Kaiwen Education to establish wholly-owned subsidiaries

Beijing Kaiwen Education Technology (SZSE:002659) announced its plan to establish two wholly-owned subsidiaries, Beijing Haike Zhengpei Technology Co., Ltd., and Beijing Haike Sichuang Technology Co., Ltd. The decision, approved at the company's sixth board meeting, aims to leverage Haidian District's strengths in education, technology talent, and innovation to cultivate party and government cadre training services and technological innovation talent training businesses, enhancing the company's vocational education sector. Each subsidiary will have a registered capital of 20 million yuan, funded entirely by Kaiwen Education's own capital. The subsidiaries will operate in areas including cultural education exchange, consulting, educational research and investment, enterprise management consulting, property leasing, training (excluding educational and vocational skills training requiring a license) and conference and exhibition services. The establishment will not materially affect Kaiwen Education's financial position and is not expected to harm the interests of the company or its shareholders.