings Limited Reports Sales Of 46,626 Copies Of Self-Developed Textbooks Published By Fudan University Press

BEIJING, Dec. 15, 2020 /PRNewswire/ -- China Liberal Education Holdings Limited (NASDAQ:CLEU) ("China Liberal", or the "Company", or "we"), an educational services provider in China, today reported the sales results of its self-developed textbooks published by Fudan University Press ("FUP"). A total of 46,626 copies of textbooks were sold as of December 14, 2020 and some of these textbooks were distributed to the Chinese host universities, including Fuzhou Melbourne Polytechnic and Straits Institute of Mingjiang University, to be used in the joint education programs.

The Company signed three book publishing contracts (the "Contracts") with FUP on November 7, 2019. Pursuant to the Contracts, FUP agreed to pay the Company royalties in exchange for FUP's exclusive publication and distribution rights for 12 English textbooks which were developed and edited by the Company with emphasis on language training (including reading, writing, speaking and listening skills). FUP has already published nine textbooks under the Contracts and will publish the remaining three textbooks by December 31, 2020. FUP also agreed under the Contracts that the Company reserves the copyrights of these textbooks.

Ms. Ngai Ngai Lam, Chairwoman and CEO of China Liberal, commented, "We are pleased to report the sales results of our self-developed textbooks published by FUP. The publication of these textbooks showcases the Company's teaching and research capacities. As these textbooks are used in different universities, they lay a good foundation for the Company to cooperate with more of universities. We have always concentrated on the quality of our own teaching materials because they are an important part of our educational service business. Moving forward, the Company will utilize platform resources from both foreign and Chinese universities it cooperates with to edit and publish more textbooks covering subjects, such as computer science and intelligent manufacturing."