On April 9, PATEO CONNECT Technology (Shanghai) Corporation (hereinafter referred to as “PATEO CONNECT”) and China Minsheng Banking Corp., Ltd., Wenzhou Branch (hereinafter referred to as“CMBC Wenzhou Branch”) officially signed a Comprehensive Strategic Cooperation Agreement. Li Wenshi, Member of the CPC Committee and Vice President of China Minsheng Banking Corp., Ltd. Head Office, and Ken (Yilun) Ying, Founder and Chairman of PATEO CONNECT, attended the ceremony as witnesses. Lu Jun, Secretary of the CPC Committee and President of CMBC Wenzhou Branch, and Zhu Qing, Co-President of PATEO CONNECT, respectively signed the Comprehensive Strategic Cooperation Agreement on behalf of both parties. The signing signifies that both parties will establish a comprehensive, long-term, and stable bank-enterprise cooperative relationship, jointly ushering in a new chapter of development.

CMBC has agreed to provide PATEO CONNECT and its member units with indicative credit facilities of RMB 2.5 billion. The funds will be primarily used to meet the needs for strategic emerging M&A and industrial M&A encouraged by national policies, providing stable and large-scale capital security for the company’s major target acquisitions and large-scale industrial expansion.

In addition to M&A loans, both parties will engage in deep cooperation across six major areas, including debt issuance and financing, cash management, international settlement and financing, investment banking, personal finance, and other financial services. CMBC will provide PATEO CONNECT with customized integrated financial service solutions and all-around, multi-level financial support.