SXN(SH:600661) Zheng Quan Zhi Xing·2025-07-15 10:26Transaction Overview - The company announced a change in the acquisition plan for a minority stake in Shanghai Yulun Education Technology Development Co., Ltd, with its wholly-owned subsidiary, Shanghai New Nanyang Education Technology Co., Ltd, set to acquire 20% of Yulun Education for RMB 13.36 million [1][2] - The acquisition will be executed in two phases, with the first phase involving the purchase of 29% of Yulun Education for RMB 49.3 million, and the second phase involving a maximum payment of RMB 34 million based on actual net profit calculations [4][5] Company Background - Yulun Education was established on June 7, 2004, with a registered capital of RMB 1 million, and operates in the field of educational technology, providing services such as study abroad consulting and international curriculum support [2][3] - The company has a well-structured internal governance and has appointed professional management to ensure that the recent passing of its previous owner does not significantly impact its operations [2] Financial Performance - As of the end of 2024, Yulun Education reported total assets of approximately RMB 60.29 million and total liabilities of about RMB 31.42 million, resulting in a net asset value of approximately RMB 28.87 million [4] - The company's revenue for the first quarter of 2025 was approximately RMB 4.61 million, with a net profit of around RMB 1.02 million [4] Impact of the Acquisition - The acquisition is expected to enhance the company's management efficiency and increase its market share in the international and basic education sectors [6] - Following the acquisition, the company's net assets are projected to increase by approximately RMB 25 million, and its ownership of Yulun Education will rise from 80% to 100%, making Yulun a wholly-owned subsidiary [6] Authorization and Approval - The acquisition plan was approved by the company's board of directors, which has authorized the management team to handle all related matters, including signing agreements and processing registration changes [6]