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Admission to the Premier Program at Peking University Increased More Than 300% and is Expected to be 8x Last Year's Enrollment by September 2024
MIDDLETOWN, Ohio, April 16, 2024 /PRNewswire/ -- EpicQuest Education Group International Limited (NASDAQ: EEIQ), ("EpicQuest Education", "EEIQ" or the "Company"), a provider of higher education for domestic and international students in the US, Canada and the UK, today announced bolstered metrics related to its foundational programs for EpicQuest Education's Davis University ("Davis") and EduGlobal College ("EduGlobal") programs. As a course of study for students to acquire the skills needed for their programs, foundational programs can also increase international enrollment at both Davis and EduGlobal.
Jianbo Zhang, Chief Executive Officer of EpicQuest Education, commented, "We are pleased to have developed foundational programs that are essential for many international students to ensure the success of their academic journeys. Our foundational program at Peking University, China's preeminent institution of higher learning, is consistent with our standard of excellence and globalized learning experience at our two schools in the US and Canada."
"Our foundational programs align with our mission of internationalization, which is a vital element to our strategic growth plan. We plan to develop foundational programs in several regions of the world where we engage in active recruitment. They also represent an additional revenue stream for the Company while also helping to direct students into Davis and EduGlobal," said Chief Financial Officer Zhenyu Wu.
The Company's premier foundational program is based at Peking University, and for the Fall 2024 foundational program intake, the Company currently has more than 50 students registered with its target to have at least 100 students registered by September 2024. This compares with only 12 students that were enrolled in the Company's foundational program in September 2023, though recruiting for this new Company program only began in August 2023. This represents an increase of more than 300% midway through the recruiting season with an expected eight-fold increase by September 2024 as compared to the same period last year.
The Company has been operating another foundational program in Beijing for the past two years, and it plans to launch two foundational programs with top universities in Shanghai starting in August 2024. The Company believes that the new programs will significantly increase the number of students enrolled into Davis and EduGlobal. The tuition cost for the Company's foundational programs increased 30% as compared to the year-ago period, and the two-year foundational programs can potentially add $5 million annually to the Company's revenue while also spurring foundational program students to complete their academic studies at Davis and EduGlobal.
Posted In: EEIQ
