On September 13, 2024, Chuanzhi Education (003032.SZ) announced that the company held the 21st meeting of the third board of directors and passed the resolution on the acquisition of 51% equity of FIS Holdings Pte. Ltd. by its wholly-owned subsidiary. In order to further enhance the company's layout in the education industry and expand its international business, the company's wholly-owned subsidiary in Singapore, Weixue Education Pte. Ltd. (hereinafter referred to as "Singapore Weixue"), signed a Share Purchase Agreement with Li Wei and David Mok Kah Sing on September 13, 2024, and intends to acquire a total of 51% equity of FIS Holdings Pte. Ltd. (hereinafter referred to as "Furen Holdings") held by Li Wei and David Mok Kah Sing with its own funds. Li Wei intends to transfer 45% of the equity to Singapore Weixue, and David Mok Kah Sing intends to transfer 6% of the equity to Singapore Weixue. The total transaction consideration is 15.3 million Singapore dollars (approximately 8,364.51 RMB yuan converted according to the exchange rate on the day of signing the contract, and the final RMB price is subject to the exchange rate on the settlement date). After the completion of this transaction, Furen Holdings will become a wholly-owned subsidiary of the company and will be included in the consolidated financial statements of the company.

Furen Holdings is headquartered in Singapore and has two wholly-owned subsidiaries, Furen International School Pte Ltd (hereinafter referred to as "Furen International School") and E-Jia Homestay Pte Ltd (hereinafter referred to as "E-Jia"). Furen International School provides international Cambridge O-level and A-level courses, while E-Jia provides student lodging and dormitory management support services. Furen Holdings has excellent education quality, strong faculty, and its graduates are accepted by renowned schools worldwide. It is an education group with standardized operation model and sound financial condition.