Offcn Education shareholder sees significant re-freezing of shares

Offcn Education Technology announced that its controlling shareholder, Li Yongxin, and his concert parties have accumulated a significant level of pledged and frozen shares. As of October 16, 2025, Li Yongxin's cumulative pledged shares amount to 690,927,945 shares, representing 63.30% of his total holdings and 11.20% of the company's total share capital. The total judicially frozen and marked shares, including this latest re-freezing, stand at 893,195,473 shares, accounting for 81.83% of his holdings and 14.48% of the company's total share capital.

The latest re-freezing involved 183,886,641 shares of Li Yongxin's holdings, initiated by the Foshan Nanhai District People's Court, representing 20.73% of his total holdings and 2.98% of the company's total share capital. Meanwhile, 16,155,653 shares were released from freezing by the Wuhu Jinghu District People's Court.

The company highlighted that the high proportion of pledged and frozen shares, coupled with a heavy debt burden and tight capital chains, poses a risk of further judicial disposal or forced execution if debts are not repaid. This could potentially affect the stability of the company's control. Offcn Education Technology stated that it will continue to monitor the situation and provide timely disclosures.