Sansheng Intellectual Education Technology CO.,LTD. entered into Equity Transfer Agreement to acquire 51% equity of Malipo Tianxiong New Material Co., Ltd. from Hunan Dajia New Material Technology Co., Ltd. for CNY 500.31 million.

Sansheng Intellectual Education Technology CO.,LTD. (SZSE:300282) entered into Equity Transfer Agreement to acquire 51% equity of Malipo Tianxiong New Material Co., Ltd. from Hunan Dajia New Material Technology Co., Ltd. for CNY 500.31 million on November 20, 2022. Before the formal signing of the equity transfer agreement have signed the Letter of Intent for Equity Acquisition and the Sansheng Intellectual Education Technology CO.,LTD. has paid an intention fee of CNY 300 million. The payment for this equity transfer should be deducted from the paid intention fee, so the actual amount of the remaining equity transfer payment is CNY 200.31 million.

For the year ended, August 31, 2022, Malipo Tianxiong New Material Co., Ltd. total asset is CNY 404 million and owner equity is CNY 166 million. The transaction was approved by the third meeting of the sixth board of directors of the Sansheng Intellectual Education Technology CO.,LTD. (SZSE:300282) on October 30, 2022 and the fourth meeting of the sixth board of directors of the Sansheng Intellectual Education Technology CO.,LTD on November 20, 2022.