Translator：Jiang Wenyu

On December 22, Danh sách sòng bạc ở Việt Namfully issued the first renewable corporate bonds of 2021 in Shanghai Stock Exchange, with an issue size of RMB 500 million, an issue term of 3+N, and a coupon rate of 3.39%, which is a new low coupon rate of the same variety and same term of the second-tier subsidiaries of central enterprises so far this year.

As a high-quality AAA-rated central enterprise subsidiary with a long history, Danh sách sòng bạc ở Việt Namompany continued its excellent performance in Danh sách sòng bạc ở Việt Namapital market in the past, and still gained the pursuit and favor of institutional investors in the situation that the trading sentiment of Danh sách sòng bạc ở Việt Namapital market tended to be cautious at the end of the year, and the subscription multiples of the whole market reached 2.42 times, which fully reflected the high recognition of institutional investors to Danh sách sòng bạc ở Việt Namentennial brand of CCCC Shanghai Waterway Bureau, Danh sách sòng bạc ở Việt Namomprehensive strength and the development prospect.

The successful issuance of this corporate bond further reduces Danh sách sòng bạc ở Việt Namompany's financing costs and provides sufficient medium- to long-term funding support for Danh sách sòng bạc ở Việt Namompany's comprehensive deepening of reform and transformation, as well as its accelerated development into an excellent integrated construction service provider. It also plays an important role in optimizing Danh sách sòng bạc ở Việt Namompany's capital operation, expanding financing channels, and improving its financial structure. Additionally, it enhances Danh sách sòng bạc ở Việt Namompany's influence in the public market, laying a solid foundation for future capital market operations and empowering Danh sách sòng bạc ở Việt Namompany to achieve high-quality development.

As Danh sách sòng bạc ở Việt Nampecial legal advisor of CCCC Shanghai Waterway Bureau for this bond issuance, Landing provided professional and efficient legal services for this issuance and contributed to Danh sách sòng bạc ở Việt Namuccessful issuance of this bond. LANDING will continue to provide high-quality and efficient legal services to our clients under the development concept of "absolute specialization". The lawyers who provided services for this bond issue are Liu Zhaofu and Kong Lingsen.