Be Friends Holding acquires education tech firm for 180m yuan

Be Friends Holding announced the acquisition of 100% equity interests in Hangzhou Be Friends Education Technology Co., Ltd. for a total consideration of 180.0 million yuan. The acquisition involves a direct purchase of 65.065% equity from various vendors and 100% partnership interest in Longquan Mangyuan Technology Partnership, which holds the remaining 34.935% equity in the target company. The consideration will be paid in two installments, with 50% within 30 business days of completion and the remainder by December 31, 2025, using internal resources.

The acquisition is structured as a disclosable and connected transaction, requiring independent shareholders' approval at an extraordinary general meeting (EGM) on November 7, 2025. The transaction includes a performance guarantee from key vendors ensuring audited consolidated net profits of at least 18.0 million yuan for 2025, 21.0 million yuan for 2026, and 24.0 million yuan for 2027.

The target group, valued at 180.0 million yuan as of June 30, 2025, primarily offers livestreaming e-commerce training and operational solutions. This strategic acquisition is expected to enhance Be Friends Holding's service capabilities, expand its customer reach, and enrich its knowledge reserves in the rapidly growing new media sector.