On 23 March 2026, Heilongjiang College of Business and Technology, the core operating entity of LEADER EDU, executed a sale-and-leaseback transaction with Guotai Leasing valued at RMB50.00 million. The deal involves the disposal of teaching and campus equipment—book-valued at RMB55.40 million and independently appraised at RMB53.19 million—followed by an immediate leaseback for a 36-month term.

The lessee will make 12 quarterly instalments totalling either RMB54.86 million (if the purchase price is received in April 2026) or RMB54.87 million (if received in May 2026). These amounts comprise a RMB50.00 million principal and approximately RMB4.86 million in finance charges, reflecting an annualised interest rate of 6.03%. An additional upfront, non-refundable lease payment of RMB1.00 million is required 30 days before disbursement of the sale proceeds.

Collateral and Guarantees: • The leased assets themselves are mortgaged to Guotai Leasing. • Joint-and-several guarantees are provided by Chairman and CEO Mr. Liu Laixiang, Executive Director Ms. Dong Ling, and affiliated entity Harbin Xiangge Enterprise Management.

Regulatory Position: The transaction constitutes a “major transaction” under Hong Kong Listing Rule 14, with the highest applicable percentage ratio exceeding 25% but below 100%. Majority shareholders Shuren Education and Junhua Education—together holding 74.50% of issued shares—have delivered written approval, obviating the need for a general meeting.

Strategic and Accounting Impact: Management states that the arrangement provides immediate funding for campus construction and working-capital needs without disrupting operations, as the assets remain in use by the college. Under IFRS, the structure is treated akin to a secured loan; therefore, no disposal gain or loss will be recognised, and asset possession remains with the Group while ownership reverts for a nominal RMB1 upon lease expiry, assuming all obligations are met.