China New Higher Education Group Announces Major Disposal of Equity Interest in Guangxi Schools
Key Points of the Announcement
- Major Transaction: China New Higher Education Group Limited (“the Company”, HKEX: 2001) has completed a major transaction involving the disposal of its entire equity interest in a subsidiary that owns Guangxi Schools for a total consideration of RMB359.5 million.
- Transaction Details: The Sale and Purchase Agreement was signed on 29 May 2026 between the Vendor (a consolidated affiliated entity of the Company), the Purchaser (Guangxi Yinghua Haian Education Investment Co., Ltd.), and the Target Company (Songming Xinju Enterprise Management Company Limited).
- Financial Impact: The Group expects to record a gain of approximately RMB15.1 million from the Disposal. The consideration exceeds the unaudited net asset value of the disposal company’s equity interest as of the disposal date (RMB344.0 million).
- Loss of Subsidiary Status: Upon completion, the Target Company ceased to be a subsidiary of the Company. The financial results of the two Guangxi Schools will no longer be consolidated into the Group’s financial statements.
- Use of Proceeds: Net proceeds, estimated at approximately RMB359.1 million after transaction costs, will be used to strengthen the Group’s working capital position.
- Shareholder Approval: The transaction constituted a “major transaction” under Chapter 14 of the Hong Kong Listing Rules. Written shareholders’ approval was obtained from holders representing approximately 50.01% of issued shares, so no general meeting was required.
- Valuation: The appraised value of the Target Group as of 30 April 2026 was approximately RMB354 million, close to the agreed consideration.
- Rationale: The disposal aligns with policy directives and allows the Group to focus on high-quality development in its existing educational institutions, enhancing long-term competitiveness and educational quality.
Details Investors Should Know
About the Target Group
- Target Company: Songming Xinju Enterprise Management Company Limited, established in the PRC in October 2016, was wholly owned by the Vendor.
- Guangxi School Sponsor: Qinzhou Yinghua Datang Education Investment Co., Ltd., sole shareholder of the two Guangxi schools:
- Guangxi Yinghua International Occupation College (est. 2006, registered capital RMB33 million)
- Guangxi Yinghua International Occupation Middle School (est. 2006, registered capital RMB5 million)
- Financials (Unaudited):
- 2024 Revenue: RMB160.7 million; 2025 Revenue: RMB162.6 million
- 2024 Profit after tax: RMB2.98 million; 2025 Loss after tax: RMB2.19 million
- Net asset value as at 31 August 2025: RMB317.6 million
Transaction Terms
- Payment: Purchaser paid the full consideration into a jointly controlled bank account before 31 May 2026. Upon registration of the Purchaser as shareholder, funds were released to the Vendor.
- Delay Penalty: If there were delays in registration, the Purchaser would compensate the Vendor at 0.06% of the consideration per day, with additional penalties for delays exceeding 10 days.
- Completion: All registration formalities and payment were completed on 29 May 2026.
- Termination of Structured Contracts: All structured contracts that enabled consolidation of the Guangxi Schools’ results into the Group were terminated upon completion.
Implications for Shareholders and Share Price Sensitivity
- Major Strategic Shift: The sale marks a significant strategic realignment for the Group as it exits ownership and operational control over the Guangxi Schools. Investors should monitor the impact on future revenues and net income, as these assets will no longer contribute to consolidated results.
- Strengthened Financial Position: The substantial cash inflow boosts working capital and financial flexibility, possibly enabling new investments, debt reduction, or enhanced shareholder returns.
- Valuation Alignment: The sale price is marginally above the appraised value, suggesting a well-negotiated transaction and minimal risk of value erosion.
- No Dilution or Voting Impact: The transaction does not dilute shareholders, and approval procedures were streamlined since no shareholder had a material interest requiring abstention.
- Potential Impact on Share Price: The divestment could be viewed positively for its immediate financial benefit and strategic focus, but investors should weigh the loss of recurring income from the disposed schools.
Company Statement
The Board believes the disposal is in the best interests of the Company and shareholders. The transaction’s terms are fair and reasonable, reflecting normal commercial terms.
Next Steps
A circular providing further details will be dispatched to shareholders on or before 22 June 2026.
Board of Directors
- Executive Directors: Mr. Li Xiaoxuan, Mr. Zhao Shuai, Mr. Chan Tung Hoi
- Independent Non-Executive Directors: Mr. Kwong Wai Sun Wilson, Dr. Pang Tsz Kit Peter, Ms. Wong Ka Ki Ada
Disclaimer: The above summary is prepared for information purposes only, based on the public announcement issued by China New Higher Education Group Limited. Investors should refer to the full announcement and consult their financial advisers before making investment decisions. The actual financial effects may differ upon audit. This article does not constitute investment advice.
中國新高教集團重大出售廣西學校股權詳情公告
公告重點
- 重大交易：中國新高教集團有限公司（「公司」，港交所：2001）已完成一項重大資產處置，出售其附屬公司持有的廣西學校全部股權，交易總額為人民幣3.595億元。
- 交易詳情：於2026年5月29日，賣方（公司控股附屬公司）、買方（廣西英華海岸教育投資有限公司）及目標公司（嵩明新聚企業管理有限公司）簽訂股權轉讓協議。
- 財務影響：集團預計此次出售將錄得約人民幣1510萬元收益。對比目標公司於交割日的未經審核資產淨值（人民幣3.44億元），交易對價有所溢價。
- 附屬公司地位終止：交易完成後，目標公司不再屬於本集團附屬公司，廣西兩所學校的財務數據將不再合併入集團報表。
- 資金用途：扣除交易成本後，預計淨收益約為人民幣3.591億元，將用作集團日常營運資金以增強財務實力。
- 股東批准：本次交易屬《上市規則》第十四章的「重大交易」，已取得合共持有約50.01%股份大股東的書面批准，毋須召開股東大會。
- 資產評值：截至2026年4月30日，目標集團評估價值約為人民幣3.54億元，與交易對價相近。
- 出售原因：配合政策導向，優化資源配置，專注現有院校高質量發展，提升核心競爭力及辦學質素。
投資者須知詳情
關於目標集團
- 目標公司：嵩明新聚企業管理有限公司，2016年10月於中國成立，原為賣方全資擁有。
- 廣西學校主辦方：欽州英華大唐教育投資有限公司，為兩所廣西學校的唯一股東：
- 廣西英華國際職業學院（2006年成立，註冊資本人民幣3300萬元）
- 廣西英華國際職業中學（2006年成立，註冊資本人民幣500萬元）
- 財務數據（未經審核）：
- 2024年收入：人民幣1.607億元；2025年收入：人民幣1.626億元
- 2024年稅後利潤：人民幣298萬元；2025年稅後虧損：人民幣219萬元
- 截至2025年8月31日資產淨值：人民幣3.176億元
交易條款
- 付款安排：買方於2026年5月31日前將全額對價存入雙方共同控制帳戶，完成股東變更登記後款項轉賬予賣方。
- 延遲罰款：如登記延遲，買方須每日按對價0.06%向賣方賠償，超過10天將有額外賠償。
- 交易完成：登記及付款流程於2026年5月29日全部完成。
- 結構性協議終止：交易完成後，所有允許集團合併廣西學校財務報表的結構性協議終止。
對股東及股價的影響
- 重大策略調整：出售標誌著集團戰略轉型，退出廣西學校經營與控制，未來相關收入及利潤將不再計入集團合併報表，投資者需注意對業績的影響。
- 財政實力增強：大筆現金流入將提升集團流動資金，為未來發展、還債或回饋股東提供更多彈性。
- 估值合理：交易價格略高於評估價，反映談判結果正面，減低價值流失風險。
- 無攤薄或表決影響：交易不涉及增發股份，亦無股東需回避表決。
- 潛在股價影響：短期內出售資產或利好資金狀況，但長遠需關注失去相關學校盈利貢獻後的集團業績表現。
公司聲明
董事會認為出售事項公平合理，符合公司及全體股東利益。
後續安排
詳細通函將於2026年6月22日或之前寄發予全體股東。
董事會成員
- 執行董事：李曉軒先生、趙帥先生、陳東海先生
- 獨立非執行董事：鄺偉燊先生、彭子傑博士、黃嘉琪女士
免責聲明：以上內容僅根據中國新高教集團有限公司公開公告編寫，僅供參考。投資者應參閱完整公告內容及諮詢專業意見，本文不構成任何投資建議，最終財務影響以審計結果為準。
