Core Viewpoint - The Shanghai Stock Exchange has announced the listing of China Gezhouba Group Co., Ltd.'s 2025 public issuance of technology innovation perpetual corporate bonds (Phase IV) starting from December 19, 2025 [1][2]. Group 1 - The bonds will be traded under the name "Gezhou YK13" with the code "244384" [2]. - The trading methods for these bonds include matched transactions, click transactions, inquiry transactions, competitive bidding transactions, and negotiated transactions [2]. - According to China Clearing rules, these bonds are eligible for pledge-style repurchase [2].

Core Viewpoint - Huaneng International Power Co., Ltd. announced the issuance of a new series of corporate bonds aimed at professional investors, with a total issuance amount of up to 1.5 billion yuan [1] Group 1: Bond Issuance Details - The company plans to issue a total of 1.5 billion yuan in technology innovation perpetual corporate bonds, divided into two varieties [1] - The first variety has a basic term of 5 years, with interest calculated every 5 years; the second variety has a basic term of 10 years, with interest calculated every 10 years [1] - The issuance work for this bond series was completed on September 25, 2025, with the first variety (bond name: 25HPI5YK, code: 243873) successfully issuing 1.5 billion yuan at a final coupon rate of 2.33% and a subscription multiple of 2.59 [1] Group 2: Cancellation of Second Variety - The second variety of bonds was canceled and not issued [1]