Lishui Xincheng Xinchuang Technology Development Partnership Enterprise (Limited Partnership) agreed to acquire 5.01% stake in Shanghai Jiaoda Onlly Co.,Ltd (SHSE:600530) from Shanghai Xinnanyang Only Education & Technology Co., Ltd. (SHSE:600661) for approximately CNY 150 million on September 29, 2021. Under the terms Lishui Xincheng Xinchuang Technology Development Partnership Enterprise (Limited Partnership) will acquire 39 million shares for CNY 3.8 per share. After the official share transfer agreement comes into effect, and before October 30, 2021, parties will open a bank account jointly managed by both parties, Lishui Xincheng Xinchuang Technology Development Partnership Enterprise (Limited Partnership) shall pay CNY 30 million. Lishui Xincheng Xinchuang Technology Development Partnership Enterprise (Limited Partnership) will pay all the remaining share transfer price to the co-managed account before January 5, 2022, within three working days after Shanghai Xinnanyang Only Education & Technology Co., Ltd completes the delivery obligation.

Lishui Xincheng Xinchuang Technology Development Partnership Enterprise (Limited Partnership) entered into share purchase agreement to acquire 5.01% stake in Shanghai Jiaoda Onlly Co.,Ltd from Shanghai Xinnanyang Only Education & Technology Co., Ltd. on October 26, 2021. In a related transaction Shanghai Xincheng Xinchuang Health Technology Development Co., Ltd. agreed to acquire 5.19% stake in Shanghai Jiaoda Onlly Co.,Ltd from Shanghai Xinnanyang Only Education & Technology Co., Ltd. The transaction is subject to board of directors and the general meeting of shareholders for deliberation of Shanghai Xinnanyang Only Education & Technology Co., Ltd. Transaction is approved by the board an shareholder of Shanghai Xinnanyang Only Education & Technology Co., Ltd. On February 9, 2022, the two parties signed the Supplementary Agreement on Share Transfer agreeing that Lishui Xincheng Xinchuang Technology Development Partnership (Limited Partnership) to pay all the remaining share transfer price to these jointly managed accounts before February 28, 2022.


Lishui Xincheng Xinchuang Technology Development Partnership Enterprise (Limited Partnership) completed the acquisition of 5.01% stake in Shanghai Jiaoda Onlly Co.,Ltd (SHSE:600530) from Shanghai Xinnanyang Only Education & Technology Co., Ltd. (SHSE:600661) on February 28, 2022.