Tongyi Zijin No. 3 private equity securities investment fund managed by Shanghai Tongyi Investment Management Co., Ltd. agreed to acquire a 4.46% stake in Offcn Education Technology Co., Ltd. (SZSE:002607) from Lu Zhongfang on December 9, 2022. The price of CNY 3.885 cash per share will be paid for 275 million shares of Offcn Education Technology.

In a related transaction, Shanghai Kaishuang Private Equity Fund Management Co., Ltd., managed by Huatai Securities (Shanghai) Asset Management Co., Ltd. signed the share transfer agreement to acquire a 4.46% stake in Offcn Education Technology Co., Ltd. (SZSE : 002607) from Lu Zhongfang for CNY 1.1 billion. Following these disposals, Lu Zhongfang will be holding 14.94% stake in Offcn Education Technology. The transaction is subject to Shenzhen Stock Exchange approval.