According to the China Merchants Securities announcement, the company has received approval from the China Securities Regulatory Commission and agreed to publicly issue short-term corporate bonds to professional investors. The face value balance of this bond does not exceed 48 billion yuan. The approval is valid for 24 months from the date of registration agreement, and the company can issue them in installments during the registration period. This issuance shall be carried out in strict accordance with the prospectus submitted to the Shanghai Stock Exchange. If important matters occur before the issuance is completed, the company must promptly report and handle them in accordance with regulations.

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