Core Points - The company has approved the issuance of super short-term financing bonds not exceeding RMB 600 million [1] - The first phase of the super short-term financing bond for 2025 has been successfully issued with a total amount of RMB 100 million [1] - The funds raised from this bond issuance will primarily be used to repay bank loans [1] Summary by Sections - **Bond Issuance Approval** - The company’s board approved the proposal for issuing super short-term financing bonds up to RMB 600 million [1] - The issuance was authorized for the management to handle related matters [1] - **Bond Details** - The first phase of the super short-term financing bond for 2025 has a total issuance amount of RMB 100 million, with an interest rate of 1.78% [1] - The bond has a term of 270 days, with the start date on August 25, 2025, and maturity on May 22, 2026 [1] - The main underwriter for this bond is Hangzhou Bank Co., Ltd [1] - **Use of Proceeds** - The funds raised from the bond issuance will be utilized mainly for repaying bank loans [1]