On August 28, financial news reported that Zhejiang Shaoxing Ruifeng Rural Commercial Bank Co.,Ltd. (Ruifeng Bank) announced the successful issuance of its "First Tranche of 2026 Subordinated Bonds" in the national interbank bond market, following approval from the People's Bank of China and the Zhejiang Regulatory Bureau of the National Financial Regulatory Administration. The bonds have been registered and held with the Shanghai Clearing House.

The book-building process for the bonds concluded on August 26, 2026, and the issuance was fully completed on August 28, 2026, in the national interbank bond market. The total issuance scale amounted to 1.5 billion yuan, structured as 10-year fixed-rate bonds featuring a conditional issuer redemption option at the end of the fifth year, with a coupon rate of 1.99%.

Proceeds from the bond issuance will be utilized to bolster the bank's Tier 2 capital, in accordance with applicable laws and regulatory approvals.