Jiangsu Chuanzhiboke Education Technology (003032.SZ) plans to acquire a 51% stake in Furen Holdings to expand its international business map.

Jiangsu Chuanzhiboke Education Technology (003032.SZ) announced that its wholly-owned subsidiary in Singapore, Singapore Wei Xue, plans to acquire a total of 51% equity of FIS Holdings Pte. Ltd. (referred to as "Furen Holdings") owned by Li Wei and David Mok Kah Sing, using its own funds. Li Wei intends to transfer 45% of the equity to Singapore Wei Xue, while David Mok Kah Sing intends to transfer 6% of the equity to Singapore Wei Xue. The total transaction price is 15.3 million Singapore dollars. The announcement shows that Furen Holdings is headquartered in Singapore and has two wholly-owned subsidiaries, Furen International School and Yijia. Furen International School provides international Cambridge O-Level and A-Level courses, while Yijia provides student accommodation and dormitory management services. Furen Holdings has excellent education quality, strong faculty, and graduates are admitted to top global universities. It is a well-operating education group with standardized operation model and good financial condition. Through this acquisition, the company can further strengthen its presence in the education industry, expand into international business sectors, and combine with its existing resources and advantages to create synergies in business model, technology, management, and human resources. This will enhance the company's business scale and influence, enrich the construction of a multi-dimensional and multi-type education system, improve the company's market expansion capabilities and overall competitiveness, and take a new step towards building a diversified comprehensive education group.