Tuopai Xingfeng No. 9 Private Securities Investment Fund, managed by Shanghai Tuopai Asset Management Co., Ltd. signed a share transfer agreement to acquire 5% stake in Offcn Education Technology Co., Ltd. (SZSE:002607) from Lu Zhongfang for CNY 1.3 billion on November 10, 2022. AS per the terms, the offer price per share is CNY 4.37.

The total amount of the first-phase share transfer price is CNY 200 million the transferee shall pay to the bank account designated by the transferor within 15 working days after the equity transfer has obtained the compliance review of Shenzhen Stock Exchange. The total transfer price for the second phase of shares is CNY 1.5 billion, and the transferee shall pay within 30 working days after the Shenzhen Branch of China Securities Depository and Clearing Corporation Limited has completed the transfer procedures register.