Initial Three-Year Bond Issuance Program Successfully Concluded

Jiaxing Economic and Technological Development Zone has achieved another milestone in its bond issuance efforts. This latest issuance marks the successful completion of the zone's first three-year bond program following the restructuring of local state-owned enterprises. The program has cumulatively raised 45.25 billion yuan, with an average issuance rate of approximately 2.23%, resulting in annual financing cost savings exceeding 70 million yuan.

The holding group recently issued corporate bonds totaling 5 billion yuan at a record-low rate of 1.9%, which was 11 basis points below valuation. This achievement demonstrates the group's strong capital management capabilities and reflects the capital market's high recognition of its comprehensive strength, credit quality, and future growth potential.

Since its establishment in July 2023, the company has focused on its role as a capital operator, optimizing its issuance structure and leveraging its AAA credit rating to implement the initial three-year bond issuance plan. During this period, the company pioneered the zone's first asset-backed securities (CMBS) financing product worth 10.81 billion yuan, continuously expanding its funding pool while strengthening financial security and improving the debt structure of state-owned enterprises. These initiatives have significantly supported cost reduction and efficiency improvement across the zone's SOEs.

"Since the beginning of this year, we have advanced a new round of SOE reforms by integrating district and street-level state-owned equity, establishing a '1+3+4' operational framework that has further enhanced our overall capabilities," stated a representative from the holding group. Data shows that by the end of March 2026, the holding group achieved total new financing of 45 billion yuan, with total assets reaching 750 billion yuan.

Vibrant finance stimulates economic vitality, and robust capital drives economic prosperity. By strengthening financing planning, fund保障, and fund management, Jiaxing Economic and Technological Development Zone will continue to promote a virtuous cycle of "funds-assets-capital," leading high-quality economic development across the region through the expansion and strengthening of state-owned enterprises.