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HK stocks are on the move | Education stocks are all rising, as the policy proposes expanding the supply of high-quality education resources. Private high schools are the first to benefit from the warming of HK stocks.
Education stocks are on the rise. As of the time of publication, China Edu Group (00839) rose by 5.65% to HK$5.05; Beststudy Edu (03978) rose by 5.12% to HK$3.08; New Oriental-S (09901) rose by 3.85% to HK$47.15; China East Edu (00667) rose by 3.33% to HK$3.1.
Dashan Education Proposes HK$150 Million Bond Issue
Dashan Edu (09986.HK) plans to issue no more than 0.15 billion Hong Kong dollars.
On October 8, Gelonhui reported that Dashan Edu (09986.HK) intends to issue bonds to independent third-party investors. The proposed total principal amount of the bonds shall not exceed 0.15 billion Hong Kong dollars. The bonds may be issued in one or more batches. The net proceeds from the proposed bond issuance are intended to be used for the development of existing overseas education consulting services business, exploring new business opportunities (including but not limited to brand operation and management consulting services), and for general working capital.
Dashan Edu (09986.HK): Li Jing will be appointed as an executive director and CEO.
Dashan Edu (09986.HK) announced on September 27 that starting from September 27, 2024: (i) Jia Shuilin will resign as a non-executive director; (ii) Zhang Jian will resign as an independent non-executive director, member of the audit committee, nomination committee, and investment management committee, as well as chairman of the remuneration committee; (iii) Zhang Hongjun will resign as CEO; (iv) Li Jing will be appointed as an executive director, CEO, and member of the investment management committee; (v) You Huanyu will be appointed as an independent non-executive director and a member of the audit committee; and (vi) Wang Yanxiao will be reassigned as chairman of the remuneration committee.
The central bank has launched two measures at the same time! The reserve requirement ratio is reduced by 0.5 percentage points, and the 7-day reverse repurchase operation interest rate is lowered by 20 basis points.
Starting from September 27, 2024, the reserve requirement ratio for financial institutions is reduced by 0.5 percentage points. After this reduction, the weighted average reserve requirement ratio for financial institutions is approximately 6.6%.
Sudden Movement Report | China Edu Group rises by 4.30%, leading the education stocks, with a major support policy for professional education released, institutions bullish on the long-term development of the industry
Education stocks lead the gains. As of the deadline for this report, China Edu Group rose by 4.30% to HK$4.85; China East Edu rose by 3.83% to HK$2.44; and China East Education rose by 2.54% to HK$2.42.
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