Core Viewpoint - 21st Century Education (01598) has confirmed the auction of land use rights held by its subsidiaries due to failure to repay loans, which will not significantly impact the company's daily operations [1][2][3] Group 1: Auction Details - The company received two auction confirmation letters from the Gaoyi County People's Court for land use rights held by its subsidiaries [1] - The land use rights for Land IV, totaling 46,269.12 square meters, were auctioned for RMB 31.4048 million, while another parcel of land, totaling 21,324.05 square meters, was auctioned for RMB 9.744 million [1] Group 2: Loan Agreements and Defaults - In July 2024, Shijiazhuang Zerui entered into a loan agreement with Jiahetai Property for RMB 12.5 million, with Land IV used as collateral [2] - Shijiazhuang Xintianji Education also secured a loan of RMB 12.5 million from Hengfeng Pawn, with the same land used as collateral [2] - In June 2024, another loan agreement was made with Hengfeng Pawn for RMB 10 million, with additional land use rights pledged as collateral [3] Group 3: Impact on Operations - Following the auctions, Shijiazhuang Zerui no longer holds any rights to Land IV or the other land, and the board believes the auctions will not have a significant impact on the group's daily operations [3]
21世纪教育(01598)所持石家庄两宗土地被拍卖 对集团日常运营并无重大影响