Western Securities appoints new board secretary, details 2024 and 2025 bond activity

Guoyuan Securities, acting as bond trustee, has issued its seventh interim trustee management report for Western Securities' 2025 corporate bonds. The report confirmed the appointment of Yuan Xing as the new board secretary, effective November 17, 2025. Yuan, born in August 1986, holds a master's degree and has a background in wealth and operations management, having previously served in various roles within Western Securities. His appointment follows the expiration of the term of the previous board secretary, Huang Bin, who did not hold company shares.

The report also detailed Western Securities' corporate bond issuance activities, including ten tranches of bonds issued in 2024 and 2025. Noteworthy issuances in 2024 included "24 Xibu 01" (1 bn yuan), "24 Xibu 03" (1.6 bn yuan), and "24 Xibu 05" (700 m yuan), all with a three-year term and no put option. For 2025, key issuances included "25 Xibu 01" (1 bn yuan), "25 Xibu K1" (1 bn yuan), and "25 Xibu 04" (1.5 bn yuan), also with a three-year term and no put option.

The company's daily management and operations remain stable, and the personnel change is not expected to significantly impact its corporate governance, operations, or debt repayment capabilities. Guoyuan Securities affirmed its commitment to fulfilling its trustee responsibilities and ensuring timely information disclosure.