China General Education Group Ltd. has provided a supplemental announcement regarding its acquisition of 100% equity interest in Guangzhou Tongmeng Art Education Consulting Co., Ltd. The update confirms that the valuation of the target company, which involved discounted future estimated cash flows, has been reviewed by both the board of directors and independent reporting accountants. The board stated that the valuation was made after due and careful enquiry, and the supplemental information does not affect other details previously disclosed about the transaction.
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