Meng Guanglin agreed to acquire 49% stake in Guangdong Jiecheng Education Consulting Services Co., Ltd from Qtone Education Group (Guangdong) Co.,Ltd (SZSE:300359) for CNY 2.9 million on April 28, 2020. For the financial year December 31, 2019, Guangdong Jiecheng Education Consulting Services Co., Ltd reported revenue of CNY 1.6 million, total assets of CNY 6.4 million, total common equity of CNY 5.9 million, operating loss of CNY 0.14 million, net loss of CNY 0.14 million. The transaction is approved by the board of Qtone Education Group (Guangdong) Co.,Ltd.