On September 2, 2019, the first corporate bonds (non-publicly issued corporate bonds) of the state-owned enterprise Rongfa Group directly under Qingdao West Coast New area were successfully issued on the Shanghai Stock Exchange, raising 1.3 billion yuan, with a maturity of 3+2 years and a coupon rate of 4.80, setting a new low in Qingdao's issuance interest rate of the same level, term and scale since 2017, marking a new breakthrough in direct financing for state-owned enterprises directly under the new area.

The successful issuance of this bond is only three and a half months before Rongfa Group passed the AA corporate external credit rating. It has high efficiency and low cost, which fully reflects the capital market's high recognition of Rongfa Group's comprehensive strength, operating performance and development momentum, and The economic development prospects of the new district are generally optimistic.

Since 2019, Rongfa Group has actively docked with financial institutions, continuously innovated financing methods and expanded financing channels, successively adopted project loans, M & A loans, financial leasing, trust, bond issuance and other methods, and obtained a total of 15 billion yuan of credit from financial institutions. it provides a strong financial guarantee for the group to better achieve the strategic goals of the new area and speed up the market-oriented development.