According to the CCPC Education announcement, the 48 million shares held by the controlling shareholder Li Yongxin were judicially auctioned by the People's Court of Shangcheng District, Hangzhou City, Zhejiang Province from December 8 to 9, 2025, and the transfer registration was completed recently. After the transfer, the shareholding ratio of Li Yongxin and his co-actors fell from 17.70% to 16.92%, and the change in equity touched 1%. As of the disclosure date of the announcement, it has accumulated 659.0836 million shares pledged, accounting for 63.16% of the shares held and 10.69% of the total share capital; a total of 863.909 million shares have been judicially frozen and flagged, accounting for 82.78% of the shares held and 14.01% of the total share capital. If the debt cannot be repaid later, there is a risk that its shares will be disposed of, or affect the stability of the company's control, but this auction will not affect corporate governance and daily operations for the time being.

According to the CCPC Education announcement, the 48 million shares held by the controlling shareholder Li Yongxin were judicially auctioned by the People's Court of Shangcheng District, Hangzhou City, Zhejiang Province from December 8 to 9, 2025, and the transfer registration was completed recently. After the transfer, the shareholding ratio of Li Yongxin and his co-actors fell from 17.70% to 16.92%, and the change in equity touched 1%. As of the disclosure date of the announcement, it has accumulated 659.0836 million shares pledged, accounting for 63.16% of the shares held and 10.69% of the total share capital; a total of 863.909 million shares have been judicially frozen and flagged, accounting for 82.78% of the shares held and 14.01% of the total share capital. If the debt cannot be repaid later, there is a risk that its shares will be disposed of, or affect the stability of the company's control, but this auction will not affect corporate governance and daily operations for the time being.