Spend 800 million yuan! KingSun shares will be carried out in the end of business education

Yesterday (24) evening, KingSun shares announcement, the company announced on May 15, 2017 that Ningbo intends to subscribe for the bonded port area of Meishan Rong Xiang equity investment center (limited partnership) not more than 800 million yuan, for the NITEDUCATION GROUP LIMITED fund mergers and acquisitions (Eddie education group). As of the date of the announcement, the company has completed 800 million yuan investment.

According to the announcement, in order to promote the acquisition, company and Shenzhen City Thai Huasheng Asset Management Limited (hereinafter referred to as the "Thai Huasheng"), according to the "People's Republic of China contract law" and other laws and regulations, in good faith, the principle of mutual benefit, through friendly consultations on an equal and voluntary basis, for the acquisition of Eddie project cooperation, signed a "cooperation agreement", this matter does not constitute a connected transaction, does not constitute a major asset reorganization.

Statistics show that the Thai Huasheng was founded in 2013, the business scope includes fiduciary asset management, economic information consulting, management consulting, investment consulting, financial consulting (excluding the above talent agency, securities, futures, insurance, financial services and other restrictions on the project); equity investment; equity funds under management.

It is understood that the company and related entities established in Ningbo bonded zone of Meishan Rong Xiang equity investment center (limited partnership) (hereinafter referred to as the "buyout fund") and the proposed acquisition of Shanghai QINSHANG Energy-saving Lighting Co. Ltd. (hereinafter referred to as the "Shanghai KingSun") 100% stake. Shanghai Qinshang acquisition fund mergers and acquisitions, the acquisition of NIT EDUCATION by Shanghai Qinshang GROUP LIMITED (Eddie Education Group) in the operation of the main 100% stake (referred to as "Eddie mergers and acquisitions fund project").

Qinshang said shares before the company expects future education industry will usher in rapid development period, the 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, help the company continued stable and rapid development.

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