On December 31, 2023, a significant filing was made with the United States Securities and Exchange Commission by New Oriental Education & Technology Group Inc., a leading educational services provider. The Schedule 13G amendment disclosed that Tigerstep Developments Limited and Michael Minhong Yu, the executive chairman of New Oriental, collectively hold a substantial portion of the company's common shares. Tigerstep Developments Limited, a British Virgin Islands entity wholly owned by Michael Minhong Yu, reported ownership of 198,385,540 common shares, representing 12.0% of the class. Michael Minhong Yu individually holds 199,072,160 common shares, also amounting to 12.0% of the class. The filing, dated February 7, 2024, indicates that through a trust arrangement, Michael Minhong Yu and his family have a beneficial interest in Tigerstep Developments Limited. As per the SEC regulations, Michael Minhong Yu may be deemed to beneficially own all shares held by Tigerstep Developments Limited.

On December 31, 2023, a significant filing was made with the United States Securities and Exchange Commission by New Oriental Education & Technology Group Inc., a leading educational services provider. The Schedule 13G amendment disclosed that Tigerstep Developments Limited and Michael Minhong Yu, the executive chairman of New Oriental, collectively hold a substantial portion of the company's common shares. Tigerstep Developments Limited, a British Virgin Islands entity wholly owned by Michael Minhong Yu, reported ownership of 198,385,540 common shares, representing 12.0% of the class. Michael Minhong Yu individually holds 199,072,160 common shares, also amounting to 12.0% of the class. The filing, dated February 7, 2024, indicates that through a trust arrangement, Michael Minhong Yu and his family have a beneficial interest in Tigerstep Developments Limited. As per the SEC regulations, Michael Minhong Yu may be deemed to beneficially own all shares held by Tigerstep Developments Limited.