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
2025-12-11	03三峡债	038006	China Inter-Bank Market	7.6384	119.7151	1.7576	117.9575	2.2709	AAA
2025-12-11	24工商银行CD158	112402158	China Inter-Bank Market	0.0027	99.9961	1.6670	98.3291	1.4108	AAA
2025-12-11	16东方财信PPN001	031664011	China Inter-Bank Market	0.1315	104.6135	4.2556	100.3579	2.0824	AA(2)
2025-12-11	01国开21	010221	Commercial Bank Counter Market	6.0877	117.2684	1.8670	115.4014	1.8341
2025-12-11	06冀建投债	068012	Commercial Bank Counter Market	0.2932	103.6679	2.9546	100.7133	1.6540	AAA
2025-12-11	17招路02	112563	Shenzhen Stock Exchange	1.6548	106.7903	1.7191	105.0711	1.8344	AAA-
2025-12-11	02国债05	020005	China Inter-Bank Market	6.4493	107.6306	0.1362	107.4944	1.6700
2025-12-11	24新余城建CP001	042400087	China Inter-Bank Market	0.0247	102.0376	2.0385	99.9992	1.7027	AA(2)
2025-12-11	13青国投MTN001	101354012	China Inter-Bank Market	2.6740	111.1706	2.0801	109.0906	2.7967	AA-
2025-12-11	23浙江01	101900	Commercial Bank Counter Market	4.1753	107.6827	2.4492	105.2335	1.6613	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
2025-12-11	03三峡债	038006	Central enterprise bond	China Inter-Bank Market	7.6384	119.7151	1.7576	117.9575	2.2709	6.42	51.59	0.0769		recommend	119.7284	1.7709	100.0000	AAA	CND0000004T5
2025-12-11	24工商银行CD158	112402158	Inter-bank negotiable certificates of deposit	China Inter-Bank Market	0.0027	99.9961	1.6670	98.3291	1.4108	0.00	0.00	0.0000		recommend	100.0007	1.6716	100.0000	AAA	CND10008TFM6
2025-12-11	16东方财信PPN001	031664011	Private placement instruments (PPN)	China Inter-Bank Market	0.1315	104.6135	4.2556	100.3579	2.0824	0.13	0.03	0.0014		recommend	104.6269	4.2690	100.0000	AA(2)	CND100018KS0
2025-12-11	01国开21	010221	Senior bond of policy bank	Commercial Bank Counter Market	6.0877	117.2684	1.8670	115.4014	1.8341	5.31	33.33	0.0623		recommend	117.2806	1.8792	100.0000		CND0000002K8
2025-12-11	06冀建投债	068012	Local enterprise bond	Commercial Bank Counter Market	0.2932	103.6679	2.9546	100.7133	1.6540	0.30	0.18	0.0031		recommend	103.6794	2.9661	100.0000	AAA	CND000000KN0
2025-12-11	17招路02	112563	Public offering corporate bond	Shenzhen Stock Exchange	1.6548	106.7903	1.7191	105.0711	1.8344	1.58	4.09	0.0169		recommend	106.8039	1.7328	100.0000	AAA-
2025-12-11	02国债05	020005	Book-entry T-bond	China Inter-Bank Market	6.4493	107.6306	0.1362	107.4944	1.6700	5.90	39.55	0.0635	0.0167	recommend	107.6386	0.1442	100.0000		CND0000002T9
2025-12-11	24新余城建CP001	042400087	Short-term commercial paper (CP)	China Inter-Bank Market	0.0247	102.0376	2.0385	99.9992	1.7027	0.03	0.00	0.0003		recommend	102.0434	2.0442	100.0000	AA(2)	CND10008R6F5
2025-12-11	13青国投MTN001	101354012	Medium-term note (MTN)	China Inter-Bank Market	2.6740	111.1706	2.0801	109.0906	2.7967	2.44	8.56	0.0271		recommend	111.1881	2.0975	100.0000	AA-	CND100011881
2025-12-11	23浙江01	101900	Local government bond	Commercial Bank Counter Market	4.1753	107.6827	2.4492	105.2335	1.6613	3.84	19.25	0.0414		recommend	107.6908	2.4574	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
2025-12-11	10914000146	3.8493	114.0511	1.2425	112.8086	2.8200	Recommend
2025-12-11	10914000188	0.6000	37.8086	3.6941	34.1144	3.0784	Recommend
2025-12-11	10914000199		103.2131	2.0719	101.1412	2.7561	Recommend
2025-12-11	10914010188	0.6055	37.8276	3.7070	34.1206	3.0784	Recommend
2025-12-11	10914020188	0.6055	37.8276	3.7070	34.1206	3.0784	Recommend
2025-12-11	10914030188	0.6055	37.8276	3.7070	34.1206	3.0784	Recommend
2025-12-11	10914040188	0.6055	37.8276	3.7070	34.1206	3.0784	Recommend
2025-12-11	10914050188	0.6055	37.8276	3.7070	34.1206	3.0784	Recommend
2025-12-11	10914060188	0.6055	37.8276	3.7070	34.1206	3.0784	Recommend
2025-12-11	10915000009	0.0384	101.2132	1.1223	100.0909	2.9834	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
2025-12-11	10914000146	3.8493	114.0511	1.2425	112.8086	2.8200	114.0686	1.2600	Recommend
2025-12-11	10914000188	0.6000	37.8086	3.6941	34.1144	3.0784	37.8150	3.7006	Recommend
2025-12-11	10914000199		103.2131	2.0719	101.1412	2.7561	103.2259	2.0848	Recommend
2025-12-11	10914010188	0.6055	37.8276	3.7070	34.1206	3.0784	37.8341	3.7134	Recommend
2025-12-11	10914020188	0.6055	37.8276	3.7070	34.1206	3.0784	37.8341	3.7134	Recommend
2025-12-11	10914030188	0.6055	37.8276	3.7070	34.1206	3.0784	37.8341	3.7134	Recommend
2025-12-11	10914040188	0.6055	37.8276	3.7070	34.1206	3.0784	37.8341	3.7134	Recommend
2025-12-11	10914050188	0.6055	37.8276	3.7070	34.1206	3.0784	37.8341	3.7134	Recommend
2025-12-11	10914060188	0.6055	37.8276	3.7070	34.1206	3.0784	37.8341	3.7134	Recommend
2025-12-11	10915000009	0.0384	101.2132	1.1223	100.0909	2.9834	101.2280	1.1371	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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