The board of directors of Tongcheng-Elong Holdings Limited announced that on October 27, 2021, the company, as borrower, eLong Net Information Technology (Beijing) Co. Ltd. and Suzhou Longyue Tiancheng Venture Capital Group Co., Ltd, subsidiaries of the company, as guarantors, entered into a facility agreement with Standard Chartered Bank (Hong Kong) Limited, as mandated lead arranger, bookrunner, underwriter and agent pursuant to which the Lead Arranger, Bookrunner, Underwriter and Agent agreed to make available a term loan facility in an amount of USD 300,000,000 to the borrower for a term of 36 months from the first utilisation date under the facility agreement. The company currently intends to apply the proceeds under the facility for general corporate funding purposes of the group, including funding business development of the group and working capital needs, provided that the proceeds under the facility shall not be used in a manner or for a purpose prohibited or otherwise restricted by any regulation relevant to the National Development and Reform Commission of the People 's Republic of China, State Administration of Foreign Exchange of the People's Republic of China and any other Governmental Agency in the People's Republic of China.