Recently, guided by the Gansu Provincial Branch of the People's Bank of China, Gansu Shangfeng Materials Co., Ltd. successfully issued its first tranche of sci-tech innovation bonds for 2026 in the interbank bond market. This marks the province's inaugural corporate sci-tech innovation bond issuance, signifying a new milestone in financing for private sci-tech enterprises in the region's bond market and establishing a benchmark for private sci-tech entities to raise funds through the "tech board" channel.

The bond issuance totals 400 million yuan with a five-year term and a coupon rate of 1.95%, with China Merchants Bank serving as the lead underwriter. Proceeds will be allocated to repay existing interest-bearing debt, supplement operational working capital, and prioritize support for sci-tech initiatives such as new material R&D and green, low-carbon process upgrades, aiding the company in intensifying innovation investment and fostering new quality productive forces. Since the launch of the bond market's "tech board" in 2025, the PBOC Gansu branch has seized the policy window in the interbank bond market, systematically advancing the cultivation of sci-tech bonds by establishing a database of private sci-tech enterprises and implementing tailored "one-enterprise, one-policy" guidance. To address the challenge of weaker credit profiles among private firms, it has enhanced collaboration with lead underwriters and intermediary agencies, integrating underwriting, rating, and guarantee resources to build a precise matchmaking service platform and streamline end-to-end support, thereby reducing comprehensive issuance costs for enterprises.

This inaugural private-sector sci-tech bond issuance fills a gap in the province's sci-tech bond market for private issuers and holds significant demonstrative value in encouraging more private tech firms to access the interbank bond market and broaden direct financing channels.