Xueda (Xiamen) Education Technology Group Co., Ltd. (SZSE:000526) agreed to acquire 80% stake in Dongguan Xueding Education Investment Co., Ltd. from Lin Hu on September 7, 2022. Dongguan Xueda will pay Dongguan Xueding CNY 14.6 million, of which CNY 6.4 million will be used to pay the registered capital corresponding to the equity acquired by Dongguan xueda from Lin Hu, the remaining amount of CNY 8.2 million will be included in the Dongguan Xueding Education capital reserve.