CHEN LIN EDU provides guarantees to its subsidiary company for bank credit to be used by the Institute of Science and Technology
CHEN LIN EDU announced that it has provided a guarantee of up to 300 million yuan to CITIC BANK Nanchang Branch, aimed at ensuring that its wholly-owned subsidiary, Jiangxi University of Applied Science and Technology, fulfills its obligations under the financing agreement. The board of directors believes that this move will provide favorable financing resources for the operations of the university and strengthen its cash flow management
According to the Zhitong Finance APP, CHEN LIN EDU (01593) announced that the company has provided a guarantee of up to RMB 300 million to CITIC BANK Co., Ltd. Nanchang Branch (the bank). This guarantee aims to ensure that the company's wholly-owned subsidiary, Jiangxi Applied Science and Technology College (AITO) (as the borrower), properly fulfills its obligations as stipulated in the bank financing agreement (financing agreement) signed with the bank (as the lender).
The board of directors believes that the purpose of signing the financing agreement and providing the guarantee is to provide favorable financing resources for the business operations of AITO to strengthen its cash flow management
