Qinshang intends to acquire 870 million stake of more than 80% Red Education

KingSun announcement yesterday evening, in order to improve the Dongguan KingSun Au Optronics Co (hereinafter referred to as "the company") in the strategic layout of the education industry, education to further promote the company's industrial transformation and upgrading, the company in November 8, 2016 with Mr. He Zhijian, Mr. Liu Dongming signed the "transfer of assets of the framework agreement" (hereinafter referred to as the "framework agreement").

According to the framework agreement, the company intends to acquire He Zhijian and Mr. Liu Dongming held by the Liuzhou city Cci Capital Ltd (hereinafter referred to as "LRRH education LRRH education") and the actual control of equity or equity all kindergartens (including but not limited to about 75 of direct investment, kindergarten management and operation rights, about 33 hosting and joining the kindergarten management and operation rights, kindergarten owned or leased assets, the transaction ultimately determined. No less than 80% of the proportion of the final transaction will be completed after the company due diligence or audit, the parties to negotiate the transaction to determine.

The initial valuation of the assets of about 870 million yuan (the final valuation will be completed after the company due diligence or audit, the parties to discuss the transaction to determine).

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