Changjiang Securities extends bond book-building, sets yield, major shareholder pledges shares

Changjiang Securities Company Limited extended the book-building period for its "2025 publicly issued corporate bonds (tranche 4) to professional investors." The process, initially scheduled to conclude at 6:00 PM on November 12, 2025, was extended to 7:00 PM on the same day due to significant market volatility. These bonds, part of a RMB 200 bn registration, are offered to professional investors following approval from the China Securities Regulatory Commission (CSRC) on September 24, 2025.

Following the extended book-building, the company announced a final coupon rate of 1.93% for the fourth tranche of its 2025 bonds, which has a maximum issuance size of RMB 3.00 bn. The rate was determined after investor inquiry within a range of 1.45%-2.45%. Subscriptions for these bonds will open from November 13 to November 14, 2025.

In a separate announcement, Changjiang Securities disclosed that its major shareholder, Xinliyis Group Co., Ltd., pledged 411,666,100 shares, representing 49.99% of its total holdings or 7.44% of the company's total share capital, for stock repurchase transactions. As of November 10, 2025, Xinliyis Group Co., Ltd. and its concerted parties had pledged 38.62% of their total shares.