Core Points - Shanghai Electric Power Co., Ltd. issued the 20th phase of ultra-short-term financing bonds for the year 2025 on December 9, 2025 [2] - The funds raised from this bond issuance will primarily be used to repay maturing bonds [2] Group 1 - The bond issuance was conducted through a book-building and centralized allocation method in the national interbank bond market [2] - The company’s board of directors guarantees the truthfulness, accuracy, and completeness of the announcement [1]