DASHAN EDU (09986) announced that all conditions precedent under the sale and purchase agreement (as amended and supplemented) for the acquisition of a 52% stake in Spark Media International have been fulfilled. The transaction was completed on December 1, 2025, in accordance with the agreement terms. Following the completion, the company now holds 52.0% of the target company's total equity, while Seller A retains 18.8% and Seller B holds 29.2%. Additionally, as per the agreement, DASHAN EDU issued 60 million new shares at HK$1.04 per share to Seller A as Consideration A and 40 million new shares to Seller B as Consideration B.