Alpha DX Group Completes Acquisition of DiDi Academy

Alpha DX Group Limited, ("Alpha DX", the "Company" and together with its subsidiaries, the "Group"), a premier learning and education solution company, is pleased to announce that it completed the acquisition of DiDi Academy as approved by the Company's shareholders via an EGM held on 8 September 2021.

Separately, under the Addendum to the MOU ("Addedum"), DiDi Academy has been appointed as a service provider in "Next Generation" University - the Asnaro University of Uzbekistan ("PROJECT ASNARO"), the project Alpha DX entered into a memorandum of understanding ("MOU") with the Republic of Uzbekistan (Ministry of Higher Education and Secondary Specialized Education of Uzbekistan) ("Uzbek MHSSE") to build and operate together, as previously announced.

Furthermore, DiDi Academy will also develop collaborations and partnerships between Universities in Uzbekistan and Universities in Japan to facilitate various joint programs, including but not limited to, such as student exchange programs and joint degree programs among partner Universities in both countries.

Subject to the entry of binding agreements, Didi Academy is expected to receive agreed fees of no less than US$1.56 million over a five-year period to provide representations and campuses in Japan for Universities in Uzbekistan, on top of additional service fees from such joint programs.

DiDi Academy is also in advanced stage of negotiations for formal collaborations and partnership with several academic institutions and businesses in Japan to offer EduTrust certified educational and training programs to students and working professionals in Japan through a new licensing agreement that is in discussions with ERC Institute Pte. Ltd. ("ERCI").

As one of the leading higher education & learning private institutions in Singapore, ERCI is engaged in the business of providing various EduTrust certified academic programs through collaborations with global institutions, which includes Advanced Diploma Programs, Bachelor's Degree Programs, Master's Degree Programs and corporate training services.

Alpha DX's CEO, Mr Daiji Yamada, said, "As a pioneer in offering alternative choices in the academic path for students in Japan, DiDi Academy has the first mover advantage within Japan's education market which has a combined market size of approximately S$91 billion per annum, comprising domestic education service of S$33 billion and higher education (Universities and Colleges) of S$58 billion.

Utilising our extensive range of digital technology to deliver the education and training programs will create a new emerging blue ocean segment within the massive education and learning market in Japan, hence DiDi Academy is expected to undertake a key strategic role in the Group's growth plans ahead."

The Company will continue to provide timely updates to shareholders as each new arrangement and partnership is being finalised and executed.