Offcn Education settles major arbitration, faces new ¥93m construction lawsuit

Offcn Education Technology Co., Ltd. announced a resolution in a major arbitration case totaling ¥516,811,907.77 (including interest, penalties, and legal fees). A settlement was reached through the China International Economic and Trade Arbitration Commission. The company's subsidiary, Beijing Offcn Education Technology Co., Ltd., was the respondent, with payment due to the applicant, Shanghai Pudong Development Bank Beijing Branch, by December 31, 2025.

Concurrently, the company is facing a new significant lawsuit, with Beijing Offcn Education Technology Co., Ltd. and Offcn Education Technology Co., Ltd. among the defendants. The lawsuit, filed by Beijing Hetaia Construction Engineering Co., Ltd., involves construction contract disputes totaling ¥93,322,273.67. The case has been accepted by the Beijing Changping District People's Court and is awaiting its first hearing.

Additionally, Offcn Education Technology and its subsidiaries reported 630 newly accrued lawsuits and arbitrations between July 15, 2025, and November 3, 2025, with a cumulative value of ¥18,152,672.15. The company stated that the impact of these cases on its current and future profits remains uncertain, pending accounting adjustments and auditor confirmation.