01969.HK announced that on December 20, 2021, Anyang College (as borrower) and Shangqiu Branch of Central Plains Bank Co., Ltd. (as lender) entered into a loan agreement (the first loan agreement), according to which the lender has agreed to provide Anyang College with a term loan financing of up to RMB300 million in principal.

On the same day, Henan Shangqiu Chunlai Education Group (as borrower) entered into a loan agreement with the lender (as lender), according to which the lender has agreed to provide term loan financing with a principal of up to 90 million yuan to school organizers.

The Group can broaden its financing channels, replenish its operating capital and optimize its debt structure by entering into loan agreements to build its new campus.