Kode Education: The company's relationship with Zhonghao Xinying does not constitute a controlling relationship.

Cord Education announced on August 25th that in April 2023, the company invested a total of 130 million yuan in China Microchip Tech Co., Ltd. by way of capital increase and equity transfer. As of the date of this announcement, the company holds a 5.53% equity stake in China Microchip Tech, and does not have a controlling relationship with China Microchip Tech. It is not included in the consolidated financial statements and its profit does not have a significant impact on the company.