About VIRSCEND EDU Company

The Group is a leading provider of formal private education services. The Group mainly conducts its business through 15 entities providing high school, higher education and non-academic education services in five cities in Sichuan Province, China, the Hong Kong Special Administrative Region, and Irvine in the United States. In the 2024-2025 school year, the total number of students enrolled in the Group's own schools was 34,307, including 9,609 students enrolled in high schools, 24,698 students enrolled in Chengdu Foreign Languages Institute (formerly known as Chengdu University of Sichuan Foreign Studies, the “University”) and 11,534 students enrolled in online schools, and we employed a total of 1,513 teachers in China. Additionally, the Group established VirscendUniversity. VirScendUniversity is located in Irvine, California (“California”), USA. VirscendUniversity obtained full accreditation from the WASC Council of Advanced Colleges and Universities (WSCUC) in March 2024. VirScendUniversity currently offers a Master of Business Administration program and a Bachelor of Business Administration program. We currently operate 9 high schools and 1 university in five cities in Sichuan Province, China. We provide formal education and comprehensive education courses through these schools. We are one of the few private education companies in southwest China providing high school and university education. The Group is committed to opening up Kangzhuang Avenue for aspiring students to advance to top domestic universities and well-known foreign institutions. All independent high schools in the Group and schools providing compulsory education (collectively referred to as “Chengshi Foreign Schools”) that have ceased comprehensive accounting since August 31, 2021 are independent legal entities, but they still operate under the same brand name as the “branch schools” of the two flagship schools, Chengdu Foreign Language School and Chengdu Experimental Foreign Language School. In the college entrance examination held in 2024 (“2024 college entrance examination”), about 89.2% (2023:89.7%) of flagship school graduates obtained scores that they could apply for and be promoted to top universities in China. Twenty-seven high school graduates received acceptance notices from Peking University or Tsinghua University (2023:24), while 82 high school graduates were sent to top universities (2023:83). In addition to flagship schools, about 80.9% (2023:77.8%) of graduates from the remaining Chengshi schools obtained points that can be applied for university admission in the 2024 college entrance examination. The Group has established international courses at various schools to provide students interested in attending overseas institutions and universities with Chinese/Overseas Standard High School Courses, Overseas Standard University Entrance Examination, Language Examination, or American University Advanced Placement (“AP”) courses. The relevant courses allow students to participate in overseas high school courses (taught by foreign teachers) and Chinese high school courses (taught by Chinese teachers). In 2024, an international high school graduate received an acceptance letter from Cornell University with honors, and a graduate was admitted as a graduate student at Peking University with the first place in the Russian language and literature major. In 2024 and 2023, 130 students and 168 students received acceptance notices from the QS World University Top 100 Universities respectively. The university currently offers 34 undergraduate programs and 28 diploma programs. In Wu Shulian's “Ranking of Independent Colleges and Private Universities in China” in 2024, the university ranked fourth in terms of Chinese literature among all 394 independent colleges and private universities. We have been operating private schools in Sichuan Province for over 20 years, and believe we have established a good reputation, which helps us attract outstanding students and teachers and achieve success. We intend to maintain and strengthen our market position in the private education industry in China.