Beijing Compass subsidiary Maigao Securities to issue subordinated bonds

Beijing Compass Technology Development has approved its wholly-owned subsidiary, Maigao Securities Company Limited, to issue non-public subordinated bonds totaling up to 600 million yuan. The decision was made at the 14th Board of Directors' Seventh Meeting on August 29, 2025, with all six directors voting in favor. This issuance aims to optimize Maigao Securities' debt structure, reduce liquidity risk, support business expansion, and bolster its net capital.

The subordinated bonds will have a term not exceeding seven years and a fixed coupon rate not exceeding 5.5%. The proceeds, after deducting issuance expenses, will be used to supplement working capital and for other legally compliant purposes. The issuance method will be non-public, with the bonds listed on the Shanghai Stock Exchange, and the face value per bond set at 100 yuan.

The board has authorized Maigao Securities' operating decision-making committee to finalize the specific terms of the issuance, including the exact scale, timing, and interest rate, within the parameters set by the board resolution. This authorization is valid for 24 months, aligning with the bond issuance plan's validity.