China Chunlai previously announced that on December 15, 2021, the balance College of Suzhou University of Science and Technology and the seller (Gaochun Branch of Nanjing Municipal Bureau of Planning and Natural Resources) entered into an asset transfer agreement. Balance College will acquire the land use right of the target land from the seller to build and develop a new university. The new school is temporarily called "Nanjing School".

The board of directors believes that the target land located in Nanjing, Jiangsu Province can match the location of the balance College and will bring synergy benefits. The company intends to build a new university for Nanjing school on the target land, and believes that the sufficient capacity of the target land will provide a good foundation for the future development of Nanjing school.