• Minsheng Education clarified that arbitrators upheld a RMB 2.18 billion exit price for a 49% stake in Leed International.
• The tribunal found the put option validly exercised on October 15, 2021, rejecting the subsidiary’s position on its validity and pricing.
• Proceedings launched in July 2026 to set aside the partial award remain ongoing; further challenges to the final award are under consideration.
• Completion remains subject to unresolved legal and share-encumbrance issues; RMB 400 million in unpaid loans remain secured against the option shares.
• The final award has had no impact on group operations or financial position; its ultimate financial impact remains uncertain.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Minsheng Education Group Co. Ltd. published the original content used to generate this news brief via IIS, the regulatory disclosure system operated by the Hong Kong Stock Exchange (HKex) (Ref. ID: HKEX-EPS-20261027-12384372), on October 27, 2026, and is solely responsible for the information contained therein.