CHINA RAIL CONS (01186) issued an announcement regarding its 2025 issuance of Sci-Tech Innovation Perpetual Corporate Bonds (Fifth Issue) targeting professional investors, with a total offering size not exceeding RMB 4.5 billion (inclusive). On December 23, 2025, the issuer and bookrunner conducted offline coupon rate inquiries with professional institutional investors. Based on the inquiry results and mutual agreement, the final coupon rate for the first tranche was set at 2.15% for its initial period, while the second tranche's initial period rate was determined at 2.40%.