SHANGHAI, Dec. 29,
2023 /PRNewswire/ -- Four Seasons
Education (Cayman) Inc. ("Four Seasons Education" or the
"Company") (NYSE: FEDU), a tourism and education-related service
provider in China, today announced
that the Company has entered into a facility agreement (the
"Facility Agreement") with China Merchants Bank Co.,Ltd.
Singapore Branch for an
uncommitted credit facility up to RMB110
million (in USD equivalent), which will be utilized to
provide credit support for a domestic fixed assets loan (the
"Loan") of RMB90 million.
The Loan will mature 84 months after the date of the Facility
Agreement. The purpose of the Loan is primarily to fund the
construction and development of Wuyuan Siji Gongda Integrated
Practical Study Camp Project.
About Four Seasons Education (Cayman) Inc.
Four Seasons Education (Cayman) Inc. is a service provider of
both tourism and education-related services in China. The Company's program, service and
product offerings mainly consist of non-academic tutoring programs,
school-based tutoring product solutions and training programs for
teachers, study camps and learning trips for students, and travel
agency services for all age groups. For more information, please
visit https://ir.sijiedu.com.
Safe Harbor Statement
This press release contains statements of a forward-looking
nature. These statements, including the statements relating to the
Company's future financial and operating results, are made under
the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. You can identify these
forward-looking statements by terminology such as "will,"
"expects," "believes," "anticipates," "intends," "estimates" and
similar statements. Among other things, management's quotations and
the Business Outlook section contain forward-looking statements.
These forward-looking statements involve known and unknown risks
and uncertainties and are based on current expectations,
assumptions, estimates and projections about the Company and the
industry. Potential risks and uncertainties include, but are not
limited to, those relating to its ability to attract new students
and retain existing students, its ability to deliver a satisfactory
learning experience and improving their academic performance, PRC
regulations and policies relating to the education industry
in China, general economic conditions in China, and the
Company's ability to meet the standards necessary to maintain
listing of its ADSs on the NYSE or other stock exchange, including
its ability to cure any non-compliance with the NYSE's continued
listing criteria. All information provided in this press release is
as of the date hereof, and the Company undertakes no obligation to
update any forward-looking statements to reflect subsequent
occurring events or circumstances, or changes in its expectations,
except as may be required by law. Although the Company believes
that the expectations expressed in these forward-looking statements
are reasonable, it cannot assure you that its expectations will
turn out to be correct, and investors are cautioned that actual
results may differ materially from the anticipated results. Further
information regarding risks and uncertainties faced by the Company
is included in the Company's filings with the U.S. Securities and
Exchange Commission, including its annual reports on Form 20-F.
For investor and media inquiries, please contact:
In China:
Four Seasons Education (Cayman) Inc.
Olivia Li
Tel: +86 (21) 6317-6177
E-mail: IR@fsesa.com
The Piacente Group, Inc.
Jenny Cai
Tel: +86-10-6508-0677
E-mail: fourseasons@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: fourseasons@tpg-ir.com
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SOURCE Four Seasons Education Inc.