Huatu Hongyang Investment Co., Ltd. made an offer to acquire an additional 20.7% minority stake in Huatu Cendes Co., Ltd. (SZSE:300492) for CNY 1.4 billion on August 14, 2021. As per the offer, Huatu Hongyang Investment Co., Ltd. will acquire 29.22 million shares at CNY 48.32 per share in cash. Beijing Huatu Hongyang Education Culture Development Co., Ltd., holding shareholder of Huatu Hongyang Investment Co., Ltd. has approved the transaction.

On September 6, 2021, the shareholders' meeting of Huatu Hongyang Investment Co., Ltd. made a shareholder decision unanimously agreeing to the tender offer. Tender offer period is 30 days. The offer will expire on October 22, 2021.

Morgan Stanley Securities (China) Co., Ltd. and Jingtian & Gongcheng acted as financial and legal advisors to Huatu Hongyang Investment Co., Ltd. respectively. As on October 18, 2021,four shareholders accepted the offer.