Jiangsu Baoli Heavy Industry Technology Co.,Ltd. agreed to acquire Beijing Hoing Times Education Technology Co., Ltd, Beijing Golden Cradle Education Technology Co., Ltd. and Ivy Think Tank (Beijing) Education Technology Co., Ltd. from Vtron Group Co.,Ltd. (SZSE:002308) for approximately CNY 210 million on July 26, 2023. Jiangsu Baoli Heavy Industry Technology must pay 60% of the transfer price within 30 days after the agreement signing. The Jiangsu Baoli Heavy Industry Technology must pay the remaining 40% within 60 days after the agreement signing. The 3 companies reported total assets of CNY 304,771,600? and net assets of CNY 74,329,700 as at March 31, 2023.

Jiangsu Baoli Heavy Industry Technology Co.,Ltd. cancelled the acquisition of Beijing Hoing Times Education Technology Co., Ltd, Beijing Golden Cradle Education Technology Co., Ltd. and Ivy Think Tank (Beijing) Education Technology Co., Ltd. from Vtron Group Co.,Ltd. (SZSE:002308) on August 8, 2023.