Guotai Haitong has been granted approval by the People's Bank of China to issue up to 15 billion yuan worth of science and technology innovation bonds in the national interbank bond market. These bonds are specifically aimed at supporting investments and financing in the realm of scientific and technological innovation. The administrative license, which is valid from June 11, 2025, to June 10, 2027, grants the company the flexibility to independently determine the timing of phased bond issuances during this period.