Attached files
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| 8-K - HARTCOURT 8-K - HARTCOURT COMPANIES INC | hartcourt_8k.htm |
Exhibit
99.1
Press
release dated on January 12, 2010
Hartcourt
Companies, Inc. Continues Optimistic on Chinese Vocational Education
Market
SHANGHAI,
Jan. 12 /PRNewswire-Asia-FirstCall/ -- The Hartcourt Companies, Inc. (OTC
Bulletin Board: HRCT; Frankfurt 900009) ("Hartcourt" or "the Company"), a
growing provider of vocational education and technical training services in the
People's Republic of China ("PRC"), today announced that it remains optimistic
on China's vocational education market.
China's
education and training market is an emerging industry. In particular, China's
vocational education market has great potential. China's education market is
growing rapidly due to sustained development and the increased importance placed
on higher and professional education. With greater amounts of disposable income,
Chinese families are spending an ever-higher percentage of their disposable
income on education. Chinese families' focused attention to education definitely
provides a good opportunity for China's vocational education industry as people
continue to seek advanced skills and professional licenses and
certifications.
In
addition, China has been pumping out more college graduates every year. In 2007,
the number of China's college graduates jumped to 4.79 million from 2.50 million
in 2004, which tremendously increases employment pressure; meanwhile, quite a
few companies are still short of qualified talents. Such an imbalance between
supply and demand generates a huge demand for a post-college education. A
continuous rise in the number of people pursuing bachelor and master degrees and
a sustained expansion of college enrollment offer an enormous market for
education and training. (Resource: ResearchInChina)
As
an education resources provider and operator, Hartcourt has provided its
educational services through three channels: a large educational online portal,
educational software and media, and education and vocational training centres.
The company's management strongly believes the great potentials in the
vocational education market and wants to take this opportunity to develop the
business.
About
KingWeet International Ltd. After Market Support (KingWeet AMS)
KingWeet
AMS is a financial marketing firm specializing in creating liquidity for
publicly traded stocks and a wholly owned subsidiary of Keating International
Ltd. KingWeet AMS is uniquely positioned to provide an outsourced, high-level
investor relations solution that combines in-depth understanding of China's
corporate culture and economic scene with a direct pipeline into the leading
funds and broker-dealers in the United States. KingWeet AMS is a global,
full-service investor relations agency with corporate headquarters in Hong Kong,
and offices in New York, Hong Kong and Shanghai. For more information, contact
KingWeet AMS.
About
Hartcourt Companies, Inc.
Founded
in 1983, Hartcourt is a U.S. corporation with subsidiaries in China and other
jurisdictions. Hartcourt moved its headquarters to Shanghai, China in 2002. In
August 2006, Hartcourt changed its business model to focus on the education
market in China. From May 2007 to October 2008, Hartcourt completed the
acquisition of China Princely Education Technology Development Company Limited,
an authorized accrediting organization for China vocational education located in
Beijing, PRC sixty percent of the outstanding equity of Beijing Yanyuan Rapido
Education Company, a well-known training institution in China and sixty percent
of the outstanding equity of China E & I Development Co. Ltd., which does
business as the China Arts and Science Academy.
Forward-looking
Statements
The
information contained herein includes forward-looking statements. These
statements relate to future events or to our future anticipated financial
performance, and involve known and unknown risks, uncertainties and other
factors that may cause our actual results, levels of activity, performance, or
achievements to be materially different from any future results, levels of
activity, performance or achievements expressed or implied by these
forward-looking statements. You should not place undue reliance on
forward-looking statements since they involve known and unknown risks,
uncertainties and other factors which are, in some cases, beyond our control and
which could, and likely will, materially affect actual results, levels of
activity, performance or achievements. Any forward-looking statement reflects
our current views with respect to future events and is subject to these and
other risks, uncertainties and assumptions relating to our operations, results
of operations, growth strategy and liquidity. We do not intend to publicly
update or revise these forward-looking statements for any reason, or to update
the reasons actual results could differ materially from those anticipated in
these forward-looking statements, even if new information becomes available in
the future. The safe harbor for forward-looking statements contained
in the Securities Litigation Reform Act of 1995 protects companies from
liability for their forward-looking statements if they comply with the
requirements of the Act. In addition, please refer to the Risk Factor section of
our 2008 Form
10-K
filed with the Securities and Exchange Commission on May 13,
2009.
For
more information, please contact:
Hartcourt
Companies, Inc.
Ms.
Amanda Zhang, Vice President
Phone:
+86-21-5208-0268
Email:
ir@hartcourt.com
KingWeet
International Ltd. | AMS
Ms.
Chris Chang, President
Phone:
+1-800-852-0954
Email:
chris@kingweet.com
SOURCE Hartcourt
Companies, Inc.