LEADER EDU (01449.HK): Controlling shareholder Shuren agrees to sell 29.9% stake to Scienjoy for approximately HKD 102.69 million
NewTimeSpace News: On 2 September 2026 (after trading hours), the board of directors of Leader Education Limited (stock code: 01449) was informed that Shuren Education Limited ("Shuren"), the controlling shareholder of the Company, entered into a sale and purchase agreement with Scienjoy Innovation Labs Inc. ("Scienjoy"), with Ms. Dong Ling acting as guarantor, in respect of the possible sale of 239,234,000 shares of the Company at a consideration of approximately HKD 102.69 million. The sale shares represent approximately 29.9% of the issued share capital of the Company, based on 800,000,000 shares in issue at the date of the sale and purchase agreement.
Completion is subject to the satisfaction of the conditions precedent under the sale and purchase agreement, including Scienjoy being satisfied with the results of its due diligence on the Company and its subsidiaries, the absence of material breaches of warranties by Shuren, the obtaining of required waivers and consents, the shares not being cancelled or delisted from the Main Board of the Hong Kong Stock Exchange on or before the completion date, and the shares not having been continuously suspended for more than ten business days. Scienjoy is a company incorporated in the British Virgin Islands and is wholly owned by Scienjoy Holding Corporation, a Nasdaq-listed company (ticker symbol: SJ); the Board understands that Scienjoy's acquisition of the sale shares constitutes a strategic investment, and Scienjoy and its ultimate beneficial owners are independent of the Company and its connected persons.
At the date of the sale and purchase agreement, Shuren beneficially owned 300,000,000 shares of the Company, representing approximately 37.5%. Upon completion of the sale, assuming no change in the issued share capital, Shuren together with Junhua Education Limited will continue to act as the controlling shareholders and beneficially own an aggregate of 257,440,000 shares (approximately 32.18%), while Scienjoy will beneficially own 239,234,000 shares (approximately 29.9%). The Board expects that the sale will not have any adverse impact on the business operations, financial position or the composition of the Board and senior management. The Company noted that completion of the sale is subject to the satisfaction of conditions precedent and may or may not proceed.
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