Beijing-based live streaming platform Scienjoy Holding Corporation has agreed to purchase a 29.9% stake in Leader Education Limited for HK$102.69 million, or approximately US$13.1 million. The deal marks a strategic pivot for the NASDAQ-listed firm as it seeks to integrate its proprietary AI technology into formal education services.
The agreement, finalized through Scienjoy’s subsidiary Scienjoy Innovation Labs, involves the acquisition of 239,234,000 ordinary shares from Shuren Education Limited. The transaction is classified as a related party deal, as Jun Lu currently serves as an independent director at Scienjoy while simultaneously holding an executive director position at Leader Education.
Scienjoy CEO Victor He stated that the investment aims to merge his company’s AI-driven content management systems with Leader Education’s existing infrastructure. Leader Education currently operates the Heilongjiang College of Business and Technology and oversees vocational schools across the Yangtze River Delta and Beijing-Tianjin-Hebei regions.
Completion of the sale remains subject to standard closing conditions, including successful due diligence and the maintenance of Leader Education’s listing on the Main Board of the Stock Exchange of Hong Kong. The companies have stipulated that trading of the shares must not be suspended for more than ten consecutive business days prior to the final closing date, which is expected five business days after all regulatory and contractual requirements are satisfied.
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