Group 1 - Xi'an Zhongke Optical Machine Investment Holding Co., Ltd. successfully issued its first phase of directional technology innovation bonds for 2025, with a total issuance scale of 300 million yuan and a maturity of 3 years at a coupon rate of 2.5% [1] - The bond issuance was supported by a credit risk mitigation tool fully created by Zheshang Bank, with a subscription multiple of 1.6 times and a marginal multiple of 4.6 times [1] - At least 80% of the raised funds will be used to support the technology innovation sector, focusing on advanced manufacturing, new generation information technology, and photonics industry [1] Group 2 - The bond issuance coincided with a policy window, as the People's Bank of China and the China Securities Regulatory Commission jointly announced support for the issuance of technology innovation bonds on May 7 [2] - Xi'an Zhongke is a platform for the transformation of scientific and technological achievements, initiated by the Xi'an Institute of Optics and Precision Mechanics of the Chinese Academy of Sciences, with investments from state-owned financial institutions and local governments [2] - The company has invested in and incubated 553 hard technology enterprises, with a total market valuation of 673.3 billion yuan [2]