China Liberal Education Holdings Limited (Nasdaq: CLEU) (“China Liberal”, or the “Company”, or “we”), an educational services provider in China, today announced that the Company had started higher volume production and expanded domestic sales channels of AI-Space (“AI-Space”), an all-in-one machine designed to provide highly integrated visualization solutions for various scenarios with strict reliability requirements.
The Company has signed four regional sales cooperation agreements (the “Agreements”) with four companies (the “Regional Sales Agents”) covering the markets of five provincial-level regions in China, which are Sichuan, Shandong, Inner Mongolia, Shanxi and Fujian.
Pursuant to the Agreements, the Company authorized Shanxi Guangyun Jiuzhou Technology Co., Ltd, Chongqing Xueding Commerce and Trade Co., Ltd, Beijing Yunban Technology Co., Ltd and Xiamen Deyu Tiancheng Technology Co., Ltd. as sales agents to sell AI-Space to universities in the regions they cover, effective for one year from January 1 to December 31, 2021. The Regional Sales Agents agreed to take charge of the marketing and sales of AI-Space, maintain the brand image of China Liberal, and collect the sales and market feedback timely.
The Company also signed two project framework agreements (the “Framework Agreements”) with two Chinese host universities, namely Fuzhou Melbourne Polytechnic (“FMP”) and Straits Institute of Minjiang University (“Minjiang University”) on December 10, 2020.
Pursuant to the Framework Agreements, the Company agreed to deliver AI-Space to FMP and Minjiang University by the agreed delivery dates, assist in product debugging and provide after-sales services. FMP and Minjiang University can purchase AI-Space from the Company at a fixed price for 2 years.
AI-Space can be applied to various scenarios including command center, lecture hall, conference room, multi-functional exhibition hall, smart classroom, vehicle emergency, portable command, telemedicine, science and technology court, and smart home. The Company began to develop AI-Space in September 2019, following a thorough market research and demand analysis. AI-Space 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 MCU. It adopts a hot-swappable design, which is easy to operate, has powerful application functions and can be applied to a wide range of applicable scenarios, offering users integrated solutions.
Ms. Ngai Ngai Lam, Chairwoman and CEO of China Liberal, commented, “We are excited to have entered into the Agreements with the Regional Sales Agents after careful selection, and have entered into the framework agreements with FMP and Minjiang University. These agreements prove our product AI-Space is widely popular and well recognized by the market. Looking ahead, we will select more qualified university sales agents to expand our product’s market layout across China at the earliest time possible to become partners with smart conferences providers, smart homes vendors, and high-end clubs in the future.”
