China Merchants Securities gets CSRC approval for up to 40 bn yuan bond issuance

China Merchants Securities Co., Ltd. announced on December 11, 2025, that it has received approval from the China Securities Regulatory Commission (CSRC) for the registration of publicly offered corporate bonds to professional investors. The CSRC's approval allows the company to issue bonds with a total face value not exceeding 40 billion yuan.

The approval is valid for 24 months from the registration date, during which China Merchants Securities can issue the bonds in tranches. The company is required to strictly adhere to the prospectus submitted to the Shanghai Stock Exchange and report any significant events that occur before the completion of the bond issuance.

China Merchants Securities will proceed with the bond issuance in accordance with relevant laws, regulations, the CSRC's approval, and the authorization granted by its general meeting of shareholders. The company also commits to fulfilling its information disclosure obligations promptly.