Doushen Education: termination of major asset sales
Doushen Education announced that previously, in order to resolve the company's debt crisis and reduce liquidity risk, the company's wholly-owned subsidiary planned to sell 100% equity of Beijing lischen New Technology Co., Ltd. to Hainan chain zhongyitong Network Technology Co., Ltd., which constituted a major asset sale. In view of the fact that this transaction did not complete the pre-approval procedures within the time limit agreed in the agreement, the counterparty proposed to terminate this transaction. The company will terminate this major asset sale, and will, depending on the communication between all parties and the progress of various work, choose an opportunity to re formulate the relevant asset disposal plan.
This text is a result of machine translation.
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