Benzinga | Sep 9, 2021 09:24AM EDT

China Liberal Enters into ~$3.85M Million Purchase and Sale Contract of All-in-one Machine AI-Space

China Liberal Education Holdings Limited (Nasdaq: CLEU) ("China Liberal", the "Company", or "we"), an educational services provider in China, providing, among other services, smart campus solutions, today announced that the Company entered into a definitive purchase and sale contract on September 7, 2021 ("Contract") with Beijing Cloud Class Technology Co., Ltd. ("BCCT"), a talent incubation platform for technological innovation and creative industries in China.

Pursuant to the Contract, the Company agrees to sell 100 AI-Space machines, a type of all-in-one machine designed to provide highly integrated visualization solutions for various scenarios with strict reliability requirements ("AI-Space"), to BCCT for the construction and upgrading of about 100 smart classrooms in universities and colleges in the Inner Mongolia Autonomous Region and Shandong province in China. In consideration, BCCT agrees to pay RMB25 million (approximately US$3.85 million) for the machines, including an RMB2 million down payment paid on September 9, 2021.

AI-Space is China Liberal's self-developed and patented all-in-one machine. It adopts the design concept of all-in-one, and integrates audio processor, seamless mixed video matrix unit, programmable central control unit, gigabit switch unit, cross-platform runtime, recording and broadcasting codec, video conference terminal and multi-party interactive Multipoint Control Unit ("MCU"). AI-Space can be applied to various scenarios including online-merge-offline integrated teaching, intelligent classroom management and control, and integrated campus management. The main functions include synchronized recording and broadcasting of courses, visualized teaching supervision, automatic tracking of portrait recognition, free switching of teaching screens, one-key touch of multimedia equipment, integrated management and control, remote operation and maintenance, ringing system, IP public broadcasting, campus security and other functions.

AI-Space has been implemented in several colleges and universities across China, including Beijing Foreign Studies University, Beijing Language and Culture University, and Straits Institute of Minjiang University.

Ms. Ngai Ngai Lam, Chairwoman and CEO of China Liberal, commented, "We are excited to have entered into the Contract, which demonstrates that our AI-Space has been recognized by the market and the industry. We expect that the cooperation with BCCT will leverage our strengths in exploring the development of education informatization, assist in the construction and upgrade of 100 smart classrooms in 12 colleges and universities in Inner Mongolia Autonomous Region, and promote the overall improvement of teaching quality."

About Beijing Cloud Class Technology Co., Ltd.

Beijing Cloud Class Technology Co., Ltd. ("BCCT") operates a talent incubation platform for technological innovation and creative industry with focusing on the integration of production and education for higher education in China. Its core business includes the training of professional and technical personnel who are in short supply in strategic emerging industries, the innovation and application of educational information technology, the transformation of innovative and creative achievements, and the entrepreneurial services for college students. For more information, visit the company's website at www.yunbanedu.com/index.html.

About China Liberal Education Holdings Limited

China Liberal, headquartered in Beijing, is an educational services provider in China. It provides a wide range of services, including those under Sino-foreign jointly managed academic programs; overseas study consulting services; technological consulting services for Chinese universities to improve their campus information and data management system and to optimize their teaching, operating and management environment, creating a "smart campus"; and tailored job readiness training to graduating students. For more information, visit the company's website at ir.chinaliberal.com.