Cade Education: Zhongjing and Dao will become the controlling shareholders of the company.

Cord Education Announcement, May 21, 2025, the controlling shareholder and actual controller Wu Xianliang signed a "Share Transfer Agreement" with Shiyan Zhongjing He Dao Enterprise Management Partnership Enterprise. Wu Xianliang intends to transfer his 77.5843 million shares at a price of 14.72 yuan per share to Zhongjing He Dao, with a total price of 1.142 billion yuan. If this share transfer is implemented, Zhongjing He Dao will become the controlling shareholder of the company, and the Shiyan Municipal People's Government State-owned Assets Supervision and Administration Commission will become the actual controller. This share transfer requires approval from the State-owned Assets Supervision and Administration Department and compliance confirmation from the Shenzhen Stock Exchange.