Kaiyuan Education Technology Group (300338.SZ): The court allows the pre-reorganization application and appoints a temporary administrator.

Kaiyuan Education Technology Group (300338.SZ) announced that on September 23, 2024, the company received a "Notice" ((2024) Hunan 01 Break Application No. 120) issued by the Changsha Intermediate People's Court, allowing the applicant to file for pre-reorganization of the company. The pre-reorganization period is 3 months, starting from the date of the relevant notification being served to the company. On September 23, 2024, the company received a "Decision" ((2024) Hunan 01 Break Application No. 120) issued by the Changsha Intermediate People's Court, appointing Shanghai Fangda Law Firm as the interim administrator for the company's pre-reorganization period. Entering into the pre-reorganization process is conducive to initiating early creditor claims and reviews, asset investigations and evaluations, and facilitating communication and soliciting opinions from creditors, potential restructuring investors, etc. It helps in negotiating and studying restructuring plans, improving the efficiency of subsequent restructuring work, and increasing the success rate of voting on the restructuring plan draft. During the pre-reorganization period, the company will actively cooperate with the court and the interim administrator, fulfill the legal obligations of debtors, actively discuss solutions to the company's debt problems and future business development issues, promote the progress of the company's restructuring work, and ensure the stable operation of the company and its subsidiaries.