CNBM has announced the completion of its issuance of RMB 2 billion in sci-tech innovation corporate bonds, according to a recent company filing.

The offering, designated as the fifth tranche of its 2026 public issuance program targeting professional investors, was capped at a total scale of RMB 2 billion. The bonds were structured into two variants: the first with a three-year maturity and the second with a five-year maturity.

To enhance flexibility, the issuance incorporated a discretionary reallocation mechanism between the two tranches, with no restrictions on the adjustment ratio. The issuer and bookrunner reserved the right to exercise this option based on subscription demand, within the overall issuance size.

The bonds were distributed through a book-building process exclusively to qualified institutional investors, with the issuance concluding on August 20, 2026. The first tranche saw RMB 1 billion raised, achieving a subscription multiple of 3.01 times, and carried a final coupon rate of 1.64%. The second tranche also raised RMB 1 billion, with a subscription multiple of 3.61 times and a final coupon rate of 1.72%.