To expand the education industry, KingSun 100 million to set up a wholly owned subsidiary

October 10th, KingSun (hereinafter referred to as the "company") announced that, according to the strategic layout in the field of education, the company's own funds to invest 100 million yuan to set up a wholly owned subsidiary of QINSHANG Education Investment Co. Ltd. (hereinafter referred to as "Qinshang education"). The main business scope of education investment, industrial investment, investment advisory services, etc.. Recently, on the ground of education completed business registration procedures, and obtain a business license issued by the Dongguan Municipal Administration for Industry and Commerce ".

For the purpose of education was established on the ground, KingSun said in the announcement, the company set up on the ground of education is mainly to promote the implementation of the target company's strategic development planning, to promote the company extended development, will help improve the company's profitability, accelerate the company in the field of Education business layout and development, will have a positive impact on the operation of the company the performance, in line with the company's development strategy and the interests of all shareholders.

KingSun also pointed out that the company will pay close attention to the ground on the education management situation, strengthen the investment decision-making and risk control, timely control risk; at the same time, the company will actively introduce investment and education, has rich experience in high-end talent, promote Qinshang education long-term healthy and stable development.

In addition, the announcement shows that the establishment of a wholly owned subsidiary of the investment funds for the company's own funds, will not adversely affect the company's financial and operating conditions. The set up is completed, KingSun education has become a wholly owned subsidiary of the company, the company's consolidated financial statements included.

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