Xinchuang Group (00659) announced that the company applied for corporate bonds (panda bonds) in the People's Republic of China with the total registration amount of not more than RMB 5 billion from the China Securities Regulatory Commission (China Securities Regulatory Commission) and the Shanghai Stock Exchange (Shanghai Stock Exchange) and will be issued by the company in multiple batches at the appropriate time (recommended issuance). The proposed issuance will be carried out within two years of receiving the registration notice from the China Securities Regulatory Commission. As the application is being processed, it is still uncertain whether and when the application will be approved, and whether and when the registration of Panda Bonds will be completed.

If a proposed issuance is made, the exact issuance time, issuance period, issuance scale and issuance terms of the panda bonds will depend on the market conditions at the time of issuance, and the interest rate of panda bonds will be determined through centralized bookkeeping and filing methods. Panda bonds will be listed and traded on the Shanghai Stock Exchange after issuance.