Zhitong Financial App News, China Chunlai (01969) notice, on December 20, 2021, Anyang College (as borrower) and Shangqiu Branch of Zhongyuan Bank Co., Ltd. (as lender) entered into a loan agreement (the first loan agreement). The lender has agreed to provide Anyang College with a fixed-term loan financing (the first loan) with a principal of up to RMB300 million.

On December 20, 2021, Henan Shangqiu Chunlai Education Group (school sponsor) (as borrower) and the lender (as lender) entered into a loan agreement (together with the first loan agreement collectively referred to as the "loan agreement"). The lender has agreed to provide the school sponsor with a term loan financing (the second loan) with a principal of up to RMB 90 million.

According to the announcement, the above two loans have an annual interest rate of 6.00%, both of which are used to purchase teaching equipment. 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.