Tian Yuan Law Firm LLP ("Tian Yuan Hong Kong") assisted Kaifeng Cultural Tourism Investment Group Co., Ltd. ("Kaifeng Cultural Investment") in completing the issuance of overseas bonds:

On February 5, 2024, the issuance of senior unsecured offshore RMB bonds with a principal amount of RMB 590 million, a coupon rate of 8.50%, and due in 2026 was completed. The bonds were listed on the China (Macau) Financial Assets Exchange Co., Ltd. ("Macau Exchange");

On February 5, 2024, based on the aforementioned bond issuance, an additional senior unsecured offshore RMB bond with a scale of RMB 150 million, a coupon rate of 8.50%, and due in 2026 was issued. The additional bonds were issued and listed on the Macau Stock Exchange；

Kaifeng Cultural Investment is a state-owned asset operation, infrastructure investment, financing and construction entity authorized by the Kaifeng Municipal People's Government. It is also the only state-owned monopoly enterprise in Kaifeng City that integrates the development, construction and operation of cultural tourism resources and tap water production and supply. Kaifeng Cultural Investment is responsible for the integrated development, construction and operation of cultural tourism resources in the Songdu Ancient City Cultural Industry Demonstration Park in Kaifeng, as well as the production and supply of tap water in Kaifeng City. Kaifeng Cultural Investment has obvious industry advantages in the region, strong overall competitive advantages and broad development prospects.

Tian Yuan Hong Kong acted as the issuer's international legal advisor in this bond issuance project, providing the issuer with full legal services. The work completed by Tian Yuan Hong Kong includes but is not limited to drafting and revising the bond information memorandum, reviewing transaction documents related to bond issuance, assisting with project delivery, and assisting the issuer and underwriter team, credit enhancement banks, and domestic and foreign legal advisors hired by all parties, communicate and negotiate with relevant regulatory authorities, and complete the listing of the bonds on the Macau Exchange.

Tian Yuan Hong Kong has extensive experience in overseas bond issuance (especially overseas bond issuance by Chinese-funded enterprises). Adhering to the concepts of professionalism, dedication and diligence, Tian Yuan Hong Kong always provides high-quality and efficient legal services to clients, and fully understands the special and important matters that Chinese-funded enterprises need to pay attention to in overseas financing.