Li Shuangxi signed the Equity Transfer Agreement to acquire a 36% stake in Shenzhen Hodgen Education Technology Co., Ltd. from Wuxi Hodgen Technology Co., Ltd. (SZSE:300279) on April 28, 2022. Following transaction, Li Shuangxi holds 36% stake and Wuxi Hodgen holds 24% stake in Shenzhen Hodgen Education. As of March 31, 2022, Shenzhen Hodgen Education reported total assets of CNY 10.15 million and Net assets of CNY 6.74 million.