China East Edu (00667) announced that, on June 11, 2024 (after the trading hours), the company reached a loan framework agreement with Wu Junbao, Wu Wei and Xiao Guoqing, in which the company agrees to provide RMB 50 million daily maximum balance (excluding accrued interest) RMB revolving loan financing through its designated Chinese loan subsidiary to the designated Chinese collection companies of Wu Junbao, Wu Wei and Xiao Guoqing, at an annual interest rate of 7% within the effective period.

The announcement stated that although the loan framework agreement was not entered into in the normal course of the Group's business, the terms of the loan framework agreement (entered into by the company after fair negotiation with its major shareholders) were general commercial terms calculated based on prevailing market rates, and the relevant terms were fair and reasonable and were in the overall interests of the company and shareholders. The provision of the loan in accordance with the loan framework agreement will provide a better return for the group's temporary surplus cash resources and will be beneficial to the overall interests of the group and the shareholders. The loan will be disbursed through the Group's internal resources in China.