Heilongjiang Education Publishing House Co., Ltd announced a private placement of common shares for gross proceeds of CNY 1,300,000 on December 6, 2022. The transaction will include participation from returning investor, Heilongjiang Publishing & Media Co., Ltd. The transaction has been approved by the board of directors in its 14th meeting of the third board of directors and the 8th meeting of the third board of supervisors. After the capital increase, the investor still holds 100% stake in the company.