Lichen China Limited (NasdaqCM:LICN) entered into a purchase agreement to acquire Quanzhou City Lichen Accounting Vocational Training School and Jinjiang Xingminqi Accounting Vocational Training School from Ya Li for $6.92 million on February 27, 2023.

Lichen China Limited (NasdaqCM:LICN) cancelled the acquisition of Quanzhou City Lichen Accounting Vocational Training School and Jinjiang Xingminqi Accounting Vocational Training School from Ya Li on September 12, 2023. The transaction was cancelled after comprehensive consideration on the unsatisfactory performance of Quanzhou City Lichen Accounting Vocational Training School and Jinjiang Xingminqi Accounting Vocational Training School from the due diligence.