Top Education Group Ltd (Top Education) announced that substantial shareholder Guoli Minsheng Equity Investment Co., Ltd. disposed of 351.18 million shares—equivalent to 16.17% of Top Education’s issued share capital—via block trade on 23 June 2026. The shares were sold to an independent third-party purchaser at HK$0.125 each, generating proceeds of approximately HK$43.90 million.

Following the transaction, Guoli Minsheng no longer qualifies as a substantial shareholder of Top Education. Yi Dai, Top Education’s non-executive director and managing director of Guoli Minsheng, confirmed that neither he nor Guoli Minsheng possessed inside information when executing the sale.

The board stated that the disposal will not exert a material adverse impact on the Group’s business operations or financial position. Management also acknowledged unusual share-price movements on the Hong Kong Stock Exchange on the transaction date but reported no undisclosed information that could explain the volatility.

Top Education’s board advised shareholders and potential investors to exercise caution when dealing in the company’s shares.