SXN(SH:600661) Zheng Quan Shi Bao Wang·2025-09-16 12:02Core Viewpoint - The company plans to sell 100% equity of Kensington Park School Limited (KPS) for £80,000 (approximately 760,100 RMB) to Hong Kong KS Education Group Limited, expecting an investment gain of about 20 million RMB from the transaction [1][3]. Group 1: Company Strategy and Financial Impact - KPS has faced significant operational challenges from 2016 to 2021 due to various factors including reforms in A-Level and GCSE exams, tightened immigration policies post-Brexit, and the pandemic, leading to substantial cumulative losses [2]. - After acquiring KPS in 2022, the company implemented a professional management team to optimize its operations, which initially improved the situation, but ongoing pressures and rising costs have continued to impact KPS negatively [2]. - The company aims to enhance its asset structure and resource allocation through the sale of KPS, which is expected to increase net assets by approximately 27 million RMB [3]. Group 2: Market Environment and Strategic Shift - The company has shifted its focus towards a business model centered on quality education, vocational and foundational education, international education, and adult education, moving away from direct operation of overseas schools [2]. - The international education segment has transitioned to a dual-driven model of language training and study abroad services, indicating a strategic pivot in response to the complexities and high management costs of the overseas education market [2].