Document:

Exhibit 4.70

 

EQUITY TRANSFER FRAMEWORK AGREEMENT

 

by and among

 

Guangdong Country Garden Education Investment
Management Co., Ltd. and others,

 

and

 

Foshan Meiliang Education Technology Co., Ltd.

 

Foshan Zhiliang Education Technology Co., Ltd.

 

Beijing Boteng Education Consulting Co., Ltd.

 

Dated August 13, 2021

 

    

     

    

 

EQUITY TRANSFER FRAMEWORK AGREEMENT

 

(English translation)

 

This equity transfer framework agreement (this
“Agreement”) is entered into by and among the following parties on August 13, 2021 in Shunde District, Foshan City,
Guangdong Province, PRC:

 

	I.	Transferors: 

 

	1.	Guangdong Country Garden Education Investment Management Co., Ltd. (“BGY Education Investment”)

 

Address: Room A216, Tower 1, Guangdong Country
Garden School, West 20th Road, Shunde Country Garden Community, Bijiang Bridge Side, Beijiao Town, Shunde District, Foshan City

 

Legal Representative: Yang Meirong

 

	2.	Baoding Baigou New City Bright Scholar Shenghua Education Consulting Co., Ltd. (“Baoding Baigou”)

 

Address: No. 187 Xingsheng Street, Baigou New
City, Baoding City, Hebei Province

 

Legal Representative: Cheng Jinsheng

 

	3.	Hubei Sannew Education Development Limited (“Hubei Sannew”)

 

Address: Site 51R2, Economic and Technological
Development Zone, Sanew Chinese American School Building

 

Legal Representative: Cheng Jinsheng

 

(BGY Education Investment, Baoding Baigou, Hubei
Sannew, hereinafter collectively referred to as the “Transferors”)

 

    1

     

    

 

	II.	Transferees: 

 

	1.	Foshan Meiliang Education Technology Co., Ltd. (“Meiliang Education”)

 

Address: F5-14, 5/F, Country Garden Center, No.
1 Country Garden Avenue, Country Garden Community, Beijiao Town, Shunde District, Foshan City, Guangdong Province (address declared)

 

Legal Representative: Yang Meirong

 

	2.	Foshan Zhiliang Education Technology Co., Ltd. (“Zhiliang Education”)

 

Address: F5-10, 5th Floor, Country Garden Center,
No. 1 Country Garden Avenue, Country Garden Community, Beijiao Town, Shunde District, Foshan City, Guangdong Province (address declared)

 

Legal Representative: Yang Meirong

 

	3.	Beijing Boteng Education Consulting Co., Ltd. (“Boteng Education”)

 

Address: Room B-0801,7/F, Jianwai SOHO23 (South
Office Building), 39 Dongsanhuan Middle Road, Chaoyang District, Beijing

 

Legal Representative: Chen Zi

 

(Meiliang Education, Zhiliang Education, Boteng
Education, hereinafter collectively referred to as the “Transferees”)

 

WHEREAS

 

1.   Zhuhai
Hengqin Bright Scholar Management Consulting Co., Ltd., BGY Education Investment, the Transferees, Yang Meirong, Yang Wenjie and other
parties entered into a Supplementary Agreement to the Exclusive Management Service and Business Cooperation Agreement on August 13, 2021,
which provides that the Transferees join the Exclusive Management Service and Business Cooperation Agreement as the service receivers,
which also provides that so long as an entity constitutes a subsidiary of BGY Education Investment or any of the Transferees, the transfer
among BGY Education Investment, the Transferees and their respective subsidiaries of all or part of the investment interest in such subsidiary
shall not be deemed as "Add a new subsidiary" as provided for in Article 10.3 of the Exclusive Management Service and Business
Cooperation Agreement, and such entity shall constitute a party to the Exclusive Management Service and Business Cooperation Agreement
on an ongoing basis. Baoding Baigou and Hubei Sannew are subsidiaries of BGY Education Investment as defined in the Exclusive Management
Service and Business Cooperation Agreement.

 

    2

     

    

 

2. Pursuant
to the consensus above, with respect to the change of equity interest in certain subsidiaries, the Transferors and the Transferees agree
as follows (with all transfer of equity interest and transfer of partnership interest hereunder collectively referred to as the “Equity
Transfer” and all equity interest and partnership interest collectively referred to as the “Equity Interest”)

 

Chapter I Equity Transfer Relating to Meiliang
Education

 

BGY Education Investment
agrees to transfer to Meiliang Education the equity interest in the following companies on the following conditions, and Meiliang Education
agrees to accept the transfer of such equity interest on the conditions set forth in this Agreement:

 

1.   BGY
Education Investment agrees to transfer its 100% equity interest in Chengdu Boxuele Education Management Consulting Co., Ltd. to Meiliang
Education at a price of RMB 2,235,000.

 

2.   BGY
Education Investment agrees to transfer its 100% equity interest in Dongguan Qishi Country Garden Kindergarten to Meiliang Education at
a price of RMB 500,000.

 

3.   BGY
Education Investment agrees to transfer its 100% equity interest in Dongguan Qingxi Country Garden Kindergarten to Meiliang Education
at a price of RMB 500,000.

 

4.   BGY
Education Investment agrees to transfer its 100% equity interest in Foshan Shunde Beijiao Country Garden Guilanshan Kindergarten Co.,
Ltd. to Meiliang Education at a price of RMB 500,000.

 

    3

     

    

 

5.   BGY
Education Investment agrees to transfer its 100% equity interest in Dongguan Dongcheng Bright Scholar Kindergarten Co., Ltd. to Meiliang
Education at a price of RMB 500,000.

 

6.   BGY
Education Investment agrees to transfer its 100% equity interest in Huizhou Huiyang Lelebao Shenhui City Kindergarten Co., Ltd. to Meiliang
Education at a price of RMB 500,000.

 

7.   BGY
Education Investment agrees to transfer its 100% equity interest in Guangzhou Zengcheng Fettes College Kindergarten Co., Ltd. to Meiliang
Education at a price of RMB 1,000,000.

 

8.   Baoding
Baigou agrees to transfer its 100% equity interest in Baoding Baigou New City Shenghua Country Garden Kindergarten Co., Ltd. to Meiliang
Education at a price of RMB 1,000,000.

 

9.   BGY
Education Investment agrees to transfer its 19.8425% equity interest in Foshan Yingrui Gaoze Equity Investment Partnership (Limited Partnership)
to Meiliang Education at a price of RMB 43,134,000.

 

Chapter II Equity Transfer Relating to Zhiliang
Education

 

BGY Education Investment
agrees to transfer to Zhiliang Education the equity interest in the following companies on the following conditions, and Zhiliang Education
agrees to accept the transfer of such equity interest on the conditions set forth in this Agreement:

 

1. BGY
Education Investment agrees to transfer its 100% equity interest in Guangdong Lebeimeng Education Consulting Co., Ltd. to Zhiliang
Education at a price of RMB 1.

 

2. BGY
Education Investment agrees to transfer its 100% equity interest in Taishan Lebeimeng Education Consulting Co., Ltd. to Zhiliang
Education at a price of RMB 2,450,000.

 

    4

     

    

 

3. BGY
Education Investment agrees to transfer its 100% equity interest in Guangdong Xingjian Education Co., Ltd. to Zhiliang Education at
a price of RMB 36,000,000.

 

4. BGY
Education Investment agrees to transfer its 100% equity interest in Guangdong Bright Scholar Ivy League Education Science Research
Institute Co., Ltd. to Zhiliang Education at a price of RMB 5,011,026.

 

5. BGY
Education Investment agrees to transfer its 100% equity interest in Guangzhou Xingzhu Information Technology Co., Ltd. to Zhiliang
Education at a price of RMB 597,000.

 

6. BGY
Education Investment agrees to transfer its 100% equity interest in Huidong Silver Beach Education Consulting Co., Ltd. to Zhiliang
Education at a price of RMB 413,000.

 

7. BGY
Education Investment agrees to transfer its 100% equity interest in Guangzhou Huihua Education Consulting Co., Ltd. to Zhiliang
Education at a price of RMB 120,000.

 

8. Hubei
Sannew agrees to transfer its 100% equity interest in Wuhan Mierdun Education Technology Limited to Zhiliang Education at a price of
RMB 1,000,000.

 

Chapter III Equity Transfer Relating to Boteng
Education

 

BGY Education Investment
agrees to transfer to Boteng Education the equity interest in the following companies on the following conditions, and Boteng Education
agrees to accept the transfer of such equity interest on the conditions set forth in this Agreement:

 

1. BGY
Education Investment agrees to transfer its 100% equity interest in Beijing Huanxue International Travel Limited to Boteng Education
at a price of RMB 1.

 

2. BGY
Education Investment agrees to transfer its 100% equity interest in Beijing Huanxue Tianxia International Travel Limited to Boteng
Education at a price of RMB 1,363,462.

 

3. BGY
Education Investment agrees to transfer its 60% equity interest in Jiangxi Leti Yingdi Education Technolohy Limited to Boteng
Education at a price of RMB 2,932,800.

 

    5

     

    

 

4. BGY
Education Investment agrees to transfer its 51% equity interest in Shanghai Huodai Commercial Information Consulting Co., Ltd. to
Boteng Education at a price of RMB 18,455,370.

 

5. BGY
Education Investment agrees to transfer its 100% equity interest in Shanghai Elan Education and Training Co., Ltd. to Boteng
Education at a price of RMB 5,949,000.

 

6. BGY
Education Investment agrees to transfer its 100% equity interest in Shanghai Bolai Training School Co., Ltd. to Boteng Education at
a price of RMB 2,813,000.

 

7. BGY
Education Investment agrees to transfer its 80% equity interest in Chengdu Yinzhe Education and Technology Co., Ltd. to Boteng
Education at a price of RMB 133,248,000.

 

Chapter IV Payment and Closing

 

1. With
respect to all transfer of equity interest hereunder, the Transferee shall be entitled to such equity interest upon the effective
date of this Agreement and thereafter the Transferee shall become the shareholder of the relevant Target Company, and entitled to
exercise all rights of a shareholder.

 

2. The
Transferee shall pay the Equity Interest transfer price to the Transferor within twelve months from the effective date of this
Agreement and the Transferor shall cause the relevant Target Company to complete the registration of equity interest change within
ninety days from the effective date of this Agreement.

 

Chapter V Effectiveness and Alteration

 

1. This
Agreement shall become effective after the Supplementary Agreement to the Exclusive Management Service and Business Cooperation
Agreement becomes effective among the Parties, Zhuhai Hengqin Bright Scholar Management Consulting Co., Ltd., Yang Meirong and Yang
Wenjie, and upon affixation of the company seal of each Party.

 

2. The Parties
agree that, BGY Education Investment shall have the right to unilaterally adjust the price, percentage and closing date of the
Equity Transfer, regardless of whether BGY Education Investment is the transferor in such Equity Transfer.

 

    6

     

    

 

Chapter VI Liability for Breach of Contract

 

If any Party fails
to perform any of its obligations under this Agreement, it constitutes a breach of contract, the non-breaching Party shall have the right
to claim or waive its right to claim liabilities for breach.

 

Chapter VII Force Majeure

 

1. Event of
Force Majeure

 

Force Majeure shall
include but not limited to unforeseeable, irresistible and unavoidable events arising from acts of God, war, terrorist acts, riots, fires,
explosions, earthquakes, epidemics (including relevant administrative measures and government acts), changes to existing laws, regulations
and policies and any other reasons beyond the reasonable control of the affected Party.

 

2. Notices and
Certificates

 

If any Party has
been prevented from performing its obligations under this Agreement due to Force Majeure after the execution of this Agreement, the affected
Party shall notify the other Parties within fourteen (14) Business Days after the occurrence of such event and such notice shall explain
the occurrence and effect of such Force Majeure event. The affected Party shall take all necessary measures to terminate or mitigate the
adverse effect of Force Majeure.

 

3. No Deemed
Breach

 

Any delay or failure
to perform under this Agreement due to an event of Force Majeure shall not constitute a breach by the affected Party and shall not give
rise to any claim for damages, losses or penalties.

 

    7

     

    

 

Chapter VIII Governing Law and Dispute Resolution

 

1. The
execution, validity, interpretation and performance of this Agreement and the settlement of any dispute arising hereunder shall be
governed by the PRC laws.

 

2. In the event
a dispute, controversy or claim (including any issue regarding the existence, validity or termination of this Agreement) arises between
the Parties in connection with the interpretation and performance of the provisions of this Agreement, the Parties shall negotiate in
good faith to resolve such dispute. If any dispute cannot be resolved through negotiation within thirty (30) days after the occurrence
of such dispute, either Party may submit the dispute to the China International Economic and Trade Arbitration Commission for arbitration
in Beijing. The arbitration shall be conducted in Beijing in accordance with the arbitration rules of the arbitration institution then
in effect, and the language of arbitration shall be Chinese. The arbitration award shall be final and binding upon the Parties. The Parties
shall continue to own their remaining rights and perform relevant obligations under this Agreement pending the arbitration. Except for
the portions under arbitration, the remaining portions of this Agreement shall remain in force and effect. The validity of this Section
shall not be affected by any amendment to, rescission or termination of this Agreement.

 

Chapter IX Miscellaneous

 

1. This
Agreement shall be executed in five counterparts with the same legal effect. Each Party shall hold one counterpart.

 

2. The Parties
agree that, if necessary for the completion of change registration formalities with the relevant governmental authorities in
connection with the Equity Interest transfer contemplated by this Agreement, the Parties shall execute a short form equity interest
transfer agreement in the form required by the relevant governmental authorities (the “Short Form Agreement”).
Such Short Form Agreement shall only be submitted to the relevant governmental authorities for the completion of registration and
transaction formalities. The agreements and rights and obligations of the Parties with respect to the Equity Interest transfer shall
be governed by the provisions of this Agreement.

 

    8

     

    

 

(Signature Page of the Equity Transfer Framework
Agreement among Guangdong Country Garden Education Investment Management Co., Ltd., etc., Foshan Meiliang Education Technology Co., Ltd.,
Foshan Zhiliang Education Technology Co., Ltd. and Beijing Boteng Education Consulting Co., Ltd., entered into by the Parties as of the
date first above written)

 

Transferor:

 

Guangdong Country Garden Education Investment
Management Co., Ltd.

 

(Seal) Guangdong Country Garden Education Investment
Management Co., Ltd. affixed

 

	By:	/s/ Meirong Yang	 
	Name: 	Meirong Yang	 
	Title:	Legal Representative	 

 

    9

     

    

 

(Signature Page of the Equity Transfer Framework
Agreement among Guangdong Country Garden Education Investment Management Co., Ltd., etc., Foshan Meiliang Education Technology Co., Ltd.,
Foshan Zhiliang Education Technology Co., Ltd. and Beijing Boteng Education Consulting Co., Ltd., entered into by the Parties as of the
date first above written)

 

Transferee: 

 

Foshan Meiliang Education Technology Co., Ltd.

 

(Seal) Foshan Meiliang Education Technology
Co., Ltd. affixed

 

	By:	/s/ Meirong Yang 	 
	Name: 	Meirong Yang	 
	Title:	Legal Representative	 

 

    10

     

    

 

(Signature Page of the Equity Transfer Framework
Agreement among Guangdong Country Garden Education Investment Management Co., Ltd., etc., Foshan Meiliang Education Technology Co., Ltd.,
Foshan Zhiliang Education Technology Co., Ltd. and Beijing Boteng Education Consulting Co., Ltd., entered into by the Parties as of the
date first above written)

 

Transferee: 

 

Foshan Zhiliang Education Technology Co., Ltd.

 

(Seal) Foshan Zhiliang Education Technology
Co., Ltd. affixed

 

	By:	/s/ Meirong Yang 	 
	Name: 	Meirong Yang	 
	Title:	Legal Representative	 

 

    11

     

    

 

(Signature Page of the Equity Transfer Framework
Agreement among Guangdong Country Garden Education Investment Management Co., Ltd., etc., Foshan Meiliang Education Technology Co., Ltd.,
Foshan Zhiliang Education Technology Co., Ltd. and Beijing Boteng Education Consulting Co., Ltd., entered into by the Parties as of the
date first above written)

 

Transferee: 

 

Beijing Boteng Education Consulting Co., Ltd.

 

(Seal) Beijing Boteng Education Consulting
Co., Ltd. affixed

 

	By:	/s/ Zi Chen	 
	Name: 	Zi Chen	 
	Title:	Legal Representative	 

 

    12

     

    

 

(Signature Page of the Equity Transfer Framework
Agreement among Guangdong Country Garden Education Investment Management Co., Ltd., etc., Foshan Meiliang Education Technology Co., Ltd.,
Foshan Zhiliang Education Technology Co., Ltd. and Beijing Boteng Education Consulting Co., Ltd., entered into by the Parties as of the
date first above written)

 

Transferor:

 

Baoding Baigou New City Bright Scholar Shenghua
Education Consulting Co., Ltd. 

 

(Seal) Baoding Baigou New City Bright Scholar
Shenghua Education Consulting Co., Ltd. affixed

 

	By:	/s/ Cheng Jinsheng	 
	Name: 	Cheng Jinsheng	 
	Title:	Legal Representative	 

 

    13

     

    

 

(Signature Page of the Equity Transfer Framework
Agreement among Guangdong Country Garden Education Investment Management Co., Ltd., etc., Foshan Meiliang Education Technology Co., Ltd.,
Foshan Zhiliang Education Technology Co., Ltd. and Beijing Boteng Education Consulting Co., Ltd., entered into by the Parties as of the
date first above written)

 

Transferor:

 

Hubei Sannew Education Development Limited

 

(Seal) Hubei Sannew Education Development Limited
affixed

 

	By:	/s/ Cheng Jinsheng	 
	Name: 	Cheng Jinsheng	 
	Title:	Legal Representative	 

 

 

14Exhibit 4.71

 

Supplementary Power of Attorney

 

(English translation)

 

I, the undersigned, Meirong
Yang, a P.R.C. citizen, of whom the Identity Card Number is:          , of whom the resident address is:         , holds 95% equity interest in Guangdong
Country Garden Education Investment Management Co., Ltd. (“BGY Education Investment”). I have provided the Power of
Attorney to Zhuhai Hengqin Bright Scholar Management Consulting Co., Ltd. (“WFOE”) on January 25, 2017 (the “Original
Power of Attorney”), irrevocably and exclusively authorizing WFOE or its designated representative(s) (“Entrusted Party”)
to exercise my rights as a shareholder in BGY Education Investment on behalf of myself according to the Entrusted Party’s own will.

 

I hereby add the following authorization:
95% equity interest in Foshan Meiliang Education Technology Co., Ltd., 95% equity interest in Foshan Zhiliang Education Technology Co.,
Ltd., 95% equity interest in Beijing Boteng Education Consulting Co., Ltd., 95% equity interest in Foshan Shangtai Education Technology
Co., Ltd., 95% equity interest in Foshan Renliang Education Technology Co., Ltd., 95% equity interest in Foshan Yongliang Education Technology
Co., Ltd., I hereby authorize the same rights to the Entrusted Party as recorded by the Original Power of Attorney, and undertake the
same promises as recorded in the Original Power of Attorney.

 

Especially, after the Implementation
Rules of the Law on the Promotion of Private Education of the People's Republic of China becomes effective on September 1, 2021, BGY Education
Investment and its subsidiaries, including private schools offering compulsory education, non-profit institutions, companies planning
to host non-profit institutions (“Affected Educational Institutions”) are no longer within the scope of authorization,
and the authorization and matters in the Original Power of Attorney do not apply.

 

This Supplementary Power of
Attorney and the Original Power of Attorney together constitute my complete statement of intent. In case of conflict, this Supplementary
Power of Attorney shall prevail. For matters not recorded in this Supplementary Power of Attorney, the Original Power of Attorney shall
govern.

 

Meirong Yang

 

	/s/ Meirong Yang	 

 

Date: August 13, 2021

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