Sino Biopharm (01177.HK) announced on June 20th that it has completed the issuance of the first batch of Panda bonds. According to book-building and distribution results, the total issuance size of the first Panda bonds is RMB 1.5 billion, with a coupon rate of 1.95% and a term of 180 days.

The first issuance of Panda bonds aims to actively explore diversified financing channels and reduce the company's funding costs. The Group has always maintained a sound financial planning and has strong financial strength. The issuance of Panda bonds will further optimize the Group's financing structure, improve financial performance, and demonstrate the Group's leadership in financial innovation and market development. It is a specific action in response to the national policy of supporting the development of the biomedical industry.