The Board of Directors and all members of the Board of Directors of Guoyuan Securities Co., Ltd. guarantee the truthfulness, accuracy, and completeness of the information disclosed in this announcement and shall bear joint and several liability for any false representations, misleading statements, or material omissions.
Important Notes
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Guoyuan Securities Co., Ltd. (hereinafter referred to as "the Issuer," "the Company," or "the Company") has obtained the approval for the public offering of corporate bonds with a face value not exceeding RMB 13 billion (hereinafter referred to as "the Bonds") from the China Securities Regulatory Commission (Document No. [2026] 160).
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The Bonds will be issued in tranches. Guoyuan Securities Co., Ltd.'s 2026 Public Offering of Corporate Bonds to Professional Investors (Phase III) (hereinafter referred to as "this Tranche of Bonds") is the fourth issuance under the approval for the Bonds. The issuance size of this Tranche of Bonds shall not exceed RMB 1 billion (inclusive of RMB 1 billion), with a face value of RMB 100 per bond. The number of bonds issued shall not exceed 10 million, and the issue price is RMB 100 per bond. The term of this Tranche of Bonds is 3 years, referred to as "26 Guoyuan 04," with the bond code "524910.SZ."
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In accordance with the "Securities Law" and other relevant regulations, this Tranche of Bonds is exclusively offered to institutional investors among professional investors. Retail investors and individual investors among professional investors are not permitted to subscribe. After listing, this Tranche of Bonds will be subject to investor suitability management. Only institutional investors among professional investors will participate in transactions. Subscriptions or purchases by retail investors and individual investors among professional investors will be invalid.
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According to the credit rating report for Guoyuan Securities Co., Ltd.'s 2026 Public Offering of Corporate Bonds to Professional Investors (Phase III) issued by CICC Credit Rating Co., Ltd., the credit rating for this Tranche of Bonds is AAA, and the Issuer's main body credit rating is AAA, with a stable outlook. As of December 31, 2025, the Issuer's net assets on a consolidated basis were RMB 38.15 billion, with a consolidated asset-liability ratio of 73.27% and a parent company asset-liability ratio of 72.56% (the calculation of the asset-liability ratio excludes securities sold on behalf of clients and securities underwritten). For the years 2023, 2024, and 2025, the net profit attributable to the parent company shareholders on a consolidated basis was RMB 1.868 billion, RMB 2.244 billion, and RMB 2.426 billion, respectively. The average distributable profit for the last three fiscal years (2023, 2024, and 2025) was RMB 2.179 billion, which is expected to be no less than 1 times the annual interest of this Tranche of Bonds. The Issuer's financial indicators meet the relevant requirements for issuing corporate bonds prior to the issuance of this Tranche of Bonds. As of the signing date of the prospectus, the Issuer's financial indicators still meet the statutory issuance conditions for public offering of corporate bonds, and there are no circumstances prohibiting the issuance of corporate bonds under relevant laws and regulations.
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Upon completion of this issuance, the Company will promptly submit an application to the Shenzhen Stock Exchange for the listing and trading of this Tranche of Bonds. This Tranche of Bonds meets the listing requirements of the Shenzhen Stock Exchange and will be traded through matching, click-to-trade, inquiry, competitive bidding, and negotiation transactions. However, prior to the listing of this Tranche of Bonds, significant changes may occur in the Company's financial condition, operating performance, cash flow, and credit rating. The Company cannot guarantee that the application for listing of this Tranche of Bonds will be approved by the Shenzhen Stock Exchange. If this Tranche of Bonds cannot be listed, investors have the option to sell their bonds back to the Company. Investors shall bear the investment risks and liquidity risks arising from changes in the Company's operations and performance. This Tranche of Bonds cannot be listed on any exchange other than the Shenzhen Stock Exchange.