[Caihua News] Sinotrans (00598-HK) announced that the company plans to register and issue RMB asset-backed notes with the China Interbank Market Dealers Association. The total amount to be issued will not exceed RMB 1.1 billion. The period is expected to be 6 months. The company signed underwriting agreements with Huaneng Guicheng, Bank of China and China Merchants Securities on October 17.

After careful consideration, the company's directors believe that issuing RMB asset-backed notes is beneficial to revitalizing the company's stock assets, improving asset turnover efficiency, and optimizing the balance and liability structure, and will not have a significant impact on the company's future financial situation and operating results. The business teams of Bank of China and China Merchants Securities have rich project experience in the field of asset securitization. The underwriting service provided by the Bank of China and China Merchants Securities is conducive to improving the communication and implementation efficiency of this RMB asset-backed note issuance project.