China Galaxy Securities Co., Ltd. (06881) has announced the successful public issuance of its 2026 Perpetual Subordinated Bonds (Phase I) on January 15, 2026, following authorization from shareholders and approval from the China Securities Regulatory Commission.

The total issuance size of these bonds amounts to RMB 5 billion, with an issuance price of RMB 100 per unit.

Structured with repricing cycles of five interest-bearing years each, the company holds the option at the end of every cycle to either extend the bond's maturity for another five-year period or fully redeem the bonds.

An initial coupon rate of 2.37% has been set for the first repricing cycle, covering the first five interest-bearing years.

Proceeds raised from this bond issuance will be allocated towards supplementing the company's working capital.

Underwriters and their affiliates participated in the subscription of this bond issuance.

Lead underwriter China Securities Co., Ltd. subscribed for and was allocated RMB 150 million of the bonds, while Fullgoal Fund Management Co., Ltd., an affiliate of lead underwriter Shenwan Hongyuan Securities Co., Ltd., participated and was allocated RMB 120 million.

Affiliates of lead underwriter Guosen Securities Co., Ltd., namely China Southern Fund Management Co., Ltd. and China Resources Shenzhen International Trust Co., Ltd., participated in the subscription and were allocated RMB 140 million and RMB 50 million of the bonds, respectively.