Towngas Smart Energy Company Limited has announced the successful issuance of its "Zero-Carbon Smart Phase 3 Green Asset-Backed Securities Programme (Carbon Neutral)" quasi-REIT on the Shenzhen Stock Exchange, raising RMB 812 million. This marks the company's second quasi-REIT issuance in 2025 and the third under its RMB 5 billion shelf offering. The priority security coupon rate for this issuance is maintained at 2.3%. Towngas Smart Energy previously issued two tranches of quasi-REITs, one in 2024 and another in the first half of 2025, collectively raising RMB 1 billion. Proceeds from the latest offering will be channelled into photovoltaic and energy storage projects, supporting the company's renewable energy initiatives. No URL for the prospectus is provided in the document.