Jianzhi Education Technology Group Limited's

The VIEs' products may compete with each other due to overlapping content, potentially limiting overall growth. They face risks such as customer dissatisfaction, pricing pressure, and competition from rivals offering longer trial periods, which may reduce conversion rates from trial to paying users. Customers may discontinue subscriptions if dissatisfied or if they perceive insufficient skill improvement. The VIEs and the company may encounter regulatory actions, litigation, and adverse conduct from competitors, including complaints to regulatory agencies and public negative assessments, which could harm their reputation, market share, and financial performance. The VIEs depend on agents for distribution, who may switch to competitors offering better terms, increasing costs and affecting financial condition. Reductions in government funding for higher education institutions could materially impact the VIEs' business. Additionally, the company and VIEs may be subject to anti-competitive or harassing conduct by competitors, such as anonymous complaints and online allegations, potentially resulting in investigations and significant expenses.