Core Viewpoint - Wushang Group Co., Ltd. has successfully registered and issued its first phase of medium-term notes for 2025, with a total registered amount of RMB 15 billion, aimed at refinancing existing debt [1][2]. Group 1: Issuance Details - The company held meetings on October 10 and October 26, 2023, to approve the registration and issuance of medium-term notes and short-term financing bonds, with a total registration amount not exceeding RMB 30 billion [1]. - The registered medium-term notes are valid for two years from the date of the notice, allowing for phased issuance [1]. - The first phase of the medium-term notes, named "Wushang Group Co., Ltd. 2025 First Phase Medium-Term Notes," has been successfully credited on August 21, 2025 [1]. Group 2: Underwriting and Fund Utilization - The main underwriter for this issuance is China Merchants Bank Co., Ltd., with Bank of Communications Co., Ltd. acting as a joint lead underwriter [2]. - The funds raised from this issuance will be utilized for repaying interest-bearing debts [2].