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CFCG Enters into Collaboration Agreement with Kingswood School in the UK
to Jointly Operate Kingswood-branded International Schools in the PRC

2016.12.13

(13 December 2016) China First Capital Group Limited (“CFCG” or the “Group”; stock code: 1269) today announced that it has entered into a collaboration agreement with KW International, a wholly-owned subsidiary of the renowned Kingswood School in the UK. Pursuant to the agreement, both parties have agreed to work together to operate international schools in the PRC.

According to the agreement, CFCG is to be responsible for the provision of suitable premises to properly address the needs of the schools, securing all statutory approvals and licences for each school, ensuring the academic programs, facility design and construction comply with the statutory requirements of the PRC, managing the schools and maintenance of the school buildings, employing staff, marketing and recruiting pupils. KW International is to be responsible for the provision of curriculum, extra-curricular activities, safeguarding and school governance. The overall objective of the collaboration is to establish two “Kingswood International” streams associated with existing private schools and two standalone “Kingswood International” schools from Year 7 to Year 12 leading to IGCSE or GCSE and A level qualifications and entrance to top universities in the UK, the US, Canada and Australia. The timing of the project is subject to further discussion and agreement.

Founded in 1748, Kingswood is a UK-registered charity organization located in Bath, Somerset, England which operates as an independent co-educational boarding and day school. The school has enrolled about 1,000 students aged 3 to 18, of which approximately 20% are boarders. Kingswood School comprises the Kingswood Senior School and the Kingswood Preparatory School and is located on the Northern outskirts of the city of Bath. The campus includes modern as well as historic buildings and there are spacious sports playing fields not far from the main site.

Mr. Victor He, Deputy Chief Executive Officer of CFCG, said, “Private education in the PRC and around the world is currently experiencing rapid growth with promising prospects, and the time is right for the Group to expand its business by seizing market opportunities. Therefore, the Group is actively exploring more quality education projects in the PRC and other countries with high potential in order to span the entire education industry chain. Kingswood School has been established for more than 268 years, and has excellent education resources with a sound reputation. Currently, it is searching for an opportunity in the international market to establish international schools under the Kingswood brand, while the Group is looking for an opportunity to cooperate with renowned British schools. The management believes that through cooperation, we will be able to match the enormous market demand in the PRC through Kingswood School’s high-calibre resources including its education philosophy of striving for excellence, proven education models, well-qualified teachers, advanced curriculum standards and management system. These advantages can support us in jointly establishing a renowned global education brand chain with both local and international characteristics. This initiative can also help promote the brand image and market recognition of the Group in the PRC’s education investment industry, and facilitate the operation optimization and upgrade and the globalization process in the education industry, so that we may generate fruitful returns for shareholders.”