Announcement on October 24, 2016, in order to speed up the company's industrial strategic layout in the field of private education and increase the market share in the education sector, the company signed the "England Education, Natural People Fu Teng, Fu Jun, Fu Fu" on October 21, 2016. Agreement on Capital Increase and Acquisition of Shenzhen Yinglun Education Industry Co., Ltd.
1. The company has subscribed for RMB 2.629 million in registered capital of British Education for RMB 66 million, of which: RMB 2,214,900 is included in the registered capital and paid-in capital, and the remaining RMB 63,857,100 is included in the capital reserve. After the capital increase is completed, the company Will hold a 30% stake in British Education.
2. The company acquired the 5% equity of the British education held by Ying Tengyi, the British education shareholder, for RMB 11 million. The company acquired the 5% equity of the British education held by the British education shareholder Fu Jun for RMB 11 million. . After the capital increase and the completion of the acquisition, the company holds a 40% stake in British Education and indirectly holds a 40% stake in the Shenzhen International Academy of Sciences (hereinafter referred to as “Pre-Schoolâ€), which is 100% owned by British Education.
Benefiting from the low age of international education, the growth of per capita disposable income, and the improvement of consumption levels, the public's willingness to invest in education has increased, and the prospects for China's international education industry are promising. Through the capital increase and the acquisition of equity, the company will further accelerate the business layout and expansion in the private education field, improve the company's comprehensive competitiveness, and lay a solid foundation for the company's integration and expansion in the education field, and enhance the overall profitability of the company. Better return to investors.
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