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
2020-10-30	17合川农业PPN003	031761034	China Inter-Bank Market	1.8521	100.7532	0.9720	99.7812	6.6838	AA(2)
2020-10-30	20南充投资CP001	042000278	China Inter-Bank Market	0.6274	100.9629	1.2296	99.7333	3.6896	AA(2)
2020-10-30	19南方水泥MTN003	101901102	China Inter-Bank Market	1.8055	100.6516	0.6867	99.9649	3.5448	AA＋
2020-10-30	20平安银行CD077	112011077	China Inter-Bank Market	0.4027	98.7510	1.2571	97.4940	3.0974	AAA-
2020-10-30	18首业02	150279	Shanghai Stock Exchange	2.4411	104.1640	3.2640	100.9000	4.0304	AA＋
2020-10-30	15国网债01	1580093	Shanghai Stock Exchange	1.4411	104.9584	2.7386	102.2198	3.2837	AAA＋
2020-10-30	16青海定向14	1606337	China Inter-Bank Market	0.9671	99.7656	0.0953	99.6702	3.2486	AAA
2020-10-30	17附息国债18	170018	China Inter-Bank Market	6.7584	103.7072	0.8585	102.8487	3.1196
2020-10-30	20进出671	2003671	China Inter-Bank Market	0.0959	99.7811	0.3440	99.4371	2.2876
2020-10-30	20蓉高债01	2080324	China Inter-Bank Market	4.9918	100.0004	0.0310	99.9694	4.1098	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)	Absolute Liquidity Index	Position Percentile	Relative Liquidity Index	Relative Liquidity Reference Value	ChinaBond Market Implied Rating	ISIN
2020-10-30	17合川农业PPN003	031761034	PPNs	China Inter-Bank Market	1.8521	100.7532	0.9720	99.7812	6.6838	1.68	4.44	0.0169	recommend	100.7712	0.9900	100.0000	0.00	12.02	0.00	0.10	AA(2)	CND100014Q30
2020-10-30	20南充投资CP001	042000278	Commercial Papers	China Inter-Bank Market	0.6274	100.9629	1.2296	99.7333	3.6896	0.61	0.75	0.0062	recommend	100.9719	1.2386	100.0000	0.00	12.02	0.00	0.10	AA(2)	CND10003CGT6
2020-10-30	19南方水泥MTN003	101901102	Medium-Term Notes	China Inter-Bank Market	1.8055	100.6516	0.6867	99.9649	3.5448	1.71	4.61	0.0172	recommend	100.6612	0.6963	100.0000	0.00	12.02	0.00	0.10	AA＋	CND10002FMG6
2020-10-30	20平安银行CD077	112011077	Negotiable Certificates of Deposit	China Inter-Bank Market	0.4027	98.7510	1.2571	97.4940	3.0974	0.40	0.33	0.0040	recommend	98.7568	1.2628	97.8953	0.00	0.00	0.00	1.00	AAA-	CND100033JG6
2020-10-30	18首业02	150279	Corporate Bonds	Shanghai Stock Exchange	2.4411	104.1640	3.2640	100.9000	4.0304	0.43	0.38	0.0045	recommend	104.1800	3.2800	100.0000	0.00	4.68	0.00	0.10	AA＋
2020-10-30	15国网债01	1580093	Central Government Owned Enterprise Bonds	Shanghai Stock Exchange	1.4411	104.9584	2.7386	102.2198	3.2837	1.35	3.17	0.0142	recommend	104.9718	2.7521	100.0000	0.00	4.68	0.00	0.10	AAA＋	CND100008465
2020-10-30	16青海定向14	1606337	Local Government Bonds	China Inter-Bank Market	0.9671	99.7656	0.0953	99.6702	3.2486	0.94	1.76	0.0094	recommend	99.7735	0.1033	100.0000	0.00	12.02	0.00	0.10	AAA	CND10000C1G9
2020-10-30	17附息国债18	170018	Book-Entry Treasury Bonds	China Inter-Bank Market	6.7584	103.7072	0.8585	102.8487	3.1196	5.93	40.84	0.0615	recommend	103.7170	0.8682	100.0000	0.28	0.00	27.18	1.00		CND10000HWX0
2020-10-30	20进出671	2003671	Policy Bank Bonds	China Inter-Bank Market	0.0959	99.7811	0.3440	99.4371	2.2876	0.10	0.02	0.0010	recommend	99.7873	0.3501	99.4410	0.06	9.54	4.38	1.00		CND10003NG84
2020-10-30	20蓉高债01	2080324	Local Government Owned Enterprise Bonds	China Inter-Bank Market	4.9918	100.0004	0.0310	99.9694	4.1098	2.78	10.56	0.0278	recommend	100.0107	0.0413	100.0000	0.79	5.23	34.91	1.00	AA＋	CND10003S353

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
2020-10-30	01900259	杭瑞2019年第一期优先A2档	0.8603	44.5888	44.4842	0.1046	4.0354	44.0538	Recommend	Based on the data of underlying assets
2020-10-30	01900259	杭瑞2019年第一期优先A2档	3.3589	44.5888	44.4842	0.1046	4.0354	44.0538		Based on the data of underlying assets
2020-10-30	02000055	辽宁振兴银行2019年第一期优先A	0.4575	34.2461	34.1761	0.0700	3.7121	34.0679	Recommend	Based on the data of underlying assets
2020-10-30	02000055	辽宁振兴银行2019年第一期优先A	3.9671	34.2461	34.1761	0.0700	3.7121	34.0679		Based on the data of underlying assets
2020-10-30	02000302	2020年中原财富-小微15号优先B	0.7096	100.1448	99.7414	0.4035	4.4217	100.0000	Recommend	Based on the data of underlying assets
2020-10-30	02000302	2020年中原财富-小微15号优先B	2.9068	100.1448	99.7414	0.4035	4.4217	100.0000		Based on the data of underlying assets
2020-10-30	02000015	冀租稳健2019年第一期优先A1级	0.1397	102.2191	100.2662	1.9529	3.4694	100.0000	Recommend	Based on the data of underlying assets
2020-10-30	02000015	冀租稳健2019年第一期优先A1级	5.6411	102.2191	100.2662	1.9529	3.4694	100.0000		Based on the data of underlying assets
2020-10-30	02000004	中海-泰隆小微10号优先A	0.0740	92.4685	91.8727	0.5958	3.3852	91.8400	Recommend	Based on the data of underlying assets
2020-10-30	02000004	中海-泰隆小微10号优先A	2.2411	92.4685	91.8727	0.5958	3.3852	91.8400		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
2020-10-30	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	0.8603	Based on Expected Maturity Date	44.5888	44.4842	0.1046	4.0354	44.0538	Recommend	Based on the data of underlying assets
2020-10-30	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	3.3589	Based on Final Maturity Date	44.5888	44.4842	0.1046	4.0354	44.0538		Based on the data of underlying assets
2020-10-30	02000055	辽宁振兴银行2019年第一期优先A	辽宁振兴银行股份有限公司	5.0000	AAA	0.4575	Based on Expected Maturity Date	34.2461	34.1761	0.0700	3.7121	34.0679	Recommend	Based on the data of underlying assets
2020-10-30	02000055	辽宁振兴银行2019年第一期优先A	辽宁振兴银行股份有限公司	5.0000	AAA	3.9671	Based on Final Maturity Date	34.2461	34.1761	0.0700	3.7121	34.0679		Based on the data of underlying assets
2020-10-30	02000302	2020年中原财富-小微15号优先B	浙江泰隆商业银行股份有限公司	3.9800	AA+	0.7096	Based on Expected Maturity Date	100.1448	99.7414	0.4035	4.4217	100.0000	Recommend	Based on the data of underlying assets
2020-10-30	02000302	2020年中原财富-小微15号优先B	浙江泰隆商业银行股份有限公司	3.9800	AA+	2.9068	Based on Final Maturity Date	100.1448	99.7414	0.4035	4.4217	100.0000		Based on the data of underlying assets
2020-10-30	02000015	冀租稳健2019年第一期优先A1级	河北省金融租赁有限公司	5.4000	AAA	0.1397	Based on Expected Maturity Date	102.2191	100.2662	1.9529	3.4694	100.0000	Recommend	Based on the data of underlying assets
2020-10-30	02000015	冀租稳健2019年第一期优先A1级	河北省金融租赁有限公司	5.4000	AAA	5.6411	Based on Final Maturity Date	102.2191	100.2662	1.9529	3.4694	100.0000		Based on the data of underlying assets
2020-10-30	02000004	中海-泰隆小微10号优先A	浙江泰隆商业银行股份有限公司	3.7000	AAA	0.0740	Based on Expected Maturity Date	92.4685	91.8727	0.5958	3.3852	91.8400	Recommend	Based on the data of underlying assets
2020-10-30	02000004	中海-泰隆小微10号优先A	浙江泰隆商业银行股份有限公司	3.7000	AAA	2.2411	Based on Final Maturity Date	92.4685	91.8727	0.5958	3.3852	91.8400		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
2020-10-30	10918000462	3.2356	102.0413	0.1068	101.9345	5.8884	Recommend
2020-10-30	10918000462	8.2411	101.1634	0.1068	101.0566	6.4891
2020-10-30	10912000028	2.1644	100.1115	0.4944	99.6171	6.5680	Recommend
2020-10-30	10913000090	3.2247	82.1141	0.5471	81.5671	5.2815	Recommend
2020-10-30	10915000162	4.4630	101.7706	0.5323	101.2382	6.5287	Recommend
2020-10-30	10916000166	4.1315	101.1591	0.6789	100.4802	5.6114	Recommend
2020-10-30	10916000176	5.6082	100.2361	0.5503	99.6859	5.3266	Recommend
2020-10-30	10917000040	2.9068	99.3366	0.6740	98.6626	6.8241	Recommend
2020-10-30	10918000367	1.9863	100.0646	0.9616	99.1030	8.5556	Recommend
2020-10-30	10920000087	2.4521	98.8881	0.6247	98.2634	6.6296	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
2020-10-30	10918000462	3.2356	102.0413	0.1068	101.9345	5.8884	102.0591	0.1246	Recommend
2020-10-30	10918000462	8.2411	101.1634	0.1068	101.0566	6.4891	101.1812	0.1246
2020-10-30	10912000028	2.1644	100.1115	0.4944	99.6171	6.5680	100.1285	0.5114	Recommend
2020-10-30	10913000090	3.2247	82.1141	0.5471	81.5671	5.2815	82.1282	0.5611	Recommend
2020-10-30	10915000162	4.4630	101.7706	0.5323	101.2382	6.5287	101.7889	0.5507	Recommend
2020-10-30	10916000166	4.1315	101.1591	0.6789	100.4802	5.6114	101.1745	0.6944	Recommend
2020-10-30	10916000176	5.6082	100.2361	0.5503	99.6859	5.3266	100.2502	0.5644	Recommend
2020-10-30	10917000040	2.9068	99.3366	0.6740	98.6626	6.8241	99.3535	0.6908	Recommend
2020-10-30	10918000367	1.9863	100.0646	0.9616	99.1030	8.5556	100.0860	0.9830	Recommend
2020-10-30	10920000087	2.4521	98.8881	0.6247	98.2634	6.6296	98.9037	0.6403	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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