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
2025-12-19	03三峡债	038006	China Inter-Bank Market	7.6164	119.9173	1.8641	118.0532	2.2522	AAA
2025-12-19	16东方财信PPN001	031664011	China Inter-Bank Market	0.1096	104.6568	4.3630	100.2938	2.1203	AA(2)
2025-12-19	01国开21	010221	Commercial Bank Counter Market	6.0658	117.2939	1.9652	115.3287	1.8375
2025-12-19	06冀建投债	068012	Commercial Bank Counter Market	0.2712	103.7048	3.0462	100.6586	1.6559	AAA
2025-12-19	24工商银行CD171	112402171	China Inter-Bank Market	0.0110	99.9844	1.5959	98.3885	1.4250	AAA
2025-12-19	17招路02	112563	Shenzhen Stock Exchange	1.6329	106.8572	1.8283	105.0290	1.8197	AAA-
2025-12-19	02国债05	020005	China Inter-Bank Market	6.4274	107.7176	0.2003	107.5173	1.6625
2025-12-19	24新余城建CP001	042400087	China Inter-Bank Market	0.0027	102.0758	2.0843	99.9915	1.6978	AA(2)
2025-12-19	13青国投MTN001	101354012	China Inter-Bank Market	2.6521	111.2016	2.2199	108.9817	2.8102	AA-
2025-12-19	23浙江01	101900	China Inter-Bank Market	4.1534	107.6749	2.5143	105.1606	1.6727	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
2025-12-19	03三峡债	038006	Central enterprise bond	China Inter-Bank Market	7.6164	119.9173	1.8641	118.0532	2.2522	6.40	51.33	0.0768	recommend	119.9306	1.8774	100.0000	AAA	CND0000004T5
2025-12-19	16东方财信PPN001	031664011	Private placement instruments (PPN)	China Inter-Bank Market	0.1096	104.6568	4.3630	100.2938	2.1203	0.11	0.02	0.0011	recommend	104.6702	4.3764	100.0000	AA(2)	CND100018KS0
2025-12-19	01国开21	010221	Senior bond of policy bank	Commercial Bank Counter Market	6.0658	117.2939	1.9652	115.3287	1.8375	5.29	33.09	0.0621	recommend	117.3062	1.9775	100.0000		CND0000002K8
2025-12-19	06冀建投债	068012	Local enterprise bond	Commercial Bank Counter Market	0.2712	103.7048	3.0462	100.6586	1.6559	0.28	0.15	0.0029	recommend	103.7163	3.0577	100.0000	AAA	CND000000KN0
2025-12-19	24工商银行CD171	112402171	Inter-bank negotiable certificates of deposit	China Inter-Bank Market	0.0110	99.9844	1.5959	98.3885	1.4250	0.01	0.00	0.0001	recommend	99.9888	1.6003	98.3864	AAA	CND10008TG91
2025-12-19	17招路02	112563	Public offering corporate bond	Shenzhen Stock Exchange	1.6329	106.8572	1.8283	105.0290	1.8197	1.56	4.00	0.0167	recommend	106.8709	1.8419	100.0000	AAA-
2025-12-19	02国债05	020005	Book-entry T-bond	China Inter-Bank Market	6.4274	107.7176	0.2003	107.5173	1.6625	5.88	39.28	0.0633	recommend	107.7256	0.2083	100.0000		CND0000002T9
2025-12-19	24新余城建CP001	042400087	Short-term commercial paper (CP)	China Inter-Bank Market	0.0027	102.0758	2.0843	99.9915	1.6978	0.01	0.00	0.0001	recommend	102.0815	2.0900	100.0000	AA(2)	CND10008R6F5
2025-12-19	13青国投MTN001	101354012	Medium-term note (MTN)	China Inter-Bank Market	2.6521	111.2016	2.2199	108.9817	2.8102	2.42	8.43	0.0269	recommend	111.2191	2.2374	100.0000	AA-	CND100011881
2025-12-19	23浙江01	101900	Local government bond	China Inter-Bank Market	4.1534	107.6749	2.5143	105.1606	1.6727	3.82	19.06	0.0411	recommend	107.6831	2.5225	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
2025-12-19	10914000146	3.8274	114.3156	1.3825	112.9331	2.7708	Recommend
2025-12-19	10914000188	0.5781	34.1291	0.0193	34.1098	2.9452	Recommend
2025-12-19	10914000199		103.1866	2.1748	101.0118	2.7685	Recommend
2025-12-19	10914010188	0.5836	34.1418	0.0257	34.1160	2.9452	Recommend
2025-12-19	10914020188	0.5836	34.1418	0.0257	34.1160	2.9452	Recommend
2025-12-19	10914030188	0.5836	34.1418	0.0257	34.1160	2.9452	Recommend
2025-12-19	10914040188	0.5836	34.1418	0.0257	34.1160	2.9452	Recommend
2025-12-19	10914050188	0.5836	34.1418	0.0257	34.1160	2.9452	Recommend
2025-12-19	10914060188	0.5836	34.1418	0.0257	34.1160	2.9452	Recommend
2025-12-19	10915000009	0.0164	101.2820	1.2404	100.0415	2.8276	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
2025-12-19	10914000146	3.8274	114.3156	1.3825	112.9331	2.7708	114.3331	1.4000	Recommend
2025-12-19	10914000188	0.5781	34.1291	0.0193	34.1098	2.9452	34.1356	0.0257	Recommend
2025-12-19	10914000199		103.1866	2.1748	101.0118	2.7685	103.1995	2.1877	Recommend
2025-12-19	10914010188	0.5836	34.1418	0.0257	34.1160	2.9452	34.1482	0.0322	Recommend
2025-12-19	10914020188	0.5836	34.1418	0.0257	34.1160	2.9452	34.1482	0.0322	Recommend
2025-12-19	10914030188	0.5836	34.1418	0.0257	34.1160	2.9452	34.1482	0.0322	Recommend
2025-12-19	10914040188	0.5836	34.1418	0.0257	34.1160	2.9452	34.1482	0.0322	Recommend
2025-12-19	10914050188	0.5836	34.1418	0.0257	34.1160	2.9452	34.1482	0.0322	Recommend
2025-12-19	10914060188	0.5836	34.1418	0.0257	34.1160	2.9452	34.1482	0.0322	Recommend
2025-12-19	10915000009	0.0164	101.2820	1.2404	100.0415	2.8276	101.2967	1.2552	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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