Shanghai Securities News | Wenzhou Industrial Group Issues the Nation's First "Specialized, Sophisticated, Distinctive and Innovative" (SSDI) Technology Innovation SME-Support Corporate Bond

Shanghai Securities News, www.cnstock.com (Reporter He Xinyi) — Recently, Wenzhou Municipal Industrial Development Group Co., Ltd. successfully issued its 2026 non-public offering of "Specialized, Sophisticated, Distinctive and Innovative" (SSDI) technology innovation SME-support corporate bonds (Phase I) to professional investors on the Shanghai Stock Exchange (SSE). This bond is the nation's first corporate bond combining the themes of "technology innovation + SME support + SSDI enterprises". The issuance size is RMB 500 million, with a tenor of 5 years and a coupon rate as low as 2.18%. CITIC Securities Co., Ltd. acted as the lead underwriter and bookrunner, with Shenwan Hongyuan Securities, Zheshang Securities, and Sinolink Securities serving as joint lead underwriters.

The proceeds of this bond will be primarily used through prepayments or settlement of payables to support the development of the SSDI "Little Giant" subsidiary NZZB and related upstream and downstream enterprises in the industrial chain. It is expected to benefit more than 90 SMEs, including over 80 private enterprises. This bond is the first in China to channel funds from technology finance and inclusive finance into the coordinated development of SSDI enterprises and SMEs across their industrial chains.

Supported by the top-level design of Wenzhou Municipal Party Committee and local Government regarding the optimization of the layout of state-owned enterprises, Wenzhou Urban Development Group has actively explored the industrial transformation path of urban investment entities. Using its subsidiary Wenzhou Industrial Group as a platform, and focusing on the positioning of "real economy industrial investment and integrated urban operator", the company has completed a full transition process, including divestment of traditional urban investment businesses, integrated operation of urban commercial assets, industrial investment and incubation, attainment of AAA credit rating, and initial bond issuance to support industrial development. Specifically, in the industrial investment segment, the company has aligned with Wenzhou's "5+5+N" modern industrial system, cultivating its subsidiary NZZB into a national high-tech enterprise and a national SSDI "Little Giant" enterprise, securing more than 50 national patents (including 17 invention patents). It has also established the "Zhejiang Provincial Research Institute for High-Efficiency Energy-Saving Power Transformer Technology", which has been recognized as both a provincial-level enterprise research institute and a provincial-level enterprise technology center. In the integrated urban operations segment, the company focuses on property management, asset leasing, hotel operations, and labor dispatch, enhancing its core competitiveness through the efficient allocation and utilization of state-owned resources.

Wenzhou Industrial Group stated that it has transformed from a traditional infrastructure enterprise into an integrated urban operator and has become an industrial investment and operation platform with market-oriented capabilities. Going forward, the group will continue to leverage the guiding and demonstrative role of state-owned capital in implementing national strategic initiatives, contribute to high-quality regional economic development, and provide a model for the market-oriented transformation of urban investment enterprises.