Ge Long Hui·2026-01-23 10:44Core Viewpoint - Guangfa Securities has received approval from the China Securities Regulatory Commission to publicly issue short-term corporate bonds with a total face value of up to RMB 30 billion [1] Group 1: Bond Issuance Details - The company plans to issue short-term corporate bonds (Phase 1) aimed at professional investors, with a maximum issuance scale of RMB 30 billion [1] - The bonds will be issued at a price of RMB 100 per bond, utilizing a pricing inquiry and allocation method directed at professional institutional investors [1] - The issuance period is set from January 22, 2026, to January 23, 2026, with a final issuance scale of RMB 30 billion and a final coupon rate of 1.68% [1] Group 2: Subscription Metrics - The subscription multiple for the bonds reached 4.40 times, indicating strong demand from investors [1]