If you look around you'll find many many definitions for a flipped class. Initially this idea referred to classes in which the lecture portion of the course was removed from the classroom and delivered online (at home) and the "homework" portion of the class was done in class. This allowed for basic content delivery to happen in any environment (you can sit and watch a video and take notes any where). The valuable class time could be utilized to do actual work applying that knowledge to problems.
In the strict sense, CH301 is not a flipped class. There will still be some content delivery in class. However, it is a hybrid class. In a hybrid class there is work in-class and out-of-class. This has also always been the case as no one ever learned everything they needed to know sitting in a class. On there own, they worked problems, read the text, reviewed notes....So what makes this a hybrid class. There will be learing activities and materials both in-class and online. Outside the class is not just "studying". There might be content that is delivered only online that you will be responsible for in class (and on the exams). Is this any different than requiring readings (on actual paper) before class. Not necessarily but when a computer is involved we like to give things new names. In fact, hybrid is out of vogue at the moment and blended class is all the rage.
What does it all mean for you? There will be things happening in class that you won't want to miss. There will be online assignments that you won't want to skip. The in-class and out-of-class assignments will all work together to support your learning.