Kaiyuan Education Technology Group Co., Ltd. announced that it has entered into a share subscription agreement with returning investor, Jiang Yong for not more than 52,000,000 A shares at a price of CNY 4.26 per share for gross proceeds of not more than CNY 221,520,000 on July 29, 2021. The shares cannot be transferred within 18 months from the issuance closing date. The transaction has been approved at the 17th meeting of the company’s 4th directorate and the 16th Meeting of the 4th supervisory board and is subject to the approvals of its shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.