China 21st Century Education Group Limited (SEHK:1598) entered into equity transfer agreement to acquire Chongqing Jueqi Investment Co., Ltd. from Heze Chiyue Education Technology Partnership and Heze Dingchi Educational Technology Partnership (Limited Liability Partnership) for CNY 410 million on September 28, 2021. The transaction also involves payment of approximately CNY 202.2 million for the share transfer; and approximately CNY 207.8 million for the debt assignment. The consideration consists of CNY 360 million in cash (among which approximately CNY 152.2 million is for settlement of part of the consideration for the share transfer, and approximately CNY 207.8 million is for settlement of the consideration for the debt assignment); and CNY 50 million by the allotment and issue of Consideration Shares (being the remaining part of the consideration of the Share Transfer). For the year ending December 31, 2020, Chongqing Jueqi Investment Co., Ltd. reported revenues of approximately 40.7 million and net loss of CNY 0.7 million. China 21st Century Education Group Limited (SEHK:1598) canceled the acquisition of Chongqing Jueqi Investment Co., Ltd. from Heze Chiyue Education Technology Partnership and Heze Dingchi Educational Technology Partnership (Limited Liability Partnership) on November 18, 2021. The Parties entered into a termination agreement, pursuant to which the parties have mutually agreed to terminate the Share Transfer Agreement with immediate effect.