Suzhou Kingswood Education Technology Co., Ltd. (SZSE:300192) entered into n agreement to acquire 60% stake in Henan Maotan Senior High School Co., Ltd. from Hangzhou Chaolin Education Technology Co., Ltd. for CNY 30 million on March 19, 2021. On the day of submission and acceptance of the industrial and commercial application materials for Henan Maotan Senior High School's equity change, Suzhou Kingswood Education Technology shall pay CNY 10 million, within one week after the transfer materials are confirmed by all parties, Suzhou Kingswood Education Technology will pay CNY 17 million and according to the operating needs of Henan Maotan Senior High School, Suzhou Kingswood Education Technology will then choose the opportunity to invest CNY 3 million. After the foregoing payment is fully realized, Suzhou Kingswood Education Technology holds 60% stake and Hangzhou Chaolin Education Technology Co., Ltd. holds 40% stake in Henan Maotan Senior High School. When the net profit of Henan Maotan Senior High School exceeds CNY 10 million, Suzhou Kingswood Education Technology will purchase part of the remaining shares of Henan Maotan Senior High School held by Hangzhou Chaolin Education Technology, and the specific purchase ratio and terms shall be separately agreed by both parties. The transaction has been approved by Suzhou Kingswood Education Technology's Chairman.