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
2026-07-20	03三峡债	038006	China Inter-Bank Market	7.0329	123.8567	4.7002	119.1565	1.9217	AAA
2026-07-20	01国开21	010221	Commercial Bank Counter Market	5.4822	115.4157	0.0983	115.3174	1.5893
2026-07-20	25工商银行CD226	112502226	China Inter-Bank Market	0.0027	99.9962	1.5802	98.4160	1.3850	AAA
2026-07-20	17招路02	112563	Shenzhen Stock Exchange	1.0493	108.2887	4.7344	103.5543	1.5377	AAA-
2026-07-20	02国债05	020005	China Inter-Bank Market	5.8438	108.6119	0.4492	108.1627	1.4387
2026-07-20	07豫投债2	078012	China Inter-Bank Market	0.8247	103.3173	0.8101	102.5073	1.5289	AAA
2026-07-20	25珞璜开发CP001	042500104	China Inter-Bank Market	0.0110	101.9824	1.9781	100.0044	1.5706	AA(2)
2026-07-20	13青国投MTN001	101354012	China Inter-Bank Market	2.0685	113.9747	5.9430	108.0317	2.3539	AA-
2026-07-20	23浙江01	101900	Shanghai Stock Exchange	3.5699	106.7761	1.2775	105.4985	1.3795	AAA+
2026-07-20	16沂南城建PPN001	031695001	China Inter-Bank Market	0.4274	25.7461	0.5368	25.2093	1.7397	AA

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)	ChinaBond Market Implied Rating	ISIN
2026-07-20	03三峡债	038006	Central enterprise bond	China Inter-Bank Market	7.0329	123.8567	4.7002	119.1565	1.9217	5.86	44.19	0.0726	recommend	123.8700	4.7135	100.0000	AAA	CND0000004T5
2026-07-20	01国开21	010221	Senior bond of policy bank	Commercial Bank Counter Market	5.4822	115.4157	0.0983	115.3174	1.5893	4.92	28.16	0.0568	recommend	115.4280	0.1105	100.0000		CND0000002K8
2026-07-20	25工商银行CD226	112502226	Inter-bank negotiable certificates of deposit	China Inter-Bank Market	0.0027	99.9962	1.5802	98.4160	1.3850	0.00	0.00	0.0000	recommend	100.0005	1.5845	98.4155	AAA	CND10009K0B3
2026-07-20	17招路02	112563	Public offering corporate bond	Shenzhen Stock Exchange	1.0493	108.2887	4.7344	103.5543	1.5377	0.99	1.99	0.0107	recommend	108.3023	4.7481	100.0000	AAA-
2026-07-20	02国债05	020005	Book-entry T-bond	China Inter-Bank Market	5.8438	108.6119	0.4492	108.1627	1.4387	5.38	33.04	0.0584	recommend	108.6198	0.4571	100.0000		CND0000002T9
2026-07-20	07豫投债2	078012	Local enterprise bond	China Inter-Bank Market	0.8247	103.3173	0.8101	102.5073	1.5289	0.81	1.33	0.0084	recommend	103.3300	0.8227	100.0000	AAA	CND100000JJ9
2026-07-20	25珞璜开发CP001	042500104	Short-term commercial paper (CP)	China Inter-Bank Market	0.0110	101.9824	1.9781	100.0044	1.5706	0.01	0.00	0.0001	recommend	101.9879	1.9836	100.0000	AA(2)	CND10009KBH2
2026-07-20	13青国投MTN001	101354012	Medium-term note (MTN)	China Inter-Bank Market	2.0685	113.9747	5.9430	108.0317	2.3539	1.86	5.51	0.0212	recommend	113.9922	5.9605	100.0000	AA-	CND100011881
2026-07-20	23浙江01	101900	Local government bond	Shanghai Stock Exchange	3.5699	106.7761	1.2775	105.4985	1.3795	3.36	14.95	0.0359	recommend	106.7842	1.2856	100.0000	AAA+	CND100063JB4
2026-07-20	16沂南城建PPN001	031695001	Private placement instruments (PPN)	China Inter-Bank Market	0.4274	25.7461	0.5368	25.2093	1.7397	0.42	0.36	0.0011	recommend	25.7486	0.5394	25.0000	AA	CND100013TG7

Insurance Asset Management Products Valuation

for more indices

Date	Code	Maturity(Yrs)	Full Price(Mid-Day)(Yuan)	Accrued Interest(Mid-Day)(Yuan)	Net Price(Yuan)	YTM (%)	Recommendation
2026-07-20	10914000146	3.2438	111.9298	0.3325	111.5973	2.6075	Recommend
2026-07-20	10914000199		102.5849	0.2188	102.3661	2.4046	Recommend
2026-07-20	10915000010	4.4329	112.0804	0.3603	111.7201	2.6945	Recommend
2026-07-20	10915000010	9.4329	126.7829	0.3603	126.4225	2.5032
2026-07-20	10915000020	3.6548	113.8674	0.4511	113.4163	2.6449	Recommend
2026-07-20	10916000014	0.2904	101.7208	1.0694	100.6513	2.7978	Recommend
2026-07-20	10916000015	0.3123	44.0483	0.4152	43.6331	2.7997	Recommend
2026-07-20	10916000016	0.4274	101.2624	0.3512	100.9112	2.8049	Recommend
2026-07-20	10916000016	5.4274	116.6575	0.3512	116.3064	2.2128
2026-07-20	10916000017	0.4274	101.2624	0.3512	100.9112	2.8049	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
2026-07-20	10914000146	3.2438	111.9298	0.3325	111.5973	2.6075	111.9473	0.3500	Recommend
2026-07-20	10914000199		102.5849	0.2188	102.3661	2.4046	102.5978	0.2316	Recommend
2026-07-20	10915000010	4.4329	112.0804	0.3603	111.7201	2.6945	112.0954	0.3753	Recommend
2026-07-20	10915000010	9.4329	126.7829	0.3603	126.4225	2.5032	126.7979	0.3753
2026-07-20	10915000020	3.6548	113.8674	0.4511	113.4163	2.6449	113.8829	0.4667	Recommend
2026-07-20	10916000014	0.2904	101.7208	1.0694	100.6513	2.7978	101.7347	1.0833	Recommend
2026-07-20	10916000015	0.3123	44.0483	0.4152	43.6331	2.7997	44.0544	0.4213	Recommend
2026-07-20	10916000016	0.4274	101.2624	0.3512	100.9112	2.8049	101.2759	0.3647	Recommend
2026-07-20	10916000016	5.4274	116.6575	0.3512	116.3064	2.2128	116.6710	0.3647
2026-07-20	10916000017	0.4274	101.2624	0.3512	100.9112	2.8049	101.2759	0.3647	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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