Core Points - Northeast Securities Co., Ltd. will publicly issue the sixth phase of short-term corporate bonds aimed at professional investors, which will be listed on the Shenzhen Stock Exchange starting September 1, 2025 [1][2] - The total issuance amount of the bonds is RMB 1.5 billion [2] - The bonds have a fixed interest rate of 1.77% and a maturity period of 345 days [2] Bond Details - Bond Name: Northeast Securities Co., Ltd. 2025 Short-term Corporate Bonds (Sixth Phase) [1] - Bond Code: 524413 [2] - Credit Ratings: Issuer rating is AAA, and the bond rating is A-1 [2] - Issuance Date: August 26-27, 2025 [2] - Interest Payment: One-time payment at maturity [2] - Maturity Date: August 7, 2026 [2] - Face Value: RMB 100 per bond [2] - Opening Reference Price: RMB 100 per bond [2]

Core Points - Northeast Securities Co., Ltd. has received approval from the China Securities Regulatory Commission to publicly issue short-term corporate bonds for professional investors, with a total issuance limit of up to RMB 50 billion [2] - The specific issuance scale for the sixth phase of these bonds is set at a maximum of RMB 15 billion, with a face value of RMB 100 per bond, and the issuance will be conducted through offline inquiries to professional institutional investors [2] - The issuance period for these bonds is from August 26, 2025, to August 27, 2025, with a final issuance amount of RMB 15 billion, representing 100% of the planned issuance scale, and a coupon rate of 1.77% with a subscription multiple of 2.5933 times [2][3] Regulatory Compliance - All investors participating in the bond subscription meet the requirements set forth in relevant regulations, including the "Measures for the Issuance and Trading of Corporate Bonds" and the "Shenzhen Stock Exchange Corporate Bond Listing Rules (2023 Revision)" [3]

Group 1 - The core point of the announcement is that Northeast Securities Co., Ltd. has received approval from the China Securities Regulatory Commission to publicly issue short-term corporate bonds for professional investors, with a total issuance scale of up to RMB 15 billion [1][2] - The bond issuance will have a face value balance not exceeding RMB 50 billion, indicating a significant capacity for future financing [1] - The final coupon rate for the bonds has been set at 1.77%, following an inquiry process with professional institutional investors, where the rate range was between 1.50% and 1.77% [1][2] Group 2 - The bonds will be issued on August 26-27, 2025, specifically targeting professional institutional investors through an offline issuance method [2] - Detailed subscription methods will be published on the Shenzhen Stock Exchange and other financial information platforms prior to the issuance date [2]

Company Overview - Northeast Securities Co., Ltd. has a long-standing history, originally established in 1988, and has undergone several transformations to become a comprehensive national listed securities company [9][10] - The company has a registered capital of 2.34 billion RMB as of March 2025, with a diversified ownership structure and no controlling shareholder [9][10] Credit Rating - The company received a long-term credit rating of AAA and a short-term credit rating of A-1, with a stable outlook as of August 15, 2025 [3][4] - The issuance scale for the upcoming short-term corporate bonds is capped at 1.5 billion RMB, with a maturity of 345 days [3][13] Financial Performance - As of March 2025, the total assets of the company amounted to 883.95 billion RMB, with net capital at 140.18 billion RMB [6][19] - The company reported a total operating income of 14.85 billion RMB and a net profit of 2.75 billion RMB for the first quarter of 2025, showing an increase compared to previous periods [6][19] Business Operations - The company operates a comprehensive range of services including wealth management, securities investment, fund management, asset management, investment banking, and futures brokerage [9][10] - It has established a marketing network covering 66 major cities across 28 provinces, with a strong competitive advantage in Jilin Province [5][17] Risk Management and Governance - The company has a well-structured governance framework with a clear separation of powers among the shareholders, board of directors, and management [21][22] - The internal control and risk management systems are in place, although there is room for improvement in internal control management [23] Industry Context - The securities industry is experiencing significant regulatory scrutiny, with a notable increase in penalties for non-compliance, which may impact operational performance [15][16] - The market remains sensitive to economic cycles, with performance closely tied to capital market fluctuations and regulatory changes [14][15]