Document:

EX-10.6

 Exhibit 10.6 

Equity Pledge Agreement 
 This Equity
Pledge Agreement (hereinafter referred to as the “Agreement”) is entered into on December 13, 2018 by and among: 
  

	 	A.	 The shareholders of Long-Spring Education Holding (see Appendix I hereto for details, hereinafter referred to
as the “Shareholders of Long-Spring Education Holding” or the “Pledgers”); 

  

	 	B.	 Long-Spring Education Holding Group Limited (hereinafter referred to as “Long-Spring Education
Holding”), a limited liability company legally established and existing under the PRC laws, with its unified credit code of 91530121582368402N, and its registered address at No. 5-20, 9/F,
Building 2, Shanghai ASEAN Building, Chenggong District, Kunming City, Yunnan Province; and 

  

	 	C.	 Yunnan Century Long-Spring Technology Co., Ltd., a wholly foreign-owned enterprise legally established and
existing under the PRC laws, with its unified credit code of 91530100MA6K83075A and its registered address at No. 5-20, 9/F, Building 2, Shanghai ASEAN Building, Chenggong District, Kunming City, Yunnan
Province (hereinafter referred to as the “Pledgee” or “WFOE”). 

 (The parties above
shall be hereinafter referred to individually as a “Party”, or collectively as the “Parties”) 

Whereas 
  

	 	1.	 The Pledgers are the registered shareholders of Long-Spring Education Holding, who hold 100% of the equity of
Long-Spring Education Holding in total (corresponding to a registered capital of RMB25,000,000). 

  

	 	2.	 In accordance with the provisions of the Series of Cooperation Agreements, the Domestic Affiliates (as defined
below) in which the Pledgers directly and/or indirectly hold interests shall pay management and consulting service fees, technical service fees and other expenses to the Pledgee in accordance with relevant agreement and perform related obligations.

	 	3.	 As a security for the performance of the contractual obligations (as defined below) and the settlement of the
guaranteed debts (as defined below) by the Domestic Affiliates and the Pledgers, the Pledgers unconditionally and irrevocably agree to pledge all the equity held by them in Long-Spring Education Holding to the Pledgee, and grant the Pledgee the
first priority pledge right, and Long-Spring Education Holding also agrees to such equity pledge arrangements. 

Accordingly, through friendly negotiation, the Parties agree as follows: 

 

	I.	 Definitions and Interpretations 

“Proposed Listed Company” means First High-School Education Group Co., Ltd., a limited company incorporated under the laws of
the Cayman Islands on September 19, 2018. 
 “Long-Spring Education Holding” means Long-Spring Education Holding Group
Limited, a limited company incorporated on September 20, 2011 under the PRC laws. 
 “Domestic Affiliates” means
Long-Spring Education Holding and its subsidiaries and schools. 
 “Business Cooperation Agreement” means the Business
Cooperation Agreement entered into by the Pledgee, the Domestic Affiliates and the shareholders of Long-Spring Education Holding on the date of execution of the Agreement, including its amendments from time to time. 

“Exclusive Call Option Agreement” means the Exclusive Call Option Agreement entered into by the Pledgee, the Domestic
Affiliates and the shareholders of Long-Spring Education Holding on the date of execution of the Agreement, including its amendments from time to time. 

“Exclusive Technical Service and Management Consultancy Agreement” means the Exclusive Technical Service and Management
Consultancy Agreement entered into by the Pledgee and the Domestic Affiliates on the date of execution of the Agreement, including its amendments from time to time. 

“Series of Cooperation Agreements” collectively refers to the Business Cooperation Agreement, the Exclusive Call Option
Agreement, the Shareholders’ Rights Entrustment Agreement and the corresponding Power of Attorney, the School Sponsors’ and Directors’ Rights Entrustment Agreement and the corresponding Power of Attorney, the Equity Pledge Agreement,
the Exclusive Technical Service and Management Consultancy Agreement, and the Loan Agreement, signed by two or more of the shareholders of Long-Spring Education Holding, the Domestic Affiliates and WFOE, including the amendments thereto, and other
agreements, contracts, or legal documents that are signed or issued by one or more Parties hereto from time to time to ensure performance of the above agreements and that are signed or approved by WFOE in writing. 

  
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 “Contractual Obligations” means the obligations of the Pledgers and the
Domestic Affiliates under the Series of Cooperation Agreements (with the exception where relevant agreement/agreements is/are rescinded or relevant obligation/obligations is/are waived by the counterparty). 

“Default Event” means any of the following events: the Pledgers and the Domestic Affiliates are in breach of their Contractual
Obligations under the Series of Cooperation Agreements, and any representations and warranties made or other information provided by the Pledgers and the Domestic Affiliates to the Pledgee under the Series of Cooperation Agreements are or are proven
to be false or misleading in any material respect, or any provisions of the Series of Cooperation Agreements become invalid or unenforceable due to the changes in the PRC laws and regulations, or due to the promulgation of new PRC laws and
regulations, or due to any other reasons, and no alternative arrangement therefor is found by the Parties. 
 “Guaranteed
Debts” means all direct, indirect, derivative losses and loss of predictable benefits suffered by the Pledgee as a result of any Default Event on the part of the Pledgers and the Domestic Affiliates (if otherwise provided for in the
specific Series of Cooperation Agreements, such provisions shall prevail), and all expenses incurred by the Pledgee to force the Pledgers and the Domestic Affiliates to perform their Contractual Obligations. The amount of such losses shall be
determined by the Pledgee at its absolute discretion is permitted by the PRC laws, and the Pledgers shall be completely bound thereby. 

“Pledged Equity” means the equity and interests legally owned by the Pledgers in Long-Spring Education Holding as of the
effective date of the Agreement and pledged to the Pledgee in accordance with the provisions of the Agreement as a security for the performance of the Contractual Obligations by the Pledgers and the Domestic Affiliates, including but not limited to
the equity rights, interests, income and claims, now and in the future, related to all the equity held by the Pledgers in the Long-Spring Education Holding, and the receivables and compensations, now or in the future, related to the equity held by
Pledgers in Long-Spring Education Holding Equity, and the profits, dividends and other amounts distributed by Long-Spring Education Holding to the Pledgers, and the increased capital contribution and dividends as described in Clause 5 of Article II
of the Agreement. 
  

	II.	 Equity Pledge 

 

	 	1.	 The Pledgers unconditionally and irrevocably agree to pledge the Pledged Equity that they legally own and have
the right to dispose of to the Pledgee in accordance with the provisions of the Agreement as a security for performance of the Contractual Obligations and settlement of Guaranteed Debts. Long-Spring Education Holding agrees that the Pledgers pledge
the Pledged Equity to the Pledgee and give the Pledgee the first priority pledge right in accordance with the Agreement. 

  
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	 	2.	 The Pledgers undertake that they will be responsible for recording the equity pledge arrangements (hereinafter
referred to as the “Equity Pledge”) in the register of the shareholders of Long-Spring Education Holding when the pledge registration conditions are met, and will register the Equity Pledge with the industrial and commercial
registration authority as soon as possible when the pledge registration conditions are met, and assume all related costs. Long-Spring Education Holding undertakes that it will do its best to cooperate with the Pledgers to complete the business
registration matters specified in this Article. 

  

	 	3.	 The Parties confirm that, in the case that the competent industrial and commercial registration authority
requires that the principal claim amount involved in the guarantee scope be clearly specified in the equity pledge registration, for the purpose of registering the Equity Pledge alone, the Parties agree to register the claim amount under the series
of cooperation agreement as the amount of all and any liabilities for breach of contract and compensation for damages under the Series of Cooperation Agreements. 

 

	 	4.	 The Equity Pledge under the Agreement shall take effect from the date of registration with the industrial and
commercial registration authority of Long-Spring Education Holding, and continue to be valid until the Series of Cooperation Agreements have been completed, expired or terminated (whichever is later). 

 

	 	5.	 Where there is any possibility of a significant reduction in the value of the Pledged Equity, which is
sufficient to impair the rights of the Pledgee, the Pledgee may at any time auction or sell the Pledged Equity on behalf of the Pledgers, and agree with the Pledgers to use the proceeds of the auction or sale for prepayment the Guaranteed Debts or
deposit the proceeds with the notary office where the Pledgee is located (any costs incurred thereby shall be assumed by the Pledgers). 

  

	 	6.	 In the case of occurrence of any Default Event, the Pledgee shall have the right to dispose of the Pledged
Equity in the manner prescribed in Article IV of the Agreement. 

  

	 	7.	 With the prior written consent of the Pledgee, the Pledgers may increase the capital of Long-Spring Education
Holding. The Pledgers irrevocably agree and confirm that the increased contribution to Long-Spring Education Holding due to such capital increase also belongs to the Pledged Equity, and undertake to complete the Equity Pledge registration therefor
as soon as possible. 

  
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	III.	 Release of Pledge 

 

	 	1.	 After the Pledgers and the Domestic Affiliates have fully and completely performed all their Contractual
Obligations, the Pledgee shall, at the request of the Pledgers, release this pledge, and shall cooperate with the Pledgers in canceling the Equity Pledge’s registration in the register of shareholders of Long-Spring Education Holding and the
Equity Pledge registration with the competent industrial and commercial registration authority, and the reasonable expenses incurred thereby shall be assumed by the Pledgers. 

 

	IV.	 Disposal of Pledged Equity 

 

	 	1.	 The Pledgers, Long-Spring Education Holding and the Pledgee agree that in the case of any Default Event, the
Pledgee shall have the right to exercise all of its remedies for default under the laws and regulations of China and the provisions of the Series of Cooperation Agreements after giving the Pledgers a written notice, and have the right to deal with
the Pledged Equity by one or more of the following means: 

  

	 	a)	 Subject to the requirements of the laws and regulations of China, the Pledgers, at the request of the Pledgee,
transfer to Pledgee and/or any other entity or individual designated by the Pledgee all or part of the Pledged Equity held the Pledgers in Long-Spring Education Holding at the lowest price permitted by the PRC laws; the Pledgers also irrevocably
undertake that if the consideration for the Pledgee or the purchaser designated by it to purchase all or part of the equity held by the Pledgers in Long-Spring Education Holding is more than RMB0 (say: RMB ZERO Yuan only), the difference will be
jointly and severally paid in full by the Pledgers to the Pledgee or its designated subject. 

  

	 	b)	 The Pledgee sells the Pledged Equity through auction or at a discount, and is compensated in priority with the
sales proceeds; 

  

	 	c)	 Subject to compliance with the laws and regulations, the Pledgee disposes of the Pledged Equity in other
methods as agreed by the Pledgers and the Pledgee. 

  

	 	2.	 The Pledgee shall have the right to designate its lawyer or other agent in writing to exercise any and all of
its rights, and the Pledgers or Long-Spring Education Holding shall not raise any objection thereto. 

  
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	 	3.	 The Pledgee shall have the right to deduct from the proceeds obtained from the exercise of its rights the
reasonable expenses incurred in exercising any or all of such rights. 

  

	 	4.	 The proceeds obtained by the Pledgee in exercising its rights shall be processed in the following order:

 Firstly, pay all the costs (including the remuneration paid to its lawyers and agents) arising from the disposal of the
Pledged Equity and the exercise of the rights of the Pledgee; 
 Secondly, pay taxes and fees payable for disposing of Pledged Equity; and

 Thirdly, repay the Guaranteed Debts to the Pledgee; 

The Pledgee shall return the balance, if any, after deducting the above amounts, to the Pledgers. 

 

	 	5.	 The Pledgee shall have the right to choose to exercise any or all of the remedies for default it may have
simultaneously or successively. The Pledgee is not required to exercise other remedies for default before exercising the auction or sale of the Pledged Equity under the Agreement. 

 

	V.	 Costs and Expenses 

 

	 	1.	 All actual expenses related to the establishment of the Equity Pledge under the Agreement, including but not
limited to stamp duty, any taxes and legal fees, shall be assumed by the Pledgers. 

  

	VI.	 Continuity and Non-Waiver 

 

	 	1.	 The Equity Pledge established under the Agreement is a continuous security, and its validity shall continue
until the Contractual Obligations are fully performed or the Guaranteed Debts are fully settled. Long-Spring Education Holding and the Pledgers shall take all actions to ensure that the Equity Pledge’s registration will continue to be valid
during this period. The Pledgee’s waiver of any default by the Pledgers or the Pledgee’s delay in exercising any of its rights under the Series of Cooperation Agreements shall not impair the Pledgee’s right to request the Pledgers,
the Domestic Affiliates at any time in the future in accordance with the series of cooperation agreement to perform the Series of Cooperation Agreements or the rights that the Pledgee shall have due to the subsequent default of the Series of
Cooperation Agreements by the Pledgers or the Domestic Affiliates. 

  
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	VII.	 Representations and Warranties of the Pleaders 

The Pledgers represent and warrant to the Pledgee as follows: 
  

	 	1.	 The Pledgers have full capacity to execute the Agreement in accordance with laws and assume legal obligations
under the Agreement. 

  

	 	2.	 Long-Spring Education Holding is a limited liability company duly established and validly existing in
accordance with the PRC laws, has been formally registered with the competent industrial and commercial administration. The registered capital of Long-Spring Education Holding is RMB25 million. 

 

	 	3.	 All reports, documents, and information provided, before the Agreement takes effect, by the Pledgers to the
Pledgee regarding the Pledgers and all matters required by the Agreement are true, accurate and complete in all material aspects as at the time of entry into force of the Agreement. 

 

	 	4.	 All reports, documents, and information provided, after the Agreement takes effect, by the Pledgers to the
Pledgee regarding the Pledgers and all matters required by the Agreement will be true, accurate and complete in all material aspects at the time of provision. 

 

	 	5.	 When the Agreement takes effect, the Pledgers are the sole legal owners of the Pledged Equity and have the
right to dispose of the Pledged Equity. There is no dispute over the ownership of the Pledged Equity. 

  

	 	6.	 Except for the encumbrances that have been disclosed to WFOE in accordance with the laws and the right
restrictions created under the Series of Cooperation Agreements, there is no other security interest or encumbrance on the Pledged Equity. 

  

	 	7.	 The Pledgers’ execution and performance of the Agreement and the Pledgers’ holding of the equity in
Long-Spring Education Holding do not violate (i) any applicable laws, rules or judicial orders; (ii) any court’s judgment, or any arbitral agency’s award, or any administrative authority’s decision, approval, license; or
(iii) any agreement or document binding on the Pledgers or their assets or creating a mortgage on their assets, nor result in suspension, revocation, confiscation or failure of renewal of any government authority’s approval or license
applicable to them. 

  

	 	8.	 The Pledged Equity can be legally pledged and transferred, and the Pledgers have sufficient rights and powers
to pledge the Pledged Equity to the Pledgee in accordance with the provisions of the Agreement. 

  
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	 	9.	 The Agreement, after being executed by the Pledgers, constitutes a legal, valid and binding obligation of the
Pledgers. 

  

	 	10.	 Any consent, permission, waiver, authorization of any third party required for the execution and performance of
the Agreement and for the pledge of equity under the Agreement have been obtained or processed, and will be fully valid during the term of the Agreement. 

  

	 	11.	 The pledge under the Agreement constitutes the first order security interest in the Pledged Equity.

  

	 	12.	 There aren’t any pending or, to the knowledge of the Pledgers, threatening, lawsuits, legal proceedings or
claims in any courts, arbitral tribunals, government authorities or administrative authorities against the Pledgers or their assets or the Pledged Equity, which may have an adverse effect on the financial position of the Pledgers or on their ability
to perform their obligations under the Agreement. 

  

	 	13.	 The Pledgers assure the Pledgee that the representations and warranties above will be true, accurate and
complete at any time and in any circumstances before the Contractual Obligations are fully performed or the Guaranteed Debts are fully settled, and will be completely complied with. 

 

	VIII.	 Representations and Warranties of Long-Spring Education Holding 

Long-Spring Education Holding represents and warrants to the Pledgee as follows: 

 

	 	1.	 Long-Spring Education Holding is a limited liability company duly incorporated and validly existing in
accordance with the PRC laws. It has independent legal personality; it has full and independent legal status and legal capacity to execute, deliver and perform the Agreement, and can independent be a subject of litigation. 

 

	 	2.	 All reports, documents, and information provided, before the Agreement takes effect, by Long-Spring Education
Holding to the Pledgee regarding the Pledged Equity and all matters required by the Agreement are true, accurate and complete in all material aspects as at the time of entry into force of the Agreement. 

 

	 	3.	 All reports, documents, and information provided, after the Agreement takes effect, by Long-Spring Education
Holding to the Pledgee regarding the Pledged Equity and all matters required by the Agreement will be true, accurate and complete in material aspects at the time of provision. 

  
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	 	4.	 The Agreement, after being executed by Long-Spring Education Holding, constitutes a legal, valid and binding
obligation of Long-Spring Education Holding. 

  

	 	5.	 Long-Spring Education Holding has full internal rights, powers and authorities to execute and deliver the
Agreement and all other documents related to the transaction described in the Agreement and to be executed, and it has full rights, powers and authorities to complete the transactions described in the Agreement. Any and all consents, permissions,
waivers, authorizations of any third parties required for the execution and performance of the Agreement and for the pledge of equity under the Agreement have been obtained or processed, and will be fully valid during the term of the Agreement.

  

	 	6.	 Long-Spring Education Holding’s execution and performance of the Agreement does not violate (i) any
applicable laws, rules or judicial orders; (ii) any court’s judgment, or any arbitral agency’s award, or any administrative authority’s decision, approval, license; or (iii) any agreement or document binding on Long-Spring
Education Holding or its assets or creating a mortgage on its assets, nor result in suspension, revocation, confiscation or failure of renewal of any government authority’s approval or license applicable to it. 

 

	 	7.	 There aren’t any pending or, to the knowledge of Long-Spring Education Holding, threatening, lawsuits,
legal proceedings or claims in any courts, arbitral tribunals, government authorities or administrative authorities against Long-Spring Education Holding or its assets, which may have an adverse effect on the financial position of Long-Spring
Education Holding or on the Pledgers’ ability to perform their obligations under the Agreement and their guarantee liabilities. 

  

	 	8.	 Long-Spring Education Holding assures the Pledgee that the representations and warranties above will be true,
accurate and complete at any time and in any circumstances before the Contractual Obligations are fully performed or the Guaranteed Debts are fully settled, and will be completely complied with. 

 

	IX.	 Undertakings of the Pledgers 

The Pledgers undertake to the Pledgee as follows: 
  

	 	1.	 Without the prior written consent of the Pledgee, the Pledgers shall not create any new pledge or encumbrance
on the Pledged Equity, nor create or allow to create any new pledge or other encumbrance/restriction on the interests directly and/or indirectly held by them in the Domestic Affiliates. 

 

	 	2.	 Without giving a prior written notice to the Pledgee and obtaining the prior written consent of the Pledgee,
the Pledgers will not transfer the Pledged Equity, and all acts of the Pledgers’ intending to transfer the Pledged Equity are invalid. Regardless of the Pledgee’s prior written consent, the corresponding amount that the Pledgers should
receive from any third party for the transfer of the Pledged Equity shall belong to the Pledgee. The Pledgee has the right to directly request the third party to pay the corresponding amount, and the Pledgers shall provide all necessary assistance
therein. 

  
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	 	3.	 When there is any legal action, arbitration or other claims that may adversely affect the interests of the
Pledgers or the Pledgee under the Series of Cooperation Agreements or the Pledged Equity, the Pledgers warrant that they will notify the Pledgee in writing as soon as possible and in time and take all necessary measures to ensure the Pledgee’s
pledge interest in the Pledged Equity at the reasonable request of the Pledgee. 

  

	 	4.	 The Pledgers shall not perform or allow any acts or actions that may adversely affect the interests of the
Pledgee under the Series of Cooperation Agreements or the Pledged Equity. The Pledgers waive the right of first refusal when the Pledged Equity is realized by the Pledgee, and agree to relevant transfer of equity. 

 

	 	5.	 The Pledgers warrant to take all necessary measures and sign and execute all necessary documents (including but
not limited to the supplementary agreement of the Agreement) at the reasonable request of the Pledgee, so as to ensure the Pledgee’s pledge interest in the Pledged Equity and the exercise and realization of these rights. 

 

	 	6.	 Where the exercise of the pledge rights under the Agreement gives rise to any transfer of the Pledged Equity,
the Pledgers warrant to take all measures to realize such equity transfer. 

 As the direct and/or indirect equity owners
of the Domestic Affiliates, the Pledgers further undertake as follows: 
  

	 	1.	 From the date of execution of the Agreement, without the prior written consent of the Pledgee, the Pledgers
shall not sell, assign, transfer, or otherwise dispose of the interests directly and/or indirectly held by them in the Domestic Affiliates, nor create any encumbrances, at any time from the date of execution of the Agreement, on the interests
directly and/or indirectly held by them in the Domestic Affiliates; regardless of the Pledgee’s prior written consent, the corresponding amount that the Pledgers should receive from any third party for selling, assigning, transferring or
disposing of the interests directly and/or indirectly held by them in the Domestic Affiliates shall belong to the Pledgee. The Pledgee has the right to directly request the third party to pay the corresponding amount, and the Pledgers shall provide
all necessary assistance therein; 

  
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	 	2.	 Without the prior written consent of the Pledgee, the Pledgers shall not increase or decrease the registered
capital of the Domestic Affiliates or the sponsor’s contribution, nor agree to such increase or decrease in the registered capital or the sponsor’s contribution; 

 

	 	3.	 Without the prior written consent of the Pledgee, the Pledgers shall not agree or procure the division of the
Domestic Affiliates or merger with other entities; 

  

	 	4.	 Without the prior written consent of the Pledgee, the Pledgers shall not dispose of or procure the management
of the Domestic Affiliates to dispose of any assets of the Domestic Affiliates, with the exception where the Domestic Affiliates can prove that the disposal of relevant assets is necessary in the ordinary course of business and the value of the
assets involved in a single transaction is not more than RMB100,000; 

  

	 	5.	 Without the prior written consent of the Pledgee, the Pledgers shall not terminate or procure the management of
the Domestic Affiliates to terminate any material agreements entered into by the Domestic Affiliates, nor enter into any other agreement that conflicts with any existing material agreements. The aforesaid “material agreements” refer to the
agreements with single total value of more than RMB100,000, or the Series of Cooperation Agreements and/or any agreements similar in nature or content to the Series of Cooperation Agreements; 

 

	 	6.	 Without the prior written consent of the Pledgee, the Pledgers shall not procure the Domestic Affiliates to
conclude transactions that may materially affect the assets, responsibilities, business operations, equity structure and other legal rights of the Domestic Affiliates (with the exception of those that are produced in the ordinary course of business
of the Domestic Affiliates and with a single transaction amount not more than RMB100,000, or that have been disclosed to the Pledgee and consented to by the Pledgee in writing); 

 

	 	7.	 Without the prior written consent of the Pledgee, the Pledgers shall not procure or agree with the Domestic
Affiliates to announce the distribution of or actually distribute any distributable profits and/or reasonable returns, nor agree to the such distribution; any profits and/or reasonable returns distributed as a result of default of the foregoing
provisions shall belong to the Pledgee unconditionally and free of charge from the beginning, and the Pledgee shall have the right to require the full refund/payment by the Pledgers in accordance with the laws; 

 

	 	8.	 Without the prior written consent of the Pledgee, the Pledgers shall not procure or agree to modify the
articles of association of the Domestic Affiliates; 

  
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	 	9.	 Without the prior written consent of the Pledgee, the Pledgers shall ensure that the Domestic Affiliates will
not lend or borrow loans, nor provide guaranty or make other forms of guaranty, nor assume any major obligation outside normal business activities; the aforesaid “major obligation” means any obligation that a Domestic Affiliate must pay
more than RMB100,000, or the obligation to restrict and/or prevent the Domestic Affiliates from performing the obligations under the Series of Cooperation Agreements normally, or the obligation to restrict and/or prohibit the financial and business
operations of the Domestic Affiliates, or any obligation that may cause changes in the equity structure of the Domestic Affiliates; 

  

	 	10.	 The Pledgers shall do their utmost to develop the business of the Domestic Affiliates and guarantee the legal
and compliant operations of the Domestic Affiliates, and shall not have any acts or omissions that may impair the assets, goodwill of the Domestic Affiliates or affect the validity of the operating licenses of the Domestic Affiliates;

  

	 	11.	 Before transferring the interests of the Domestic Affiliates to the Purchasers of Domestic Affiliates’
Interests (as defined in the Exclusive Call Option Agreement), the Pledgers shall sign all documents required for their owning and maintaining the interests of the Domestic Affiliates, provided that such act will not affect the Shareholders’
Rights Entrustment Agreement and the School Sponsors’ and Directors’ Rights Entrustment Agreement; 

  

	 	12.	 The Pledgers shall sign all documents and take all actions required to transfer the interests of the Domestic
Affiliates to the Purchasers of Domestic Affiliates’ Interests; 

  

	 	13.	 In the case that it is required for the Pledgers to take any actions as the direct and/or indirect owners of
the interests of the Domestic Affiliates so as to perform the obligations under the Series of Cooperation Agreements by the Domestic Affiliates, the Pledgers shall take all such actions to cooperate with the Domestic Affiliates to perform the
obligations hereunder; 

  

	 	14.	 Within their authorities as the direct and/or indirect owners of the interests of the Domestic Affiliates,
without impairing the Series of Cooperation Agreements, the Pledgers shall procure the directors appointed by them to exercise all rights in the Domestic Affiliates in accordance with the provisions of the Agreement so that the Domestic Affiliates
can perform their obligations under the Agreement; in the case of any director’s failure to exercise the rights in accordance with the above requirements, the Pledgers shall dismiss and replace the director immediately; and

  
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	 	15.	 The Pledgers shall provide the Pledgee with the financial statements of the Domestic Affiliates in the previous
calendar quarter, including (but not limited to) the balance sheet, profit statement and cash flow statement, within the first month of each calendar quarter. 

 

	X.	 Undertakings of Long-Spring Education Holding 

As the subject company where the Pledged Equity is located, Long-Spring Education Holding undertakes to the Pledgee as follows: 

 

	 	1.	 Without the prior written consent of the Pledgee, Long-Spring Education Holding shall not assist or allow the
Pledgers to create any new pledge or any other encumbrance/restriction on the Pledged Equity, nor assist or allow the Pledgers to create any new pledge or any other encumbrance/restriction on the interests directly and/or indirectly held by them in
the Domestic Affiliates. 

  

	 	2.	 Without the prior written consent of the Pledgee, Long-Spring Education Holding shall not assist or allow the
Pledgers to transfer the Pledged Equity, nor assist or allow the Pledgers to transfer the interests directly and/or indirectly held by them in the Domestic Affiliates. 

 

	 	3.	 When there is any legal action, arbitration or other claims that may adversely affect the interests of the
Pledgee under the Series of Cooperation Agreements or the Pledged Equity, Long-Spring Education Holding warrants that it will notify the Pledgee in writing as soon as possible and in time and take all necessary measures to ensure the Pledgee’s
pledge interest in the Pledged Equity at the reasonable request of the Pledgee. 

  

	 	4.	 Long-Spring Education Holding shall not perform or allow any acts or actions that may adversely affect the
interests of the Pledgee under the Series of Cooperation Agreements or the Pledged Equity. 

  

	 	5.	 Long-Spring Education Holding warrants to take all necessary measures and sign and execute all necessary
documents (including but not limited to the supplementary agreement of the Agreement) at the reasonable request of the Pledgee, so as to ensure the Pledgee’s pledge interest in the Pledged Equity and the exercise and realization of these
rights. 

  

	 	6.	 Where the exercise of the pledge rights under the Agreement gives rise to any transfer of the Pledged Equity,
Long-Spring Education Holding warrants to take all measures to realize such equity transfer. 

  

	XI.	 Changes of Circumstances 

 

	 	1.	 Without contravention with other provisions of the Series of Cooperation agreements, due to the promulgation or
amendment of any laws, regulations or rules of the PRC, or due to changes of the interpretation or applicability of such laws, regulations or rules, or due to changes of the relevant registration procedures, the Pledgee holds that keeping the
validity of the Agreement and/or disposing of the Pledged Equity in the manner specified in the Agreement becomes illegal or contrary to such laws, regulations or rules, the Pledgers and the shareholders of Long-Spring Education Holding shall, as
instructed by the Pledgee in writing and at the reasonable request of the Pledgee, take any action and/or sign any agreement or other document immediately to: 

  
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	 	a)	 keep the Agreement valid; 

 

	 	b)	 dispose of the Pledged Equity in the manner specified in the Agreement; and/or 

 

	 	c)	 maintain or realize the guarantee created or intended to create under the Agreement. 

 

	XII.	 Effectiveness and Term of the Agreement 

 

	 	1.	 The Agreement comes into effect as of the date of signing by the Parties hereto. 

 

	 	2.	 The Agreement will continue to be valid until the Contractual Obligations are fully performed or the Guaranteed
Debts are fully settled. Where a Party’s business period expires within the term of the Agreement, the Party shall be obliged to apply to the competent authority for an extension of the business period in a timely manner and shall ensure that
it will have obtained the business license with an extended business period before the original business period expires. The Pledgee may terminate the Agreement unilaterally by serving a thirty (30) days’ prior notice. Unless otherwise
provided by law, in no case shall Long-Spring Education Holding or the Pledgers have the right to unilaterally terminate or rescind the Agreement. 

  

	XIII.	 Confidentiality 

 

	 	1.	 The Parties hereby acknowledge and determine that any oral or written information exchanged between them in
connection with the Agreement is confidential. Each Party shall keep all such information confidential, and shall not disclose any relevant information to any third party without the written consent of the other Parties, except:

  

	 	a)	 the public is aware of or will become aware of such information (not as a result of unauthorized disclosure to
the public by the party who receives the information); 

  

	 	b)	 the information is disclosed as required by applicable laws and regulations or the rules or regulations
governing the transactions of securities; or 

  
 14 

	 	c)	 the information needs to be disclosed by a Party to its legal or financial adviser in connection with the
transactions hereunder, provided that such legal or financial adviser is also subject to confidentiality obligations similar with this article. 

  

	 	2.	 The leakage of the information by the staff of a Party or the agency recruited by the Party shall be deemed to
be the leakage committed by the Party, and the Party shall be liable for breach of contract in accordance with the Agreement. 

  

	 	3.	 The Parties agree that the confidentiality provisions in this Article XIII shall survive regardless of whether
the Agreement is invalid, changed, rescinded, terminated, or non-operable. 

  

	XIV.	 Force Majeure 

 

	 	1.	 In the event of a force majeure event preventing the Parties from performing their respective obligations under
the Agreement, such affected liabilities will be relieved to the extent of force majeure. For the purpose of the Agreement, force majeure events include only natural disasters, storms, tornadoes and other weather conditions, strikes, factory
closedown/work stoppages or other industry problems, riots, conspiracies, acts of hostilities, acts of terrorism, or violence of criminal organizations, severe illness or plagues, earthquakes or other crustal movements, floods and other natural
disasters, bomb explosions or other explosions, fires, accidents, or government actions, which lead to failure of performing the Agreement. 

  

	 	2.	 When a force majeure event occurs, the Party affected by the force majeure event shall make every effort to
reduce and remove the impact of the force majeure event, and shall undertake the delayed and impeded obligations under the Agreement. After the force majeure event is lifted, the Parties agree to make every effort to continue to perform the
Agreement. 

  

	 	3.	 If there is a possible force majeure event that causes delay or impeding of the Agreement or threatens to delay
or impede the performance of the Agreement, the Party concerned shall immediately notify the other Parties in writing and provide all relevant information. 

  

	XV.	 Miscellaneous 

 

	 	1.	 To the extent as permitted by the PRC laws, the Pledgee may transfer its rights and obligations under the
Agreement to other third parties, if needed. the Pledgee is only required to give a written notice to the other Parties when such transfer occurs, without the consent of the Pledgers or Long-Spring Education Holding to such transfer. The Pledgers or
Long-Spring Education Holding shall not transfer their rights, obligations or responsibilities under the Agreement to any third party without the prior written consent of the Pledgee. The successors or permitted assigns (if any) of the Pledgers and
Long-Spring Education Holding shall continue to perform the respective obligations of the Pledgers and Long-Spring Education Holding under the Agreement. 

  
 15 

	 	2.	 The amount of the Guaranteed Debts that the Pledgee determines, at its own discretion, in exercising its pledge
right to the Pledged Equity in accordance with the provisions of the Agreement shall be the final evidence of the Guaranteed Debts under the Agreement. 

  

	 	3.	 At any time after the execution of the Agreement, in the case of the promulgation or amendment of any PRC law,
regulations or rules, or in the case of changes in the interpretation or application of such laws, regulations or rules, the following provisions shall apply: 

 

	 	(1)	 Where the above changes or new regulations are more favorable to any Party than the applicable laws,
regulations, ordinances or rules in force on the date of execution of the Agreement (and the other Party are not seriously affected thereby), the Parties shall change the Agreement in a timely manner to obtain the benefits brought by such changes or
new regulations; or the Parties should apply in a timely manner to obtain the benefits brought by such changes or new regulations. The Parties should make the best efforts to make the application approved; and 

 

	 	(2)	 Where any Party’s economic interests under the Agreement are directly or indirectly severely and adversely
affected due to the above changes or new regulations, the Agreement shall continue to be implemented in accordance with the original terms. Each Party shall use all legal means to obtain an exemption from compliance with the changes or new
regulations. Where the adverse effect on the economic interests of any Party cannot be resolved in accordance with the provisions of the Agreement, after the affected Party notifies the other Party, the Parties shall promptly negotiate and make all
necessary modifications to the Agreement to maintain the affected Party’s economic interests under the Agreement. 

  

	 	4.	 The conclusion, validity, interpretation, performance, modification, and termination of the Agreement and the
settlement of disputes under the Agreement shall be governed by the PRC laws. 

  

	 	5.	 Any dispute, controversy or claim arising out of or related to the Agreement or the performance,
interpretation, breach, termination or validity of the Agreement shall be resolved upon friendly negotiation. The negotiation shall begin as soon as a disputing party serves a written consultation request on the other party in dispute, where the
consultation request states the dispute or claim in detail. 

  
 16 

	 	6.	 If the dispute cannot be resolved within thirty (30) days after the above notice is served, either party
has the right to submit the dispute to arbitration. The Parties agree that the dispute shall be submitted to the China International Economic and Trade Arbitration Commission (CIETAC) in Beijing, and the CIETAC shall make an arbitral award in
accordance with the then-effective arbitration rules of the CIETAC. The arbitral award is final and binding on the Parties. The arbitration commission has the right to rule that, with respect to the equity interests, property interests or other
assets of Long-Spring Education Holding, the Pledgee shall be compensated for the losses caused to the Pledgee due to the breaching behaviors of the other Parties hereto, or to issue corresponding injunctions (for the purpose of business operation
or forced transfer of assets), or to rule that Long-Spring Education Holding shall be dissolved and liquidated. After the arbitral award comes into effect, either Party has the right to apply to a court of competent jurisdiction to enforce the
arbitral award. 

  

	 	7.	 At the request of a party in dispute, before the arbitral tribunal is formed according to law or under
appropriate circumstances, the court of competent jurisdiction has the right to grant an interim relief to support the process of the arbitration, for example, by seizing or freezing the equity or sponsors’ interests, property interests, or
other assets of the breaching party according to a judgment or a ruling. For the above purposes, the courts of competent jurisdiction include Hong Kong courts, Cayman Islands courts, the courts where the main assets of the Proposed Listed Company
are located, and the courts where the main assets of the Domestic Affiliates are located, in addition to the PRC courts. 

  

	 	8.	 During the arbitration, except the matters in dispute submitted to arbitration, the Parties to the Agreement
shall continue to perform their other obligations under the Agreement. 

  

	 	9.	 The Agreement is valid and binding upon the Parties and their respective heirs, successors and assigns.

  

	 	10.	 Any rights, powers and remedies conferred on each Party by any provision of the Agreement shall not exclude any
other rights, powers or remedies that the Party enjoys in accordance with the provisions of laws and other provisions under the Agreement, and the exercise by a Party of rights, powers and remedies shall not preclude the Party from exercising its
other rights, powers and remedies. 

  

	 	11.	 A Party’s failure to exercise or delay in exercising any of its rights, powers and remedies under the
Agreement or laws (the “Party’s Rights”) will not result in a waiver of the Party’s Rights, and any single or partial waiver of the Party’s Rights does not preclude the Party’s exercise of the Party’s Rights in
other means or exercise of the other Party’s Rights. 

  
 17 

	 	12.	 The headings of the sections in the Agreement are for reference only, and in no case shall the headings be used
to interpret or affect the interpretation of the provisions of the Agreement. 

  

	 	13.	 Each provision of the Agreement is severable and independent of other provisions. If at any time any one or
more provisions of the Agreement become invalid, illegal or unenforceable, the validity, legality and enforceability of other provisions of the Agreement shall not be thereby affected. 

 

	 	14.	 Subject to a consensus reached between the Parties hereto and approval of the shareholders (meetings) of the
Pledgee, the Parties to the Agreement may modify or supplement the Agreement and take all necessary steps and actions to make such modifications or supplements legal and effective at their own expenses. The Agreement shall be binding upon the legal
successors of the Parties. If the Stock Exchange of Hong Kong Limited (hereinafter referred to as “SEHK”) or other regulators propose any modifications to the Agreement, or any changes related to the Agreement have occurred to the
listing rules or related requirements of the SEHK, the Parties shall revise the Agreement accordingly. 

  

	 	15.	 The Agreement is written in Chinese and executed in multiple original counterparts having the same legal
effect. 

 (There is no text below) 

  
 18 

 (This page is the signature page of the Agreement, and contains no text) 

 

			
	 Yunnan Century Long-Spring Technology Co., Ltd.

/s/ (Seal) Yunnan Century Long-Spring Technology Co., Ltd. Affixed

By: /s/ Zhang Shaowei
	  	 Long-Spring Education Holding Group Limited

/s/ (Seal) Long-Spring Education Holding Group Limited Affixed

By: /s/ Zhang Shaowei

		
	 Zhang Shaowei
 By: /s/ Zhang
Shaowei
	  	 Wu Yu
 By: /s/Wu Yu

		
	 Kunming Qiuzhen Enterprise Management Partnership (LLP)

/s/ (Seal) Kunming Qiuzhen Enterprise Management Partnership (LLP) Affixed

By: /s/ Zhang Shaowei
	  	 Kunming Ziyue Enterprise Management Partnership (LLP)

/s/ (Seal) Kunming Ziyue Enterprise Management Partnership (LLP) Affixed

By: /s/ Zhu Lidong

		
	 Kunming Shuyu Enterprise Management Partnership (LLP)

/s/ (Seal) Kunming Shuyu Enterprise Management Partnership (LLP) Affixed

By: /s/ Zhang Shaowei
	  	 Kunming Mingde Enterprise Management Partnership (LLP)

/s/ (Seal) Kunming Mingde Enterprise Management Partnership (LLP) Affixed

By: /s/ Zhang Shaowei

		
	 Kunming Mingzhi Enterprise Management Partnership (LLP)

/s/ (Seal) Kunming Mingzhi Enterprise Management Partnership (LLP) Affixed

By: /s/ Wu Minglin
	  	

  
 19 

 Appendix I: List of the Shareholders of Long-Spring Education Holding 

 

	 	1.	 Zhang Shaowei 

  

	 	2.	 Wu Yu 

  

	 	3.	 Kunming Qiuzhen Enterprise Management Partnership (LLP) 

 

	 	4.	 Kunming Ziyue Enterprise Management Partnership (LLP) 

 

	 	5.	 Kunming Shuyu Enterprise Management Partnership (LLP) 

 

	 	6.	 Kunming Mingde Enterprise Management Partnership (LLP) 

 

	 	7.	 Kunming Mingzhi Enterprise Management Partnership (LLP) 

  
 20EX-10.7

 Exhibit 10.7 

School Sponsors’ and Directors’ Rights Entrustment Agreement 

This School Sponsors’ and Directors’ Rights Entrustment Agreement (hereinafter referred to as the “Agreement”) was entered into on
December 13, 2018, by and among: 
  

	A.	 Related sponsors of the Subject School (as defined hereinafter), as shown in Appendix I to the Agreement (any
of the civil parties set out in Appendix I hereto is hereinafter referred to as the “School Sponsor”); 

  

	B.	 Directors of the Subject School appointed by the School Sponsor, as shown in Appendix II to the Agreement (any
of the civil parties set out in Appendix II hereto is hereinafter referred to as the “Sponsor Appointed Directors”); 

  

	C.	 Restricted schools to be included in the proposed listed group, as shown in Appendix III to the Agreement (any
of the civil parties set out in Appendix III hereto is hereinafter referred to as the “Subject School”); 

  

	D.	 Yunnan Century Long-Spring Technology Co., Ltd., a wholly foreign-owned enterprise legally established and
existing under the PRC laws, with its unified credit code of 91530100MA6K83075A and its registered address at No. 5-20, 9/F, Building 2, Shanghai ASEAN Building, Chenggong District, Kunming City, Yunnan
Province (hereinafter referred to as “WFOE”); 

 (The School Sponsor, the Sponsor Appointed Directors and
WFOE are referred to individually as a “Party”, and collectively, the “Parties”) 
 Whereas 

 

	 	1.	 The School Sponsor is entitled to hold the corresponding sponsors’ interests in the Subject School.

  

	 	2.	 As the sponsor of the Subject School, the School Sponsor is entitled to have the same rights as private school
sponsors in accordance with the PRC regulations and the articles of association of the Subject School. 

  

	 	3.	 The Sponsor Appointed Directors who attend the board of directors of the Subject School on behalf of the
sponsors, are entitled to have all rights to review and make decision on the related matters of the Subject School in accordance with laws. 

	 	4.	 The School Sponsor agrees to, irrevocably and specifically, authorize and delegate WFOE or its designated
representatives to exercise all rights entitled as the sponsor of the Subject School on their behalf. The Sponsor Appointed Directors severally and jointly agree to, irrevocably and specifically, authorize and delegate WFOE or its designated
representatives to exercise all rights entitled as the directors of the Subject School on their behalf. 

 Therefore, upon
friendly negotiations, the Parties agree on the School Sponsor’ rights and delegation of the directors’ rights as follows: 
 I. Definitions
and Interpretations 
 In the Agreement, unless otherwise specified or required, the following terms used in the Agreement should have
the following meanings: 
 “Proposed Listed Company” means First High-School Education Group Co., Ltd., a limited company
incorporated under the laws of the Cayman Islands on September 19, 2018. 
 “Long-Spring Education Holding” means
Long-Spring Education Holding Group Limited, a limited company incorporated on September 20, 2011 under the PRC laws. 

“Domestic Affiliates” mean Long-Spring Education Holding and its subsidiary and schools. 

“Series of Cooperation Agreements” collectively refers to the Business Cooperation Agreement, the Exclusive Call Option
Agreement, the Shareholders’ Rights Entrustment Agreement and the corresponding Power of Attorney, the School Sponsors’ and Directors’ Rights Entrustment Agreement and the corresponding Power of Attorney,
the Equity Pledge Agreement, the Exclusive Technical Service and Management Consultancy Agreement, and the Loan Agreement, signed by the shareholders of Long-Spring Education, the Domestic Affiliates and the two or more parties of WFOE, including
the amendments thereto, and other agreements, contracts, or legal documents that are signed or issued by one or more Parties hereto from time to time to ensure the performance of the above agreements and that are signed or approved by WFOE in
writing. 
 “Appointor” refers to the School Sponsor and the Sponsor Appointed Directors. 

“Attorney” refers to WFOE who accepts the delegation from the Appointor under Article II hereto, or representatives designated
by WFOE under Article III hereto. 

  
 2 

 “PRC” means the People’s Republic of China (for the purpose of the
Agreement only, excluding the Hong Kong Special Administrative Region, Macao Special Administrative Region, and Taiwan region). 
 II. Authorization and
Delegation 
  

	1.	 The School Sponsor agrees to, irrevocably and specifically, authorize and delegate WFOE to exercise all rights
entitled as the sponsor of the Subject School, to the extent permitted under the PRC laws, including but not limited to: 

  

	 	(a)	 Appointing and/or electing directors or council members of the schools; 

 

	 	(b)	 Appointing and/or electing supervisors of the schools; 

 

	 	(c)	 Understanding the schools’ operating and financial position; 

 

	 	(d)	 Reviewing the board meeting resolutions, records and financial accounting statements and reports of the schools
in accordance with laws; 

  

	 	(e)	 Obtaining returns or benefits as the School Sponsor in accordance with laws (if permitted by laws);

  

	 	(f)	 Obtaining the remaining property after the schools are liquidated in accordance with laws;

  

	 	(g)	 Transferring the School Sponsor’ interests in accordance with laws; 

 

	 	(h)	 Making a choice between the for-profit and non-profit of the schools in accordance with the PRC laws, regulations or regulatory documents; 

  

	 	(i)	 Exercising the voting rights on behalf the School Sponsor in the event of bankruptcy, liquidation, dissolution
or termination of the schools; 

  

	 	(j)	 Completing the registration, approval, license, filing of the schools and other legal formalities with the
competent education department, civil affairs department or other competent government authorities, and submitting to the competent government authorities any documents that shall be submitted by the School’s Sponsors; and

  

	 	(k)	 Any other rights that the sponsors may have in accordance with the applicable the PRC laws, regulations and the
schools’ constitution (and their amendments from time to time). 

  

	2.	 The Sponsor Appointed Directors unconditionally agree to, irrevocably and specifically, authorize and delegate
WFOE to exercise all rights entitled as the directors of the Subject School, to the extent permitted under the PRC laws, including but not limited to: 

  

	 	(a)	 Attending, as the agents of the Sponsor Appointed Directors, the board meetings of the Subject School;

  
 3 

	 	(b)	 Exercising the voting rights, on behalf of the Sponsor Appointed Directors, in respect of the matters subject
to discussion and resolution by the school board of directors (including but not limited to the engagement and dismissal of the principals; amendments to the schools’ constitution and the schools’ rules and regulations; formulation of
schools’ operating strategies, investment plans and development plans, approval of annual work plans; fund-raising for the schools, review of budgets, final accounts; determination of staffing quotas and salary standards; determination to
distribute reasonable returns to the School Sponsor (if applicable); determination to divide, merge, terminate, change sponsors and other matters; appointment and assignment of the members of the liquidation group and/or their agents of the Subject
School, approval of the liquidation plans and liquidation reports, etc.); 

  

	 	(c)	 Proposing to convene an interim board meeting of the Subject School; 

 

	 	(d)	 Signing the board meeting minutes, board resolutions or other legal documents that the Sponsor Appointed
Directors, as the Subject School’s directors, may have the right to sign; 

  

	 	(e)	 Directing the legal representatives, persons in charge of the finance, business, administration of the Subject
School to act on the intention of the Attorney; 

  

	 	(f)	 Exercising other director rights and voting rights under the constitution of the Subject School (including any
other voting rights of directors as provided for by the amendments to the constitution); 

  

	 	(g)	 Exercising the voting rights on behalf the directors in the event of bankruptcy, liquidation, dissolution or
termination of the schools; 

  

	 	(h)	 Completing the registration, approval, license, filing of the Subject School and other legal formalities with
the competent education department, civil affairs department, other competent government authorities, and submitting to the competent government authorities any documents that shall be submitted by the directors; and 

 

	 	(i)	 Any other rights that the directors may have in accordance with the applicable PRC laws, regulations and the
constitution of the Subject School (and their amendments from time to time). 

  

	3.	 The Attorney’ exercise of the rights in clauses 1 and 2 above does not require prior consultation with or
consent of the Appointors. However, after each resolution of the schools or each proposal to convene an interim school meeting has been made, the Attorney shall inform the Appointors in a timely manner. 

 

	4.	 The Appointor agrees that at the time of execution of the Agreement, the powers of attorney in the forms as
shown in Appendix IV and Appendix V to the Agreement will be issued to WFOE respectively, and such powers of attorney constitute an integral part of the Agreement. The Appointor shall provide full assistance to the Attorney in exercising their
entrusted rights, including but not limited to timely signing the board resolutions made by the Attorney on the Subject School or other relevant legal documents when necessary (for example, to meet the requirements for submission of documents
required by government authorities for approval, registration and filing), and implement all reasonably necessary actions. 

  
 4 

	5.	 For the purpose of exercising the delegated rights under the Agreement, WFOE and/or WFOE designated persons
have the right to know all relevant information about the operation, business, students, teachers, finances and employees of the Subject School, and to consult relevant materials of the Subject School, and the Appointor shall procure the Subject
School to fully cooperates therewith. 

  

	6.	 WFOE warrants that the Attorney will perform the delegated obligations diligently within the scope of
authorization of the Agreement and in accordance with the laws and the constitution of the Subject School, and ensures that the convening procedures, voting methods and contents of relevant board meetings do not violate laws, administrative
regulations or the constitution of the Subject School; the Appointor shall recognize and assume the corresponding liabilities for any legal consequences arising from the exercise of the above entrusted rights by the Attorney. 

 

	7.	 Under no circumstances shall WFOE be required to assume any responsibility or make any economic or other
compensations to the Subject School, the Appointor or any third party for its exercise and/or the exercise of its delegated rights under the Agreement by its designated Attorney. 

 

	8.	 The School Sponsor agrees to indemnify and hold harmless WFOE from any and all losses that it suffers or may
suffer as a result of its and/or its designated Attorney’ exercise of the entrusted rights, including but not limited to any losses arising from litigation, recovery, arbitration, claim filed by any third party, or administrative investigation
or punishment by government agencies against it, with the exception of the losses caused by the Attorney’ intentional or gross negligence. 

III. Sub-delegation and Succession of Rights 

 

	1.	 The Appointor irrevocably agrees that WFOE has the right to designate and
sub-delegate the rights granted to WFOE under Article II hereof to the directors of WFOE or its designated persons, without prior notice to or consent of Appointor. Any director authorized by or persons
designated by WFOE shall be deemed as the Attorney hereunder and be entitled to all the rights under Article II hereof. WFOE has the right to dismiss the aforesaid designated persons at any time with prior notice to the Appointor.

  

	2.	 The Appointor irrevocably agrees that the successor or liquidator who has the right to inherit or succeed to
the civil rights of the WFOE for any reason such as the division, merger or liquidation of WFOE, has the right to exercise all rights hereunder instead of WFOE. 

  
 5 

 IV. Continuing Validity of the Authorization and Delegation 

 

	1.	 The School Sponsor irrevocably agrees that the authorization and delegation set out herein shall not be
invalidated, revoked, derogated or otherwise affected adversely in the event of an increase, a decrease, a merger of the sponsors’ interests held by School Sponsor in the Subject School or other similar events as specified in Article II and
Article III hereof. Except with the consent and/or confirmation of WFOE in writing, the School Sponsor ceases to hold any sponsors’ interests in the Subject School. 

 

	2.	 The School Sponsor irrevocably agrees that the authorization and delegation set out herein shall not be
invalidated, revoked, derogated or otherwise affected adversely in the event of (including but not limited to) a division, merger, bankruptcy, reconsolidation, dissolution and liquidation of the School Sponsor or other similar events as specified in
Article II and Article III hereof. 

  

	3.	 The School Sponsor irrevocably agrees that the provisions in the Agreement are an integral part of the
sponsors’ interests held by the School Sponsor in the Subject School. Any statutory/contractual successor, assign, agent or other similar person of the School Sponsor acquiring and/or exercising the sponsor’s interests/rights of the
Subject School, shall simultaneously be deemed to acknowledge and assume the rights and obligations hereunder. 

  

	4.	 The Sponsor Appointed Directors irrevocably agree that the authorization and delegation set out herein shall
not be invalidated, revoked, derogated or otherwise affected adversely in the event of civil disability, limited civil ability, death of the Sponsor Appointed Directors or other similar events as specified in Article II and Article III hereof.
Except with the consent and/or confirmation of WFOE in writing, the Sponsor Appointed Directors cease to serve as directors of the Subject School. 

  

	5.	 The School Sponsor and the Sponsor Appointed Directors irrevocably agree that the provisions in the Agreement
are an integral part of the duties of directors appointed by the School Sponsor in the Subject School. Any statutory/contractual successor, assign, agent or other similar person of the Sponsor Appointed Directors acquiring and exercising the
directors’ rights of the Subject School, shall simultaneously be deemed to acknowledge and assume the rights and obligations hereunder. 

V. Representations and Warranties of the Parties 
  

	1.	 The School Sponsor is independent legal representative duly established and validly existing, and have the
ability to assume civil liability externally. 

  
 6 

	2.	 The School Sponsor has the right to execute and perform the Agreement, and they have obtained all necessary and
appropriate approvals and authorizations for executing and performing the Agreement. 

  

	3.	 When the Agreement takes effect, the School Sponsor is the legal sponsor of the Subject School, free from any
existing disputes over the interests of the School Sponsor, and the Attorney can fully and completely exercise the authorization of the School Sponsor and the delegated School Sponsor’s rights in accordance with the Agreement.

  

	4.	 Except for the encumbrances that have been legally disclosed to WFOE and the right restrictions created on the
rights of the Subject School’s sponsor due to the series of cooperation agreements, there isn’t any other encumbrance or right restriction on the rights of the Subject School’s sponsor. 

 

	5.	 The Agreement constitutes a legal, valid and legally enforceable obligation of the School Sponsor on and from
the effective date of the Agreement. 

  

	6.	 The School Sponsor’s execution and performance of the Agreement does not violate any PRC law or
regulation, or court’s judgment or any arbitral agency’s award, or any administrative authority’s decision, approval, license or any agreement to which they are parties or which is binding upon them, nor result in suspension,
revocation, confiscation or failure of renewal of any government authority’s approval or license applicable to them. 

  

	7.	 There is no pending, or, to the knowledge of the School Sponsor, threatening, litigation, arbitration or other
judicial proceeding or administrative proceeding that will affect the School Sponsor’s ability to perform their obligations under the Agreement. 

  

	8.	 The Sponsor Appointed Directors are Chinese citizens and have complete and independent capacity for civil
conduct. The Sponsor Appointed Directors have the legal capacity to execute the Agreement and shall have rights, perform obligations and assume responsibilities under the Agreement. 

 

	9.	 When the Agreement takes effect, the Sponsor Appointed Directors are the legal directors of the Subject School,
free from any existing disputes over the rights of directors of the Subject School, and the Attorney can fully and completely exercise the authorization of the Sponsor Appointed Directors and the delegated director rights in accordance with the
Agreement. 

  

	10.	 Except for the right restrictions created on the rights of the school directors due to the Series of
Cooperation Agreements, there isn’t any other encumbrance or right restriction on the director rights of the Sponsor Appointed Directors. 

  
 7 

	11.	 The Agreement, after being executed by the Sponsor Appointed Directors, constitutes a legal, valid and binding
obligation of the Sponsor Appointed Directors. 

  

	12.	 The Sponsor Appointed Directors’ execution and performance of the Agreement does not violate any PRC laws
or regulations, or any court’s judgment, or any arbitral agency’s award, or any administrative authority’s decision, approval, license or any other agreement to which they are parties or which is binding upon them.

  

	13.	 There is no pending, or, to the knowledge of the Sponsor Appointed Directors, threatening, litigation,
arbitration or other judicial proceeding or administrative proceeding that will affect the Sponsor Appointed Directors’ ability to perform their obligations under the Agreement. 

 

	14.	 WFOE is an independent legal representative duly established and validly existing, and has the ability to
assume civil liability externally. 

  

	15.	 WFOE has the right to execute and perform the Agreement, and it has obtained all necessary and appropriate
approvals and authorizations for executing and performing the Agreement. 

  

	16.	 The Agreement constitutes a legal, valid and legally enforceable obligation of WFOE on and from the effective
date of the Agreement; 

  

	17.	 WFOE’s execution and performance of the Agreement does not violate any PRC law or regulation, or
court’s judgment or any arbitral agency’s award, or any administrative authority’s decision, approval, license or any agreement to which it is a party or which is binding upon it, nor result in suspension, revocation, confiscation or
failure of renewal of any government authority’s approval or license applicable to it. 

  

	18.	 There is no pending, or, to the knowledge of WFOE, threatening, litigation, arbitration or other judicial
proceeding or administrative proceeding that will affect WFOE’s ability to perform its obligations under the Agreement. 

 VI.
Amendment to the Agreement 
  

	1.	 Subject to a consensus reached between the Parties hereto and approval of the shareholders (meetings) of WFOE,
the Parties to the Agreement may modify or supplement the Agreement and take all necessary steps and actions to make such modifications or supplements legal and effective at their own expenses. 

  
 8 

	2.	 If the Stock Exchange of Hong Kong Limited (hereinafter referred to as “SEHK”) or other
regulators propose any modifications to the Agreement, or any changes related to the Agreement have occurred to the listing rules or related requirements of the SEHK, the Parties shall revise the Agreement accordingly. 

VII. Effectiveness and Term of the Agreement 
  

	1.	 The Agreement comes into effect as of the date of signing by the Parties hereto, keeps being valid within the
business duration of the Subject School and in the renewed period permitted by the PRC laws, and shall automatically terminate after WFOE has fully exercised, in accordance with Exclusive Call Option Agreement signed simultaneously on the same date
when they entered into the Agreement with the shareholders of Long-Spring Education Holding and the Domestic Affiliates, the option of acquiring all equity interests directly and indirectly held by the shareholders of Long-Spring Education Holding
in the Domestic Affiliates from time to time. 

  

	2.	 WFOE may rescind or terminate the Agreement unilaterally by serving a thirty (30) days’ prior notice.
Unless otherwise provided by law, in no case shall the School Sponsor, the Sponsor Appointed Directors or the Subject School has the right to unilaterally terminate or rescind the Agreement. 

 

	3.	 For the avoidance of doubt, in accordance with the Exclusive Call Option Agreement, if the laws and regulations
of the PRC allow WFOE and/or another foreign-owned or offshore entity designated by the Proposed Listed Company to directly hold part or all of the equity interests of the Domestic Affiliates and/or the Sponsor’s equity interests, and to engage
in restricted/prohibited business such as private education through the Domestic Affiliates, then WFOE shall issue an equity purchase notice as soon as practicable, and a minimum limit for the purchaser of the equity interests of the Domestic
Affiliates to acquire the(direct and indirect) equity interests from the shareholders of Long-Spring Education Holding shall not be less than an upper threshold permitted by the laws and regulations of the PRC for WFOE and/or another foreign-owned
or offshore entity designated by the Proposed Listed Company to acquire the equity interests of the Domestic Affiliates. The Agreement shall automatically terminate after the purchaser of the entity interests of the Domestic Affiliates has fully
exercised, in accordance with the Exclusive Call Option Agreement, the option of acquiring all equity interests (directly and indirectly) held by the shareholders of Long-Spring Education Holding in the Domestic Affiliates from time to time.

 VIII. Liabilities for Breach of Contract 
  

	1.	 Where a Party is in breach of the Agreement, thereby causing all or part of the Agreement impossible to be
performed, the defaulting party shall be liable therefor, and compensate other parties for the losses incurred (including the court costs and attorney fees arising therefrom). 

  
 9 

 IX. Confidentiality 
  

	1.	 The Parties hereby acknowledge and determine that any oral or written information exchanged between them in
connection with the Agreement is confidential. Each Party shall keep all such information confidential, and shall not disclose any relevant information to any third party without the written consent of the other Parties, except:

  

	 	a)	 the public is aware of or will become aware of such information (not as a result of unauthorized disclosure to
the public by the party who receives the information); 

  

	 	b)	 the information is disclosed as required by applicable laws and regulations or the rules or regulations
governing the transactions of securities; or 

  

	 	c)	 the information needs to be disclosed by a Party to its legal or financial adviser in connection with the
transactions hereunder, provided that such legal or financial adviser is also subject to confidentiality obligations similar with this clause. 

  

	 	d)	 the information needs to be disclosed as required by the related listing rules in Hong Kong.

  

	2.	 The leakage of the information by the staff of a Party or the agency recruited by the Party shall be deemed to
be the leakage committed by the Party, and the Party shall be liable for breach of contract in accordance with the Agreement. 

  

	3.	 The Parties agree that this Article shall survive regardless of whether the Agreement is invalid, changed,
rescinded, terminated, or non-operable. 

 X. Force Majeure 

 

	1.	 If the obligations of a Party under the Agreement are not fulfilled due to a force majeure event, the
liabilities under the Agreement shall be waived to the extent of impact of the force majeure event. For the purpose of the Agreement, force majeure events include only natural disasters, storms, tornadoes and other weather conditions, strikes,
factory closedown/work stoppages or other industry problems, wars, riots, conspiracies, acts of hostilities, acts of terrorism, or violence of criminal organizations, blockades, severe illness or plagues, earthquakes or other crustal movements,
floods and other natural disasters, bomb explosions or other explosions, fires, accidents, or government actions, which lead to failure of performing the Agreement. 

 

	2.	 When a force majeure event occurs, the Party affected by the force majeure event shall make every effort to
reduce and remove the impact of the force majeure event, and shall undertake the delayed and impeded obligations under the Agreement. After the force majeure event is lifted, the Parties agree to make every effort to continue to perform the
Agreement. 

  
 10 

	3.	 If there is a possible force majeure event that causes delay or impeding of the Agreement or threatens to delay
or impede the performance of the Agreement, the Party concerned shall immediately notify the other Parties in writing and provide all relevant information. 

XI. Changes of Circumstances 
  

	1.	 As a supplement and without contravention with other provisions of the Series of Cooperation agreements, if at
any time, due to the promulgation or amendment of any laws, regulations or rules of the PRC, or due to changes of the interpretation or applicability of such laws, regulations or rules, or due to changes of the relevant registration procedures, WFOE
holds that keeping the validity of the Agreement or accepting exercise of the delegated rights becomes in the manner prescribed herein illegal or contrary to such laws, regulations or rules, the Appointor shall, as instructed by WFOE in writing and
at the reasonable request of WFOE, take any action and/or sign any agreement or other document immediately to: 

  

	 	a)	 keep the Agreement valid; and/or 

 

	 	b)	 achieve the intent and purposes of the Agreement in the manner specified in the Agreement or in other manners.

 XII. MISCELLANEOUS 
  

	1.	 At any time after the execution of the Agreement, in the case of the promulgation or amendment of any PRC law,
regulations or rules, or in the case of changes in the interpretation or application of such laws, regulations or rules, the following provisions shall apply: 

 

	 	a)	 Where the above changes or new regulations are more favorable to any Party than the applicable laws,
regulations, ordinances or rules in force on the date of execution of the Agreement (and the other Parties are not seriously affected thereby), under the coordination of WFOE, the Parties shall change the Series of Cooperation Agreements in a timely
manner to obtain the benefits brought by such changes or new regulations; or the Parties should apply in a timely manner to obtain the benefits brought by such changes or new regulations, and the Parties should make the best efforts to make the
application approved; and 

  
 11 

	 	b)	 Where any Party’s economic interests under the Agreement are directly or indirectly severely and adversely
affected due to the above changes or new regulations, the Agreement shall continue to be implemented in accordance with the original terms. Each Party shall use all legal means to obtain an exemption from compliance with the changes or new
regulations. Where the adverse effect on the economic interests of any Party cannot be resolved in accordance with the provisions of the Agreement, after the affected Party notifies the other Parties, under the coordination by WFOE, the Parties
shall promptly negotiate and make all necessary modifications to the Series of Cooperation Agreements to maintain the affected Party’s economic interests under the Agreement. 

 

	2.	 The conclusion, validity, interpretation, performance, modification, and termination of the Agreement and the
settlement of disputes under the Agreement shall be governed by the PRC laws. 

  

	3.	 Any dispute, controversy or claim arising out of or related to the Agreement or the performance,
interpretation, breach, termination or validity of the Agreement shall be resolved upon friendly negotiation. The negotiation shall begin as soon as a disputing party serves a written consultation request on the other party in dispute, where the
consultation request states the dispute or claim in detail. If the dispute cannot be resolved within thirty (30) days after the above notice is served, either party has the right to submit the dispute to arbitration. The Parties agree that the
dispute shall be submitted to the China International Economic and Trade Arbitration Commission (CIETAC) in Beijing, and the CIETAC shall make an arbitral award in accordance with the then-effective arbitration rules of the CIETAC. The arbitral
award is final and binding on all the Parties. The arbitration commission has the right to rule that, with respect to the equity interests, property interests or other assets of the School Sponsor, WFOE shall be compensated for the losses caused to
WFOE due to the breaching behaviors of other Parties hereto, or to issue corresponding injunctions (for example, for the purpose of business operation or forced transfer of assets), or to rule that the School Sponsor and the Subject School shall be
dissolved and liquidated. After the arbitral award comes into effect, either Party has the right to apply to a court of competent jurisdiction to enforce the arbitral award. 

 

	4.	 At the request of a party in dispute, before the arbitral tribunal is formed according to law or under
appropriate circumstances, the court of competent jurisdiction has the right to grant an interim relief, for example, by seizing or freezing the equity interests of the breaching party, the sponsors’ interests, property interests, or other
assets according to a judgment or a ruling. For the above purposes, the courts of competent jurisdiction include Hong Kong courts, Cayman Islands courts, the courts where the main assets of the Proposed Listed Company are located, and the courts
where the main assets of the Domestic Affiliates are located, in addition to the PRC courts. 

  

	5.	 The Agreement is valid and binding on the Parties and their respective heirs, successors and assigns.

  
 12 

	6.	 Any rights, powers and remedies conferred on each Party by any provision of the Agreement shall not exclude any
other rights, powers or remedies that the Party enjoys in accordance with the provisions of laws and other provisions under the Agreement, and the exercise by a Party of rights, powers and remedies shall not preclude the Party from exercising its
other rights, powers and remedies. 

  

	7.	 A Party’s failure to exercise or delay in exercising any of its rights, powers or remedies under the
Agreement or laws (hereinafter referred to as the “Party’s Rights”) shall not result in a waiver of the Party’s Rights; and a single or partial waiver of any rights by a Party shall not preclude the Party from exercising
the Party’s Rights in other ways or from exercising other rights of the Party. 

  

	8.	 The headings of the sections in the Agreement are for reference only, and in no case shall the headings be used
to interpret or affect the interpretation of the provisions of the Agreement. 

  

	9.	 Each provision of the Agreement is severable and independent of other provisions. If at any time any one or
more provisions of the Agreement become invalid, illegal or unenforceable, the validity, legality and enforceability of other provisions of the Agreement shall not be thereby affected. 

 

	10.	 The Agreement is binding on legal successors and assigns of the Parties. 

 

	11.	 The Agreement is written in Chinese and executed in multiple counterparts having the same legal effect.

 (There is no text below) 

  
 13 

 (This page is signature page (i) of the Agreement, and contains no text) 

 

					
	 Yunnan Century Long-Spring Technology Co., Ltd.

/s/ (Seal) Yunnan Century Long-Spring Technology Co., Ltd. Affixed

By: /s/ Zhang Shaowei
  

Ordos Hengyue Education Technology Co., Ltd.
 /s/ (Seal)
Ordos Hengyue Education Technology Co., Ltd. Affixed
 By: /s/ Su Kang
	 	 
 

         

 
	  	 Long-Spring Education Holding Group Limited

/s/ (Seal) Long-Spring Education Holding Group Limited Affixed

By: /s/ Zhang Shaowei

  
 14 

 (This page is signature page (ii) of the Agreement, and contains no text) 

 

							
	 No.
	  	 Name of school
	  	 Directors of the schools

appointed by the sponsor
	  	 Directors’ signature

	1.	  	Resort District Hengshui Experimental Secondary School	  	Zhang Shaowei, Shen Zijin, Ma Zikun, Wang Zhenhu, Liu Kai, Xu Ruzheng, Li Linfeng	  	/s/ Zhang Shaowei, /s/ Shen Zijin, /s/ Ma Zikun, /s/ Wang Zhenhu, /s/ Liu Kai, /s/ Xu Ruzheng, /s/ Li Linfeng
				
	2.	  	Yunnan Hengshui Chenggong Experimental Secondary School	  	Zhang Shaowei, Sang Haiyong, Ma Zikun, Liu Kai, Xu Ruzheng	  	/s/ Zhang Shaowei, /s/ Sang Haiyong, /s/ Ma Zikun, /s/ Liu Kai, /s/ Xu Ruzheng
				
	3.	  	Yunnan Hengshui Experimental Secondary School - Xishan School	  	Zhang Shaowei, Sang Haiyong, Guo Haoyu, Wang Zhenhu	  	/s/ Zhang Shaowei, /s/ Sang Haiyong, /s/ Guo Haoyu, /s/ Wang Zhenhu
				
	4.	  	Yunnan Hengshui Yiliang Experimental Secondary School	  	Zhang Shaowei, Sang Haiyong, Ma Zikun, Liu Kai, Xu Ruzheng	  	/s/ Zhang Shaowei, /s/ Sang Haiyong, /s/ Ma Zikun, /s/ Liu Kai, /s/ Xu Ruzheng
				
	5.	  	Yunnan Long-Spring Foreign Language Secondary School	  	Zhang Shaowei, Liu Kai, Sang Haiyong, Wang Zhenhu, Chen Fang	  	/s/ Zhang Shaowei, /s/ Liu Kai, /s/ Sang Haiyong, /s/ Wang Zhenhu, /s/ Chen Fang

  
 15 

 (This page is signature page (iii) of the Agreement, and contains no text) 

 

							
	6.	  	Qujing Hengshui Experimental Secondary School	  	Zhang Shaowei, Liu Kai, He Ji, Li Wei Lee, Zhang Shaodong	  	/s/ Zhang Shaowei, /s/ Liu Kai, /s/ He Ji, /s/ Li Wei Lee, /s/ Zhang Shaodong
				
	7.	  	Yunnan Yuxi Hengshui Experimental High School	  	Zhang Shaowei, Liu Kai, He Ji, Li Wei Lee, Zhang Shaodong	  	/s/ Zhang Shaowei, /s/ Liu Kai, /s/ He Ji, /s/ Li Wei Lee, /s/ Zhang Shaodong
				
	8.	  	Ordos Hengshui Experimental High School	  	Liu Kai, Shi Chaomin, Zhang Shaodong	  	/s/ Liu Kai, /s/ Shi Chaomin, /s/ Zhang Shaodong
				
	9.	  	Yunnan Zhongchuang Education Tutorial School	  	Su Kang	  	/s/ Su Kang

  
 16 

 (This page is signature page (iv) of the Agreement, and contains no text) 

 

					
	 Resort District Hengshui Experimental Secondary School

/s/ (Seal) Resort District Hengshui Experimental Secondary School Affixed

By: /s/ Zhang Shaowei
	  		  	 Yunnan Hengshui Chenggong Experimental Secondary School

/s/ (Seal) Yunnan Hengshui Chenggong Experimental Secondary School Affixed

By: /s/ Zhang Shaowei

			
	 Yunnan Hengshui Experimental Secondary School—Xishan School

/s/ (Seal) Yunnan Hengshui Experimental Secondary School—Xishan School Affixed

By: /s/ Zhang Shaowei
	  		  	 Yunnan Hengshui Yiliang Experimental Secondary School

/s/ (Seal) Yunnan Hengshui Yiliang Experimental Secondary School Affixed

By: /s/ Zhang Shaowei

			
	 Yunnan Long-Spring Foreign Language Secondary School

/s/ (Seal) Yunnan Long-Spring Foreign Language Secondary School Affixed

By: /s/ Zhang Shaowei
	  	         

 
	  	 Qujing Hengshui Experimental Secondary School

/s/ (Seal) Qujing Hengshui Experimental Secondary School Affixed

By: /s/ Zhang Shaowei

			
	 Yunnan Yuxi Hengshui Experimental High School

/s/ (Seal) Yunnan Yuxi Hengshui Experimental High School Affixed

By: /s/ Zhang Shaowei
  

Yunnan Zhongchuang Education Tutorial School
 /s/ (Seal)
Yunnan Zhongchuang Education Tutorial School Affixed
 By: /s/ Liu Kai
	  		  	 Ordos Hengshui Experimental High School

/s/ (Seal) Ordos Hengshui Experimental High School Affixed
 By:
/s/ Su Kang

  
 17 

 Appendix I: School Sponsor 
  

							
	 No.
	  	 Name of School
	  	 Sponsor
	  	 Percentage
of
  Interests Held by  
the Sponsor

	1.	  	Resort District Hengshui Experimental Secondary School	  	Long-Spring Education Holding Group Limited	  	100%
				
	2.	  	Yunnan Hengshui Chenggong Experimental Secondary School	  	Long-Spring Education Holding Group Limited	  	100%
				
	3.	  	Yunnan Hengshui Experimental Secondary School—Xishan School	  	Long-Spring Education Holding Group Limited	  	100%
				
	4.	  	Yunnan Hengshui Yiliang Experimental Secondary School	  	Long-Spring Education Holding Group Limited	  	100%
				
	5.	  	Yunnan Long-Spring Foreign Language Secondary School	  	Long-Spring Education Holding Group Limited	  	100%
				
	6.	  	Qujing Hengshui Experimental Secondary School	  	Long-Spring Education Holding Group Limited	  	100%
				
	7.	  	Yunnan Yuxi Hengshui Experimental High School	  	Long-Spring Education Holding Group Limited	  	100%
				
	8.	  	Ordos Hengshui Experimental High School	  	Ordos Hengyue Education Technology Co., Ltd.	  	100%
				
	9.	  	Yunnan Zhongchuang Education Tutorial School	  	Long-Spring Education Holding Group Limited	  	100%

  
 18 

 Appendix II: Sponsor Appointed Directors 

 

							
	 No.
	  	 Name of School
	  	 Sponsor
	  	 Directors of the Schools

Appointed by the Sponsor

	1.	  	Resort District Hengshui Experimental Secondary School	  	Long-Spring Education Holding Group Limited	  	Zhang Shaowei, Shen Zijin, Ma Zikun, Wang Zhenhu, Liu Kai, Xu Ruzheng, Li Linfeng
				
	2.	  	Yunnan Hengshui Chenggong Experimental Secondary School	  	Long-Spring Education Holding Group Limited	  	Zhang Shaowei, Sang Haiyong, Ma Zikun, Liu Kai, Xu Ruzheng
				
	3.	  	Yunnan Hengshui Experimental Secondary School—Xishan School	  	Long-Spring Education Holding Group Limited	  	Zhang Shaowei, Sang Haiyong, Guo Haoyu, Wang Zhenhu
				
	4.	  	Yunnan Hengshui Yiliang Experimental Secondary School	  	Long-Spring Education Holding Group Limited	  	Zhang Shaowei, Sang Haiyong, Ma Zikun, Liu Kai, Xu Ruzheng
				
	5.	  	Yunnan Long-Spring Foreign Language Secondary School	  	Long-Spring Education Holding Group Limited	  	Zhang Shaowei, Liu Kai, Sang Haiyong, Wang Zhenhu, Chen Fang
				
	6.	  	Qujing Hengshui Experimental Secondary School	  	Long-Spring Education Holding Group Limited	  	Zhang Shaowei, Liu Kai, He Ji, Li Wei Lee, Zhang Shaodong
				
	7.	  	Yunnan Yuxi Hengshui Experimental High School	  	Long-Spring Education Holding Group Limited	  	Zhang Shaowei, Liu Kai, He Ji, Li Wei Lee, Zhang Shaodong
				
	8.	  	Ordos Hengshui Experimental High School	  	Ordos Hengyue Education Technology Co., Ltd.	  	Su Kang
				
	9.	  	Yunnan Zhongchuang Education Tutorial School	  	Long-Spring Education Holding Group Limited	  	Liu Kai, Shi Chaomin, Zhang Shaodong

  
 19 

 Appendix III: Subject School 

 

					
	 No.
	  	 Name of the Subject School
	  	
    Percentage of Direct    
and Indirect Equity

Interests of

Long-Spring
 Education
Holding

	1.	  	Resort District Hengshui Experimental Secondary School	  	100%
			
	2.	  	Yunnan Hengshui Chenggong Experimental Secondary School	  	100%
			
	3.	  	Yunnan Hengshui Experimental Secondary School—Xishan School	  	100%
			
	4.	  	Yunnan Hengshui Yiliang Experimental Secondary School	  	100%
			
	5.	  	Yunnan Long-Spring Foreign Language Secondary School	  	100%
			
	6.	  	Qujing Hengshui Experimental Secondary School	  	100%
			
	7.	  	Yunnan Yuxi Hengshui Experimental High School	  	100%
			
	8.	  	Ordos Hengshui Experimental High School	  	100%
			
	9.	  	Yunnan Zhongchuang Education Tutorial School	  	100%

  
 20 

 Appendix IV: Form of School Sponsors’ Power of Attorney 

Power of Attorney 
 The Power of Attorney
is signed by [SPONSOR NAME] (its unified credit code: [NUMBER]) and issued to Yunnan Century Long-Spring Technology Co., Ltd. (hereinafter referred to as the “Attorney”) on [DATE]. The Company hereby grant the Attorney a full and
special agency right, specifically entrusting and authorizing the Attorney as the agent of the Company, in its name, to exercise or sub-delegate the exercise of all the Company’s power, rights and
authorities entitled as a sponsor of [SCHOOL] (hereinafter referred to as the “School”), including but not limited to: 
  

	 	(a)	 Appointing and/or electing directors or council members of the School; 

 

	 	(b)	 Appointing and/or electing supervisors of the School; 

 

	 	(c)	 Understanding the School’ operating and financial position; 

 

	 	(d)	 Reviewing the board meeting resolutions, records and financial accounting statements and reports of the School
in accordance with laws; 

  

	 	(e)	 Obtaining returns as a sponsor of the School in accordance with laws (if any); 

 

	 	(f)	 Obtaining the remaining property after the School is liquidated in accordance with laws; 

 

	 	(g)	 Transferring the School sponsor’ interests in accordance with laws; 

 

	 	(h)	 Making a choice between the for-profit and non-profit of the School in accordance with the PRC laws, regulations or regulatory documents; 

  

	 	(i)	 Exercising the voting rights on behalf of a sponsor of the School in the event of bankruptcy, liquidation,
dissolution or termination of the School; 

  

	 	(j)	 Completing the registration, approval, license, filing of the School and other legal formalities with the
competent education department, civil affairs department or other competent government authorities, and submitting to the competent government authorities any documents that shall be submitted by the School’s sponsors; and

  

	 	(k)	 Any other rights that the sponsors may have in accordance with the applicable the PRC laws, regulations and the
School constitution (and their amendments from time to time). 

 The Attorney has the right to designate and sub-delegate the aforesaid power, rights and authorities granted to the Attorney to, the directors of the Attorney or their designated individuals. 

The successor or liquidator who has the right to inherit or succeed to the civil rights of the Attorney for any reason such as the division, merger,
liquidation of the Attorney, has the right to exercise all the aforesaid power, rights and authorities instead of the Attorney. 
 The Company irrevocably
agree that the authorization and delegation set out herein shall not be invalidated, revoked, derogated or otherwise affected adversely in the event of an increase, a decrease, merger of the equity interests held by the Company in the School or
other similar events, except the Company ceases to hold any equity interest in sponsors of the School with consent and/or confirmation of WFOE in writing. 

  
 21 

 The Company irrevocably agree that the authorization and delegation set out herein shall not be invalidated,
revoked, derogated or otherwise affected adversely in the event of division, merger, bankruptcy, reconsolidation, dissolution or liquidation or other similar events. The Power of Attorney is an integral part of the sponsor’s interests of the
Company in the School. Any statutory and/or contractual successor’s, assign’s, agent’s or other similar person’s acquiring and/or exercising the interests/rights of the school sponsor shall be deemed to agree and assume the
rights and obligations under the Power of Attorney. 
 The Power of Attorney is an integral part of the School Sponsors’ and Directors’ Rights
Entrustment Agreement. The issues uncovered herein shall be subject to the provisions stipulated in the School Sponsors’ and Directors’ Rights Entrustment Agreement, including but not limited to governing laws, settlement of disputes,
period of validity, definitions and interpretations. 
 The authorizations are hereby granted. 

        Appointor (Seal):__________________ 

Legal representative
(Signature):                 

  
 22 

 Appendix V: Form of Sponsor Appointed Directors’ Power of Attorney 

Power of Attorney 
 The Power of Attorney
is signed by [NAME] (ID Card No. [NUMBER]) and issued to Yunnan Century Long-Spring Technology Co., Ltd. (hereinafter referred to as the “Attorney”) on [DATE]. I hereby grant the Attorney a full and special agency right,
specifically entrusting and authorizing the Attorney as my agent, in my name, to exercise or sub-delegate the exercise of my power, rights and authorities entitled as a director of [SCHOOL] (hereinafter
referred to as the “School”), including but not limited to: 
  

	(1)	 Attending, as my agent, the board meetings of the School; 

 

	(2)	 Exercising the voting rights, on my behalf, in respect of the matters subject to discussion and resolution by
the School’s board of directors (including but not limited to the engagement and dismissal of the principals; amendments to the School’s constitution and the School’s rules and regulations; formulation of the School’s development
plans, approval of annual work plans; fund-raising for the School, review of budgets, final accounts; determination of staffing quotas and salary standards; determination to divide, merge, terminate, change sponsors and other matters; appointment
and assignment of the members of the liquidation group and/or their agents of the Subject School, approval of the liquidation plans and liquidation reports, etc.); 

 

	(3)	 Proposing to convene an interim board meeting of the School; 

 

	(4)	 Signing the board meeting minutes, board resolutions or other legal documents that I, as the School’
director, may have the right to sign; 

  
  

	(5)	 Directing the legal representatives, persons in charge of the finance, business, administration of the School
to act on the intention of the Attorney; 

  

	(6)	 Exercising other director rights and voting rights under the School’s constitution (including any other
voting rights of directors as provided for by the amendments to the constitution); 

  

	(7)	 Completing the registration, approval, license and other legal formalities of the Subject School with the
competent education department, civil affairs department or other competent government authorities; and 

  

	(8)	 Any other rights that the directors may have in accordance with other applicable PRC laws, regulations and the
School’s constitution (and their amendments from time to time). 

 The Attorney has the right to designate and sub-delegate the aforesaid power, rights and authorities granted to the Attorney to, the directors of the Attorney or their designated individuals. 

The successor or liquidator who has the right to inherit or succeed to the civil rights of the Attorney for any reason such as the division, merger,
liquidation of the Attorney, has the right to exercise all the aforesaid power, rights and authorities instead of the Attorney. 
 I irrevocably agree that
the authorization and delegation set out herein shall not be invalidated, revoked, derogated or otherwise affected adversely in the event of my civil disability, limited civil ability, death or other similar events, except I cease to be a director
of the School with consent and/or confirmation of WFOE in writing. 

  
 23 

 The Power of Attorney is an integral part of the School Sponsors’ and Directors’ Rights
Entrustment Agreement. The issues uncovered herein shall be subject to the provisions stipulated in the School Sponsors’ and Directors’ Rights Entrustment Agreement, including but not limited to governing laws, settlement of disputes,
definitions and interpretations. 
 The authorizations are hereby granted. 

Appointor:________________ 
 Signature:_________________ 

  
 24 

 Schedule of Material Differences 

One or more domestic affiliates signed School Sponsors’ and Directors’ Rights Entrustment Agreement using this form. Pursuant to Instruction ii to
Item 601 of Regulation S-K, the Registrant may only file this form as an exhibit with a schedule setting forth the material details in which the executed agreements differ from this form: 

 

									
	 No.
	  	 Domestic Affiliate 
	  	 Unified Credit Code
	  	 Signing Date
	  	 Material Differences in terms

	 1
	  	Yunnan Century Long-Spring Technology Co., Ltd.	  	91530100MA6K83075A	  	January 12, 2021	  	 VI Amendment to the Agreement

2. If relevant regulators propose any modifications to the Agreement, or any changes related to the Agreement have occurred to related laws or listing rules,
the Parties shall revise the Agreement accordingly. 

	  
 2
	  	  
 Long-Spring Education Holding Group Limited
	  	  
 91530121582368402N
	  	  
 January 12, 2021

	  
 3
	  	  
 Kunming Guandu Hengshizhong Education Training School Co.,
Ltd.
	  	  
 91530111MA6NK6QMXU
	  	  
 January 12, 2021

	  
 4
	  	  
 Xinping Hengshi High School Co., Ltd.
	  	  
 91530427MA6NYJBX6L
	  	  
 January 12, 2021
	  	  
 XII.MISCELLANEOUS

4. At the request of a party in dispute, before the arbitral tribunal is formed according to law or under appropriate circumstances, the court of competent
jurisdiction has the right to grant an interim relief to support the process of the arbitration, for example, by seizing or freezing the equity or sponsors’ interests, property interests, or other assets of the breaching party according to a
judgment or a ruling.

	  
 5
	  	  
 Xinping Hengshui Experimental Middle School
	  	  
 52530427MJ00482493
	  	  
 January 12, 2021

	  
 6
	  	  
 Shanxi Long-Spring Enterprise Management Co., Ltd.
	  	  
 91140200MA0KKN7CX9
	  	  
 January 12, 2021

	  
 7
	  	  
 Datong Hengshi Gaokao Tutorial School
	  	  
 52140214MJY4314186
	  	  
 January 12, 2021
	  	
	  
 8
	  	  
 Xishuangbanna Hengshi High School Co., Ltd.
	  	  
 91532800MA6PNKHQ17
	  	  
 January 12, 2021
	  	
	  
 9
	  	  
 Yunnan Hengshui Qiubei Experimental High School
	  	  
 52532626MJT34266XU
	  	  
 January 12, 2021
	  	
	  
 10
	  	  
 Yunnan Hengshui Wenshan Experimental High School
	  	  
 52532601MJT3434278
	  	  
 January 12, 2021
	  	
	  
 11
	  	  
 Mengla Hengshui Experimental High School
	  	  
 52532823MJT3467679
	  	  
 January 12, 2021
	  	
	  
 12
	  	  
 Yunnan Bainian Long-Spring Technology Co., Ltd.
	  	  
 91530111MA6PGFBRXJ
	  	  
 January 12, 2021
	  	
	  
 13
	  	  
 Zhenxiong Bainian Long-Spring Technology Co., Ltd.
	  	  
 91530627MA6PMDQ794
	  	  
 January 12, 2021
	  	
	  
 14
	  	  
 Guizhou Hengshizhong Technology Co., Ltd.
	  	  
 91520900MAAJR4F57R
	  	  
 January 12, 2021
	  	
	  
 15
	  	  
 Guizhou Long-Spring Century Technology Co., Ltd.
	  	  
 91520900MAAJQ4M05Q
	  	  
 January 12, 2021
	  	

  
 25 

 Schedule of Material Differences 

One or more directors signed School Sponsors’ and Directors’ Rights Entrustment Agreement using this form. Pursuant to Instruction ii to Item 601
of Regulation S-K, the Registrant may only file this form as an exhibit with a schedule setting forth the material details in which the executed agreements differ from this form: 

 

											
	No.	  	 Name
	  	 ID Card No.
	  	 Address
	  	 Signing Date
	  	 Material Differences in terms

	 1
	  	Shaowei Zhang	  	[***]	  	[***]	  	January 12, 2021	  	 VI Amendment to the Agreement

2. If relevant regulators propose any modifications to the Agreement, or any changes related to the Agreement have occurred to related laws or listing rules,
the Parties shall revise the Agreement accordingly. 

	 2
	  	Haoyu Guo	  	[***]	  	[***]	  	January 12, 2021
	 3
	  	Kai Liu	  	[***]	  	[***]	  	January 12, 2021
	 4
	  	Jintao Qian	  	[***]	  	[***]	  	January 12, 2021
	 5
	  	Gang Shi	  	[***]	  	[***]	  	January 12, 2021
	 6
	  	Zhuoran Zhang	  	[***]	  	[***]	  	January 12, 2021
						
	 7
	  	Huafeng Yang	  	[***]	  	[***]	  	January 12, 2021	  	 XII.MISCELLANEOUS
 4. At the
request of a party in dispute, before the arbitral tribunal is formed according to law or under appropriate circumstances, the court of competent jurisdiction has the right to grant an interim relief to support the process of the arbitration, for
example, by seizing or freezing the equity or sponsors’ interests, property interests, or other assets of the breaching party according to a judgment or a ruling.

	 8
	  	Pupeng Nan	  	[***]	  	[***]	  	January 12, 2021
	 9
	  	Yunming Tao	  	[***]	  	[***]	  	January 12, 2021
	 10
	  	Shaodong Zhang	  	[***]	  	[***]	  	January 12, 2021
	 11
	  	Chengxiang Wang	  	[***]	  	[***]	  	January 12, 2021
	 12
	  	Yueqi Shi	  	[***]	  	[***]	  	January 12, 2021
	 13
	  	Qi He	  	[***]	  	[***]	  	January 12, 2021
	 14
	  	Lei Tao	  	[***]	  	[***]	  	January 12, 2021
	 15
	  	Shaowen Zhang	  	[***]	  	[***]	  	January 12, 2021

  
 26

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