Nanchang Economic Development Zone Chinese Xushun Enterprise Management Partnership Enterprise signed a share transfer agreement to acquire an additional 8% minority stake in Qtone Education Group Co.,Ltd from Chen Chichang and Quanding Capital Management Co., Ltd. for approximately CNY 260 million.
August 10, 2021
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Nanchang Economic Development Zone Chinese Xushun Enterprise Management Partnership Enterprise signed a share transfer agreement to acquire an additional 8% minority stake in Qtone Education Group (Guangdong) Co.,Ltd (SZSE:300359) from Chen Chichang and Quanding Capital Management Co., Ltd. for approximately CNY 260 million on August 10, 2021. under the transaction, Nanchang Economic Development Zone Chinese Xushun Enterprise Management Partnership Enterprise will acquire 50,728,274 shares at a price of CNY 5.04 per share. Under the transaction, Quanding Capital Management Co., Ltd. will sell 5.0322% stake and Chen Chichang will sell 2.9734% stake. Post transaction, Quanding Capital Management Co., Ltd. will not have any stake, whereas, Nanchang Economic Development Zone Chinese Xushun Enterprise Management Partnership Enterprise and Chen Chichang will have 14.9014% stake and 14.9014% stake in Qtone Education Group (Guangdong) Co.,Ltd, respectively.
QTONE EDUCATION GROUP (GUANGDONG).,LTD. , formerly GUANGDONG QTONE EDUCATION CO., LTD is primarily engaged in the provision of family education information services. The Company operates in three segments, including Family Interaction Updating, Education Software as a Service (EdSaaS) and Continuing Education. The Company mainly operates its business in domestic market.
Nanchang Economic Development Zone Chinese Xushun Enterprise Management Partnership Enterprise signed a share transfer agreement to acquire an additional 8% minority stake in Qtone Education Group Co.,Ltd from Chen Chichang and Quanding Capital Management Co., Ltd. for approximately CNY 260 million.
QTONE EDUCATION GROUP (GUANGDONG) CO.,LTD 
