Lixiang Education Holding Co., Ltd. (NasdaqGM:LXEH) entered into a sponsorship interests transfer agreement to acquire Qingtian Overseas Chinese International School from Qingtian Zhongyi Education Investment Co., Ltd. for CNY 23 million on August 18, 2021. Consideration will be paid in cash.

Lixiang Education Holding Co., Ltd. (NasdaqGM:LXEH) completed the acquisition of Qingtian Overseas Chinese International School from Qingtian Zhongyi Education Investment Co., Ltd. on August 24, 2021. As of December 31, 2021, the total unpaid consideration was CNY 8 million, which will be paid in 1 year and was recorded in other payables.