CHINANEWTOWN (01278) announced that on November 20, 2025, the company, its wholly-owned subsidiary CNTD Success Company Limited (the issuer), and Wuxi Communications Industry Group Co., Ltd. (Wuxi Communications Group) entered into a subscription agreement with bond underwriters for the issuance of RMB1.5 billion bonds. The bonds will mature in 2028 with an interest rate of 2.95% and will benefit from a keepwell and liquidity support deed as well as an equity purchase commitment deed provided by Wuxi Communications Group. After deducting commissions and other estimated expenses related to the bond issuance, the net proceeds will be used to refinance the issuer's existing offshore debt.