Offcn Education controlling shareholder faces new share freeze

Offcn Education Technology announced that 183,886,641 shares held by its controlling shareholder, Li Yongxin, have been rotationally pre-emptively frozen by the Beijing No.1 Intermediate People's Court, effective November 12, 2025. This represents 20.73% of his total holdings and 2.98% of the company's total share capital. The freezing is due to a loan guarantee dispute with Zheshang Gold Trust Co., Ltd., involving RMB300.1852 million.

As of the announcement date, Li Yongxin and his concerted parties have a cumulative 707,083,598 shares pledged, representing 64.78% of their total holdings and 11.46% of the company's total share capital. Judicial freezing and marking affect 911,909,030 shares, or 83.54% of their holdings and 14.79% of total capital. With this new action, the total number of rotationally frozen shares stands at 366,310,887 shares, accounting for 33.36% of their holdings and 5.94% of the company's total share capital.

The company warns investors that the high proportion of pledged and frozen shares indicates heavy debt burdens and tight capital chains for the controlling shareholder. Should they fail to repay debts using assets other than company shares, there is a risk of further judicial disposal or enforcement, which could impact the stability of the company's control.