Western Securities issues bonds, acquires majority stake in Guorong Securities

Western Securities Co., Ltd. is issuing RMB15 bn in corporate bonds (fourth tranche) with a 3-year term, following regulatory approval for a total of RMB180 bn. The bonds are rated AAA by Lianhe Credit Rating Co., Ltd. and are unsecured. Proceeds will primarily boost liquidity and repay existing debt, supporting business expansion and a shift towards capital-driven operations.

Concurrently, the company has completed the acquisition of 64.5961% of Guorong Securities, making it a major shareholder. This acquisition is expected to enhance Western Securities’ business competitiveness. The company also reported a 16.23% decrease in operating revenue for H1 2025, primarily due to a decline in commodity trading income. Despite this, its internal controls are sound, and it continues to meet regulatory requirements, including capital adequacy.