[Domestic] Education Chinese stocks fell collectively on June 3, Eastern Time, and many Education Chinese stocks fell sharply after opening. During the session, the stock prices of New Oriental, Future Future, Gaotu and other companies fell by more than 10%. As of the close of US

【Domestic】

Education Chinese stocks fell collectively

Eastern Time on June 3, many Education Chinese stocks fell sharply after opening. During the session, the stock prices of companies such as New Oriental , Good Future , and Gaotu fell by more than 10%. As of the close of the US stock market on that day, the share price of Good Future was US$33.27 per share, a drop of 13.16%; the share price of New Oriental was US$9.32 per share, a drop of 12.08%; the share price of Gaotu was US$14.95 per share, a drop of 13.83%; the share price of NetEase Youdao was US$22.96 per share, a drop of 6.82%; the share price of Yi Education was US$4.89 per share, a drop of 9.78%; the share price of 51Talk was US$9.49 per share, a drop of 6.13%.

.com rumored that programming cat layoffs for more than a month

Recently, there have been constant rumors about layoffs in online education institutions. Recently, on the workplace social platform Maimai, a person certified as an employee of Shenzhen Dianmao Technology Co., Ltd. (hereinafter referred to as "Dianmao Technology") revealed that the large-scale layoffs of Programming Cat have been on the back of more than a month. The departments have laid off 700 or 800 people in total, mainly laying off record classes + customized classes teachers. The whistleblower said that the reason for the layoffs is the difficulty of recruiting new employees. Many teachers only have one class and start to control costs. However, according to the recruitment website, there are still hundreds of jobs in Programming Cat currently recruiting. As of now, Programming Cat has not responded to the rumor of layoffs.

Doushen Education plans to sell equity of Kangbang Technology, wholly-owned subsidiary

Recently, Doushen Education issued an announcement stating that in order to optimize the asset structure and help the company's long-term development, the company is planning to sell equity of Kangbang Technology, the proposed transaction method, counterparty, transaction equity ratio and transaction price have not yet been determined, and the specific transaction plan is to be further determined. If the plan to sell Kangbang Technology's equity is finally determined to sell all the shares, it can bring more cash inflows to the listed company; if it is finally determined to sell part of the shares and introduce new shareholders, it can improve the operation and management of Kangbang Technology. In addition, the planning to sell Kangbang Technology's equity is in line with the company's long-term development strategy, helps to optimize the company's asset structure, and is in line with the overall interests of the company and shareholders.

Neosoft Education completed the acquisition of equity of its subsidiary

Recently, Neusoft Education issued an announcement stating that it has completed the acquisition of 8.40%, 4.85% and 5.93% of the interests of Neusoft Ruixin, each held by China Life Insurance, China Life Health and Northeast University Group. Neusoft Ruixin, namely Dalian Neusoft Ruixin Technology Development Co., Ltd., has now become a wholly-owned subsidiary of Neusoft Education. This move may benefit Neusoft Education's future performance growth and reflects the company's confidence in its own development. It will also help the company improve operational efficiency and further deepen the group management model, and consolidate its position in the IT higher education service field.

After Lingnan Education changed its name, it submitted a prospectus to the Hong Kong Stock Exchange again

Recently, China South China Vocational Education Group Co., Ltd. (hereinafter referred to as "South China Education") submitted a prospectus to the Hong Kong Stock Exchange, intending to go to Hong Kong for an IPO, and BNP Paribas is its exclusive sponsor. It is reported that the predecessor of South China Education is "Lingnan Education International Holdings Co., Ltd.", which submitted a listing application to the Hong Kong Stock Exchange on November 27, 2020, but the version of the Hong Kong Stock IPO application it submitted a few days ago has expired. Public information shows that South China Education is a service provider for private academic qualifications in the Greater Bay Area. Its main business is two schools operating in the Greater Bay Area, namely Lingnan Vocational and Technical College and Lingnan Modern Technician College.

New Higher Education Group

days ago, New Higher Education Group issued an announcement stating that the company, as the borrower, has entered into a financing agreement with Credit Suisse AG, Singapore Branch (Singapore Branch of Credit Suisse Co., Ltd., a limited liability company established in Switzerland), which includes a priority mortgage term loan and revolving loan financing up to US$100 million (with an over-financing right up to US$25 million), and the financing period will be 3 years from the first withdrawal.