CHINA RAIL CONS (01186) announced that China Railway Construction Corporation Limited (the "Company") completed the issuance of its 2022 Science and Technology Innovation Perpetual Corporate Bonds (Phase I) (Series 1) (the "Bonds") on December 21, 2022. According to the prospectus, the Bonds are structured with a 3-year interest accrual cycle ("Repricing Cycle"), featuring an issuer renewal option at the end of each cycle. The Company has decided not to exercise the renewal option and will fully redeem the Bonds. The Bonds, with the short name "CRCC YK01" and code "138759," were issued with a total principal of RMB 3 billion and carried an initial coupon rate of 3.95%. As stipulated in the prospectus, the Company has opted not to extend the Bonds at the end of the first Repricing Cycle, resulting in full redemption on December 21, 2025.