Caitong Securities: Approved by the China Securities Regulatory Commission to issue up to 8 billion yuan of subordinated bonds.

Caitong Securities announced that the company recently received approval from the China Securities Regulatory Commission to publicly issue subordinated bonds with a total face value not exceeding 8 billion yuan to professional investors. This issuance should be conducted in accordance with the prospectus submitted to the Shanghai Stock Exchange, and the approval is valid for 24 months from the date of registration. The company may issue the bonds in installments. If any major events occur before the issuance is completed, they should be reported and dealt with promptly. The company will handle the issuance related matters in accordance with the requirements and authorization of the shareholders' meeting.