Core Points - The company,希教国际控股, announced a rights issue to issue 445 million shares based on a "12 for 1" basis on September 24, 2025 [1] Summary by Category - **Company Announcement** -希教国际控股 will issue 445 million shares as part of a rights issue scheduled for September 24, 2025, under a "12 for 1" basis [1]

Core Viewpoint - The company, Xuejiao International Holdings (01765), announced a rights issue to issue 445 million shares based on a "12 for 1" basis, scheduled for September 24, 2025 [1] Summary by Category - **Company Announcement** - Xuejiao International Holdings will conduct a rights issue to issue 445 million shares [1]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 希教國際控股有限公司 呈交日期： 2025年9月24日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 01765 | 說明 | 不適用 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | 事件 | | 已發行股份 ...

Core Viewpoint - The company, Xuejiao International Holdings (01765.HK), announced the results of its rights issue, indicating a subscription rate of approximately 64.9% for the offered shares, leading to a shortfall of 35.1% in subscriptions [1] Group 1 - The company received a total of 15 valid acceptances for the rights issue, involving 440 million shares, which represents about 64.9% of all offered shares [1] - There was a shortfall of 240 million shares, equivalent to approximately 35.1% of the total offered shares, which will be subject to the unsold arrangement [1] - No unsold shares were successfully placed with any subscribers by the deadline, resulting in no net proceeds available for distribution to non-participating shareholders [1] Group 2 - The total amount raised from the rights issue was approximately HKD 89 million, with the net proceeds (after deducting all related expenses) amounting to about HKD 87.4 million [1] - The company intends to use the net proceeds to fulfill its payment obligations related to outstanding convertible bonds [1]

Core Viewpoint - The company,希教国际控股, announced that no unallocated rights shares were successfully placed to any subscribers by the deadline of September 15, 2025, resulting in no net proceeds available for distribution to non-participating shareholders [1] Summary by Relevant Sections - **Rights Issue Results** - A total of 444,792,885 rights shares will be issued, representing 64.9% of the total rights shares offered for subscription [1] - **Funds Raised** - The total amount raised from the rights issue, including unallocated arrangements, is approximately HKD 89 million, with a net amount of approximately HKD 87.4 million after deducting all related expenses [1] - **Use of Proceeds** - The net proceeds are intended to fulfill the company's payment obligations related to outstanding convertible bonds [1]

Core Insights - The company,希教国际控股, announced that no unallocated rights shares were successfully placed to any subscribers by the deadline of September 15, 2025, resulting in no net proceeds available for distribution to non-participating shareholders [1] - A total of 444,792,885 rights shares will be issued, representing 64.9% of the total rights shares offered for subscription [1] - The total amount raised from the rights issue is approximately HKD 89 million, with a net amount of approximately HKD 87.4 million after deducting all related expenses [1] - The net proceeds are intended to fulfill the company's payment obligations related to outstanding convertible bonds [1]

XJ International Holdings Co., Ltd. 希教國際控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：1765） 按於記錄日期每持有十二(12)股現有股份 獲發一(1)股供股股份的基準 進行供股的結果 茲提述希教國際控股有限公司（「本公司」）日期為2025年8月21日供股章程（「供股章 程」）及本公司日期為2025年9月5日的公告（「該公告」），內容有關（其中包括）供股。 除另有界定者外，本公告所用詞彙與供股章程及該公告所界定者具有相同涵義。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部 分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 供股結果及未認購安排 誠如該公告所披露，於2025年9月4日（星期四）下午四時正（即最後接納期限），本公 司已接獲合共15份有效接納，涉及合共444,792,885股供股股份，相當於所有供股股 份約64.9%。因此，供股出現240,621,673股供股股份（「配售股份」）的認購不足，相 當於所有供股股份約35.1%，該等股份將受 ...

Group 1: Industry Investment Rating - The report maintains a positive outlook on the overseas education sector, indicating a favorable investment rating due to the maturation of profit-oriented classification management and market reforms driving the expansion of higher education institutions [1][2]. Group 2: Core Insights - The conditions for profit-oriented classification management in private education are gradually maturing, with quality improvement in private schools being a crucial prerequisite for this transition. The report anticipates an acceleration in the implementation of profit-oriented policies for private schools, which will enhance the supply of higher education while ensuring quality [1][9]. - The establishment of profit distribution rights for private schools has led to increased certainty in asset returns. The average profit margin for the six listed private higher education companies is approximately 30.9%, with an average ROE of 12%. This indicates a robust commercial model that seeks to expand scale and revenue [2][10]. - The report highlights a significant mismatch between supply and demand in the higher education sector, with the number of college admissions only increasing from 10.36 million in 2021 to 10.69 million in 2024, while the number of high school graduates entering the college entrance examination has risen from 10.78 million in 2021 to 13.42 million in 2024. This has resulted in a declining college admission rate from 96.1% in 2021 to 79.6% in 2024 [2][10]. - The report suggests that the current quality standards achieved by listed private higher education companies will lay a solid foundation for the reintroduction of profit-oriented choices, which is expected to enhance the valuation of the higher education sector [2][11]. Group 3: Company Focus - The report recommends focusing on several key companies in the overseas education sector, including Yuhua Education, Zhongjiao Holdings, China Kepei, Neusoft Ruixin, Zhonghui Group, New Higher Education, Xijiao International Holdings, and Huaxia Holdings, as they are well-positioned to benefit from the anticipated policy changes [3][11][14].

Group 1 - The core point of the article is that Xijiang International Holdings (01765) has seen a significant stock price increase of over 14%, reaching a new high of 0.26 HKD since May of the previous year [1] - As of the report, the stock is up 14.35%, trading at 0.255 HKD with a transaction volume of 13.8038 million HKD [1] - The company announced the completion of prerequisites for the restructuring of zero-coupon convertible bonds maturing in 2026, including the payment of consent fees, with the restructuring effective date being September 11 [1] Group 2 - The company anticipates redeeming the outstanding bonds around September 25 [1] - Zheshang Securities noted an improvement in market expectations regarding the profitability registration process, which may alleviate concerns about dividends and overseas debt repayment capabilities [1] - Cinda Securities highlighted that the private higher education sector, with a typical PE ratio of 3-6x, is expected to experience significant valuation recovery, referencing the market trends from October to November 2022 [1]

Group 1 - The core viewpoint of the article highlights the significant increase in the stock price of Xijiao International Holdings (01765), which rose over 14% to reach a new high of 0.26 HKD since May of the previous year [1] - As of the report, the stock was trading at 0.255 HKD with a transaction volume of 13.8038 million HKD [1] - The company announced the completion of prerequisites for the restructuring of zero-coupon convertible bonds maturing in 2026, including the payment of consent fees, with the restructuring effective date set for September 11 [1] Group 2 - The company anticipates redeeming the outstanding bonds around September 25 [1] - Zheshang Securities noted an improvement in market expectations regarding the profitability registration process, which may alleviate concerns about dividends and overseas debt repayment capabilities [1] - Cinda Securities indicated that the private higher education sector, with a typical PE ratio of 3-6x, is likely to experience significant valuation recovery, similar to the market trend observed in late 2022 [1]