Core Viewpoint - China Galaxy Securities (601881) has successfully completed a private placement of corporate bonds amounting to RMB 5 billion on November 19, 2025, aimed at professional investors [1] Group 1: Bond Issuance Details - The total issuance scale of the bonds is RMB 50 billion, with a face value and issuance price of RMB 100 per unit [1] - The bonds consist of two varieties: a two-year term with a final issuance scale of RMB 3.7 billion and a final coupon rate of 1.92%, and a three-year term with a final issuance scale of RMB 1.3 billion and a final coupon rate of 1.97% [1] - The funds raised from this bond issuance will be used to repay the principal of maturing corporate bonds [1]

Group 1 - China Galaxy (06881.HK) completed a private placement of corporate bonds totaling RMB 5 billion on November 19, 2025, with a face value and issue price of RMB 100 per unit [1] - The bond issuance consists of two types: a two-year bond with a final issuance size of RMB 3.7 billion at a coupon rate of 1.92%, and a three-year bond with a final issuance size of RMB 1.3 billion at a coupon rate of 1.97% [1] - The funds raised from this bond issuance will be used to repay maturing corporate bond principal [1] Group 2 - As of November 19, 2025, China Galaxy's stock closed at HKD 10.6, with a trading volume of 15.58 million shares and a turnover of HKD 165 million [1] - The stock is rated as outperform by investment banks, with a target price of HKD 13.8 based on a report from CICC [1] - China Galaxy has a market capitalization of HKD 39.124 billion, ranking third in the securities industry [1] Group 3 - Key financial metrics for China Galaxy include a Return on Equity (ROE) of 8.61%, a net profit margin of 34.51%, and a debt-to-equity ratio of 81.56% [2] - The company’s operating revenue stands at RMB 42.499 billion, significantly higher than the industry average of RMB 15.119 billion [2] - In terms of industry ranking, China Galaxy holds the 7th position in ROE, 10th in net profit margin, and 29th in debt-to-equity ratio among 36 companies in the securities industry [2]

Core Viewpoint - China Galaxy (06881) has successfully completed a private placement of corporate bonds amounting to RMB 5 billion on November 19, 2025, aimed at professional investors [1] Group 1: Bond Issuance Details - The total issuance scale of the bonds is RMB 5 billion, with a face value and issuance price of RMB 100 per unit [1] - The bonds consist of two varieties: a two-year term and a three-year term [1] - The final issuance scale for the two-year bonds is RMB 3.7 billion with a final coupon rate of 1.92% [1] - The final issuance scale for the three-year bonds is RMB 1.3 billion with a final coupon rate of 1.97% [1] Group 2: Fund Utilization - The funds raised from this bond issuance will be used to repay the principal of maturing corporate bonds [1]

Core Points - China Galaxy Securities (06881.HK) announced the completion of a non-public issuance of corporate bonds to professional investors, approved by the Shanghai Stock Exchange, on November 19, 2025 [1] Group 1: Bond Issuance Details - The total issuance scale of the bonds is RMB 5 billion, with a face value and issuance price of RMB 100 per unit [1] - The bonds consist of two types: a two-year bond with a final issuance scale of RMB 3.7 billion and a final coupon rate of 1.92%, and a three-year bond with a final issuance scale of RMB 1.3 billion and a final coupon rate of 1.97% [1] - The funds raised from this bond issuance will be used to repay the principal of maturing corporate bonds [1]