1. The loan is between a lender and ETAH's subsidiary. it makes sense that ETAH is the Guarantor of the loan.
2 and 3, those two company entities is necessary for any mainland Chinese company to list overseas. It has to be something like
US-LISTING COMPANY A owns 100% of Cayman Islands company B Cayman Islands company B owns 100% of Hongkong company C Hongkong company C owns the target Chinese mainland company D, which is the one that eventually merge in
If you are still unclear, you can check Alibaba's company structure
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