Nanchang Economic and Technological Development Zone Chinese Xushun Enterprise Management Partnershi completed the acquisition of 6.9% stake in Qtone Education Group Co.,Ltd from Zhongshan Fenghui Capital Management Co., Ltd., Quanding Capital Management Co., Ltd., Chen Chichang and Lin Xiaoya.
October 28, 2020
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Nanchang Economic and Technological Development Zone Chinese Xushun Enterprise Management Partnershi entered into a share transfer agreement to acquire 6.9% stake in Qtone Education Group (Guangdong) Co.,Ltd (SZSE:300359) from Zhongshan Fenghui Capital Management Co., Ltd., Quanding Capital Management Co., Ltd., Chen Chichang and Lin Xiaoya for approximately CNY 350 million on September 7, 2020. Under the terms of the transaction, Nanchang Economic will acquire 43.7 million shares in Qtone at an offer per share of CNY 8.
Nanchang Economic and Technological Development Zone Chinese Xushun Enterprise Management Partnershi completed the acquisition of 6.9% stake in Qtone Education Group (Guangdong) Co.,Ltd (SZSE:300359) from Zhongshan Fenghui Capital Management Co., Ltd., Quanding Capital Management Co., Ltd., Chen Chichang and Lin Xiaoya on October 29, 2020. Post completion, Nanchang Economic and Technological Development Zone Chinese Xushun Enterprise Management Partnershi holds 43.7 million shares equivalent to 6.8911% stake, Zhongshan Fenghui Capital Management Co., Ltd hold 0% stake, Quanding Capital Management Co., Ltd. hold 5.03% stake, Chen Chichang hold 13.7% stake and Lin Xiaoya hold 1.94% stake in Qtone Education Group (Guangdong) Co.,Ltd. Chen Chichang and concerted action parties have entrusted the voting rights corresponding to 105.32 million shares held by himto Nanchang Economic and Technological Development Zone Chinese Xushun Enterprise Management Partnership (Limited Partnership).
Qtone Education Group Guangdong Co Ltd is a China-based company mainly engaged in the provision of educational informatization and information services. The Company is mainly engaged in three businesses. The home-school interaction upgrade business provides basic information services, learning improvement services and family education guidance for children in the basic education stage through value-added services such as Power Plus Smart Campus, Growth Helper, Smart Sports, and Smart Psychology. The continuing education business provides systematic training platform construction, course content development, and training system construction services for in-service continuing education training for primary and secondary school teachers. The education informatization business mainly provides education informatization products.
Nanchang Economic and Technological Development Zone Chinese Xushun Enterprise Management Partnershi completed the acquisition of 6.9% stake in Qtone Education Group Co.,Ltd from Zhongshan Fenghui Capital Management Co., Ltd., Quanding Capital Management Co., Ltd., Chen Chichang and Lin Xiaoya.