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
2021-01-25	20盐城高新PPN003	032000408	China Inter-Bank Market	4.3589	105.1178	4.0389	101.0789	6.3290	AA(2)
2021-01-25	20镇江交通CP003	042000338	China Inter-Bank Market	0.5315	101.5951	2.1316	99.4635	5.4163	AA-
2021-01-25	19川水电MTN001	101900427	China Inter-Bank Market	3.1671	105.4166	3.8312	101.5854	4.0522	AA
2021-01-25	21安顺农商行CD001	112190510	China Inter-Bank Market	0.4685	98.1544	0.0759	98.0785	3.9586	A
2021-01-25	13中化股债01	1380075	China Inter-Bank Market	2.0902	107.6331	4.5310	103.1021	3.4136	AAA-
2021-01-25	19辽宁06	157675	Shanghai Stock Exchange	18.2493	106.2403	1.0600	105.1803	3.8422	AAA
2021-01-25	20兴信02	167341	Shanghai Stock Exchange	4.5068	101.4197	2.1600	99.2597	5.2170	AA
2021-01-25	16宝应债	1680132	China Inter-Bank Market	2.1589	62.4366	2.2710	60.1656	4.2365	AA(2)
2021-01-25	18附息国债21	180021	China Inter-Bank Market	0.7096	101.5167	0.9206	100.5960	2.2952
2021-01-25	20进出03	200303	Commercial Bank Counter Market	2.1973	99.9558	1.7419	98.2138	3.0199

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	Weighted Average Full Price of Settlement(Yuan)	Weighted Average Net Price of Settlement(Yuan)	YTM on Weighted Average Full Price of Settlement (%)	Modified Duration on Weighted Average Full Price of Settlement	BPV on Weighted Average Full Price of Settlement	Recommendation	Rate Convexity on Weighted Average Full Price of Settlement	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
2021-01-25	20盐城高新PPN003	032000408	PPNs	China Inter-Bank Market	4.3589	105.1178	4.0389	101.0789	6.3290	2.07	6.46	0.0217						recommend		105.1350	4.0562	100.0000	0.00	11.70	0.00	0.10	AA(2)	CND100039SL4
2021-01-25	20镇江交通CP003	042000338	Commercial Papers	China Inter-Bank Market	0.5315	101.5951	2.1316	99.4635	5.4163	0.52	0.54	0.0053						recommend		101.6076	2.1441	100.0000	0.00	11.70	0.00	0.10	AA-	CND10003KCL5
2021-01-25	19川水电MTN001	101900427	Medium-Term Notes	China Inter-Bank Market	3.1671	105.4166	3.8312	101.5854	4.0522	2.80	11.02	0.0295						recommend		105.4292	3.8438	100.0000	0.00	11.70	0.00	0.10	AA	CND100025964
2021-01-25	21安顺农商行CD001	112190510	Negotiable Certificates of Deposit	China Inter-Bank Market	0.4685	98.1544	0.0759	98.0785	3.9586	0.47	0.43	0.0046						recommend		98.1620	0.0835	98.6257	0.00	11.70	0.00	0.10	A
2021-01-25	13中化股债01	1380075	Central Government Owned Enterprise Bonds	China Inter-Bank Market	2.0902	107.6331	4.5310	103.1021	3.4136	1.89	5.59	0.0203						recommend		107.6467	4.5446	100.0000	0.00	6.35	0.00	0.41	AAA-	CND100006DL5
2021-01-25	19辽宁06	157675	Local Government Bonds	Shanghai Stock Exchange	18.2493	106.2403	1.0600	105.1803	3.8422	12.67	205.17	0.1346						recommend		106.2520	1.0716	100.0000	0.00	5.52	0.00	0.10	AAA	CND100027SF1
2021-01-25	20兴信02	167341	Corporate Bonds	Shanghai Stock Exchange	4.5068	101.4197	2.1600	99.2597	5.2170	2.28	7.53	0.0231						recommend		101.4317	2.1720	100.0000	0.00	5.52	0.00	0.10	AA	CND10003NCN5
2021-01-25	16宝应债	1680132	Local Government Owned Enterprise Bonds	China Inter-Bank Market	2.1589	62.4366	2.2710	60.1656	4.2365	1.06	2.75	0.0066						recommend		62.4440	2.2784	60.0000	0.05	9.41	2.42	1.00	AA(2)	CND100009NG8
2021-01-25	18附息国债21	180021	Book-Entry Treasury Bonds	China Inter-Bank Market	0.7096	101.5167	0.9206	100.5960	2.2952	0.70	0.98	0.0071	101.5187	100.5981	2.2924	0.70	0.0071	recommend	0.98	101.5253	0.9293	100.0000	1.00	0.00	90.59	1.00		CND10001PZ16
2021-01-25	20进出03	200303	Policy Bank Bonds	Commercial Bank Counter Market	2.1973	99.9558	1.7419	98.2138	3.0199	2.07	6.39	0.0207						recommend		99.9617	1.7479	100.0000	1.00		1.00	1.00		CND100031KK0

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
2021-01-25	02000164	湘信-泰隆小微13号优先C	0.2493	98.0805	97.8093	0.2712	12.9397	100.0000	Recommend	Based on the data of underlying assets
2021-01-25	02000164	湘信-泰隆小微13号优先C	2.4438	98.0805	97.8093	0.2712	12.9397	100.0000		Based on the data of underlying assets
2021-01-25	02000111	冀租稳健2019年第一期汽车租赁优先级	0.0712	34.7858	34.7527	0.0331	5.8241	34.7500	Recommend	Based on the data of underlying assets
2021-01-25	02000111	冀租稳健2019年第一期汽车租赁优先级	3.8219	34.7858	34.7527	0.0331	5.8241	34.7500		Based on the data of underlying assets
2021-01-25	02000134	润泰小微12号优先A	0.1644	90.0589	89.8801	0.1788	3.4671	90.0100	Recommend	Based on the data of underlying assets
2021-01-25	02000134	润泰小微12号优先A	2.4164	90.0589	89.8801	0.1788	3.4671	90.0100		Based on the data of underlying assets
2021-01-25	02000159	华融·中关村银行消费信贷财产权信托优先A2	1.0110	102.3588	101.1775	1.1814	3.7596	100.0000	Recommend	Based on the data of underlying assets
2021-01-25	02000159	华融·中关村银行消费信贷财产权信托优先A2	3.7671	102.3588	101.1775	1.1814	3.7596	100.0000		Based on the data of underlying assets
2021-01-25	02000351	2020年中原财富-小微16号优先B	0.4986	100.2418	99.9426	0.2992	4.0746	100.0000	Recommend	Based on the data of underlying assets
2021-01-25	02000351	2020年中原财富-小微16号优先B	3.9205	100.2418	99.9426	0.2992	4.0746	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
2021-01-25	02000164	湘信-泰隆小微13号优先C	浙江泰隆商业银行股份有限公司	3.3000	BBB	0.2493	Based on Expected Maturity Date	98.0805	97.8093	0.2712	12.9397	100.0000	Recommend	Based on the data of underlying assets
2021-01-25	02000164	湘信-泰隆小微13号优先C	浙江泰隆商业银行股份有限公司	3.3000	BBB	2.4438	Based on Final Maturity Date	98.0805	97.8093	0.2712	12.9397	100.0000		Based on the data of underlying assets
2021-01-25	02000111	冀租稳健2019年第一期汽车租赁优先级	河北省金融租赁有限公司	5.8000	AAA	0.0712	Based on Expected Maturity Date	34.7858	34.7527	0.0331	5.8241	34.7500	Recommend	Based on the data of underlying assets
2021-01-25	02000111	冀租稳健2019年第一期汽车租赁优先级	河北省金融租赁有限公司	5.8000	AAA	3.8219	Based on Final Maturity Date	34.7858	34.7527	0.0331	5.8241	34.7500		Based on the data of underlying assets
2021-01-25	02000134	润泰小微12号优先A	浙江泰隆商业银行股份有限公司	2.5000	AAA	0.1644	Based on Expected Maturity Date	90.0589	89.8801	0.1788	3.4671	90.0100	Recommend	Based on the data of underlying assets
2021-01-25	02000134	润泰小微12号优先A	浙江泰隆商业银行股份有限公司	2.5000	AAA	2.4164	Based on Final Maturity Date	90.0589	89.8801	0.1788	3.4671	90.0100		Based on the data of underlying assets
2021-01-25	02000159	华融·中关村银行消费信贷财产权信托优先A2	北京中关村银行股份有限公司	4.9000	AAA	1.0110	Based on Expected Maturity Date	102.3588	101.1775	1.1814	3.7596	100.0000	Recommend	Based on the data of underlying assets
2021-01-25	02000159	华融·中关村银行消费信贷财产权信托优先A2	北京中关村银行股份有限公司	4.9000	AAA	3.7671	Based on Final Maturity Date	102.3588	101.1775	1.1814	3.7596	100.0000		Based on the data of underlying assets
2021-01-25	02000351	2020年中原财富-小微16号优先B	浙江泰隆商业银行股份有限公司	3.9000	AA+	0.4986	Based on Expected Maturity Date	100.2418	99.9426	0.2992	4.0746	100.0000	Recommend	Based on the data of underlying assets
2021-01-25	02000351	2020年中原财富-小微16号优先B	浙江泰隆商业银行股份有限公司	3.9000	AA+	3.9205	Based on Final Maturity Date	100.2418	99.9426	0.2992	4.0746	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
2021-01-25	10919000067	1.0164	101.8678	0.6312	101.2366	5.2436	Recommend
2021-01-25	10919000067	5.0192	102.1255	0.6312	101.4943	6.1875
2021-01-25	10919000176	1.3370	101.5150	0.6627	100.8523	5.3388	Recommend
2021-01-25	10919000176	5.3397	99.7644	0.6627	99.1016	6.2357
2021-01-25	10919000242	1.4932	99.5110	0.6666	98.8444	6.4999	Recommend
2021-01-25	10919000242	3.4959	96.5577	0.6666	95.8911	7.0359
2021-01-25	10913000090	2.9863	61.4518	0.3682	61.0836	5.5344	Recommend
2021-01-25	10914000100	2.7808	104.5840	0.7288	103.8553	5.5178	Recommend
2021-01-25	10918000011	7.0055	108.7090	0.5918	108.1172	4.7133	Recommend
2021-01-25	10919000052	1.0000	100.6435	0.4890	100.1545	5.1885	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
2021-01-25	10919000067	1.0164	101.8678	0.6312	101.2366	5.2436	101.8853	0.6488	Recommend
2021-01-25	10919000067	5.0192	102.1255	0.6312	101.4943	6.1875	102.1431	0.6488
2021-01-25	10919000176	1.3370	101.5150	0.6627	100.8523	5.3388	101.5312	0.6789	Recommend
2021-01-25	10919000176	5.3397	99.7644	0.6627	99.1016	6.2357	99.7805	0.6789
2021-01-25	10919000242	1.4932	99.5110	0.6666	98.8444	6.4999	99.5261	0.6818	Recommend
2021-01-25	10919000242	3.4959	96.5577	0.6666	95.8911	7.0359	96.5729	0.6818
2021-01-25	10913000090	2.9863	61.4518	0.3682	61.0836	5.5344	61.4623	0.3787	Recommend
2021-01-25	10914000100	2.7808	104.5840	0.7288	103.8553	5.5178	104.6049	0.7496	Recommend
2021-01-25	10918000011	7.0055	108.7090	0.5918	108.1172	4.7133	108.7254	0.6082	Recommend
2021-01-25	10919000052	1.0000	100.6435	0.4890	100.1545	5.1885	100.6579	0.5034	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.

Legislation

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