Shanghai Kaishuang Private Equity Fund Management Co., Ltd., managed by Huatai Securities (Shanghai) Asset Management Co., Ltd. signed the share transfer agreement to acquire a 4.46% stake in Offcn Education Technology Co., Ltd. (SZSE : 002607) from Lu Zhongfang for CNY 1.1 billion on December 9, 2022. The price of CNY 3.885 cash per share will be paid for 275 million shares of Offcn Education Technology. In a related transaction, Shanghai Tongyi Investment Management Co., Ltd., managed by Huatai Securities (Shanghai) Asset Management Co., Ltd. signed the share transfer agreement to acquire a 4.46% stake in Offcn Education Technology Co., Ltd. from Lu Zhongfang for CNY 1.1 billion on December 9, 2022. Following these disposals, Lu Zhongfang will be holding 14.94% stake in Offcn Education Technology. The transaction is subject to Shenzhen Stock Exchange approval.

Shanghai Kaishuang Private Equity Fund Management Co., Ltd., managed by Huatai Securities (Shanghai) Asset Management Co., Ltd. completed the acquisition of 4.46% stake in Offcn Education Technology Co., Ltd. (SZSE : 002607) from Lu Zhongfang on December 22, 2022.