Core Viewpoint - The company, Financial Street (000402.SZ), announced plans to issue private corporate bonds totaling up to 5.17 billion RMB, pending shareholder and regulatory approval [1] Group 1 - The company will hold the 40th meeting of the 10th Board of Directors and the 15th meeting of the 10th Supervisory Board on August 25, 2025, to review the bond issuance proposal [1] - The proposed bond issuance is subject to approval by the company's shareholders and requires regulatory review or registration before implementation [1]

Group 1 - The core viewpoint is that Shoukai Co., Ltd. successfully issued a private corporate bond of 701 million yuan at a low coupon rate of 2.90% despite a challenging market environment characterized by rising bond market interest rates and a significant "seesaw" effect between stocks and bonds [1][2] - The bond issuance reflects strong investor confidence in the company's future operational capabilities and debt repayment assurance, especially in a financial environment where the A-share market is performing well and bond rates are fluctuating upwards [1] - Since 2025, Shoukai Co., Ltd. has successfully completed approximately 11.5 billion yuan in corporate bond renewals and issued about 4 billion yuan in new bonds, showcasing its strong credit capacity and market reputation [1] Group 2 - The successful bond issuance enhances Shoukai Co., Ltd.'s image in the capital market and solidifies its competitive position in the real estate industry, serving as a financing model for other state-owned real estate enterprises [2] - In a challenging industry phase, financially stable companies with state-owned backgrounds can still access necessary funds through the credit bond market, gaining an advantage in a tough market environment [2] - This bond issuance not only injects certainty into the company but also conveys a positive attitude from the capital market towards financially stable real estate companies, contributing to the healthy development of the overall real estate financial environment [2]