CHNUF Q3 2012 Financial Results

China
Education Resources Inc. Reports Q3 2012 Financial Results

 

VANCOUVER, Canada (November 29, 2012) - China
Education Resources, Inc. ("CER") (TSXV: CHN) (OTCQX: CHNUF), a
leading technology provider of online learning, training courses and social
media for teachers, students and education professionals, announced its
financial results for the third quarter of
2012. All figures are expressed in U.S. dollars.

 

China
Education Resources generated gross revenues of $2,716,353 in the third quarter
of 2012. This is compared to gross revenue of $3,162,211 for the same period in
2011. There was a decrease in sales for the current quarter as compared to the
sales of the same quarter of previous year as some book sales orders were
delayed.

 

The net profit of the third quarter attributable to the shareholders was $1,008,994 as compared to
a net profit of $670,842 for the same
period in 2011.

 

During the nine months ended September 30, 2012, the Company
generated revenue of $7,079,133 as compared with $6,433,951 for the same period
of last year. The profit attributable to the shareholders of the Company for
the period was $1,442,512 as compared to $716,402 for the same period of last
year.

 

Q3 of 2012 financial highlights includes:

 

Online products revenue of $1,979,384 generated
during the third quarter of 2012 as compared to $1,755,040 during the same period in 2011;

 

Text book sales revenue of $736,969 generated
during the third quarter of 2012 as compared to $1,407,171 during the same period in 2011.

 

"We are very pleased with our increasing net profit in the Q3 2012
results, and the operating performance of the company continues to be strong.”
said Chengfeng Zhou, CEO, China Education Resources. 



"We expect our digital textbook program and school platform to generate
more internet related revenue, and we are encouraged by increasing utilization
of our internet platform and educational social network, which work together
with our existing online/offline products.



This combination provides teachers and students with a unique and comprehensive
blend of education resources and services. Our goal is to strengthen our
position as the leading provider of digital educations services to China’s K-12
sector.” 

 

In collaboration with China's education administrators and experts,
China Education Resources has been helping to transform the curriculum of the
world's largest educational system. Recognizing the need to address education
reform changes, China Education Resources has created educational tools and
curriculum for China's entire kindergarten through twelfth grade system. The
Company is playing an integral part in transforming China's educational system
through helping to convert the existing educational system from a memory-based
learning system to a creative thinking and interactive approach. Presently,
China Education Resources has over 1 million kindergarten through twelfth grade
teachers registered through its Web portal. For more information, please visit
www.chinaeducationresources.com or call [phone].

 

Safe Harbor Statement

 

Certain statements made herein, and other statements relating to matters
that are not historical facts and statements of our beliefs, intentions and
expectations about developments, results and events which will or may occur in
the future, constitute "forward-looking information" within the
meaning of applicable securities legislation. Forward-looking information and
statements are typically identified by words such as "anticipate",
"could", "should", "expect", "seek",
"may", "intend", "likely", "plan",
"estimate", "will", "believe" and similar
expressions suggesting future outcomes or statements regarding an outlook. All
such forward-looking information and statements are based on certain
assumptions and analysis made by China Education Resources, Inc.'s management
in light of their experience and perception of historical trends, current
conditions and expected future developments, as well as other factors
management believes are appropriate in the circumstances. These statements,
however, are subject to a variety of risks and uncertainties and other factors
that could cause actual events or results to differ materially from those
projected in the forward-looking information or statements. Important factors
that could cause actual results to differ from these forward-looking statements
include those described under the heading "Risks and Uncertainties"
elsewhere in the Company's MD&A filed at www.SEDAR.com. The reader is cautioned not to
place undue reliance on forward-looking information or statements. Except as
required by law the Company does not assume the obligation to revise or update
these forward looking statements after the date of this document or to revise
them to reflect the occurrence of future, unanticipated events.

 

The TSX Venture Exchange has not reviewed, and does not accept,
responsibility for the adequacy or accuracy of the contents of this press
release.

Contact China Education Resources at: [phone]

Email: [e-mail].

Website: http://www.chinaeducationresources.com 

 

                                                    
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