AOK Press Release - HSF Comments (11.10.13)
ASX/Media Release
28 October 2014
Capital Mining Limited
ASX: CMY, CMYO
Level 11, 216 St Georges Terrace
Perth WA 6000
Telephone +61 8 9481 0389
Fax +61 8 9463 6103
www.capitalmining.com.au
Directors
Dr James Ellingford
(Non-Executive Chairman)
Mr Robert McCauley
(Executive Director/CEO)
Mr Peter Torney
(Non-Executive Director)
Company Secretary
Mrs Elizabeth Hunt
+61 8 9481 0389
Corporate Structure
Shares on issue
(at 6 October 2014):
790,654,618
HexStudy ta rget s China ' s growing IT industry with addition of 16 new books to e-learning platform
Highlights:
16 additional textbooks covering Computer Science and IT added to
HexStudy's cloud-based e-learning platform
Curricula developed in part by one of China's most respected universities - Tsinghua University
IT industry in China now third largest in the world with circa
US$124 billion of investment¹
HexStudy well placed to leverage off growing investment in China's
Computer Science and IT sectors
Capital Mining Limited (ASX:CMY) ('Capital' or the 'Company') advises that HexStudy continues to broaden the content of its cloud based e-learning platform with the transfer of 16 additional textbooks covering the Computing and IT curricula. The subjects are outlined below.
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HexStudy anticipates that computing and IT will be very high-growth sectors of the education market as more people seek IT qualifications. Investment in China's IT sector has now reached circa US$124 billion per annum, the third largest industry in the world after Japan and the United States¹.
HexStudy also anticipates that the growing use of smartphones in China, where there are now over 500 million users², will also continue to drive development of the IT industry and hence demand for this latest curriculum added to its portfolio.
Background
As reported to shareholders on 7 October 2014, Capital has signed a Memorandum of Understanding whereby it may progressively acquire up to 35% of HexStudy (through its parent company Beijing Xingang Zhiyuan Technology Co. Ltd - XGZY), to gain exposure to the growing online education market in China.
XGYZ was established in 2012 and is headquartered at the highly regarded Tsinghua University near Beijing. The company employs 50 specialists with broad knowledge of the technology, education and publishing sectors. XGYZ CEO, Lu Feng, has previously been retained as a Senior Consultant by Microsoft and Texas Instruments, while Chief Editor and CMO, Zheng Qi, is a former Senior Sales and Marketing Manager at Pearson Education.
The HexStudy platform, which is wholly owned by XGZY, utilises advanced cloud and digital technology, along with the latest teaching techniques, to provide an individualised, interactive, comprehensive and collaborative teaching and learning experience.
Objectives
The addition of these 16 textbooks covering the Computer Science and IT fields (listed above) to the HexStudy platform represents a significant enhancement and growth driver for the company, as the subjects on offer now cover six fields of academic endeavour which are all sought after by Chinese students.
Approximately 50 additional textbooks covering a range of subjects will be added to the HexStudy platform over the next six months, further enhancing the offering and appeal of the HexStudy platform to a greater number of existing and potential new users.
Capital's Chairman, Dr James Ellingford, stated: "The addition of these textbooks to the HexStudy Platform is a significant milestone, as a greater number of students in China seek qualifications in the growing IT industry here, which has recently become the third largest in the world.
"The addition of the IT curriculum to the e-learning Platform, along with its existing offerings, positions HexStudy in the huge and growing online learning market in China, which is expected to have 1.2 billion users by 2017³.
"Capital is pleased to have the opportunity to gain exposure to this market through its potential 35% acquisition
of HexStudy's parent company, and we look forward to this partnership."
Hexstudy users now have the ability to interactively access 54 textbooks covering six fields of study.
-ENDS-
For further information please contact:
Mrs Elizabeth Hunt
Company Secretary
+61 8 9481 0389
Released through Ben Jarvis, Six Degrees Investor Relations: +61 413 150 448
Important Notice
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Some of the statements appearing in this announcement may be in the nature of forward looking statements. You should be aware that such statements are only predictions and are subject to inherent risks and uncertainties. Those risks and uncertainties include f actors and risks specific to the industries in which Capital operates and proposes to operate as well as general economic conditions, prevailing exchange rates and interest rates and conditions in the financial markets, among other things. Actual events or results may differ materially from the events or results expressed or implied in any forward looking statement. No forward looking statement is a guarantee or representation as to future perform ance or any other future matters, which will be influenced by a number of factors and subject to various uncertainties and contingencies, many of which will be outside Capital's control.
Capital does not undertake any obligation to update publicly or release any revisions to these forward looking statements to reflect events or circumstances after today's date or to reflect the occurrence of unanticipated events. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions or conclusions contained in this announcement. To the maximum extent permitted by law, none of Capital, its Directors, employees, advisors or agents, nor any other person, accepts any liabi lity for any loss arising from the use of the information contained in this announcement. You are cautioned not to place undue reliance on any forward looking statement. The forward looking statements in this announcement reflect views held only as at the date of this announcement.
This announcement is not an offer, invitation or recommendation to subscribe for, or purchase securities in Capital. Nor does this announcement constitute investment or financial product advice (nor tax, accounting or legal advice) and is not intended to be used for th e basis of making an investment decision. Investors should obtain their own advice before making any investment decision. By reviewing or retaining this announcement, you acknowledge and represent that you have read, understood and accepted the terms of this important notice.
1. Source - http://www.zdnet.com/cn/china-it-spend-to-hit-124b-in-2014-7000024800
2. Source - - http://blogs.wsj.com/digits/2014/08/07/chinese-tech-giants-drive-boom-in-mobile-games/
3. Source - http://www.iresearchchina.com/views/5556.html