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DHS, a Washington, DC based firm engaged in private equity for the production of advanced ready-mix concrete materials and education service, announced today that it has established a joint venture company, Tao (“JV”), a limited liability company specializing in the after-school tutoring program for students from kindergarten to the eighth grade in New York. The JV will leverage Hishun expertise in academic and art education for the youth in conjunction with TADEM’s business management skills and access to capital to create an innovative learning platform in New York.
Under the terms of the joint venture agreement for the JV, DHS shall be responsible for operating and managing the JV; TADEM shall contribute necessary capital to fund the JV’s operation and set up platforms to offer online courses. The net profits and net loss of the JV shall be distributed 80% and 20% to TADEM and DHS, respectively.
DHS’ recent acquisition of Sunway International Education marks a key step forward as the firm gradually transitions its business to be an educational technology service provider. Following the integration of the combined businesses, the JV will be able to leverage the know-how and experience of Sunway to strengthen its competitive proposition in the market. Sunway’s intelligent campus system is among the most advanced Software-as-a-Service (SaaS) platform for school management to enhance operational and financial efficiency. Its AI based growth tracking analysis system enables the school to personalize each student’s education plan based on interests, characteristics, and learning progress, which will be a valuable asset to DHS’ traditional education model. Meanwhile, DHS has easy access to American teachers and tutors which Sunway will be able to tap to further expand its online English education services in China. The combination of these two businesses with complementary technology and industry strengths will be more sustainable and generate valuable synergy for DHS.
“This is another milestone of our company to grow its presence in the education service space. We are delighted to partner with DHS to establish a joint venture to focus on providing the quality education support that students and parents are seeking. We are excited to re-position the firm to be a high-tech education service provider serving customers in both China and U.S.,” said Fernando Aguirre, Vice Chairman of DHS.
John Taylor, President of Hishun commented, “Hishun is proud to join forces with DHS and partner with the firm. Amid rising after-school educational program demands in Asian American communities in New York, high-quality after-school programs that can help students achieve academic success and improve socialization skills are highly sought after. With DHS’ teaching expertise and students resources, coupled with TADEM’s capital capability and technology support, we are confident that the JV will accelerate the development of after-school programs and expand our market into more communities.”
About Hishun
The Company is a holding company whose primary business operations are conducted through its wholly-owned company. The Company engages in the production of advanced construction materials for large scale infrastructure, commercial and residential developments, primarily focused on engineering, producing, servicing, delivering and pumping a comprehensive range of advanced ready-mix concrete materials for highly technical, large scale, and environmentally-friendly construction projects. Through its newly acquired subsidiaries, the Company also engages in the early childhood education service business, providing a well-structured system to day cares and preschools in China, including AI and robotic technologies, intellectual campus administration software as a service system (SAAS) and personalized online education courses.
Forward-Looking Statements
Certain statements made herein are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements include timing of the proposed transaction; the business plans, objectives, expectations and intentions of the parties once the transaction is complete, and HHT’s estimated and future results of operations, business strategies, competitive position, industry environment and potential growth opportunities. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, our actual results may differ materially from our expectations or projections. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: there is uncertainty about the spread of the COVID-19 virus and the impact it will have on HHT’s operations, the demand for the HHT’s products and services, global supply chains and economic activity in general.
