Group 1: Report Industry Investment Rating - No information provided in the report Group 2: Core Viewpoints of the Report - In the primary market, 7 green bonds were newly issued in the inter - bank and exchange markets from April 28, 2025, to May 2, 2025, with a total issuance scale of about 8.475 billion yuan, a decrease of 27.725 billion yuan from the previous week. The issuance terms were mostly 3 years, and the issuers included local state - owned enterprises, central enterprise subsidiaries, central state - owned enterprises, and other state - owned enterprises. The bond types included medium - term notes, enterprise ABS, private corporate bonds, etc. [1] - In the secondary market, the total weekly trading volume of green bonds from April 28, 2025, to May 2, 2025, was 41.4 billion yuan, a decrease of 8.9 billion yuan from the previous week. The top three bond types in terms of trading volume were non - financial corporate credit bonds, financial institution bonds, and interest - rate bonds. Green bonds with a term of less than 3 years had the highest trading volume, accounting for about 83.49%. The top three industries in terms of trading volume were finance, public utilities, and non - ferrous metals. The top three regions in terms of trading volume were Beijing, Guangdong, and Hubei. [2] - The overall deviation of the weekly average trading price valuation of green bonds from April 28, 2025, to May 2, 2025, was not large. The discount trading amplitude was smaller than the premium trading amplitude, and the proportion of discount trading was greater than that of premium trading. [3] Group 3: Summary According to Relevant Catalogs Primary Market Issuance Situation - 7 green bonds were newly issued, with a total scale of about 8.475 billion yuan, a decrease of 27.725 billion yuan from the previous week. The issuance terms were mostly 3 years. The issuers' nature included local state - owned enterprises, central enterprise subsidiaries, etc. The issuers were located in Beijing, Yunnan, Guangdong, and Henan. The bond types included medium - term notes, enterprise ABS, etc. [1] Secondary Market Transaction Situation - The total weekly trading volume was 41.4 billion yuan, a decrease of 8.9 billion yuan from the previous week. By bond type, non - financial corporate credit bonds, financial institution bonds, and interest - rate bonds had the highest trading volumes. By issuance term, bonds with a term of less than 3 years had the highest trading volume, accounting for about 83.49%. By issuer's industry, finance, public utilities, and non - ferrous metals had the highest trading volumes. By issuer's region, Beijing, Guangdong, and Hubei had the highest trading volumes. [2] Valuation Deviation of the Top 30 Individual Bonds - Discount Bonds: The top two discount - rate bonds were "20 Henan 39" (- 0.7464%) and "19 Yiling Great Protection Green NPB" (- 0.5155%). The main industries of the issuers were finance, real estate, and public utilities. The Zhongzheng implicit ratings were mainly AA +, AAA, and AA. The regions were mainly Hubei, Beijing, and Tianjin. [3] - Premium Bonds: The top three premium - rate bonds were "25 Conch Environmental Protection GN001" (0.8516%), "25 China Resources Leasing GN002 (Carbon - Neutral Bond)" (0.5156%), and "Port and Shipping 1 Preferred" (0.2596%). The main industries of the issuers were finance, construction, transportation, etc. The Zhongzheng implicit ratings were mainly AA + and AA. The regions were mainly Guangdong and Beijing. [3]
绿色债券周度数据跟踪-20250505
Soochow Securities·2025-05-05 13:31