Kevin Education (002659.SZ) plans to publicly list and transfer 100% of the shares of the three subsidiaries

Zhitong Finance App News, Kevin Education (002659.SZ) issued an announcement to speed up the pace of asset disposal within the company system, optimize asset allocation, and reduce the performance drag caused by the company's inefficient fixed assets. The company plans to transfer 100% of the shares of the three subsidiaries Kevin Hengxin, Kevin Renxin, and Kevin Camp held by the subsidiary Wen Kaixing through public listing on the Beijing Equity Exchange. The public listing transfer price was based on the assessed values of the three subsidiaries, and the reserve price for the listing transfer was 614 million yuan (ultimately subject to approval by the Haidian District State-owned Assets Administration Commission and actual confirmation by the Beijing Property Exchange).

The funds recovered from this equity transfer can be directly used to repay bank loans, effectively reducing the company's balance ratio. At the same time, the transaction will help the company to further concentrate resources, focus on and develop the core competitive education business, and promote the company's long-term steady operation.