On June 30th, 00123.HK issued an announcement that the size of the fourth issue of corporate bonds will not exceed RMB 1.1 billion. The fourth issue of 2022 corporate bonds will be divided into two categories: (I) five-year fixed coupon corporate bonds, and the issuer may choose to adjust the coupon rate at the end of the third year. In addition, at the end of the third year: (a) the issuer has the right to redeem the type 1 bond; and (b) the type 1 bond holder has the right to sell the type 1 bond back to the issuer; and (ii) seven-year fixed coupon corporate bonds, and the issuer may choose to adjust the coupon rate at the end of the fifth year. In addition, at the end of the fifth year: (a) the issuer has the right to redeem the second bond; and (b) the holder of the second bond has the right to sell back the second bond to the issuer.