Financial Street Holdings plans dual bond issuance, new director appointment

Financial Street Holdings announced plans to issue privately-placed corporate bonds not exceeding CNY 5.17 bn and non-financial enterprise debt financing instruments (medium-term notes) not exceeding CNY 11.5 bn. The privately-placed bonds will have a term of up to 10 years, with proceeds allocated for refinancing existing corporate bonds. The medium-term notes, also with a term of up to 10 years, will fund debt repayment and project construction. Both issuances will adopt fixed-rate, market-based pricing, with final terms subject to market conditions and regulatory approvals.

These proposals were approved at the company's 10th Board of Directors' 40th meeting and 10th Supervisory Board's 15th meeting on August 25, 2025. They await approval at an Extraordinary General Meeting (EGM) scheduled for September 11, 2025. The EGM will also consider the appointment of Mr. Ren Qinghe as a non-independent director.

Mr. Ren, born in 1970, currently serves as deputy party secretary and chairman of the supervisory board at Great Wall Life Insurance Co., Ltd. He previously held roles including chief accountant at Beijing Financial Street Investment (Group) Co., Ltd., and possesses over six years of experience in the commercial property sector.