Top Education (01752.HK) Major Shareholder Guoli Minsheng Sells 16.17% Stake at HK$0.125/Share

Top Education Group Ltd. (1752.HK) announced on June 23, 2026, that the Company's Board was informed by Fujian Guoli Minsheng Technology Development Co., Ltd. ("Guoli Minsheng"), a substantial shareholder of the Company, that on June 23, 2026, it sold 351,180,000 shares of the Company to a buyer through an independent broker by way of block trade transfer, representing approximately 16.17% of the total issued shares as of the date of this announcement, at a consideration of HK$0.125 per share. The proceeds will be used for other potential investment projects of Guoli Minsheng. The Board was also informed by Guoli Minsheng that, to the best of its knowledge, the buyer is an independent third party of the Company.

Immediately following completion of the disposal, Guoli Minsheng ceased to be a substantial shareholder of the Company.

Mr. Dai Yi, a non-executive director of the Company, is the managing director of Guoli Minsheng. Guoli Minsheng and Mr. Dai have each confirmed to the Board that they did not possess or were aware of any inside information concerning the Company in relation to the share transactions in the disposal.

The Board is of the view that the disposal will not have any material adverse effect on the business operations and financial position of the Group.

The Board also noted that the trading price of the shares on the Stock Exchange today has moved unusually. After making all reasonable enquiries in relation to the Company, the Board confirms that, apart from the above disclosure, it is not aware of any reason for such price movements or any inside information which must be disclosed under Rule 13.09(2) of the Listing Rules and Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.