Shanghai Construction unit's bond issuance by subsidiary approved

Shanghai Construction Group (SSE:600170) announced that its subsidiary, Shanghai Construction Investment Co., has received approval from the Shanghai Stock Exchange (SSE) to issue corporate bonds to professional investors. The total issuance amount will not exceed CNY 4.5 billion, underwritten by a syndicate including Ping An Securities, Debon Securities, CITIC Securities, and Everbright Securities. The bonds will be issued in tranches within 12 months from the date of the approval. The proceeds are earmarked for purposes outlined in the bond prospectus. The announcement emphasizes the importance of fulfilling information disclosure obligations and protecting investor rights. The company will proceed with the issuance and provide updates as needed.