BEIJING, Sept. 27, 2017 /PRNewswire/ -- Tarena International, Inc. (NASDAQ: TEDU) ("Tarena" or the "Company"), a leading provider of professional education services in China, today announced that it has signed a strategic partnership agreement with Ping An Property & Casualty Insurance Company of China, Ltd., Beijing Branch ("Ping An") to provide Ping An Safe Employment Education Insurance to Tarena's students.
Pursuant to the partnership agreement, Tarena will cooperate with Ping An to offer to Tarena's eligible students nationwide Ping An Safe Employment Education Insurance. The insurance premium is RMB280 per student. According to the insurance provisions, during the 12-months insurance period, in the event an insured student (i) has finished a full-time course with Tarena, (ii) reached certain qualifying score on the exit exam, (iii) has not been able to find a job within approximately three months after graduation, and (iv) has re-enrolled in such course for at least 50 consecutive days, such student can file an insurance claim with Ping An for up to RMB 12,000 in compensation to cover the tuition costs related to the re-enrollment in such course.
"Ping An Safe Employment Education Insurance is an innovative solution to lower the financial risks for our students," said Shaoyun Han, Founder, CEO and Chairman of Tarena." Through our strategic partnership with Ping An, we seek to enable our students to receive professional training with lower risk and find their ideal jobs in a more secured way. Looking ahead, Tarena will continue to explore effective teaching models, introduce creative education methods and promote job placement services to help Chinese youngsters achieve better employment prospects and career development."
"Ping An is very pleased to cooperate with Tarena, a leading brand in China with best in class professional education services," said Jiangtao Wang, Deputy General Manager at Ping An Property & Casualty Insurance Company of China, Ltd., Beijing Branch. "During the past 15 years, Tarena has helped more than 438,000 students achieve their career dream. Based on its innovative dual teacher model and outstanding career services, Tarena students' six months post-graduation job placement rate is above 90%. We are confident in Tarena's teaching quality and students' strong competitiveness in the job market."
About Tarena International, Inc.
Tarena International, Inc. (NASDAQ: TEDU) is a leading provider of professional education services in China. Through its innovative education platform combining live distance instruction, classroom-based tutoring and online learning modules, Tarena offers professional education courses in twelve IT subjects and three non-IT subjects. Tarena also offers three kid education programs. Its professional education courses provide students with practical skills to prepare them for jobs in industries with significant growth potential and strong hiring demand. Since its inception in 2002, Tarena has trained over 438,000 students, cooperated with more than 690 universities and colleges and placed students with approximately 113,000 corporate employers in a variety of industries. For further information, please visit http://ir.tedu.cn.
About Ping An
Ping An Insurance (Group) Company of China, Ltd. ("the Group") was established in Shekou, Shenzhen, in 1988. The Group was the first insurance company in China to adopt a shareholding structure. It has developed into a personal financial services group with three core businesses - insurance, banking and investment - enjoying parallel growth of its core finance and internet finance businesses. The subsidiaries of Ping An include Ping An Life, Ping An Property & Casualty, Ping An Annuity, Ping An Health, Ping An Bank, Ping An Trust, Ping An Securities, and Ping An-UOB Fund. The Group's shares are listed on the Stock Exchange of Hong Kong (stock code: 2318) and the Shanghai Stock Exchange (stock code: 601318).
Safe Harbor Statement
This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Tarena may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including any business outlook and statements about Tarena's beliefs and expectations, are forward-looking statements. Many factors, risks and uncertainties could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: Tarena's goals and strategies; its future business development, financial condition and results of operations; its ability to continue to attract students to enroll in its courses; its ability to continue to recruit, train and retain qualified instructors and teaching assistants; its ability to continually tailor its curriculum to market demand and enhance its courses to adequately and promptly respond to developments in the professional job market; its ability to maintain or enhance its brand recognition, its ability to maintain high job placement rate for its students, and its ability to maintain cooperative relationships with financing service providers for student loans. Further information regarding these and other risks, uncertainties or factors is included in Tarena's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and Tarena does not undertake any obligation to update such information, except as required under applicable law.
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