Asia
Doushen Education and Tech's Subsidiary Agrees on 35 Million Yuan From Local Government Over Construction Dispute
Doushen (Beijing) Education & Technology's (SHE:300010) subsidiary, Yanling Sixue Education Technology, agreed to receive a settlement of 34.9 million yuan from Yanling County's education and sports bureau in relation to a construction deal dispute, according to a Thursday filing on the Shenzhen bourse.The Chinese education company's shares rose 3% at the close of Friday's trade.The settlement will be paid in five installments until December 2028.Moreover, Yanling Sixue will bear 4.5 million yuan of the disputed amount. The bureau also agreed to assist the company in resolving the issue amounting to 1.2 million yuan and to issue an entrusted payment letter worth 1.4 million yuan.
SHE:300010
