Core Viewpoint - The rapid growth of the "Technology Board" in China's bond market since May highlights the importance of technology in advancing Chinese modernization, with various market participants actively supporting innovation financing [2][3]. Group 1: Market Development - The "Technology Board" aims to address long-standing financing challenges in critical sectors such as semiconductors, quantum computing, and biomedicine, representing a breakthrough in financial supply-side structural reform [3]. - The issuance of technology bonds is not new, but the recent developments expand the scope of issuers and the use of raised funds, introducing innovative settings and regulations for more niche areas [3][4]. Group 2: Company Initiatives - The company has significantly increased its support for technology bond issuance, with over 2,700 billion yuan in underwriting for technology bonds in 2024, positioning itself among the market leaders [4]. - The company has facilitated the issuance of various pioneering technology bonds, including the first exchangeable company bond in Guangdong and the first public REIT for private industrial park infrastructure in China [4]. Group 3: Investment and Market Ecosystem - Following the rapid issuance of representative technology bonds, institutions are focusing on secondary market activities, enhancing their roles as investors and market makers, which creates new opportunities for development [6]. - The company utilizes digital tools to enhance pricing systems for technology bonds, improving liquidity and matching suitable investors with issuers [6][7]. Group 4: Future Outlook - The company anticipates that technology bonds will become a core financial tool supporting technological innovation, with ongoing efforts to align with national strategies and explore sustainable paths for risk-sharing and profit-sharing [8].