JH Education acquires land use rights for new campus

JH Education (HKEX:1935) has announced a major transaction involving the acquisition of land use rights in Shangjie District, Zhengzhou City, Henan Province, PRC. The company will acquire the land use rights for RMB 305.98 million to construct a new campus for its consolidated affiliated entity, the College of Economics and Business. The land, with a total site area of approximately 517,731.81 square meters, will be used for higher education purposes. The company will use its internal resources to fund this project. JH Education has already received written shareholder approval for the acquisition. The company believes this acquisition will enhance its educational offerings and facilities, and boost its sustainable development. The term of the land use right is 50 years.