Core Points - The company received a no-objection letter from the Shenzhen Stock Exchange regarding the non-public issuance of exchangeable bonds by its major shareholder, Liaoning Chengda Co., Ltd. [1] - Liaoning Chengda plans to issue exchangeable bonds with a total face value of up to 2.8 billion RMB, which is confirmed to meet the listing conditions of the Shenzhen Stock Exchange [1] - The no-objection letter is valid for 12 months from the date of issuance [1] Shareholding Structure - As of the announcement date, Liaoning Chengda and its concerted parties hold a total of 1,366,927,688 shares of the company, accounting for 17.97% of the total share capital [2] - The issuance of the exchangeable bonds will not lead to significant changes in the company's equity structure [2] - The company will disclose further developments regarding the non-public issuance of exchangeable bonds in accordance with regulatory requirements [2]