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  "presentationDate": "2018-06-13 00:00:00",
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      "text": "The below is the SAIC record for Minqing showing Yang Zhang’s wife as the controlling shareholder, having incorporated it just two weeks before the transfer:",
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      "text": "In November 2016, TAL took its stake up to 80% by buying out FreeS Fund, which was a venture fund founded in September 2015.55,56 The table below shows the progression of TAL’s investment in Shunshun, with corresponding fair value calculations on the left. The",
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      "text": "55 According to its China SAIC files, the FREEs Fund entity which invested in Shunshun, 上海峰瑞创业投资中心 (有限合伙) , was established in September 17, 2015. 56 TAL 2016 20F, p. F-48",
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      "text": "SAIC record for Fuzhou Minqing Forest Park Business Center",
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