ChinaBond-- ChinaBond Valuation

ChinaBond Valuation

Date	Bond Name	Bond Code	Market	Maturity(Yrs)	Full Price(Mid-Day) (Yuan)	Accrued Interest (Mid-Day) (Yuan)	Net Price (Yuan)	YTM (%)	ChinaBond Market Implied Rating
2020-07-10	17慈湖高新PPN002	031779023	China Inter-Bank Market	2.3361	106.3761	4.1828	102.1933	5.2609	AA(2)
2020-07-10	19辽成大CP001	041900329	China Inter-Bank Market	0.1284	103.3462	3.3295	100.0167	3.5701	AA
2020-07-10	06航天债	068016	China Inter-Bank Market	0.7726	101.6850	0.9096	100.7754	2.9467	AAA
2020-07-10	09国开06	090206	China Inter-Bank Market	8.9946	107.0645	0.0250	107.0395	3.6738
2020-07-10	18苏国信MTN001B	101800377	China Inter-Bank Market	0.7589	102.5590	1.1669	101.3921	2.9307	AAA
2020-07-10	20兴业银行CD172	112010172	China Inter-Bank Market	0.1260	99.7244	0.1771	99.5473	2.1930	AAA-
2020-07-10	12附息国债15	120015	Commercial Bank Counter Market	2.1209	103.0506	1.2852	101.7654	2.5289
2020-07-10	20合川01	166884	Shanghai Stock Exchange	4.8767	99.3297	0.8260	98.5037	7.8640	AA(2)
2020-07-10	20河南债19	2005236	Shanghai Stock Exchange	9.7038	98.2289	0.8738	97.3551	3.2699	AAA
2020-07-10	20锡新城债	2080027	China Inter-Bank Market	6.6712	98.9104	1.4696	97.4408	5.0994	AA(2)

Date	Bond Name	Bond Code	Bond Property	Market	Maturity(Yrs)	Full Price(Mid-Day) (Yuan)	Accrued Interest (Mid-Day) (Yuan)	Net Price (Yuan)	YTM (%)	Modified Duration	Convexity	BPV	Recommendation	Full Price (End Day)(Yuan)	Accrued Interest (End Day) (Yuan)	Residual Principal(Yuan)	Absolute Liquidity Index	Position Percentile	Relative Liquidity Index	Relative Liquidity Reference Value	ChinaBond Market Implied Rating	ISIN
2020-07-10	17慈湖高新PPN002	031779023	PPNs	China Inter-Bank Market	2.3361	106.3761	4.1828	102.1933	5.2609	2.06	6.41	0.0219	recommend	106.3933	4.2000	100.0000	0.00	11.02	0.00	0.10	AA(2)	CND100015452
2020-07-10	19辽成大CP001	041900329	Commercial Papers	China Inter-Bank Market	0.1284	103.3462	3.3295	100.0167	3.5701	0.13	0.03	0.0013	recommend	103.3566	3.3399	100.0000	0.00	11.02	0.00	0.10	AA	CND10002FX27
2020-07-10	06航天债	068016	Central Government Owned Enterprise Bonds	China Inter-Bank Market	0.7726	101.6850	0.9096	100.7754	2.9467	0.76	1.14	0.0077	recommend	101.6960	0.9205	100.0000	0.00	11.02	0.00	0.10	AAA	CND000000LJ6
2020-07-10	09国开06	090206	Policy Bank Bonds	China Inter-Bank Market	8.9946	107.0645	0.0250	107.0395	3.6738	7.39	64.64	0.0791	recommend	107.0770	0.0375	100.0000	0.00	11.02	0.00	0.10		CND100001Q01
2020-07-10	18苏国信MTN001B	101800377	Medium-Term Notes	China Inter-Bank Market	0.7589	102.5590	1.1669	101.3921	2.9307	0.74	1.10	0.0076	recommend	102.5722	1.1802	100.0000	0.00	3.94	0.00	0.77	AAA	CND1000164D9
2020-07-10	20兴业银行CD172	112010172	Negotiable Certificates of Deposit	China Inter-Bank Market	0.1260	99.7244	0.1771	99.5473	2.1930	0.13	0.03	0.0013	recommend	99.7282	0.1809	99.6459	0.00	11.02	0.00	0.10	AAA-	CND100039D85
2020-07-10	12附息国债15	120015	Book-Entry Treasury Bonds	Commercial Bank Counter Market	2.1209	103.0506	1.2852	101.7654	2.5289	2.01	5.17	0.0208	recommend	103.0600	1.2945	100.0000	1.00		1.00	1.00		CND100005L85
2020-07-10	20合川01	166884	Corporate Bonds	Shanghai Stock Exchange	4.8767	99.3297	0.8260	98.5037	7.8640	2.51	8.88	0.0249	recommend	99.3481	0.8444	100.0000	0.00	6.05	0.00	0.10	AA(2)
2020-07-10	20河南债19	2005236	Local Government Bonds	Shanghai Stock Exchange	9.7038	98.2289	0.8738	97.3551	3.2699	8.28	79.33	0.0813	recommend	98.2369	0.8818	100.0000	0.00	6.05	0.00	0.10	AAA	CND10002TD74
2020-07-10	20锡新城债	2080027	Local Government Owned Enterprise Bonds	China Inter-Bank Market	6.6712	98.9104	1.4696	97.4408	5.0994	4.00	22.29	0.0396	recommend	98.9227	1.4818	100.0000	0.00	11.02	0.00	0.10	AA(2)	CND10002RWY3

Chinabond CCRE Credit Assets Valuation

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Date	Code	Short Name	Maturity(Yrs)	Full Price(Yuan)	Net Price(Yuan)	Accrued Interest(Yuan)	Yield to Maturity(%)	Residue Principal(Yuan)	Recommendation	Remarks
2020-07-10	01900265	天风2019年第一期优先C	1.1288	100.5646	99.5783	0.9863	8.6719	100.0000	Recommend	Based on the data of underlying assets
2020-07-10	01900265	天风2019年第一期优先C	3.8795	100.5646	99.5783	0.9863	8.6719	100.0000		Based on the data of underlying assets
2020-07-10	02000018	中铁金租2019年第二期优先A2类	1.2685	101.9072	101.5510	0.3562	4.0045	100.0000	Recommend	Based on the data of underlying assets
2020-07-10	02000018	中铁金租2019年第二期优先A2类	5.2274	101.9072	101.5510	0.3562	4.0045	100.0000		Based on the data of underlying assets
2020-07-10	01900259	杭瑞2019年第一期优先A2档	1.1671	100.5549	100.5409	0.0139	3.7792	99.6478	Recommend	Based on the data of underlying assets
2020-07-10	01900259	杭瑞2019年第一期优先A2档	3.6658	100.5549	100.5409	0.0139	3.7792	99.6478		Based on the data of underlying assets
2020-07-10	02000017	中铁金租2019年第二期优先A1类	0.4356	100.6551	100.3675	0.2877	3.3734	100.0000	Recommend	Based on the data of underlying assets
2020-07-10	02000017	中铁金租2019年第二期优先A1类	5.2274	100.6551	100.3675	0.2877	3.3734	100.0000		Based on the data of underlying assets
2020-07-10	01900369	19南京银行鑫众7号优先A3	2.1671	102.6766	102.6601	0.0164	4.0944	100.0000	Recommend	Based on the data of underlying assets
2020-07-10	01900369	19南京银行鑫众7号优先A3	5.2192	102.6766	102.6601	0.0164	4.0944	100.0000		Based on the data of underlying assets

Date	Code	Short Name	Originator	Coupon Rate(%)	Asset Credit Rating	Maturity(Yrs)	Maturity Type	Full Price(Yuan)	Net Price(Yuan)	Accrued Interest(Yuan)	Yield to Maturity(%)	Residue Principal(Yuan)	Recommendation	Remarks
2020-07-10	01900265	天风2019年第一期优先C	武汉众邦银行股份有限公司	8.0000	BBB	1.1288	Based on Expected Maturity Date	100.5646	99.5783	0.9863	8.6719	100.0000	Recommend	Based on the data of underlying assets
2020-07-10	01900265	天风2019年第一期优先C	武汉众邦银行股份有限公司	8.0000	BBB	3.8795	Based on Final Maturity Date	100.5646	99.5783	0.9863	8.6719	100.0000		Based on the data of underlying assets
2020-07-10	02000018	中铁金租2019年第二期优先A2类	中铁建金融租赁有限公司	5.2000	AAA	1.2685	Based on Expected Maturity Date	101.9072	101.5510	0.3562	4.0045	100.0000	Recommend	Based on the data of underlying assets
2020-07-10	02000018	中铁金租2019年第二期优先A2类	中铁建金融租赁有限公司	5.2000	AAA	5.2274	Based on Final Maturity Date	101.9072	101.5510	0.3562	4.0045	100.0000		Based on the data of underlying assets
2020-07-10	01900259	杭瑞2019年第一期优先A2档	杭州银行股份有限公司	5.1000	AAA	1.1671	Based on Expected Maturity Date	100.5549	100.5409	0.0139	3.7792	99.6478	Recommend	Based on the data of underlying assets
2020-07-10	01900259	杭瑞2019年第一期优先A2档	杭州银行股份有限公司	5.1000	AAA	3.6658	Based on Final Maturity Date	100.5549	100.5409	0.0139	3.7792	99.6478		Based on the data of underlying assets
2020-07-10	02000017	中铁金租2019年第二期优先A1类	中铁建金融租赁有限公司	4.2000	AAA	0.4356	Based on Expected Maturity Date	100.6551	100.3675	0.2877	3.3734	100.0000	Recommend	Based on the data of underlying assets
2020-07-10	02000017	中铁金租2019年第二期优先A1类	中铁建金融租赁有限公司	4.2000	AAA	5.2274	Based on Final Maturity Date	100.6551	100.3675	0.2877	3.3734	100.0000		Based on the data of underlying assets
2020-07-10	01900369	19南京银行鑫众7号优先A3	南京银行股份有限公司	6.0000	AAA	2.1671	Based on Expected Maturity Date	102.6766	102.6601	0.0164	4.0944	100.0000	Recommend	Based on the data of underlying assets
2020-07-10	01900369	19南京银行鑫众7号优先A3	南京银行股份有限公司	6.0000	AAA	5.2192	Based on Final Maturity Date	102.6766	102.6601	0.0164	4.0944	100.0000		Based on the data of underlying assets

Insurance Asset Management Products Valuation

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Date	Code	Maturity(Yrs)	Full Price(Mid-Day)(Yuan)	Accrued Interest(Mid-Day)(Yuan)	Net Price(Yuan)	YTM (%)	Recommendation
2020-07-09	10919000111	4.7342	97.0425	0.3123	96.7302	6.9862	Recommend
2020-07-09	10919000111	8.7397	93.0872	0.3123	92.7749	7.3055
2020-07-09	10919000135	1.7973	101.6087	0.4734	101.1352	6.6872	Recommend
2020-07-09	10919000135	5.8000	99.4645	0.4734	98.9911	7.6207
2020-07-09	10919000155	1.8658	99.0620	0.2811	98.7809	6.2372	Recommend
2020-07-09	10919000155	7.8740	90.6031	0.2811	90.3220	7.1923
2020-07-09	10913000040	0.2685	40.4130	0.0736	40.3393	5.3023	Recommend
2020-07-09	10913000056	2.1425	90.4857	0.1246	90.3611	6.0637	Recommend
2020-07-09	10918000413	3.3918	103.5905	2.7822	100.8083	5.7605	Recommend
2020-07-09	10918000424	3.4329	100.4956	0.2737	100.2219	5.5505	Recommend

Date	Code	Maturity(Yrs)	Full Price(Mid-Day)(Yuan)	Accrued Interest(Mid-Day)(Yuan)	Net Price(Yuan)	YTM (%)	Full Price(End Day)(Yuan)	Accrued Interest(End Day)(Yuan)	Recommendation
2020-07-09	10919000111	4.7342	97.0425	0.3123	96.7302	6.9862	97.0590	0.3288	Recommend
2020-07-09	10919000111	8.7397	93.0872	0.3123	92.7749	7.3055	93.1037	0.3288
2020-07-09	10919000135	1.7973	101.6087	0.4734	101.1352	6.6872	101.6284	0.4932	Recommend
2020-07-09	10919000135	5.8000	99.4645	0.4734	98.9911	7.6207	99.4843	0.4932
2020-07-09	10919000155	1.8658	99.0620	0.2811	98.7809	6.2372	99.0768	0.2959	Recommend
2020-07-09	10919000155	7.8740	90.6031	0.2811	90.3220	7.1923	90.6179	0.2959
2020-07-09	10913000040	0.2685	40.4130	0.0736	40.3393	5.3023	40.4222	0.0828	Recommend
2020-07-09	10913000056	2.1425	90.4857	0.1246	90.3611	6.0637	90.5013	0.1402	Recommend
2020-07-09	10918000413	3.3918	103.5905	2.7822	100.8083	5.7605	103.6069	2.7986	Recommend
2020-07-09	10918000424	3.4329	100.4956	0.2737	100.2219	5.5505	100.5108	0.2889	Recommend

The above Insurance Asset Management Products Valuation is compiled and released by ChinaBond Pricing Center CO.,LTD and Zhongbao Insurance Asset Registration And Exchange CO.,LTD jointly.

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