SCHEDULE 13G/A 0001653246-20-000001 0001653246 XXXXXXXX LIVE 6 Class A Ordinary Shares, par value US$0.00005 per share 12/31/2024 0001723935 Sunlands Technology Group 86740P207 BUILDING 4-6, CHAOLAI SCIENCE PARK BUILDING 4-6, CHAOLAI SCIENCE PARK BEIJING F4 100012 Rule 13d-1(d) AREO HOLDINGS LTD D8 309326.00 309326.00 309326.00 11.5 HC DIAMOND TOWER INVESTMENTS LIMITED D8 309326.00 309326.00 309326.00 11.5 CO ORCHID ASIA VI, L.P. E9 293860.00 293860.00 293860.00 10.9 PN ORCHID ASIA V CO-INVESTMENT, LIMITED E9 15466.00 15466.00 15466.00 0.6 CO OAVI HOLDINGS, L.P. E9 293860.00 293860.00 293860.00 10.9 HC ORCHID ASIA VI GP, LIMITED E9 293860.00 293860.00 293860.00 10.9 HC ORCHID ASIA V GROUP MANAGEMENT, LIMITED E9 293860.00 293860.00 293860.00 10.9 HC ORCHID ASIA V GROUP, LIMITED E9 293860.00 293860.00 293860.00 10.9 HC LAM LAI MING K3 3476.00 309326.00 3476.00 309326.00 312802.00 11.6 IN Sunlands Technology Group BUILDING 4-6, CHAOLAI SCIENCE PARK, BUILDING 4-6, CHAOLAI SCIENCE PARK, BEIJING, CHINA, 100012. This Schedule 13G (the "Schedule 13G") is being jointly filed by the following persons (collectively, the "Reporting Persons" and each a "Reporting Person"): (i) Diamond Tower Investments Limited; (ii) Orchid Asia VI, L.P.; (iii) Orchid Asia V Co-Investment, Limited; (iv) OAVI Holdings, L.P.; (v) Orchid Asia VI GP, Limited; (vi) Orchid Asia V Group Management, Limited; (vii) Orchid Asia V Group, Limited; (viii) AREO Holdings Limited; and (ix) Ms. Lam Lai Ming The address of principal business office of Diamond Tower Investments Limited and AREO Holdings Limited is: c/o Vistra Corporate Services Centre Wickhams Cay II, Road Town Tortola, VG 1110, British Virgin Islands The address of principal business office of Orchid Asia VI, L.P., OAVI Holdings, L.P., Orchid Asia VI GP, Limited, Orchid Asia V Group Management, Limited, Orchid Asia V Group, Limited is: c/o Maples Corporate Services Limited PO Box 309, Ugland House Grand Cayman, KY1-1104 Cayman Islands The address of principal business office of Orchid Asia V Co-Investment, Limited is: c/o Corporate Management Solutions (Cayman) ltd. Two Artillery Court, 2/F, 161 Shedden Road PO box 799, George Town Grand Cayman, KY1-1103 Cayman Islands The address of principal business office of Ms. Lam Lai Ming is: c/o Suite 5612, 56th Floor, The Center, 99 Queen's Road Central, Central, Hong Kong. The citizenship or place of organization of each of the Reporting Persons is set forth on such Reporting Person's cover page. Y The information set forth in Rows 5 through 11 of the cover pages to this Schedule 13G is incorporated herein by reference for each Reporting Person. The information set forth in Rows 5 through 11 of the cover pages to this Schedule 13G is incorporated herein by reference for each Reporting Person. The information set forth in Rows 5 through 11 of the cover pages to this Schedule 13G is incorporated herein by reference for each Reporting Person. The information set forth in Rows 5 through 11 of the cover pages to this Schedule 13G is incorporated herein by reference for each Reporting Person. The information set forth in Rows 5 through 11 of the cover pages to this Schedule 13G is incorporated herein by reference for each Reporting Person. The information set forth in Rows 5 through 11 of the cover pages to this Schedule 13G is incorporated herein by reference for each Reporting Person. Y Y N Diamond Tower Investments Limited, Orchid Asia VI, L.P. and Orchid Asia V Co-Investment, Limited are part of Orchid Asia V Group, Limited, an investment complex that focuses on companies in Asia and China in particular. Orchid Asia VI, L.P. and Orchid Asia V- Co Investment, Limited are the immediate shareholders of Diamond Tower Investments Limited. OAVI Holdings, L.P. is the general partner of Orchid Asia VI, L.P. Orchid Asia VI GP, Limited is the general partner of OAVI Holdings, L.P. which is in turned a wholly owned subsidiary of Orchid Asia V Group Management, Limited. Orchid Asia V Group Management Ltd. is a wholly-owned subsidiary of Orchid Asia V Group, Limited and is also the investment manager of Orchid Asia VI, L.P. Orchid Asia V Group, Limited is a wholly-owned subsidiary of AREO Holdings Limited. AREO Holdings Limited is wholly-owned by Ms. Lam Lai Ming. AREO Holdings Limited is also the controlling shareholder of Orchid Asia V Co-Investment, Limited. Y Y Y Exhibit A - Joint Signing Agreement AREO HOLDINGS LTD Gabriel Li 01/15/2025 DIAMOND TOWER INVESTMENTS LIMITED Gabriel Li 01/15/2025 ORCHID ASIA VI, L.P. Gabriel Li 01/15/2025 ORCHID ASIA V CO-INVESTMENT, LIMITED Gabriel Li 01/15/2025 OAVI HOLDINGS, L.P. Gabriel Li 01/15/2025 ORCHID ASIA VI GP, LIMITED Gabriel Li 01/15/2025 ORCHID ASIA V GROUP MANAGEMENT, LIMITED Gabriel Li 01/15/2025 ORCHID ASIA V GROUP, LIMITED Gabriel Li 01/15/2025 LAM LAI MING Lam Lai Ming 01/15/2025