Core Viewpoint - Guangfa Securities has received approval from the China Securities Regulatory Commission to publicly issue corporate bonds totaling up to 20 billion yuan, with the current issuance plan set at a maximum of 4.47 billion yuan [1] Group 1: Bond Issuance Details - The company plans to issue the sixth phase of corporate bonds aimed at professional institutional investors, with a total issuance scale not exceeding 4.47 billion yuan [1] - The inquiry for the coupon rates was conducted on November 6, 2025, with the first type's rate range set between 1.30% and 2.30%, and the second type's rate range between 1.40% and 2.40% [1] - The final coupon rates were determined at 1.84% for the first type (bond abbreviation: "25 Guangfa 11", bond code: "524520") and 2.03% for the second type (bond abbreviation: "25 Guangfa 12", bond code: "524521") [1]