Zhi Tong Cai Jing·2025-11-20 12:19Core Points - The company announced the completion of the issuance of subordinated bonds by its subsidiary, Shenwan Hongyuan Securities, on November 13, 2025 [1] - The total issuance size of the bonds is RMB 2.5 billion, with two varieties: one for RMB 1.8 billion with a 3-year term and a coupon rate of 2.00%, and another for RMB 700 million with a 5-year term and a coupon rate of 2.15% [1] - The bonds are scheduled to be listed on the Shenzhen Stock Exchange starting November 19, 2025, and will be traded among institutional investors [1] Summary by Category Bond Issuance - The total size of the bond issuance is RMB 2.5 billion [1] - Variety one has an issuance size of RMB 1.8 billion, a term of 3 years, and a coupon rate of 2.00% [1] - Variety two has an issuance size of RMB 700 million, a term of 5 years, and a coupon rate of 2.15% [1] Listing Information - The bonds will be listed on the Shenzhen Stock Exchange on November 19, 2025 [1] - The bond names are "25申证C3" for variety one and "25申证C4" for variety two, with respective codes "524526" and "524527" [1] - The bonds are targeted at professional institutional investors [1]