Issuance of bonds receives high recognition from the capital market; Shandong Xinchao Energy Corporation (600777.SH) stock price hits the daily limit up.

On December 8th, Shandong Xinchao Energy Corporation (600777.SH) saw its stock price hit the limit-up in early trading. As of the time of writing, the stock price has risen by over 7%, with a cumulative increase of over 15% this week. In terms of news, on the evening of December 1st, Shandong Xinchao Energy Corporation announced that the shareholders' meeting had reviewed and approved the proposal for the non-public issuance of high-yield bonds by its subsidiary in the United States. The raised funds will be prioritized for the repayment of existing bonds. This move will further optimize the debt structure, reduce financial risks, and lay a solid foundation for the company's long-term development. Judging from the performance of Shandong Xinchao Energy Corporation's stock price this week, this bond issuance has received high recognition from the capital market. In addition, recently, the "China Energy News" released the 2023 list of the top 500 energy enterprises (groups) in China, and Shandong Xinchao Energy Corporation was selected for its outstanding performance and ranked 279th. According to Shandong Xinchao Energy Corporation's financial report, in 2022, the company achieved operating income of 9.357 billion yuan and a net profit attributable to shareholders of 3.128 billion yuan, with several indicators hitting historical highs. In the first three quarters of 2023, Shandong Xinchao Energy Corporation achieved operating income of 6.483 billion yuan and a net profit attributable to shareholders of 1.874 billion yuan.