KingSun shares: 140 million proposed code education, LED lighting project Extension Center

Yesterday (21) evening, KingSun shares announcement, the actual control of the company a subsidiary of Shenzhen englun Education Industry Co. Ltd. (hereinafter referred to as the "English education") in November 21, 2017 and Lhasa Shenzhen pre education management partnership (hereinafter referred to as the "Lhasa country") signed the "equity acquisition framework agreement".

According to the announcement, Wharton style through the Shenzhen Nanshan Chen Xinhua Table Tennis Club Co. Ltd. (hereinafter referred to as the "Nanshan Chen Xinhua table tennis club"), in Shenzhen, Nanshan District Dalton Xinhua school (hereinafter referred to as the "Xinhua College") of actual control. The British education intends to pay cash held by the transferee Lhasa Shenzhen Wharton style 51% stake, so the actual control of the Xinhua college. The transaction price is not more than RMB 140250000 yuan, the specific transaction price assessment agencies to share the specified ground issued by the assessment of the price shall prevail. After the completion of the transaction, the British education will have Shenzhen International College (International School), Shenzhen Dalton (Xinhua School International School) two international schools.

KingSun shares said that this transaction will further promote the company in the field of private education in the business layout and development, improve the comprehensive competitiveness of the company, a solid foundation for the company to integrate and expand in the field of education lay a stable power company in the field of education development.

At the same time, KingSun shares announcement that the company will raise funds for investment projects in the "LED lighting R & D center project reach its intended use date postponed to November 30, 2018, the specific content of the project. The project has been put into actual total funds raised 65 million 61 thousand yuan, accounting for the total cash proceeds after adjustment promised to invest 84.93%.

Qinshang said, because the company will focus on the future in the field of education, intends to divest the semiconductor lighting business, so slowing down of the LED lighting R & D center project investment progress. In October 26, 2017 the company disclosed the "major asset sale and related transaction plan", "the November 15, 2017 disclosure of major asset sale and related transaction plan" (Revised), a follow-up to the company's semiconductor lighting business such as stripping success, "LED lighting R & D center project" will be transferred to the counterparty.

In addition, the company chairman Chen Yonghong will no longer serve as the general manager of the company, the appointment of Wu Jian as general manager of the company. Data shows, Wu Jian has served for many years in the overseas education of senior management experience, familiar with the domestic and overseas (especially American) middle school and university education system.

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