v3.26.1
Short-Term and Long-Term Borrowings (Tables)
 6 Months Ended
Jun. 30, 2026
Short-Term and Long-Term Borrowings [Abstract]  
Schedule of Short-Term and Long-Term Borrowings

The following table sets forth the loan agreement of short-term borrowing from bank:

 

Date  Borrower  Lender  Amount
($)		   Annual
Interest Rate		   Repayment Due
Date
June 12, 2025 (Note i)  NewSchool of Architecture & Design  EverTrust Bank   500    6.75%  Based on the actual repayment

 

(Note i) In April 2025, the Company entered into a loan agreement with EverTrust Bank for a revolving line of credits $2,500. The loan bears variable interest at the prime rate minus 0.75% with monthly interest payments commencing May 1, 2025. The outstanding balance under the loan agreement is secured by substantially all assets of the NewSchool and is guaranteed by the Company. As of June 30, 2026, the outstanding balance under the loan agreement was $500.

 

The following table sets forth the loan agreement of long-term borrowing from bank:

 

Date  Borrower  Lender  Amount
($)		   Annual
Interest Rate		   Repayment Due
Date
January 9, 2024 (Note ii)  Ambow Education Inc.  Cathay Bank   1,200    6.00%  December 27, 2027
October 11, 2022 (Note ii)  Ambow Education Inc.  Cathay Bank   1,500    6.29%  October 11, 2027

 

(Note ii) In October 2022 and January 2024, the Company pledged its restricted cash amount of $1,500 and $1,200, respectively, to obtain the borrowings amount of $1,500 and $1,200 from Cathay Bank. Refer to the Note 4-Cash, Cash Equivalents and Restricted Cash.