Core Viewpoint - The article emphasizes the importance of cultural construction in driving high-quality development within financial institutions, particularly focusing on China Galaxy Securities' efforts to enhance its cultural strength and social responsibility [1][7]. Group 1: Cultural Construction Importance - Culture is identified as the soul of the enterprise and an intrinsic driving force for high-quality development [3]. - Strengthening cultural construction is seen as a strategic choice for enhancing core competitiveness in the context of building a financial powerhouse [3]. Group 2: Cultural Philosophy and Implementation - China Galaxy Securities has developed a cultural philosophy system called "One Galaxy·ONE CGS," which is based on the "Five Musts and Five Must Nots" of Chinese financial culture [3][5]. - The company integrates cultural concepts into daily management through various internal communication channels, ensuring that cultural values permeate employees' daily work [4]. Group 3: Six Support Systems for Cultural Ecology - The "Six Support Systems" encompass ideology, promotion, activities, honors, branding, and guarantees, creating a complete loop for cultural construction from concept to practice [5]. - The company has embedded cultural values into employee assessment and promotion systems, transforming soft indicators into hard constraints [5]. Group 4: Achievements and Recognition - China Galaxy Securities has received the highest AA rating for cultural construction for four consecutive years, indicating a positive interaction between cultural development and business growth [7]. - Over 25 years, the company has seen significant growth, with cumulative revenue increasing by 11 times, net profit by 12 times, and total assets by 15 times, maintaining a position among the top five in the industry [7]. Group 5: Future Outlook - The company plans to continue implementing national cultural strategies and deepen the "Six Support Systems" to empower the construction of a first-class modern investment bank [8].

Core Viewpoint - The article emphasizes the importance of cultural construction in driving the high-quality development of financial institutions, particularly focusing on China Galaxy Securities' efforts in this area [1][2]. Group 1: Cultural Construction Importance - Culture is identified as the soul of the enterprise and an intrinsic driving force for high-quality development [2]. - Strengthening cultural construction is both a requirement for implementing the central government's decisions and a strategic choice for enhancing core competitiveness in the securities industry [2]. Group 2: Cultural Framework and Practices - China Galaxy Securities has developed a cultural concept system called "One Galaxy · ONE CGS," which is based on the "Five Musts and Five Must Nots" of Chinese financial culture and the core values of compliance, integrity, professionalism, and stability [2]. - The company integrates cultural concepts into daily management through various internal communication channels, such as cultural corridors and internal publications [3]. Group 3: Six Support Systems - The "Six Support Systems" for cultural construction include ideology, promotion, activities, honors, branding, and guarantees, creating a complete loop from concept to practice [4]. - The company embeds cultural concepts into employee assessment and promotion systems to ensure that soft indicators become hard constraints [4]. Group 4: Achievements and Impact - China Galaxy Securities has achieved significant growth, with operating income increasing 11 times, net profit 12 times, and total assets 15 times over 25 years, maintaining a position among the top five in the industry [7]. - The company has received the highest AA rating for cultural construction for four consecutive years, indicating a positive interaction between cultural development and corporate growth [7]. Group 5: Future Outlook - The company plans to continue deepening the "Six Support Systems" and enhance cultural construction to empower the development of a first-class modern investment bank [8].

Core Viewpoint - Cultural construction is becoming a deep-seated force driving financial institutions towards stable and sustainable development, with China Galaxy Securities positioning itself as a key player in the capital market by enhancing its core competitiveness through cultural initiatives [1][2]. Group 1: Cultural Importance and Strategy - The company emphasizes that culture is the soul of the enterprise and an intrinsic driving force for high-quality development, aligning with the central government's directives [2]. - China Galaxy Securities has developed a cultural concept system called "One Galaxy · ONE CGS," which is based on the "Five Musts and Five Must Nots" of Chinese financial culture and the core values of the securities industry [2][4]. Group 2: Implementation of Cultural Practices - The company integrates cultural concepts into daily management through various internal communication channels, including a cultural corridor and internal publications, to subtly embed cultural values into employees' daily work [3][4]. - A "Five-in-One" internal communication matrix has been established to promote cultural awareness and practices among employees [3]. Group 3: Six Support Systems for Cultural Ecology - The "Six Support Systems" encompass ideology, promotion, activities, honors, branding, and guarantees, creating a complete loop from cultural concept to practical implementation [4][5]. - The company has established a comprehensive honor system that includes various awards to foster a competitive and aspirational environment among employees [5]. Group 4: Achievements and Future Outlook - China Galaxy Securities has achieved significant growth, with cumulative revenue increasing 11 times, net profit 12 times, and total assets 15 times over 25 years, maintaining a top-five position in key operational metrics [7]. - The company aims to continue deepening the "Six Support Systems" and enhance its cultural construction to support the development of a first-class modern investment bank [8].

Core Viewpoint - Cultural construction is becoming a deep-seated force driving financial institutions towards stable and sustainable development, with China Galaxy Securities focusing on enhancing core competitiveness through cultural initiatives [1][2]. Group 1: Cultural Importance - Culture is identified as the soul of the enterprise and an intrinsic driving force for high-quality development [2]. - Strengthening cultural construction is both a requirement for implementing the central government's decisions and a strategic choice for enhancing core competitiveness in the securities industry [2]. Group 2: Cultural Framework - China Galaxy Securities has innovatively proposed the "One Galaxy · ONE CGS" cultural concept system, which is based on the "Five Musts and Five Must Nots" of Chinese financial culture and the core values of compliance, integrity, professionalism, and stability [2][3]. - The company has established a "Six Support Systems" for cultural construction, encompassing ideology, promotion, activities, honors, branding, and guarantees, creating a complete closed loop from concept to practice [3][4]. Group 3: Implementation Practices - The company integrates cultural concepts into daily management through various internal communication channels, including a cultural corridor, internal publications, and cultural forums [3]. - The activity system is highlighted by annual themed events that enhance employee belonging and recognition, such as the "Galaxy Youth Lecture Hall" [4]. - A comprehensive honor system has been developed, including various awards and recognitions to foster a competitive and aspirational environment [4]. Group 4: Achievements and Impact - China Galaxy Securities has achieved significant growth, with operating income increasing 11 times, net profit 12 times, and total assets 15 times over 25 years, maintaining a position among the top five in the industry [5]. - The company has received the highest AA rating for cultural construction for four consecutive years, indicating a positive interaction between cultural development and business performance [5][6]. - Cultural construction has enhanced both internal cohesion and external influence, establishing a strong image as a state-owned financial enterprise aligned with national goals [6]. Group 5: Future Outlook - The company aims to continue deepening the "Six Support Systems" and leverage cultural construction to empower the development of a first-class modern investment bank [6].

Core Points - China Galaxy Securities successfully issued its 20th short-term financing bond for 2025, amounting to RMB 4 billion with a coupon rate of 1.64% and a maturity of 85 days [1] - The total principal and interest payment for the bond was RMB 4,015,276,712.33, completed on November 14, 2025 [2] - The company also announced the issuance results of its first short-term corporate bond for professional investors, with a maximum issuance size of RMB 30 billion and a maturity of 184 days [4] Group 1 - The short-term financing bond was issued on August 21, 2025, with a repayment date set for November 14, 2025 [1] - The bond issuance was registered with the China Securities Regulatory Commission, allowing for a maximum issuance of RMB 150 billion [4] - The actual issuance size of the corporate bond was RMB 30 billion, with a final coupon rate of 1.67% and a subscription multiple of 3.86 times [5] Group 2 - The bond had participation from related parties, including Dachen Fund Management, which subscribed for RMB 20 million [5] - The underwriting institutions and their affiliates also participated, with Xinyi Fund Management subscribing for RMB 300 million and Citic Bank for RMB 500 million [6] - All subscription processes complied with relevant laws and regulations [6]

本期债券存在承销机构及其关联方认购情况，为主承销商招商证券股份有限公司的关联方兴业基金管理 有限公司参与认购并获配本期债券金额人民币3亿元，主承销商中信建投证券股份有限公司的关联方中 信银行股份有限公司参与认购并获配本期债券金额人民币5亿元。前述认购报价及程序均符合相关法律 法规的规定。 董事会欣然宣布，根据上述股东授权及中国证券监督管理委员会的批覆，公司已于2025年11月17日完成 2025年短期公司债券(第一期)公开发行。本期债券的发行规模为人民币30亿元，面值及发行价均为每单 位人民币100元。本期债券的期限为184天，最终票面利率为1.67%。本期债券发行所募集的资金将用于 偿还公司到期债务。 本期债券存在公司关联方认购情况，为大成基金管理有限公司参与认购并获配本期债券金额人民币0.2 亿元。公司的董事、高级管理人员、持股比例超过5%的股东及其他关联方未参与本期债券认购。前述 认购报价及程序均符合相关法律法规的规定。 格隆汇11月17日丨中国银河(06881.HK)公告，亦提述公司日期为2025年10月14日之公告，内容有关公司 收到中国证券监督管理委员会的批覆，同意公司向专业投资者公开发行面值余额 ...

Core Viewpoint - China Galaxy Securities (06881) has successfully completed the public issuance of its 2025 short-term corporate bonds (Phase I) on November 17, 2025, with a total issuance scale of RMB 3 billion [1] Group 1 - The bond has a face value and issuance price of RMB 100 per unit [1] - The term of the bond is 184 days, with a final coupon rate of 1.67% [1] - The funds raised from this bond issuance will be used to repay the company's maturing debts [1]

智通财经APP讯，中国银河(06881)发布公告，根据股东授权及中国证券监督管理委员会的批复，本公司 已于2025年11月17日完成2025年短期公司债券(第一期)公开发行(本期债券)。本期债券的发行规模为人 民币30亿元，面值及发行价均为每单位人民币 100元。本期债券的期限为184天，最终票面利率为 1.67%。本期债券发行所募集的资金将用于偿还本公司到期债务。 ...

Core Viewpoint - China Galaxy Securities (06881.HK) has received approval from the China Securities Regulatory Commission to publicly issue short-term corporate bonds with a face value of up to RMB 15 billion, and has successfully completed the issuance of RMB 3 billion in bonds on November 17, 2025 [1][2] Group 1: Bond Issuance Details - The total issuance scale of the bonds is RMB 3 billion, with a face value and issuance price of RMB 100 per unit [1] - The bonds have a maturity of 184 days and a final coupon rate of 1.67% [1] - The funds raised from this bond issuance will be used to repay the company's maturing debts [1] Group 2: Subscription Information - Dachen Fund Management Co., Ltd. subscribed for RMB 20 million of the bonds, which is considered a related party transaction [1] - The main underwriter, China Merchants Securities Co., Ltd., had its affiliate, Industrial Fund Management Co., Ltd., subscribe for RMB 300 million of the bonds [2] - Another affiliate of the main underwriter, CITIC Bank Corporation Limited, subscribed for RMB 500 million of the bonds [2]

（在中華人民共和國註冊成立之股份有限公司） （股份代號：06881） 董事會欣然宣布，根據上述股東授權及中國證券監督管理委員會的批覆，本公 司已於2025年11月17日完成2025年短期公司債券（第一期）公開發行（「本期債 券」）。本期債券的發行規模為人民幣30億元，面值及發行價均為每單位人民幣 100元。本期債券的期限為184天，最終票面利率為1.67%。本期債券發行所募集 的資金將用於償還本公司到期債務。 公告 2025年短期公司債券（第一期）公開發行完畢 茲提述中國銀河證券股份有限公司（「本公司」）日期為2025年1月23日的通函以 及2025年2月17日之公告。於2025年2月17日召開的2025年第一次臨時股東大會 上，本公司通過了股東大會對本公司董事會（「董事會」）的授權方案的修訂，據 此，股東大會授權董事會發行債務融資工具，發行規模合計不超過本公司最近一 期經審計淨資產的350%。 亦提述本公司日期為2025年10月14日之公告，內容有關本公司收到中國證券監督 管理委員會的批覆，同意本公司向專業投資者公開發行面值餘額不超過人民幣150 億元的短期公司債券。 香港交易及結算所有限公司及香港聯合交易 ...