(Note: This is an IPO of American Depositary Shares (ADS). Each ADS represents two of our ordinary shares.)

Since being established, we, together with the VIEs, have been committed to developing educational content to fulfill the massive demand for high quality professional development training resources in China. (Incorporated in the Cayman Islands)

We, together with the VIEs, started operations by providing educational content products and IT services to higher education institutions. After the initial growth period, our and the VIEs’ products and brand have gained increasing recognition and acceptance by both higher education institutions and the general public. We, together with the VIEs, then initiated end-user business and started providing products to individual customers, and acquired companies in Shanghai and Guangzhou to facilitate further expansion in the end-user market. Today, we and the VIEs are a leading provider of digital educational content in China. According to the Frost & Sullivan Report, we and the VIEs were the seventh largest digital content provider for higher education in China in terms of the revenue derived from providing digital content for higher education institutions in 2021, with revenues of RMB33.0 million representing a 1.1% market share. Leveraging our and the VIEs’ deep understanding into and rich experience in professional development training, as well as our and the VIEs’ strong curriculum development capabilities, we and the VIEs became the largest online career training services provider for higher education institutions in China in terms of revenue in 2021, with RMB32.6 million representing a market share of 66.4%, according to the Frost & Sullivan Report.

Since the beginning of 2019, the PRC Ministry of Education has issued a series of favorable policies to encourage talent development, aiming to consolidate high-quality online education resources, emphasize construction of innovative, comprehensive, and application-oriented curricula, and carry out extensive training in employability skills and employment and entrepreneurship training. At the same time, China’s online education market has maintained rapid growth in recent years. Moreover, with the impact of the COVID-19 pandemic in 2020, the Ministry of Education has promulgated policies to clearly encourage schools and educational institutions at various levels to conduct online teaching, which further promoted digital education and rapidly increased the penetration rate of online education. As such, the migration from offline education to online education has become a clear trend in China’s education industry. We and the VIEs have seized these market opportunities and established long-term and strategic business relationships with China’s leading telecommunications operators. We and the VIEs have leveraged the advantages of us and VIEs in vocational education and successfully established a synergistic and dynamic business system with educational content services as our and the VIEs’ backbone.

Leveraging our and the VIEs’ strong capabilities in developing proprietary professional development training content and success in consolidating educational content resources within the industry, we and the VIEs have successfully built up a comprehensive, multi-dimensional digital educational content database. As of Dec. 31, 2021, our and the VIEs’ educational content library consisted of more than 30,000 online videos and video courses totaling approximately 6,100 hours, of which more than 76.8% were self-developed. Our and the VIEs’ educational content database offers a wide range of professional development products, including employability skills and entrepreneurship guidance courses, professional skills training courses, skill improvement courses and professional certification quiz banks. We and the VIEs embed proprietary digital education content into the self-developed online learning platforms, which are provided to a wide range of customers through our and the VIEs’ omni-channel sales system.

**Note: Revenue and net income figures are in U.S. dollars (converted from Renminbi (RMB) ) for the year ended Dec. 31, 2021, according to the prospectus.

(Note: Jianzhi Education Technology Group Company Ltd. priced its IPO on Aug. 25, 2022, at $5.00 – the low end of its $5.00-to-$7.00 price range – on 5 million American Depositary Shares (ADS), the same number of ADS in the prospectus – to raise $25 million. The IPO was relaunched in mid-August. The final prospectus named Univest Securities as the sole book-runner; previously AMTD and Univest were joint-bookrunners, according to SEC filings.)

(Background: The IPO had been postponed on July 26, 2022. Jianzhi Education Technology Group Company Limited filed terms for its IPO – 5 million American Depositary Shares (ADS) at $5.00 to $7.00, according to an F-1/A filing dated July 6, 2022. Assuming mid-point pricing at $6.00, the IPO would raise $30 million. Jianzhi Education Technology Group Company Limited filed an F-1/A dated June 24, 2022, when it added Univest Securites as a joint book-runner, replacing Loop Capital Markets. The F-1 was filed July 13, 2021, after a confidential IPO filing on March 26, 2021.)