Zheng Quan Zhi Xing·2025-08-21 16:46Group 1 - The issuer, GF Securities Co., Ltd., has received approval from the China Securities Regulatory Commission to publicly issue corporate bonds with a total face value of no more than 20 billion RMB, with this specific issuance being a continuation of a previous bond series [3][4] - The current bond issuance is capped at 3 billion RMB, maintaining the same terms as the previously issued bonds, including a maturity of 3 years and a coupon rate of 1.80% [3][4][12] - The bonds will be issued to professional institutional investors only, excluding individual investors from both ordinary and professional categories [4][5] Group 2 - The average net profit attributable to the parent company over the last three fiscal years is reported at 8.181 billion RMB, which meets the requirement to cover at least one year's interest on the bonds [4][12] - The issuer's consolidated net assets as of March 2025 are reported at 155.705 billion RMB, with a consolidated debt-to-asset ratio of 75.92% [4][12] - The bonds are rated AAA, indicating a strong credit quality, and the issuer plans to conduct annual follow-up ratings during the bond's term [12][19] Group 3 - The pricing inquiry for the bonds is set between 98.683 RMB and 101.530 RMB, with the final price determined through a book-building process [6][13] - The subscription period for the bonds is scheduled from August 25 to August 26, 2025, with a minimum subscription unit of 10 million RMB [19][20] - The issuer and underwriters have committed to fair pricing practices and have established measures to prevent any manipulation of the issuance process [7][8]