China Hi-Tech Group to Suspend Trading from Dec 15 Amid Planned Control Rights Change

Deep News12-12

China Hi-Tech Group Co., Ltd. (China Hi-Tech) announced two key notices on the evening of December 12, involving a proposed change in control rights and an explanation of abnormal stock price fluctuations.

According to the announcement, China Hi-Tech received a notice from its direct controlling shareholder, Founder International Education Consulting Co., Ltd. (Founder International Education). The latter’s parent company, New Founder Holdings Development Co., Ltd., plans to indirectly transfer its 117 million unrestricted tradable shares in China Hi-Tech—representing 20.03% of total shares—by selling its stake in Founder International Education. If completed, this transaction would result in a change of control for China Hi-Tech.

Due to the ongoing planning process and associated uncertainties, China Hi-Tech will suspend trading starting December 15 (Monday) to ensure fair information disclosure and protect investor interests. The suspension is expected to last no more than two trading days.

On December 12, China Hi-Tech’s stock surged to the daily limit, closing at CNY 15.91 per share, with a total market capitalization of CNY 9.334 billion. The company specializes in vocational education while maintaining stable operations in real estate and asset services.

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