Why Elite Education Group (EEIQ) is soaring today

During the pandemic, EdTech companies like Elite Education Group (EEIQ) are moving higher into the future.  The one-stop education solutions company for Chinese university students interested in study abroad programs in the US and other countries, today announced an operations update.

Following the Covid-19 outbreak that occurred in China in late 2019, the Delta variant, a newer strain of Covid-19 has been spreading across the US and now accounts for more than 99% of Covid-19 cases. Although the symptoms of the Delta variant are the same as the original, the Delta variant is much more contagious than the original version of Covid-19. The Covid-19 pandemic has resulted in extensive travel restrictions as well as a global economic downturn, and disrupted the normal operations of many businesses, including ours, and the normal operations of Miami University of Ohio, which is the principal university with whom they work to place the students.

With the FDA approval of the Pfizer vaccine, MU announced that it will require all students and staff to be vaccinated unless exempted. Further, face coverings at MU are required indoors at all times regardless of vaccination status. MU returned to in-person classes and operations in the Fall semester of 2021. The company undertook a comprehensive number of protocols for students to ensure our students’ safety.

Even in such a challenging year of student recruitment due to the significant impact of Covid-19, this was our highest conversion rate since 2015 due to our diligent marketing efforts. These strong results are also attributable to our ongoing efforts to offer remote learning through online courses during the pandemic as well as the further development of our foundational programs to deepen our applicant pool. As reported by Fortune.com on August 16, 2021, the number of applications from Chinese students dropped 18% this year for various reasons. While top US universities had not lost Chinese applicants, others struggled with recruiting them. Under such circumstances, they believe that our recruitment metrics are highly competitive with individual universities and to other entities engaged in this space.

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