China Chunlai Education Group Co., Ltd. (HK:1969) has released an update.
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China Chunlai Education Group Co., Ltd. has announced a RMB 90 million loan agreement with Zhongyuan Bank to fund the purchase of teaching appliances, with the aim of expanding student capacity and optimizing the company’s liability structure. The loan is secured by guarantees from the company, its holding entity, and an executive director, as well as pledged account receivables from three affiliated educational entities.
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