Ge Long Hui·2026-01-15 09:56Core Viewpoint - China Galaxy Securities (06881.HK) has successfully completed the public issuance of its 2026 perpetual subordinated bonds (Phase 1) on January 15, 2026, with a total issuance size of RMB 5 billion [1] Group 1: Bond Issuance Details - The bonds were issued at a price of RMB 100 per unit [1] - The bonds have a repricing cycle of five years, with the first coupon rate set at 2.37% for the initial five-year period [1] - The company has the option to extend the bond term for an additional repricing cycle or fully redeem the bonds at the end of each cycle [1] Group 2: Fund Utilization - Proceeds from the bond issuance will be used to supplement the company's working capital [1] Group 3: Underwriting Participation - The main underwriter, CITIC Securities Co., Ltd., subscribed to RMB 150 million of the bonds [1] - Other participating underwriters include Shenwan Hongyuan Securities Co., Ltd. and its affiliate, which subscribed for RMB 120 million, and Guotai Junan Securities Co., Ltd. and its affiliates, which subscribed for RMB 140 million and RMB 50 million respectively [1]