Beijing E-Town International Investment & Development Co., Ltd. (E-Town Capital) has successfully completed the bookbuilding and issuance of the first benchmark market-making bond by a district-level State-owned enterprise in Beijing — the fourth tranche of its 2026 sci-tech innovation corporate bonds (26 YZK7). The issuance size is 1.5 billion yuan ($224.71 million), with a tenor of 10 years and a coupon rate of 1.97%.

With the dual designation of "sci-tech innovation bond" and "market-making bond" now in place, E-Town Capital has established a primary-secondary market linkage model in which the primary market serves sci-tech innovation while market-making in the secondary market enhances liquidity. This marks a new milestone in the company's market-oriented bond operations and low-cost financing capability, and a key breakthrough for the company in the capital markets.

Benchmark market-making bonds are the core underlying assets of the exchange bond market-making system, and are subject to stringent screening criteria, including high credit ratings and sufficient outstanding amount. With this tranche included, the bond's liquidity and market recognition will be further enhanced and the price discovery mechanism further improved, attracting more institutional investment and laying a solid foundation for the company's future low-cost issuance.

This recently-issued tranche is a special corporate bond for sci-tech innovation. All proceeds will be used for equity investments in the field of sci-tech innovation, focusing on hard-tech industries such as integrated circuits, new-generation information technology and high-end equipment manufacturing. It is a concrete step by E-Town Capital in implementing China's national innovation-driven development strategy and advancing the broader initiative of sci-tech finance. Against the backdrop of recent fluctuations in the central level of market interest rates, E-Town Capital's position as the first Beijing district-level enterprise to put in place a benchmark market-making bond fully demonstrates the capital market's strong recognition of the company's high credit quality and sound operating fundamentals.

In recent years, E-Town Capital has focused on building a modern industrial system in the Beijing Economic-Technological Development Area (BDA), and has continued to serve as a "professional , market-oriented and value-driven industry-empowering investment platform," supporting national strategies, empowering the real economy and fostering new quality productive forces with strategic capital, long-term capital and patient capital. Going forward, E-Town Capital will continue to seize the policy window, diversify its financing instruments, optimize its debt structure and lower financing costs, and guide more financial resources toward the central task of sci-tech innovation, so as to keep injecting capital momentum into regional industrial upgrading and high-quality development.