Chen Lin Education guarantees RMB300m banking facility for subsidiary

Chen Lin Education Group Holdings Limited has provided a guarantee of up to RMB300,000,000 to China CITIC Bank Corporation Limited, Nanchang Branch. This guarantee secures banking facilities for Jiangxi Institute of Applied Science and Technology (JXIAS), a wholly-owned subsidiary of Chen Lin Education.

The board of directors views this guarantee as a strategic move to provide favorable financing resources for JXIAS's business operations, aiming to strengthen its cash flow management. The terms of both the facility agreement and the guarantee were determined through arm's length negotiations, deemed fair and reasonable and in the best interests of the company and its shareholders.

This guarantee is not considered a notifiable or connected transaction under Chapters 14 and 14A of the listing rules. However, the board opted for voluntary disclosure to inform shareholders and potential investors. The bank and its ultimate beneficial owner are independent third parties.