China East Education Sets Up RMB240 Million Connected Loan Facilities for Major Shareholders’ PRC Entities

China East Education Holdings Limited ( (HK:0667) ) just unveiled an update.

China East Education Holdings Limited has entered into three loan framework agreements under which its designated PRC lending subsidiaries will provide revolving loan facilities of up to RMB80 million each, at an annual interest rate of 6%, to PRC companies designated by controlling shareholder and non-executive director Wu Junbao, and executive directors and substantial shareholders Wu Wei and Xiao Guoqing, with an aggregate maximum daily balance of RMB240 million. As these transactions involve connected persons, they are classified as continuing connected transactions under Hong Kong Listing Rules and are subject to reporting and announcement requirements but exempt from circular and independent shareholders’ approval, while related personal guarantees granted by these shareholders to the group are treated as fully exempt financial assistance conducted on normal commercial terms, highlighting both the group’s intra-group financing arrangements and the regulatory framework governing such dealings with major shareholders.

The most recent analyst rating on (HK:0667) stock is a Hold with a HK$7.00 price target. To see the full list of analyst forecasts on China East Education Holdings Limited stock, see the HK:0667 Stock Forecast page.

More about China East Education Holdings Limited

China East Education Holdings Limited is a Hong Kong-listed company in the education sector, operating vocational education and training services in mainland China through various subsidiaries. The group focuses on providing specialized skills training and related education services, and accesses capital markets via its listing on the Stock Exchange of Hong Kong.

Average Trading Volume: 6,116,236

Technical Sentiment Signal: Buy

Current Market Cap: HK$13.06B

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