CHEN LIN EDU (01593) Provides Guarantee for Bank Credit Facility to Subsidiary

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Sep 22

CHEN LIN EDU (01593) announced that the company has provided a guarantee of up to RMB 300 million to CITIC Bank Co., Ltd. Nanchang Branch (the Bank). This guarantee is intended to ensure that the company's wholly-owned subsidiary, Jiangxi Institute of Applied Science and Technology (the Institute), as the borrower, properly fulfills its relevant obligations under the bank financing agreement (the Financing Agreement) signed with the Bank as the lender. The Board of Directors believes that the purpose of entering into the Financing Agreement and providing this guarantee is to provide favorable financing resources for the Institute's business operations and strengthen its cash flow management.

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