Sou Hu Cai Jing·2026-01-20 09:43Core Viewpoint - Guangfa Securities has received approval from the China Securities Regulatory Commission (CSRC) to publicly issue perpetual subordinated bonds totaling up to 20 billion yuan to professional investors [1]. Group 1: Stock Performance - As of January 20, 2026, Guangfa Securities closed at 22.77 yuan, an increase of 1.52% from the previous trading day [1]. - The stock opened at 22.38 yuan, reached a high of 22.92 yuan, and a low of 22.35 yuan, with a trading volume of 1.337 billion yuan and a turnover rate of 1.0% [1]. Group 2: Bond Issuance - The company has been approved to issue perpetual subordinated bonds with a total face value not exceeding 20 billion yuan [1]. - The issuance must strictly follow the prospectus submitted to the Shenzhen Stock Exchange and is valid for 24 months from the date of approval [1]. - The company is required to report any significant events during the registration period and fulfill its information disclosure obligations [1].