Offcn Education subsidiary secures 16m yuan loan, group provides guarantees

Offcn Education Technology announced that its wholly-owned subsidiary, Xiangtan Offcn Future Technology Co. Ltd., has entered into a working capital loan agreement with China Construction Bank Xiangtan Branch for 16 million yuan. The loan has a 36-month term with a floating interest rate based on LPR plus 0 basis points.

This loan is part of a broader comprehensive credit and guarantee facility totaling up to 5 billion yuan, approved by Offcn Education Technology's board of directors and shareholders. The comprehensive credit line allows for flexible allocation among the company and its subsidiaries.

Offcn Education Technology and its subsidiary, Shandong Kunzhong Yuhua Technology Co. Ltd., provided maximum guarantee and collateral for this specific loan. The maximum guarantee liability is 18 million yuan, and the maximum collateral liability is 37.41 million yuan, backed by real estate assets. As of the announcement date, the total outstanding external guarantees by the company and its consolidated subsidiaries amount to 1,307.41 million yuan, representing 180.48% of the latest audited net assets.