China Hi-Tech Group Co., Ltd. (SHSE:600730) intends to acquire an additional 16% stake in Guangxi Yingteng Education Technolgy Co.,Ltd from Lan Tao, Tong Xilin and Lü Tie for CNY 65.3 million on November 19, 2021. As per the transaction, China Hi-Tech Group Co., Ltd. will acquire 3.36 million shares. Post completion, China Hi-Tech Group Co., Ltd. will hold 67% stake of Guangxi Yingteng Education Technolgy Co.,Ltd. The transaction will be financed through own funds.

As of June 30, 2021, Guangxi Yingteng Education Technolgy Co.,Ltd has reported total assets of NCY 166.98 million and net assets of CNY 130.92 million. The transaction is subject to obtaining approval from the shareholders of China Hi-Tech Group Co., Ltd. while its Board of Directors has approved the transaction. As of December 6, 2021, the transaction is approved by the shareholders of China Hi-Tech.