Hailiang Education Group Inc.

Ladies and gentlemen, thank you for standing by. Welcome to Highly Young Education Group's annual meeting of shareholders for fiscal year 2020 conference call. During today's presentation, all parties will be in a listen-only mode. This conference has been recorded today, Tuesday, June 23, 2020, Beijing Standard Time, Monday, June 22, 2020, U.S. Standard Time. Joining us today from Hai Liang Education Group are the company's chairman and chief executive officer, Mr. Ming Wong, the company's chief financial officer, Mr. Jiang Gu Yu, and the company's board secretary, Mr. Letai Chu. I would like to remind our listeners who are on this call, management's prepared remarks contain forward-looking statements which are subject to risks and uncertainties, and management may make additional forward-looking statements in response to your questions. Therefore, the company claims the protection of the safe harbor for forward-looking statements as contained in the Private Security and Litigation Reform Act of 1995. Highly Young Education is under no obligation to update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise. At this time, I would like to turn the call over to Mr. Ming Wong Chairman and CEO of Hialeah Education Group. His remarks will be delivered in English by the translator. Mr. Wong, please go ahead.

Hello, ladies and gentlemen. Good morning, everyone. I am Wang Ming, the CEO and chief executive officer of Hialeah Education Group. It is a great honor to be able to invite

Good morning, ladies and gentlemen. I am Ming Wang, Chairman of the Board and the Chief Executive Officer of Haliang Education Group, Inc. It is a pleasure to welcome you to the annual meeting of shareholders. Our agenda includes four items. that are on the proxy for shareholders to vote us.

Please allow me to introduce the managers of this meeting. Mr. Yijian Guo, the chief financial officer. Mr. Qiu Litao, the secretary of the board of directors. Finally, the foreign legal adviser of the company, Ms. Li Ying from Hanbo Wen Law Firm.

Before proceeding further, let me introduce to you the corporate officers who are in attendance today. Mr. Jian Gu Yu, our CFO. Mr. Li Taochiu, our Secretary of the Board. And finally, I would like to introduce Ms. Ying Li from our outside counsel, Hunter Tumbleman, Fletcher, and Li LLC.

The conference will be held on the basis of the organization's review and the company's approval. There will be four stages of the conference. What will they choose? Elect Mr. Chen Jiwei as a member of the board of directors. Again elect four members of the board of directors of the company. Authorize the board of directors to determine the board's schedule. 4.

Let me begin by calling our annual meetings of shareholders to order. We are conducting this meeting in accordance with the company's memorandum and articles of association as amended. We have four business items on the agenda. They are, number one, to elect Mr. Junwei Chen as a member of the company's board of directors. Number two, to re-elect four members of company's board of directors. Item three, to authorize the board of directors to fix remunerations of the directors. And number four, to approve, rectify, and confirm the appointment of KPMG Wazheng LLP as company's independent accountant for the fiscal year ending June 30th of 2020. Topics of proxy notice and a statement will be filed with the minutes of this meeting. Mr. Jiang Boyu, our CFO, will serve as our inspector of elections for this year's meeting and has signed the oath of office. The oath of inspector will also be filed with the minutes of the meeting.

The candidate has a share of the share of the share of the share of the share of the share of the share of the share of the share of the share On the registration day of voting qualifications, voters will be informed further. Before this meeting starts, we have 412,455,0256 stocks, ordinary stocks, to vote in person or to be invested by the agent. This represents 100% of the company's ordinary stocks. This is a sufficient number of stocks to constitute the legal number. Therefore, this meeting is legal and effective.

The inspector of the election has in his possession a list of companies shareholders as recorded as of May 21st, 2020. And he has advised me that as of May 21st of 2020, there are 412,450,256 ordinary shares issued and understand each entitled to one vote. May 21st, 2020 was the report date set by the board of directors to determine the eligibility to vote at today's meeting. The inspector of elections has further informed me that immediately prior to the commencement of this meeting, we have 412,456 ordinary shares present in person or by proxy. This represents 100% of ordinary shares of the company. which is a sufficient number of shares to constitute a quorum. Accordingly, this meeting is duly constituted.

We will vote by proxy ballot today. If you have turned in your proxy and do not intend to change your vote, then it is not necessary that you vote again because we will count your proxy.

Those of you who wish to change your vote, to raise your hand, we will distribute to you a blank proxy to use for voting. We will collect those proxies at the end of the formal business part of the meeting. We would now like to begin the formal business of the meeting.

The first agenda is the board election. There are currently five members of the board. I have expressed to the company that I personally hope to retire or resign as chairman of the board and CEO of the company. The company's administration and committee has proposed that Mr. Chen Jingwei be elected as the board. This is the first proposal of the commissioning vote. According to the second to five proposals in today's commissioning vote, the other four current directors will seek to be re-elected. As a general shareholder of the collective vote, there are five directors who have the right to be appointed. Each selected or re-elected director will continue to take office until the next shareholder meeting. The first order of business is the election of directors. The board of directors currently has five members

I have expressed my desire to retire and therefore resign as the chairman and CEO of the company. The company's corporate governance and their nominating committee has recommended Mr. Junlei Chen to be elected as a new member of the board of directors, representing proposal number one of the proxy station. The other four current directors will seek re-elections at today's meeting representing proposals number two through five of proxy statements. The ordinary shareholders voting as a class have the right to elect or re-elect those five directors. Each director to be elected or re-elected will hold office until the next annual general meeting of shareholders or until his or her appointment is otherwise terminated in accordance with the article of association of the company. The directors to be elected or reelected for the board of directors are named in your proxy statement, and the board of directors unanimously recommends that you vote for the election of each of the five nominees.

The second order of business represents proposal number six of the proxy statement and is authorized

the Board of Directors to fit the remuneration of the directors. The Board of Directors unanimously recommends that you vote for the authorization of the Board of Directors to fit the remuneration of the directors.

The third question is the seventh question in the voting process. will agree to approve and confirm the appointment of Bi Ma Wei Huazheng Accounting Office as an independent reviewer for the company by June 30, 2020. Bi Shouquan's board will confirm its decision. According to the recommendation of the review committee, the board will appoint Bi Ma Wei Huazheng Accounting Office to review the company's financial reports. Please approve the appointment. The board will also recommend that you vote in favor. Approve the appointment of Bi Ma Wei Huazheng Accounting Office as an independent reviewer for the company.

The third order of business represents the proposal number seven of the proxy statement. It is to approve, rectify, and confirm the appointment of KPMG Hwa Chung, LLP as the company's independent auditor for the year ending June 30th of 2020, and to authorize the board of directors to fix their remediation. The board of directors acting upon the recommendation of its audit committee has appointed KPMG Huazheng LLP to audit the financial statement of the company and is asking that you rectify this appointment. The board of directors unanimously recommends that you vote for the rectification of the appointment of KPMG Huazheng LLP as independent auditor of the company.

Now, I will ask for a final call of proxies. Please pass your proxy to our staff or we will have them collect it.

and recorded by the inspector of the elections. I will then ask Mr. Lin Tao-Chiu, the secretary of the company, to report the result of the votes.

We will now take five minutes intermission to tally the votes. Dial-in participants, please hold for the votes to be collected.