Aungar Education: plans to invest 5 million yuan to establish a wholly-owned subsidiary.

Everest Education Announcement: The company plans to invest 5 million yuan to establish a wholly-owned subsidiary - Shanghai Everest Excellent Cultural Development Co., Ltd. This establishment of the wholly-owned subsidiary has been approved by the company's president meeting and does not need to be submitted to the board of directors for approval. The establishment of the wholly-owned subsidiary does not involve related-party transactions, nor does it constitute a major asset restructuring as defined in the "Management Measures for Major Asset Restructuring of Listed Companies".