EQS-News: New Higher Education Group (2001.HK) shareholding increase by the Chairman of the Board and the Substantial Shareholder Optimistic about the Company's Perspective Confident with future development

Immediate Release 27 December 2019

（Stock Code: 2001.HK）

New Higher Education Group (2001.HK) shareholding increase by
the Chairman of the Board and the Substantial Shareholder
Optimistic about the Company's Perspective Confident with future development

(27 December 2019, Hong Kong) China New Higher Education Group ("New Higher Education Group", collectively referred to as the "Company" together with its subsidiary groups (stock code: 2001.HK)) implemented shareholding increase by Mr. Li Xiaoxuan, the Chairman of the Board of Directors and substantial Shareholder, for two consecutive days from 19 December to 20 December.

The shareholding increase by Mr. Li Xiaoxuan for two consecutive days from 19 December to 20 December involves a total of 1,053,000 shares at average prices of HK$2.7965 and HK$2.8228 respectively, with an aggregate amount of approximately HK$2.96 million. In fact, since this May, Mr. Li has increased his shareholding in the Company via the secondary market for several times for an aggregate of 4.053 million shares within just 7 months. The latest shareholding increase by Mr. Li involves 796,487,200 shares in long position of China New Higher Education Group, representing a ratio of 51.68%. This shareholding increase exactly represents Mr. Li Xiaoxuan's confidence in the Company's overall development perspective and growth potential.

Recent frequent shareholding increase activities by the Group's management demonstrate their optimism about the Group's perspective and long-term value and their confidence in the Group's future development. According to the information of the Hong Kong Stock Exchange, on 26 November, Mr. Wong Man Chung, Francis, former independent non-executive director, increased shareholding of 63,000 shares, at an aggregate amount of approximately HK$0.1701 million. As a result, Mr. Wong Man Chung, Francis holds 384,000 shares in long position of China New Higher Education Group, representing a ratio of 0.02%. This shareholding increase by Wong Man Chung, Francis is in the name of his charitable foundation. Taking into account of previous shareholding, Francis M. C. Wong Charitable Foundation holds an aggregate of 270,000 shares of China New Higher Education.

Mr. Li Xiaoxuan, the Chairman of the Board of Directors and the substantial Shareholder of China New Higher Education Group said that "The shareholding increase reflects my confidence in the Group's overall development perspective and growth potential. Looking forward, the Group will continue exploiting its advantage in collectivized school operation, in an effort to create greater development potential. The Group will also continue providing high-quality higher vocational education by staying true to the beginning mind, while maintaining rapid growth of results, in order to bring the shareholders and investors satisfactory returns."

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About China New Higher Education Group Limited
China New Higher Education Group Limited is a leading higher vocational education group in China, specialising in providing higher vocational education, with nearly 20 years of experience in the education industry. The Group is committed to helping every student become the best of themselves and gain the opportunity to excel in life. In 2009, the Group started to run schools in many provinces and regions, and its network has covered seven provinces and regions, including Yunnan, Guizhou, Hubei, Heilongjiang, Henan, Guangxi and Gansu.

The Group provides high-quality higher vocational education in a wide range of fields to equip students with practical experience and applicable skills to help them gain employability. As a leader in high-quality employment, the Company has received an award from the Ministry of Education for being among the top 50 tertiary institutes with the best graduate employability, with an average employment rate of over 97%. The Company was included in the Hang Seng Small Cap Index and the Hang Seng Hang Seng Consumer Goods & Services Index in August 2017, the MSCI China Small Cap Index in November 2017, and the Hong Kong Stock Connect Index in March 2018.


This press release is issued by Wonderful Sky Financial Group Limited on behalf of China New Higher Education Group Limited.
For enquiries, please contact:
Wonderful Sky Financial Group Limited
Janet Tang/Georgina Zhao
Tel: (852) 3970 2237/ (852) 3970 2236
E-mail: [email protected]