Group 1 - The company has approved the issuance of ultra-short-term financing bonds with a registered amount of RMB 500 million and a validity period of 2 years [1][2] - The company has completed the issuance of the first phase of ultra-short-term financing bonds for 2025, with a total issuance scale of RMB 300 million, a term of 270 days, and an interest rate of 1.60% [2] - The funds raised from the bond issuance will be used to repay bank loans [2]