Guangzhou Automobile Group (02238.HK) plans to apply for the registration of debt financing instruments with a total principal amount not exceeding 15 billion yuan.

According to the announcement released by GAC Group (02238.HK), in order to further expand financing channels, optimize the debt structure, effectively reduce financing costs, and meet the company's funding needs for production and operations, the company plans to apply to the National Association of Financial Market Institutional Investors for a unified registration and issuance of debt financing instruments (PDFI) with a total principal amount not exceeding 15 billion yuan (inclusive). The funds raised from this debt financing instrument will be used, after deducting issuance costs, to repay interest-bearing liabilities, supplement working capital, make equity investments, and for other purposes recognized by the National Association of Financial Market Institutional Investors.