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
2021-09-18	20沣东控股PPN001	032000894	China Inter-Bank Market	2.0959	106.6317	4.5025	102.1292	3.8982	AA(2)
2021-09-18	20伊犁财通CP001	042000418	China Inter-Bank Market	0.0192	103.4313	3.4231	100.0082	2.5895	AA(2)
2021-09-18	10附息国债18	100018	Shanghai Stock Exchange	18.7562	111.3990	0.9800	110.4190	3.2815
2021-09-18	19广州发展MTN002	101901198	China Inter-Bank Market	2.9562	101.9838	0.1688	101.8150	3.1959	AAA-
2021-09-18	21苏州银行CD280	112186672	China Inter-Bank Market	0.4000	98.9550	0.2601	98.6949	2.6039	AA＋
2021-09-18	15湘潭九华债	1580019	China Inter-Bank Market	0.3425	20.4785	0.8666	19.6119	11.9699	A-
2021-09-18	21城兴01	177654	Shanghai Stock Exchange	4.3370	105.9236	4.3096	101.6141	6.6236	AA(2)
2021-09-18	18贵州债06	1805074	Shenzhen Stock Exchange	1.6904	103.3534	1.2198	102.1336	2.6264	AAA-
2021-09-18	19进出03	190303	China Inter-Bank Market	0.4000	102.0206	1.7760	100.2446	2.3020
2021-09-18	19新兴绿色债02	1980089	Shenzhen Stock Exchange	2.5205	102.7659	2.0377	100.7282	3.2063	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
2021-09-18	20沣东控股PPN001	032000894	PPNs	China Inter-Bank Market	2.0959	106.6317	4.5025	102.1292	3.8982	1.88	5.56	0.0201	recommend	106.6453	4.5161	100.0000	0.00	17.17	0.00	0.10	AA(2)	CND10003TD73
2021-09-18	20伊犁财通CP001	042000418	Commercial Papers	China Inter-Bank Market	0.0192	103.4313	3.4231	100.0082	2.5895	0.02	0.00	0.0002	recommend	103.4409	3.4326	100.0000	0.00	17.17	0.00	0.10	AA(2)	CND10003RNH5
2021-09-18	10附息国债18	100018	Book-Entry Treasury Bonds	Shanghai Stock Exchange	18.7562	111.3990	0.9800	110.4190	3.2815	13.30	223.32	0.1482	recommend	111.4100	0.9910	100.0000	0.00	4.68	0.00	0.10		CND100002QT9
2021-09-18	19广州发展MTN002	101901198	Medium-Term Notes	China Inter-Bank Market	2.9562	101.9838	0.1688	101.8150	3.1959	2.76	10.45	0.0281	recommend	101.9943	0.1793	100.0000	0.00	17.17	0.00	0.10	AAA-
2021-09-18	21苏州银行CD280	112186672	Negotiable Certificates of Deposit	China Inter-Bank Market	0.4000	98.9550	0.2601	98.6949	2.6039	0.40	0.32	0.0040	recommend	98.9619	0.2669	98.7407	0.00	17.17	0.00	0.10	AA＋	CND10004LD62
2021-09-18	15湘潭九华债	1580019	Local Government Owned Enterprise Bonds	China Inter-Bank Market	0.3425	20.4785	0.8666	19.6119	11.9699	0.33	0.22	0.0007	recommend	20.4821	0.8702	20.0000	0.00	17.17	0.00	0.10	A-	CND1000085Q8
2021-09-18	21城兴01	177654	Corporate Bonds	Shanghai Stock Exchange	4.3370	105.9236	4.3096	101.6141	6.6236	1.21	2.68	0.0129	recommend	105.9414	4.3274	100.0000	0.00	4.68	0.00	0.10	AA(2)
2021-09-18	18贵州债06	1805074	Local Government Bonds	Shenzhen Stock Exchange	1.6904	103.3534	1.2198	102.1336	2.6264	1.61	4.20	0.0166	recommend	103.3642	1.2306	100.0000	0.00	7.44	0.00	0.10	AAA-	CND100010JT7
2021-09-18	19进出03	190303	Policy Bank Bonds	China Inter-Bank Market	0.4000	102.0206	1.7760	100.2446	2.3020	0.40	0.31	0.0040	recommend	102.0287	1.7841	100.0000	0.77	0.00	35.80	1.00		CND10001YC04
2021-09-18	19新兴绿色债02	1980089	Central Government Owned Enterprise Bonds	Shenzhen Stock Exchange	2.5205	102.7659	2.0377	100.7282	3.2063	0.52	0.53	0.0053	recommend	102.7775	2.0493	100.0000	0.00	7.44	0.00	0.10	AA＋	CND100025KX5

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
2021-09-18	02000377	2020年紫金信托-鑫众10号优先A3	1.0795	80.2175	80.2065	0.0109	3.9229	79.6600	Recommend	Based on the data of underlying assets
2021-09-18	02000377	2020年紫金信托-鑫众10号优先A3	4.9014	80.2198	80.2089	0.0109	3.9264	79.6600		Based on the data of underlying assets
2021-09-18	02100123	中原信托·永赢租赁2021年第2期	2.4822	99.6271	99.4529	0.1742	5.2301	94.6237	Recommend	Based on the data of underlying assets
2021-09-18	02100123	中原信托·永赢租赁2021年第2期	4.4822	99.6271	99.4529	0.1742	5.2301	94.6237		Based on the data of underlying assets
2021-09-18	02000378	2020年紫金信托-鑫众10号优先A4	1.7452	102.5996	102.5818	0.0178	4.7779	100.0000	Recommend	Based on the data of underlying assets
2021-09-18	02000378	2020年紫金信托-鑫众10号优先A4	4.9014	102.5996	102.5818	0.0178	4.7779	100.0000		Based on the data of underlying assets
2021-09-18	01900461	红棉广赢2019年第一期优先A1	0.1589	100.6376	100.2184	0.4192	3.1059	100.0000	Recommend	Based on the data of underlying assets
2021-09-18	01900461	红棉广赢2019年第一期优先A1	2.4110	100.6439	100.2247	0.4192	3.1059	100.0000		Based on the data of underlying assets
2021-09-18	02000219	2020年粤财信托-丰泰2号优先B	0.0219	100.2380	100.0049	0.2332	3.4688	100.0000	Recommend	Based on the data of underlying assets
2021-09-18	02000219	2020年粤财信托-丰泰2号优先B	2.1041	100.2393	100.0061	0.2332	3.4688	100.0000		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
2021-09-18	02000377	2020年紫金信托-鑫众10号优先A3	南京银行股份有限公司	5.0000	AAA	1.0795	Based on Expected Maturity Date	80.2175	80.2065	0.0109	3.9229	79.6600	Recommend	Based on the data of underlying assets
2021-09-18	02000377	2020年紫金信托-鑫众10号优先A3	南京银行股份有限公司	5.0000	AAA	4.9014	Based on Final Maturity Date	80.2198	80.2089	0.0109	3.9264	79.6600		Based on the data of underlying assets
2021-09-18	02100123	中原信托·永赢租赁2021年第2期	永赢金融租赁有限公司	8.4000		2.4822	Based on Expected Maturity Date	99.6271	99.4529	0.1742	5.2301	94.6237	Recommend	Based on the data of underlying assets
2021-09-18	02100123	中原信托·永赢租赁2021年第2期	永赢金融租赁有限公司	8.4000		4.4822	Based on Final Maturity Date	99.6271	99.4529	0.1742	5.2301	94.6237		Based on the data of underlying assets
2021-09-18	02000378	2020年紫金信托-鑫众10号优先A4	南京银行股份有限公司	6.5000	AAA	1.7452	Based on Expected Maturity Date	102.5996	102.5818	0.0178	4.7779	100.0000	Recommend	Based on the data of underlying assets
2021-09-18	02000378	2020年紫金信托-鑫众10号优先A4	南京银行股份有限公司	6.5000	AAA	4.9014	Based on Final Maturity Date	102.5996	102.5818	0.0178	4.7779	100.0000		Based on the data of underlying assets
2021-09-18	01900461	红棉广赢2019年第一期优先A1	广州银行股份有限公司	4.5000	AAA	0.1589	Based on Expected Maturity Date	100.6376	100.2184	0.4192	3.1059	100.0000	Recommend	Based on the data of underlying assets
2021-09-18	01900461	红棉广赢2019年第一期优先A1	广州银行股份有限公司	4.5000	AAA	2.4110	Based on Final Maturity Date	100.6439	100.2247	0.4192	3.1059	100.0000		Based on the data of underlying assets
2021-09-18	02000219	2020年粤财信托-丰泰2号优先B	浙江泰隆商业银行股份有限公司	3.7000	AA+	0.0219	Based on Expected Maturity Date	100.2380	100.0049	0.2332	3.4688	100.0000	Recommend	Based on the data of underlying assets
2021-09-18	02000219	2020年粤财信托-丰泰2号优先B	浙江泰隆商业银行股份有限公司	3.7000	AA+	2.1041	Based on Final Maturity Date	100.2393	100.0061	0.2332	3.4688	100.0000		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
2021-09-18	10916000081	0.2438	101.4653	1.1507	100.3146	4.7784	Recommend
2021-09-18	10917000190	1.0027	102.6759	1.3067	101.3691	4.0810	Recommend
2021-09-18	10918000068	1.6000	103.8832	1.4696	102.4136	4.4626	Recommend
2021-09-18	10918000308	1.9288	105.0120	1.4825	103.5295	4.2288	Recommend
2021-09-18	10919000332	13.0329	97.7722	1.3212	96.4510	6.1086	Recommend
2021-09-18	10919000385	1.0795	101.2634	1.7556	99.5078	7.9063	Recommend
2021-09-18	10920000143	1.6055	102.8926	1.4055	101.4872	4.8175	Recommend
2021-09-18	10920000283	3.8466	103.6263	1.3045	102.3218	4.7663	Recommend
2021-09-18	10920000380	0.0082	105.2854	5.2900	99.9954	5.5604	Recommend
2021-09-18	10920000457	6.0986	102.7354	1.1143	101.6211	4.3323	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
2021-09-18	10916000081	0.2438	101.4653	1.1507	100.3146	4.7784	101.4817	1.1671	Recommend
2021-09-18	10917000190	1.0027	102.6759	1.3067	101.3691	4.0810	102.6907	1.3216	Recommend
2021-09-18	10918000068	1.6000	103.8832	1.4696	102.4136	4.4626	103.8996	1.4859	Recommend
2021-09-18	10918000308	1.9288	105.0120	1.4825	103.5295	4.2288	105.0287	1.4992	Recommend
2021-09-18	10919000332	13.0329	97.7722	1.3212	96.4510	6.1086	97.7872	1.3362	Recommend
2021-09-18	10919000385	1.0795	101.2634	1.7556	99.5078	7.9063	101.2831	1.7753	Recommend
2021-09-18	10920000143	1.6055	102.8926	1.4055	101.4872	4.8175	102.9082	1.4211	Recommend
2021-09-18	10920000283	3.8466	103.6263	1.3045	102.3218	4.7663	103.6409	1.3192	Recommend
2021-09-18	10920000380	0.0082	105.2854	5.2900	99.9954	5.5604	105.2999	5.3045	Recommend
2021-09-18	10920000457	6.0986	102.7354	1.1143	101.6211	4.3323	102.7479	1.1268	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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