Northeast Securities issues AA+ subordinated bonds, maintains AAA corporate rating

Northeast Securities Co., Ltd. has announced the public issuance of its 2025 Subordinated Bonds (Tranche 7) to professional investors. China Lianhe Credit Rating Co., Ltd. assigned an AAA long-term credit rating to Northeast Securities as a corporate entity, with a stable outlook, and an AA+ rating for the Tranche 7 bonds. The issuance will not exceed 800 million yuan, with a maturity of 3 years. These bonds are unsecured, with repayment priority subordinated to general creditors but senior to equity capital.

As of September 30, 2025, Northeast Securities reported total assets of 1,100.58 billion yuan and net assets of 204.31 billion yuan. Net profit attributable to shareholders for January-September 2025 was 10.67 billion yuan, a 125.21% increase year-on-year. The company maintains strong liquidity, with a liquidity coverage ratio of 183.15% and net capital of 161.17 billion yuan, reflecting very good capital adequacy.

The proceeds from this issuance will be used to repay existing corporate bonds with a maturity of over one year. The total outstanding balance of public corporate bonds, including those of its subsidiaries, after this issuance is estimated at 225.60 billion yuan, representing 110.42% of the company's net assets. This issuance further strengthens the company’s capital structure and enhances its ability to manage short-term debt.