Beijing Zhuxue Tianxia Education Technology Co., Ltd. agreed to acquire 80% stake in Beijing ZZNode Software Technology Co., Ltd. from Beijing ZZNode Technologies Co., Ltd. (SZSE:003007) for CNY 66.5 million on December 13, 2023. An equity transfer framework agreement has been signed on December 25, 2023. The consideration consists of CNY 66.5 million in cash.

As part of the consideration, CNY 66.5 million was paid towards common equity. Beijing ZZNode Software Technology reported total assets of CNY 27.2 million and net assets of CNY 27.2 million as on November 30, 2023. The transaction was approved by the Board of Directors of Beijing ZZNode Technologies and is subject to approval by its shareholders.