About TOP EDUCATION Company

Australia Chengfeng Higher Education Group Co., Ltd. operates as the Top Education Institute (“Company” or “TOP”) and is one of Australia's leading private higher education institutions. TOP has been registered with the National Higher Education Quality and Standards Agency (“Higher Education Quality and Standards Agency”), and was also approved by the Higher Education Quality and Standards Department in May 2018 as a self-certification authority (“self-certification authority”) for courses in the field of management and business, covering levels 5 to 9 of the Australian Qualifications Framework (including undergraduate and postgraduate degree programs). In this field, TOP's Sydney Business School provides quality courses for undergraduate and graduate students. The relevant courses are also accredited by major professional bodies such as the Australian Institute of Certified Public Accountants and the Institute of Chartered Accountants of Australia and New Zealand, and was certified by the British Institute of Chartered Certified Accountants (UK Institute of Chartered Certified Accountants) during the reporting period. TOP also founded the first law school in a private higher education institution when the Higher Education Quality and Standards Authority and NSW LPAB officially certified its law degree program. Furthermore, as an internationally recognized institution, TOP has been included in the Chinese JSJ list as one of the 42 recommended Australian universities and higher education institutions since 2010, and has been included in the Thai Civil Service Commission Office list since 2015. In May 2016, PwC's nominee (as the representative of PwC Australia) invested in TOP as a shareholder. Australia's PwC signed an alliance agreement with TOP, which expires on March 31, 2023. Before it expires, the two sides may agree to extend the term of the alliance agreement for a further period of time, or amend its terms during the extended period. According to the alliance agreement, PwC Australia agreed to provide a number of services to help expand TOP's academic and non-academic courses in Australia.