Northeast Securities Co., Ltd. 2026 Public Offering of Short-Term Corporate Bonds for Professional Investors (Phase IV) Credit Rating Report

Credit Rating Announcement

Lianhe [2026] No. 6895

Lianhe Credit Rating Co., Ltd. has conducted a comprehensive analysis and evaluation of the credit status of Northeast Securities Co., Ltd. and its 2026 short-term corporate bonds (Phase IV) intended for public offering to professional investors. Northeast Securities Co., Ltd. has been assigned a long-term credit rating of AAA, and the 2026 short-term corporate bonds (Phase IV) for public offering to professional investors have been assigned a credit rating of A-1, with a stable rating outlook.

This announcement is hereby made.

Rating Director: [blank]

August 3, 2026

Add: 17/F, PICC Building, 2, Jianguomenwai Street, Beijing PRC:100022

Address: 17th Floor, PICC Building, No. 2 Jianguomenwai Street, Chaoyang District, Beijing, 100022

Tel: (010) 85679696 | Fax: (010) 85679228 | Email: lianhe@lhratings.com

Statement

I. This report is a statement of independent opinion based on Lianhe Credit's rating methodology and procedures as of the date of issuance, free from the influence of any institution or individual. The rating conclusions and related analyses are forward-looking opinions expressed by Lianhe Credit based on relevant information and materials regarding the rated entity, not statements of fact or attestations regarding the rated entity. Lianhe Credit has sufficient reason to guarantee that the rating report issued adheres to the principles of truthfulness, objectivity, and fairness. Given the nature of credit rating work and its susceptibility to objective conditions, this report has limitations in terms of information acquisition, rating methodology and models, and future event assessment.

II. This report is issued by Lianhe Credit at the request of Northeast Securities Co., Ltd. (hereinafter referred to as "the Company"). Apart from the rating engagement relationship between Lianhe Credit and the Company for this rating, there are no other relationships that influence the independence, objectivity, and fairness of Lianhe Credit's rating activities.

III. The information cited in this report is primarily provided by the Company or third-party related entities. Lianhe Credit has performed necessary due diligence, but it does not guarantee the truthfulness, accuracy, and completeness of the cited information. Lianhe Credit reasonably adopts the professional opinions issued by other professional institutions, but Lianhe Credit assumes no responsibility for the professional opinions issued by such institutions.

IV. The credit rating results in this report are applicable only to the current (period) bonds and are valid for the duration of the current (period) bonds. Based on the conclusions of the rating surveillance, the rating results may change within the validity period. Lianhe Credit reserves the right to adjust, update, terminate, and withdraw the rating results.

V. The rating conclusions and related analyses contained in this report do not constitute any investment or financial advice, and should not be regarded as recommendations or guarantees for the purchase, sale, or holding of any financial products.

VI. This report cannot replace the professional judgment of any institution or individual. Lianhe Credit shall not be liable for any losses incurred by any institution or individual due to the use of this report and its rating results.

VII. The copyright of this report belongs to Lianhe Credit. Without written authorization, it is strictly prohibited to copy, reprint, sell, publish, or store any content of this report in any form or by any means in a database or retrieval system.

VIII. Any institution or individual using this report is deemed to have fully read, understood, and agreed to the terms of this statement.

Rating Report

Rating of Northeast Securities Co., Ltd. 2026 Public Offering of Short-Term Corporate Bonds for Professional Investors (Phase IV)