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Short-Term Borrowings | 12 Months Ended
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Dec. 31, 2024
Short-Term Borrowings [Abstract] |
Short-term borrowings | 10. SHORT-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
January 9, 2024 |  | Ambow Education Inc. |  | Cathay Bank |  |  | 1,200 |  |  |  | 6.00 | % |  | December 27, 2025
October 11, 2022 |  | Ambow Education Inc. |  | Cathay Bank |  |  | 1,500 |  |  |  | 6.29 | % |  | October 10, 2025
In October 2022 and January 2024, the Group 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. On October 11, 2022, the Group received a loan from Cathay Bank in the amount of $1,500 with a maturity date of October 11, 2023, which was renewed on November 6, 2023 with its original maturity date of October 11, 2024 and bearing interest at 6.29% per annum. On January 9, 2024, the Group received a loan from Cathay Bank in the amount of $1,200 with its original maturity date of December 28, 2024 and bearing interest at 6.00% per annum. The above loans from Cathay Bank were renewed respectively in September and November 2024 to a renewed maturity date of October 10, 2025 and December 27, 2025. The pledges shall be terminated once all borrowings have been repaid and pledge cancellation registration procedures have been completed.

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- Definition The entire disclosure for short-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/470/tableOfContent + Details
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