Beijing Beida Jade Bird Universal Sci-Tech Company Limited (SEHK:8095) agreed to acquire 70% stake in Beijing Jade Bird Vocational Education Technology Development Co., Ltd. from Beijing Beida Jade Bird Education Management Company Ltd. for CNY 13.1 million on June 25, 2024. A cash consideration of CNY 13.05 million will be paid by Beijing Beida Jade Bird Universal Sci-Tech Company Limited. As part of consideration, CNY 13.05 million is paid towards common equity of Beijing Jade Bird Vocational Education Technology Development Co., Ltd. The transaction will be financed through equity investment of CNY 13.05 million.

For the period ending December 31, 2023, Beijing Jade Bird Vocational Education Technology Development Co., Ltd. reported net loss of CNY 5.96 million. As of December 31, 2023, Beijing Jade Bird Vocational Education Technology Development Co., Ltd. reported total assets of CNY 73.74 million and total common equity of CNY 15.65 million.

The transaction is subject to consummation of due diligence investigation.