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
2026-01-20	03三峡债	038006	Shanghai Stock Exchange	7.5288	120.2847	2.2902	117.9945	2.2347	AAA
2026-01-20	16东方财信PPN001	031664011	China Inter-Bank Market	0.0219	104.8524	4.7926	100.0598	2.0714	AA(2)
2026-01-20	01国开21	010221	China Inter-Bank Market	5.9781	115.2594	0.0999	115.1595	1.8311
2026-01-20	25大足工业CP001	042500091	China Inter-Bank Market	0.0849	102.3668	2.3334	100.0333	1.8668	AA-
2026-01-20	06冀建投债	068012	China Inter-Bank Market	0.1836	103.8611	3.4127	100.4484	1.6241	AAA
2026-01-20	25工商银行CD017	112502017	China Inter-Bank Market	0.0027	99.9961	1.6670	98.3290	1.4364	AAA
2026-01-20	17招路02	112563	Shenzhen Stock Exchange	1.5452	107.1293	2.2649	104.8644	1.7545	AAA-
2026-01-20	02国债05	020005	China Inter-Bank Market	6.3397	107.8152	0.4566	107.3585	1.6721
2026-01-20	13青国投MTN001	101354012	China Inter-Bank Market	2.5644	111.5391	2.7792	108.7598	2.7845	AA-
2026-01-20	23浙江01	101900	China Inter-Bank Market	4.0658	108.0102	2.7747	105.2355	1.6284	AAA+

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
2026-01-20	03三峡债	038006	Central enterprise bond	Shanghai Stock Exchange	7.5288	120.2847	2.2902	117.9945	2.2347	6.32	50.18	0.0760	recommend	120.2980	2.3035	100.0000	AAA	CND0000004T5
2026-01-20	16东方财信PPN001	031664011	Private placement instruments (PPN)	China Inter-Bank Market	0.0219	104.8524	4.7926	100.0598	2.0714	0.02	0.00	0.0002	recommend	104.8658	4.8060	100.0000	AA(2)	CND100018KS0
2026-01-20	01国开21	010221	Senior bond of policy bank	China Inter-Bank Market	5.9781	115.2594	0.0999	115.1595	1.8311	5.31	32.77	0.0612	recommend	115.2719	0.1124	100.0000		CND0000002K8
2026-01-20	25大足工业CP001	042500091	Short-term commercial paper (CP)	China Inter-Bank Market	0.0849	102.3668	2.3334	100.0333	1.8668	0.10	0.02	0.0010	recommend	102.3737	2.3404	100.0000	AA-	CND10008Z290
2026-01-20	06冀建投债	068012	Local enterprise bond	China Inter-Bank Market	0.1836	103.8611	3.4127	100.4484	1.6241	0.19	0.07	0.0020	recommend	103.8726	3.4242	100.0000	AAA	CND000000KN0
2026-01-20	25工商银行CD017	112502017	Inter-bank negotiable certificates of deposit	China Inter-Bank Market	0.0027	99.9961	1.6670	98.3290	1.4364	0.00	0.00	0.0000	recommend	100.0006	1.6716	98.3284	AAA	CND10008YCZ5
2026-01-20	17招路02	112563	Public offering corporate bond	Shenzhen Stock Exchange	1.5452	107.1293	2.2649	104.8644	1.7545	1.47	3.66	0.0158	recommend	107.1429	2.2785	100.0000	AAA-
2026-01-20	02国债05	020005	Book-entry T-bond	China Inter-Bank Market	6.3397	107.8152	0.4566	107.3585	1.6721	5.79	38.21	0.0624	recommend	107.8232	0.4646	100.0000		CND0000002T9
2026-01-20	13青国投MTN001	101354012	Medium-term note (MTN)	China Inter-Bank Market	2.5644	111.5391	2.7792	108.7598	2.7845	2.33	7.95	0.0260	recommend	111.5566	2.7967	100.0000	AA-	CND100011881
2026-01-20	23浙江01	101900	Local government bond	China Inter-Bank Market	4.0658	108.0102	2.7747	105.2355	1.6284	3.73	18.34	0.0403	recommend	108.0184	2.7828	100.0000	AAA+	CND100063JB4

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
2026-01-20	10914000146	3.7397	113.3170	0.3325	112.9845	2.6847	Recommend
2026-01-20	10914000188	0.4904	34.2464	0.2253	34.0212	2.7727	Recommend
2026-01-20	10914000199		104.2292	2.5866	101.6425	2.6558	Recommend
2026-01-20	10914010188	0.4959	34.2591	0.2317	34.0274	2.7727	Recommend
2026-01-20	10914020188	0.4959	34.2591	0.2317	34.0274	2.7727	Recommend
2026-01-20	10914030188	0.4959	34.2591	0.2317	34.0274	2.7727	Recommend
2026-01-20	10914040188	0.4959	34.2591	0.2317	34.0274	2.7727	Recommend
2026-01-20	10914050188	0.4959	34.2591	0.2317	34.0274	2.7727	Recommend
2026-01-20	10914060188	0.4959	34.2591	0.2317	34.0274	2.7727	Recommend
2026-01-20	10915000010	4.9288	113.1552	0.3753	112.7799	2.7292	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
2026-01-20	10914000146	3.7397	113.3170	0.3325	112.9845	2.6847	113.3345	0.3500	Recommend
2026-01-20	10914000188	0.4904	34.2464	0.2253	34.0212	2.7727	34.2529	0.2317	Recommend
2026-01-20	10914000199		104.2292	2.5866	101.6425	2.6558	104.2420	2.5995	Recommend
2026-01-20	10914010188	0.4959	34.2591	0.2317	34.0274	2.7727	34.2656	0.2381	Recommend
2026-01-20	10914020188	0.4959	34.2591	0.2317	34.0274	2.7727	34.2656	0.2381	Recommend
2026-01-20	10914030188	0.4959	34.2591	0.2317	34.0274	2.7727	34.2656	0.2381	Recommend
2026-01-20	10914040188	0.4959	34.2591	0.2317	34.0274	2.7727	34.2656	0.2381	Recommend
2026-01-20	10914050188	0.4959	34.2591	0.2317	34.0274	2.7727	34.2656	0.2381	Recommend
2026-01-20	10914060188	0.4959	34.2591	0.2317	34.0274	2.7727	34.2656	0.2381	Recommend
2026-01-20	10915000010	4.9288	113.1552	0.3753	112.7799	2.7292	113.1702	0.3904	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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