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
2025-11-18	03三峡债	038006	China Inter-Bank Market	7.7014	120.6033	1.4513	119.1519	2.1352	AAA
2025-11-18	16东方财信PPN001	031664011	China Inter-Bank Market	0.1945	104.4935	3.9468	100.5466	2.0001	AA(2)
2025-11-18	01国开21	010221	Commercial Bank Counter Market	6.1507	117.1603	1.5845	115.5758	1.8300
2025-11-18	06冀建投债	068012	Commercial Bank Counter Market	0.3562	103.5711	2.6912	100.8799	1.6257	AAA
2025-11-18	17招路02	112563	Shenzhen Stock Exchange	1.7178	106.7525	1.4053	105.3472	1.7862	AAA-
2025-11-18	02国债05	020005	China Inter-Bank Market	6.5123	109.2237	1.4027	107.8210	1.6300
2025-11-18	24工商银行CD152	112402152	China Inter-Bank Market	0.0466	99.9307	1.5937	98.3369	1.4900	AAA
2025-11-18	24新余城建CP001	042400087	China Inter-Bank Market	0.0877	101.9367	1.9068	100.0299	1.6144	AA(2)
2025-11-18	13青国投MTN001	101354012	China Inter-Bank Market	2.7370	110.9663	1.6780	109.2883	2.8008	AA-
2025-11-18	23浙江01	101900	Shenzhen Stock Exchange	4.2384	107.6258	2.2621	105.3637	1.6483	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	YTM on Weighted Average Full Price of Settlement (%)	Recommendation	Full Price (End Day)(Yuan)	Accrued Interest (End Day) (Yuan)	Residual Principal(Yuan)	ChinaBond Market Implied Rating	ISIN
2025-11-18	03三峡债	038006	Central enterprise bond	China Inter-Bank Market	7.7014	120.6033	1.4513	119.1519	2.1352	6.50	52.65	0.0783		recommend	120.6166	1.4647	100.0000	AAA	CND0000004T5
2025-11-18	16东方财信PPN001	031664011	Private placement instruments (PPN)	China Inter-Bank Market	0.1945	104.4935	3.9468	100.5466	2.0001	0.19	0.08	0.0020		recommend	104.5069	3.9603	100.0000	AA(2)	CND100018KS0
2025-11-18	01国开21	010221	Senior bond of policy bank	Commercial Bank Counter Market	6.1507	117.1603	1.5845	115.5758	1.8300	5.37	34.03	0.0630		recommend	117.1726	1.5967	100.0000		CND0000002K8
2025-11-18	06冀建投债	068012	Local enterprise bond	Commercial Bank Counter Market	0.3562	103.5711	2.6912	100.8799	1.6257	0.36	0.26	0.0037		recommend	103.5825	2.7027	100.0000	AAA	CND000000KN0
2025-11-18	17招路02	112563	Public offering corporate bond	Shenzhen Stock Exchange	1.7178	106.7525	1.4053	105.3472	1.7862	1.64	4.35	0.0175		recommend	106.7661	1.4190	100.0000	AAA-
2025-11-18	02国债05	020005	Book-entry T-bond	China Inter-Bank Market	6.5123	109.2237	1.4027	107.8210	1.6300	5.88	39.81	0.0643	0.0163	recommend	109.2316	1.4106	100.0000		CND0000002T9
2025-11-18	24工商银行CD152	112402152	Inter-bank negotiable certificates of deposit	China Inter-Bank Market	0.0466	99.9307	1.5937	98.3369	1.4900	0.05	0.00	0.0005		recommend	99.9352	1.5983	100.0000	AAA	CND10008TFF0
2025-11-18	24新余城建CP001	042400087	Short-term commercial paper (CP)	China Inter-Bank Market	0.0877	101.9367	1.9068	100.0299	1.6144	0.09	0.02	0.0009		recommend	101.9424	1.9125	100.0000	AA(2)	CND10008R6F5
2025-11-18	13青国投MTN001	101354012	Medium-term note (MTN)	China Inter-Bank Market	2.7370	110.9663	1.6780	109.2883	2.8008	2.50	8.92	0.0277		recommend	110.9838	1.6955	100.0000	AA-	CND100011881
2025-11-18	23浙江01	101900	Local government bond	Shenzhen Stock Exchange	4.2384	107.6258	2.2621	105.3637	1.6483	3.90	19.80	0.0420		recommend	107.6339	2.2702	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
2025-11-18	10914000146	3.9123	113.9023	0.8400	113.0623	2.8061	Recommend
2025-11-18	10914000188	0.6630	37.7421	3.5461	34.1960	3.0487	Recommend
2025-11-18	10914000199		103.3167	1.7759	101.5408	2.7171	Recommend
2025-11-18	10914010188	0.6685	37.7612	3.5590	34.2022	3.0487	Recommend
2025-11-18	10914020188	0.6685	37.7612	3.5590	34.2022	3.0487	Recommend
2025-11-18	10914030188	0.6685	37.7612	3.5590	34.2022	3.0487	Recommend
2025-11-18	10914040188	0.6685	37.7612	3.5590	34.2022	3.0487	Recommend
2025-11-18	10914050188	0.6685	37.7612	3.5590	34.2022	3.0487	Recommend
2025-11-18	10914060188	0.6685	37.7612	3.5590	34.2022	3.0487	Recommend
2025-11-18	10915000009	0.1014	101.0341	0.7827	100.2515	2.8796	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
2025-11-18	10914000146	3.9123	113.9023	0.8400	113.0623	2.8061	113.9198	0.8575	Recommend
2025-11-18	10914000188	0.6630	37.7421	3.5461	34.1960	3.0487	37.7486	3.5525	Recommend
2025-11-18	10914000199		103.3167	1.7759	101.5408	2.7171	103.3296	1.7888	Recommend
2025-11-18	10914010188	0.6685	37.7612	3.5590	34.2022	3.0487	37.7676	3.5654	Recommend
2025-11-18	10914020188	0.6685	37.7612	3.5590	34.2022	3.0487	37.7676	3.5654	Recommend
2025-11-18	10914030188	0.6685	37.7612	3.5590	34.2022	3.0487	37.7676	3.5654	Recommend
2025-11-18	10914040188	0.6685	37.7612	3.5590	34.2022	3.0487	37.7676	3.5654	Recommend
2025-11-18	10914050188	0.6685	37.7612	3.5590	34.2022	3.0487	37.7676	3.5654	Recommend
2025-11-18	10914060188	0.6685	37.7612	3.5590	34.2022	3.0487	37.7676	3.5654	Recommend
2025-11-18	10915000009	0.1014	101.0341	0.7827	100.2515	2.8796	101.0489	0.7974	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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