Core Viewpoint - The company has entered into a trust agreement with China Resources Trust to establish a trust and issue asset-backed commercial papers, which aims to diversify fundraising channels and improve the financing structure [1][2]. Group 1: Trust Agreement and Asset-Backed Commercial Papers - On November 24, 2025, the company signed a trust agreement with China Resources Trust, allowing the company to conditionally entrust underlying assets to establish a trust, issue asset-backed commercial papers, and manage the trust property [1]. - The underlying assets include rights, interests, and benefits related to receivable subsidies, as well as all income from the disposal of these receivables [1]. Group 2: Financial Strategy and Benefits - The board believes that the issuance of the second asset-backed commercial papers will diversify the company's fundraising channels, improve its financing structure, and enhance operational activities and investments [2]. - This initiative is expected to reduce accounts receivable balances and optimize the company's debt-to-asset ratio, accelerating the overall turnover of the company's assets [2]. - The board asserts that the contracts related to the trust agreement are fair and reasonable, aligning with the overall interests of the company and its shareholders [2].
京能清洁能源与华润信托订立信托合同