Datang Power Generation (00991) has successfully concluded the issuance of its inaugural tranche of perpetual corporate bonds targeting professional investors. The RMB 2 billion offering, finalized on July 15, 2025, carries a 5-year base maturity structured in renewable 5-year cycles. At each cycle's conclusion, the company retains the right to extend the tenure by another 5-year period through its renewal option. Should this option remain unexercised, full principal redemption will occur at maturity. These science and technology innovation bonds feature an annual coupon rate of 1.93%.