Beisen Holding Limited (9669) Reports Progress on Kuxuan Acquisition and Concurrent Share Transaction

Bulletin Express

Nov 01

Beisen Holding Limited (the “Company”) (Stock Code: 9669) announced that Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited disclaim responsibility for the contents of its latest update regarding Kuxuan (Beijing) Technology Co., Ltd. (“Target Company”) and the Concurrent Share Transaction.

According to the announcement, the Target Company obtained the Value-Added Telecommunications Business Operating License (ICP License) from the Ministry of Industry and Information Technology of the PRC on 18 October 2025. With this license secured, the Target Company is now fully authorized to establish an information platform for providing online training courses in Mainland China.

The acquisition of the Target Company took place in January 2025, and its financial results have been consolidated into the Company’s accounts. By April 2025, the second instalment conditions under the Onshore Equity Transfer Agreement were met, and the Group therefore completed the necessary cash payment. The Share Exchange Vendors subsequently obtained ODI Approval for participation in a BVI company in June and August 2025, and they are currently applying for ODI Approval for the subscription of the Consideration Shares. A new long stop date of the Concurrent Share Transaction is under discussion since the transaction has not yet been completed as of the announcement date, 31 October 2025.

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(“Target Company”) and the Concurrent Share Transaction.</p>\n<p>According to the announcement, the Target Company obtained the Value-Added Telecommunications Business Operating License (ICP License) from the Ministry of Industry and Information Technology of the PRC on 18 October 2025. With this license secured, the Target Company is now fully authorized to establish an information platform for providing online training courses in Mainland China.</p>\n<p>The acquisition of the Target Company took place in January 2025, and its financial results have been consolidated into the Company’s accounts. By April 2025, the second instalment conditions under the Onshore Equity Transfer Agreement were met, and the Group therefore completed the necessary cash payment. The Share Exchange Vendors subsequently obtained ODI Approval for participation in a BVI company in June and August 2025, and they are currently applying for ODI Approval for the subscription of the Consideration Shares. 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