China Chunlai Education Group Co., Ltd. (HK:1969) has released an update.
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China Chunlai Education Group has disclosed financial assistance agreements, providing loans to Tianping College for campus construction and operations, with a total of RMB718.8 million still outstanding. The loans, unsecured and bearing an annual interest rate of 4.75%, aim to support Tianping College’s transition into a standalone private college and are funded from the company’s working capital.
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