STOCKS | Lide Education Major Shareholder Sells 29.9% Stake For About HK$103 Million

Lide Education (01449) said Shuren Education, wholly owned by major shareholder Dong Ling, agreed after trading hours yesterday to sell more than 239 million shares, or 29.9% of the company, for about HK$103 million, according to ETNet. Dong Ling and Liu Laixiang, who are major shareholders and spouses, together held about 62.08% before the deal. After completion, Shuren Education's stake will fall to 7.6%, while Dong Ling and Liu Laixiang's combined holding will drop to 32.18% and Scienjoy's stake will rise to 29.9%. Scienjoy Innovation Labs Inc. is a BVI-incorporated company wholly owned by Nasdaq-listed Scienjoy Holding Corporation, which focuses on integrating artificial intelligence, mixed reality and other technologies into its digital content and lifestyle platform business. The board said Scienjoy's purchase of the sale shares is a strategic investment.