Shanghai Urban Development (Holdings) Co., Ltd $(SUD.AU)$, a non-wholly-owned subsidiary of Shanghai Industrial Urban Development Group Limited, has successfully completed the issuance of its 2025 1st tranche medium-term notes in the People's Republic of China. The issuance, totaling RMB900 million with a term of three years and a coupon rate of 1.99%, was oversubscribed 2.28 times. Rated AA+ by China Chengxin International Credit Rating Co., Ltd., these notes achieved a record low coupon rate among similar issuances by Chinese property developers. The proceeds will be used to repay SUD's 2022 1st tranche medium-term notes, which had a higher coupon rate of 2.85%, resulting in significant financial savings and demonstrating strong market confidence in the company's capabilities and brand image.