JEP(SZ:000875) Zheng Quan Zhi Xing·2025-07-11 09:26Summary of Key Points Core Viewpoint The announcement details the issuance of a technology innovation corporate bond by Jilin Electric Power Co., Ltd., with a total registered amount not exceeding 3 billion yuan and an issuance amount of up to 1 billion yuan. The bond is aimed at professional institutional investors and will be issued without any guarantees. Group 1: Issuance Details - The bond is named "25 Jidian K1" with a code of "524366.SZ" and will be issued in phases, with the first phase amounting to no more than 1 billion yuan [2][10]. - The bond has a term of 3 years, with a face value of 100 yuan, and will be issued at par [10]. - The bond will be issued without any guarantees, and the issuer's credit rating is AAA with a stable outlook [3][10]. Group 2: Investor Participation - Only professional institutional investors are allowed to participate in the bond issuance, while individual investors are excluded [2][18]. - The minimum subscription amount for professional institutional investors is 10 million yuan, and subscriptions must be in multiples of 10 million yuan [23][24]. - The interest rate for the bond will be determined through a book-building process, with an inquiry range set between 1.50% and 2.30% [4][18]. Group 3: Financial Metrics - As of March 2025, the issuer's net assets amounted to approximately 2.71 billion yuan, with a consolidated debt-to-asset ratio of 69% [3]. - The average annual distributable profit over the last three accounting years was approximately 893.12 million yuan [3]. Group 4: Use of Proceeds - The funds raised from the bond issuance will be used for project construction, repayment of prior loans, replacement of self-owned funds invested in projects, and repayment of interest-bearing debts [15][16]. Group 5: Regulatory Compliance - The bond issuance complies with relevant laws and regulations, and the issuer has committed to not engaging in any unfair practices or conflicts of interest during the issuance process [26][27].