Core Viewpoint - Guangzhou Development Group Co., Ltd. has made significant decisions regarding land storage, bond issuance, and property leasing, aiming to enhance its operational capacity and financial structure [1][2][8]. Group 1: Land Storage Decision - The board unanimously approved the decision to sign a compensation agreement for land acquisition related to the urban renewal project in the Luochongwei area, aligning with government planning [1][2]. Group 2: Bond Issuance - The board confirmed that the company meets the conditions for issuing corporate bonds and proposed to hold a temporary shareholders' meeting for approval [2][3]. - The bond issuance plan includes a total face value of up to 10 billion RMB, with a maturity of no more than 15 years, and the specific interest rate will be determined based on market conditions [2][5]. - The funds raised will be used for daily operations and industrial development, including capital injection into subsidiaries and debt repayment [6][7]. Group 3: Property Leasing - The board approved a property leasing agreement between a wholly-owned subsidiary and Guangzhou Industrial Investment Holding Group, with a rental period starting from August 1, 2025, and a total rental amount of 4.2854 million RMB [9][10]. Group 4: Other Financial Instruments - The board agreed to apply for the issuance of medium-term notes not exceeding 8 billion RMB and super short-term financing bills not exceeding 6 billion RMB, with specific terms to be determined based on market conditions [8][9].

股票简称：广州发展 股票代码：600098 公告编号：临 2025-048 号 企业债券简称：G17 发展 1 公司债券简称：21 穗发 01、21 穗发 02、22 穗发 01 企业债券代码：127616 公司债券代码：188103、188281、185829 广州发展集团股份有限公司 关于公开发行公司债券预案的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记 载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完 整性承担法律责任。 广州发展集团股份有限公司（以下简称"公司"）于 2025 年 7 月 30 日召开了公司第九届董事会第十六次会议，审议通 过了公司拟公开发行公司债券相关事项。为实现公司产业规 模的有序扩张、拓宽融资渠道、进一步改善公司债务结构， 根据《公司法》、《证券法》、《公司债券发行与交易管 理办法》等有关法律、法规的规定，并结合目前债券市场 和公司的资金需求情况，公司拟向中国证券监督管理委员 会申请注册发行不超过人民币 60 亿元（含 60 亿元）的公 司债券。 一、 关于公司符合发行公司债券条件的说明 根据《中华人民共和国公司法》、《中华人民共和国 证券法》、《公司债券 ...

Group 1 - The issuer, Beijing Enterprises Water Group, has received approval from the China Securities Regulatory Commission to publicly issue corporate bonds up to RMB 10 billion [1] - The current issuance is a follow-up to previously issued bonds, specifically the "Water YK02" bonds, with a total issuance scale of up to RMB 800 million [1] - The bonds have a base term of 5 years and an initial coupon rate of 2.42%, with the first interest period starting on May 8, 2025 [1] Group 2 - The pricing for the "Water YK02" bonds was set at RMB 100.67, following a book-building process conducted on July 24, 2025 [2] - The bonds will be issued to investors from July 25 to July 28, 2025 [2]

Core Viewpoint - Shanxi Securities Co., Ltd. is issuing a public bond of up to RMB 1 billion aimed at professional investors, with a credit rating of AAA, and no specific bond rating assigned [1][4][5]. Company Overview - The company has a net asset value of RMB 18.516 billion as of March 31, 2025, with a consolidated debt-to-asset ratio of 66.07% [4]. - The average net profit attributable to the parent company over the last three years is RMB 635 million [4]. Bond Issuance Details - The bond issuance is confirmed to be free from any false statements or omissions, with the main underwriters being Zhongde Securities and CITIC Securities [2]. - The bond will be issued without any guarantees and will be priced through methods such as inquiry, bidding, or agreement pricing [2][5]. Regulatory Compliance - The bond issuance is subject to the regulations of the China Securities Regulatory Commission and the Shenzhen Stock Exchange, which do not evaluate the investment value or risks of the bonds [3]. - The issuer commits to fair information disclosure and compliance with legal obligations [2][3]. Financial Performance - The company reported net cash flows from operating activities of RMB 1.226 billion, RMB 926 million, and RMB 8.066 billion for the years 2022, 2023, and 2024 respectively [10]. - The company’s financial health is indicated by timely repayment of all debts, with no adverse impact expected from the recent increase in borrowings [12]. Market Position and Risks - The company faces competition from other financial institutions, including commercial banks and insurance companies, which may affect its market position [6]. - The securities industry is experiencing a shift towards scale, differentiation, and internationalization, which presents both opportunities and challenges for the company [6]. Business Segments - The company has a diversified business model, including brokerage, investment banking, asset management, and commodity trading, with significant revenue contributions from each segment [7][13]. - The company has a strong regional presence in Shanxi Province, which remains a key market for its brokerage and underwriting services [7]. Recent Developments - The company has undergone management changes, with new appointments in key positions, which are expected to enhance operational efficiency [15][16]. - The company has also changed its external auditor to Ernst & Young Huaming, which is anticipated to have no negative impact on its operations [17].

Core Viewpoint - Shanghai Yuyuan Tourist Mart (Group) Co., Ltd. plans to issue corporate bonds not exceeding RMB 4 billion to adjust its debt structure, repay due debts, and supplement working capital [6][7][8]. Group 1: Shareholder Meeting Procedures - The shareholder meeting will be held in a hybrid format, combining on-site and online voting [2][3]. - Shareholders have the right to speak, inquire, and vote, but must register 15 minutes before the meeting [2][3]. - Voting will be conducted through a combination of on-site and online methods, with each share granting one vote [3][4]. Group 2: Bond Issuance Proposal - The company proposes to issue corporate bonds to meet funding needs for debt restructuring and working capital [6][7]. - The bond issuance is subject to approval from the China Securities Regulatory Commission (CSRC) and will be conducted in one or multiple phases [8][9]. - The bonds will have a maximum term of 7 years and will be issued at par value with a fixed interest rate determined through a book-building process [8][9]. Group 3: Financial and Legal Compliance - The company asserts that it meets the conditions for public bond issuance as stipulated by the Securities Law, including having a sound organizational structure and sufficient profit to cover interest payments [6][7]. - The funds raised will not be used for loss compensation or non-productive expenditures [6][7]. - Legal opinions will be provided by an appointed lawyer to ensure compliance with regulations [10][11].

Core Viewpoint - Changjiang Securities Co., Ltd. is set to issue corporate bonds aimed at professional investors, with a total issuance scale not exceeding RMB 15 billion, underlining the company's strategy to manage its financial obligations and enhance liquidity [3][11][13]. Group 1: Bond Issuance Details - The bond issuance is named "25 Changjiang 03" with a code of 524355, and it will be issued at a par value of RMB 100 per bond [3][11]. - The bond has a maturity of three years, with the interest payment scheduled annually [12][11]. - The final interest rate will be determined through a book-building process, with a pre-set range of 1.30% to 2.30% [15][21]. Group 2: Financial Metrics - The company's latest net asset value stands at RMB 1631.13 million, with an asset-liability ratio of 74.67% [3][11]. - The average distributable profit over the last three years is RMB 163.11 million, indicating stable profitability [3][11]. Group 3: Investor Participation - Only professional institutional investors are eligible to participate in the bond subscription, with a minimum subscription amount of RMB 10 million [5][20]. - The bond will not be rated, and it is subject to investor suitability management, meaning individual investors cannot participate [3][4]. Group 4: Use of Proceeds - The funds raised from this bond issuance will be used primarily to repay maturing corporate bonds, reflecting the company's focus on managing its debt obligations [13][11]. Group 5: Underwriting and Management - The lead underwriter for this bond issuance is CITIC Securities Co., Ltd., with joint underwriters including CITIC Jiantou Securities Co., Ltd. and Huatai United Securities Co., Ltd. [14][9]. - The bond will be managed through a book-building system, ensuring a transparent and efficient allocation process [5][19].

Core Viewpoint - Beijing Shougang Co., Ltd. has been approved to issue green technology innovation corporate bonds with a total face value of up to RMB 10 billion, with a specific issuance of RMB 5 billion for the first phase [1][2]. Group 1: Issuance Details - The total issuance of corporate bonds is capped at RMB 10 billion, with a maximum of RMB 8 billion for long-term bonds and RMB 2 billion for short-term bonds [1]. - The first phase of the bond issuance is set at RMB 5 billion, divided into two varieties: one with a maturity of 3 years and the other with a maturity of 5 years [1]. - The bonds will be issued at a price of RMB 100 each, utilizing a method of offline inquiry and allocation to professional institutional investors [1][2]. Group 2: Subscription and Demand - The issuance period for the bonds is from July 1, 2025, to July 2, 2025, with the final issuance scale for the second variety being RMB 5 billion and a coupon rate of 1.92% [2]. - The subscription rate for the bonds was 3.14 times, indicating strong demand from investors [2]. - Major underwriters, including Everbright Securities and Guotai Junan Securities, participated in the subscription, with total subscriptions from underwriters amounting to RMB 3.2 billion [2].

Core Viewpoint - The company held its 42nd meeting of the 11th Board of Directors, where several key resolutions were passed regarding management adjustments and the issuance of corporate bonds [1][2][3] Group 1: Management Adjustments - The Board approved the appointment of Mr. Huang Zhen as the company's president and Mr. Zhang Jian as the executive president, effective immediately [2] - The voting results for the management adjustments were unanimous, with 12 votes in favor and no opposition [2] Group 2: Corporate Bond Issuance - The company proposed to issue corporate bonds not exceeding RMB 4 billion (including 4 billion) to adjust its debt structure, repay due debts, and supplement working capital [5][6] - The bond issuance will be conducted publicly and may occur in one or multiple phases after obtaining approval from the China Securities Regulatory Commission [5][6] - The bonds will have a maximum term of 7 years and will be issued at par value with a fixed interest rate determined through a book-building process [5][6] - The funds raised will not be used for loss compensation or non-productive expenditures, in compliance with relevant laws [3][6] - The company will seek shareholder approval for the bond issuance plan and related matters, including the use of proceeds and guarantee arrangements [6][9] Group 3: Shareholder Meeting - The Board decided to convene the second extraordinary general meeting of shareholders in 2025 to review the proposed resolutions [9] - The voting results for the shareholder meeting decision were also unanimous, with 12 votes in favor and no opposition [9]

Core Viewpoint - Chongqing Zhifei Biological Products Co., Ltd. plans to issue corporate bonds to raise funds for technological innovation, debt restructuring, and working capital needs, with a total issuance scale not exceeding RMB 6 billion [1][2]. Group 1: Issuance Overview - The proposed bond issuance scale is up to RMB 60 billion, with the specific amount to be determined based on the company's funding needs and market conditions [2]. - The bonds will be issued through a book-building method, which may involve either a single issuance or multiple issuances [2]. - The face value of the bonds will be RMB 100, issued at par [2]. - The bonds will be offered to qualified professional investors, without preferential allocation to existing shareholders [2]. - The issuance will occur at an opportune time based on actual funding needs, on the Shenzhen Stock Exchange [2]. - The bond term will not exceed 10 years, including both public and private placements [2]. Group 2: Fund Utilization and Terms - The funds raised will be used for investments in technological innovation, debt replacement, and working capital, with specific allocations to be determined by the board [2][3]. - The bonds will have a fixed interest rate, determined through a pricing inquiry process, with interest paid annually and principal repaid at maturity [3]. - The bonds will be issued without collateral [4]. - The underwriting will be conducted through a firm commitment basis, with plans for listing on the Shenzhen Stock Exchange post-issuance [4]. Group 3: Authorization and Approval Process - The board seeks authorization from the shareholders' meeting to manage all aspects of the bond issuance, including terms and conditions [5][6]. - The issuance has been approved by the board and supervisory committee but requires shareholder approval and regulatory clearance before proceeding [6].

Group 1 - The company successfully completed a non-public issuance of corporate bonds amounting to 410 million yuan, with a final coupon rate of 3.50% [1][2] - The bond issuance period was from June 20, 2025, to June 23, 2025, and the bonds have a maturity of three years [1] - A total of 11 investors participated in the bond issuance, complying with relevant regulations and guidelines [2] Group 2 - The underwriting institution, Industrial Securities Co., Ltd., was allocated 60 million yuan, ensuring fair pricing and compliance with legal requirements [2] - No directors, supervisors, senior management, or significant shareholders participated in the bond subscription [2]