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
2025-07-18	03三峡债	038006	Shanghai Stock Exchange	8.0384	125.8989	4.6736	121.2253	1.9778	AAA
2025-07-18	01国开21	010221	China Inter-Bank Market	6.4877	117.1532	0.0737	117.0795	1.7244
2025-07-18	16东方财信PPN001	031664011	China Inter-Bank Market	0.5315	103.7661	2.2956	101.4705	2.0560	AA(2)
2025-07-18	06冀建投债	068012	Commercial Bank Counter Market	0.6932	103.0319	1.2826	101.7493	1.5950	AAA
2025-07-18	24冀中能源CP001(科创票据)	042400073	China Inter-Bank Market	0.1151	102.1654	2.0973	100.0682	1.7400	AA
2025-07-18	17招路02	112563	Shenzhen Stock Exchange	2.0548	111.3075	4.7071	106.6004	1.6839	AAA-
2025-07-18	02国债05	020005	China Inter-Bank Market	6.8493	108.3233	0.4334	107.8899	1.6759
2025-07-18	24工商银行CD076	112402076	China Inter-Bank Market	0.0110	99.9839	1.9108	98.0731	1.4654	AAA
2025-07-18	13青国投MTN001	101354012	China Inter-Bank Market	3.0740	114.9017	5.9081	108.9936	3.2557	AA-
2025-07-18	23浙江01	101900	Commercial Bank Counter Market	4.5753	107.2362	1.2612	105.9749	1.6038	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
2025-07-18	03三峡债	038006	Central enterprise bond	Shanghai Stock Exchange	8.0384	125.8989	4.6736	121.2253	1.9778	6.58	55.39	0.0828	recommend	125.9122	4.6869	100.0000	AAA	CND0000004T5
2025-07-18	01国开21	010221	Senior bond of policy bank	China Inter-Bank Market	6.4877	117.1532	0.0737	117.0795	1.7244	5.71	37.92	0.0669	recommend	117.1655	0.0860	100.0000		CND0000002K8
2025-07-18	16东方财信PPN001	031664011	Private placement instruments (PPN)	China Inter-Bank Market	0.5315	103.7661	2.2956	101.4705	2.0560	0.53	0.55	0.0055	recommend	103.7795	2.3090	100.0000	AA(2)	CND100018KS0
2025-07-18	06冀建投债	068012	Local enterprise bond	Commercial Bank Counter Market	0.6932	103.0319	1.2826	101.7493	1.5950	0.69	0.95	0.0071	recommend	103.0434	1.2941	100.0000	AAA	CND000000KN0
2025-07-18	24冀中能源CP001(科创票据)	042400073	Short-term commercial paper (CP)	China Inter-Bank Market	0.1151	102.1654	2.0973	100.0682	1.7400	0.11	0.03	0.0012	recommend	102.1719	2.1038	100.0000	AA	CND10008CMD7
2025-07-18	17招路02	112563	Public offering corporate bond	Shenzhen Stock Exchange	2.0548	111.3075	4.7071	106.6004	1.6839	1.89	5.63	0.0210	recommend	111.3211	4.7208	100.0000	AAA-
2025-07-18	02国债05	020005	Book-entry T-bond	China Inter-Bank Market	6.8493	108.3233	0.4334	107.8899	1.6759	6.21	43.96	0.0673	recommend	108.3312	0.4413	100.0000		CND0000002T9
2025-07-18	24工商银行CD076	112402076	Inter-bank negotiable certificates of deposit	China Inter-Bank Market	0.0110	99.9839	1.9108	98.0731	1.4654	0.01	0.00	0.0001	recommend	99.9892	1.9161	100.0000	AAA	CND100086P91
2025-07-18	13青国投MTN001	101354012	Medium-term note (MTN)	China Inter-Bank Market	3.0740	114.9017	5.9081	108.9936	3.2557	2.66	10.28	0.0306	recommend	114.9191	5.9255	100.0000	AA-	CND100011881
2025-07-18	23浙江01	101900	Local government bond	Commercial Bank Counter Market	4.5753	107.2362	1.2612	105.9749	1.6038	4.24	22.84	0.0454	recommend	107.2443	1.2694	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
2025-07-18	10914000146	4.2493	114.1582	0.2975	113.8607	2.8658	Recommend
2025-07-18	10914000188	1.0000	37.4277	2.7544	34.6733	2.8455	Recommend
2025-07-18	10914000199		136.4391	0.3000	136.1391	2.7054	Recommend
2025-07-18	10914010188	1.0000	36.0794	1.3774	34.7020	2.8455	Recommend
2025-07-18	10914020188	1.0575	70.9464	2.7544	68.1920	2.8439	Recommend
2025-07-18	10914030188	1.0685	70.9758	2.7544	68.2214	2.8437	Recommend
2025-07-18	10914040188	1.4137	71.8769	2.7544	69.1225	2.8482	Recommend
2025-07-18	10914050188	1.4521	71.9799	2.7544	69.2255	2.8505	Recommend
2025-07-18	10914060188	2.6761	110.6873	4.1314	106.5560	2.9208	Recommend
2025-07-18	10915000007	0.2384	101.2117	0.4500	100.7617	2.8547	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
2025-07-18	10914000146	4.2493	114.1582	0.2975	113.8607	2.8658	114.1757	0.3150	Recommend
2025-07-18	10914000188	1.0000	37.4277	2.7544	34.6733	2.8455	37.4341	2.7608	Recommend
2025-07-18	10914000199		136.4391	0.3000	136.1391	2.7054	136.4591	0.3200	Recommend
2025-07-18	10914010188	1.0000	36.0794	1.3774	34.7020	2.8455	36.0987	1.3967	Recommend
2025-07-18	10914020188	1.0575	70.9464	2.7544	68.1920	2.8439	70.9593	2.7673	Recommend
2025-07-18	10914030188	1.0685	70.9758	2.7544	68.2214	2.8437	70.9886	2.7673	Recommend
2025-07-18	10914040188	1.4137	71.8769	2.7544	69.1225	2.8482	71.8898	2.7673	Recommend
2025-07-18	10914050188	1.4521	71.9799	2.7544	69.2255	2.8505	71.9927	2.7673	Recommend
2025-07-18	10914060188	2.6761	110.6873	4.1314	106.5560	2.9208	110.7066	4.1507	Recommend
2025-07-18	10915000007	0.2384	101.2117	0.4500	100.7617	2.8547	101.2284	0.4667	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

Any Institution or Individual who intends to use ChinaBond Pricing Data Products to develop products, or use index data as benchmark, as well as to develop the passive investment products, ETF products and derivatives, shall apply to ChinaBond Pricing Center Co., Ltd. separately in writing.Contact information: 010-88170470/0475/dataservice@chinabond.com.cn

Instructions

1.Bond Valuation: 86-10-010-88174538/4537/0640 Quality Control: 86-21-60813561,86-21-60813562,86-10-88174536,86-10-88174551,86-10-881747122.For more details please visit ChinaBond Dr.Quant, ChinaBond datagate and authorized data vendors. 3.Internet Explorer 11 or Google Chrome is recommended.