On June 28, 2016, China First Capital Group (stock code: 1269) has announced that it is acquiring 106 million shares, or about 3.43% of the total stock issued of Virscend Education Company Limited (stock code: 1565), for a total cost of HK$403 million. The Group plans to pay for the acquisition with a combination of its internal resources, debt instruments, and equity financing.

With the full adoption of the two-child policy and the development of private education as encouraged by the government policies, CFCG will continue to explore the tremendous opportunities in the area of education, invest in and operate education-related businesses with high potential.

Virscend Education was established in 2000 and is a private education services provider engaged in K-12 education. Its main business areas include Chengdu Foreign Languages School, Chengdu Experimental Foreign Languages School, Chengdu Experimental Foreign Languages School (West District), Elementary School Affiliate of Chengdu Foreign Languages School and the Elementary School's nursery. In addition, it also operates an institute – the Chengdu Institute of Sichuan International Studies University. Virscend Education was listed on the HKEX Main Board on January 15, 2016.

CFCG's was originally engaged in the research and development and sales of automobile component. Since the end of 2014 when the Group initiated its diversified development, it has been involved in investments in education, financial services, overseas financial services, and manufacturing. CFCG acquired from independent third parties a 70% stake in Kunming Professional College of Arts ("KPCA") and a 51% stake in Jinan Shijiyinghua Experiment School. On the other hand, it is taking advantage of its own funds to directly invest in new and established education projects. Its projects cover the entire industry chain, including pre-school education, basic education, higher education, vocational education, and international education.