Stock abbreviation: Western Securities Co.Ltd(002673) Stock Code: 002673 SZ bond abbreviation: 20 West 01 bond Code: 149176 SZ bond abbreviation: 20 West 02 bond Code: 149216 SZ Soochow Securities Co.Ltd(601555)
About Western Securities Co.Ltd(002673)
Interim report on entrusted management affairs in which the accumulated new loans of the current year exceed 60% of the net assets at the end of the previous year
publisher:
Room 10000, building 8, No. 319, Dongxin Street, Xincheng District, Xi’an City, Shaanxi Province
Bond trustee:
No. 5, Xingyang street, Suzhou Industrial Park
January 2022
Important statement
This report is based on the measures for the administration of corporate bond issuance and trading, code of practice for corporate bond trustee, prospectus for Western Securities Co.Ltd(002673) 2020 public issuance of corporate bonds (for professional investors) (phase I) and prospectus for Western Securities Co.Ltd(002673) 2020 public issuance of corporate bonds (for professional investors) (phase II) Relevant provisions and agreements such as the bond trustee agreement for the public issuance of corporate bonds (for professional investors) in 2020, public information disclosure documents, professional opinions issued by third-party intermediaries, relevant explanatory documents issued by Western Securities Co.Ltd(002673) (hereinafter referred to as ” Western Securities Co.Ltd(002673) “, “issuer” or “company”) and relevant materials provided, Prepared by the corporate bond trustee Soochow Securities Co.Ltd(601555) (hereinafter referred to as ” Soochow Securities Co.Ltd(601555) “). Soochow Securities Co.Ltd(601555) has not independently verified the relevant quoted contents and information contained in the report, and does not make any guarantee or assume any responsibility for the authenticity, accuracy and completeness of such quoted contents and information.
This report does not constitute a recommendation for investors to do or not do a certain behavior. Investors should make independent judgment on relevant matters, and should not take any content in this report as a commitment or statement made by Soochow Securities Co.Ltd(601555) . Under no circumstances will Soochow Securities Co.Ltd(601555) bear any responsibility for any act or omission of the investor in accordance with this report.
1、 Approval documents and issuance scale of corporate bonds
On April 25, 2019, the issuer held the second meeting of the Fifth Board of directors, deliberated and adopted the proposal on general authorization of the company’s debt financing scale and debt financing instruments, and unanimously agreed to submit to the general meeting of shareholders to authorize the board of directors of the company and the board of directors of the company to delegate the chairman of the company to ensure the risk control indicators On the premise that the liquidity regulatory indicators and the risk limits of various debt financing instruments comply with relevant laws and regulations and the provisions of regulatory authorities, choose the opportunity to handle all matters related to the issuance of debt financing instruments, including but not limited to determining the type of debt financing, financing amount, issuance time, term, interest rate, use and management of financing funds, etc, The above proposals shall be submitted to the general meeting of shareholders for deliberation.
On May 21, 2019, the issuer held the 2018 annual general meeting of shareholders and considered and adopted the above proposal. On March 4, 2020, the issuer held the seventh meeting of the chairman’s joint meeting in 2020, deliberated and adopted the proposal on the proposal for the company to publicly issue corporate bonds, and decided to publicly issue corporate bonds to professional investors, with an issuance scale of no more than RMB 4 billion (including RMB 4 billion).
With the approval of Shenzhen Stock Exchange (hereinafter referred to as “SZSE”) and registered with China Securities Regulatory Commission (zjxk [2020] No. 893), the issuer is allowed to publicly issue corporate bonds with a total face value of no more than 4 billion yuan to professional investors. The bonds are issued in installments, and the first installment shall be completed within 12 months from the date when the CSRC agrees to register; The issuance of other issues of bonds shall be completed within 24 months from the date when the CSRC agrees to register. 2、 Overview of corporate bonds
(I) 20 West 01
1. Issuer
The issuer of the bonds is Western Securities Co.Ltd(002673) .
2. Bond name
The name of this bond is Western Securities Co.Ltd(002673) 2020 public issuance of corporate bonds (for professional investors) (phase I).
3. Issuance scale
The issuance scale of this bond is 2 billion yuan.
4. Bond term
The term of the bonds is 3 years.
5. Face value and issue price
The face value of each bond is 100 yuan, which is issued at par.
6. Bond form
The current bonds are real name bookkeeping corporate bonds. The current bonds subscribed by investors shall be recorded in the custody account opened by the registration institution. After the issuance of the bonds, the bondholders may transfer and pledge the bonds in accordance with the provisions of the relevant competent authorities.
7. Bond interest rate
The annual coupon rate of the bonds is 3.77%.
8. First day of issue
The first day of the issuance period of the bonds, i.e. July 24, 2020.
9. Term of issue
From the first day of issuance to July 27, 2020, there are two trading days in total.
10. Value date
The value date of the bonds is July 27, 2020.
11. Interest payment date
The interest payment date of the interest bearing year is July 27 of each year during the duration of the bonds. In case of legal holidays or rest days, it will be postponed to the next working day, and no interest will be calculated during the extended period.
12. Payment date
The payment date of the current bonds is July 27, 2023. In case of legal holidays or rest days, it will be postponed to the next working day, and no interest will be calculated during the extended period.
13. Interest registration date
During the duration of the bonds, the interest registration date shall be implemented in accordance with the relevant provisions of Shenzhen Stock Exchange and securities registration authority. The holders of current bonds registered after the closing of the market on the interest registration date are entitled to receive the interest of the interest year in which the interest registration date is located.
14. Interest payment and cashing method
For the payment of principal and interest of the current bonds, the list of bondholders will be counted in accordance with the relevant provisions of the current bond registration authority. Simple interest is adopted and interest is calculated on an annual basis without compound interest. The interest shall be paid once a year, the principal shall be repaid once when due, and the last interest shall be paid together with the payment of the principal. No additional interest shall be calculated for the annual interest payment from the date of interest payment, and no additional interest shall be calculated for the principal from the date of principal cashing.
15. Guarantee situation
The bonds are unsecured.
16. Special account for raised funds
(1) Account Name: Western Securities Co.Ltd(002673)
Bank of deposit: Industrial And Commercial Bank Of China Limited(601398) Xi’an Dongxin Street sub branch
Bank account No.: 3700012129200900118
(2) Account Name: Western Securities Co.Ltd(002673)
Bank of deposit: China Merchants Bank Co.Ltd(600036) Xi’an Branch Business Department
Bank account No.: 129902986610369
(3) Account Name: Western Securities Co.Ltd(002673)
Bank of deposit: Agricultural Bank Of China Limited(601288) Xi’an Zhonglou sub branch
Bank account No.: 26145001040023776
17. Credit rating and credit rating agencies
According to the comprehensive evaluation of joint rating, the main credit rating of the company is AAA, and the credit rating of the current bond is AAA.
18. Lead underwriter and bond trustee
The lead underwriter and trustee of the bonds are Soochow Securities Co.Ltd(601555) .
19. Underwriting mode
The principal underwriter Soochow Securities Co.Ltd(601555) organizes an underwriting syndicate to underwrite the bonds in the form of balance underwriting.
20. Distribution method and object
The bonds are issued in the form of inquiry to offline professional investors and placement according to bookkeeping and filing. The issuing objects are professional investors holding A-share securities accounts of China Securities Depository and Clearing Co., Ltd. Shenzhen Branch (except buyers prohibited by laws and regulations). After the bonds are listed, investor suitability management will be implemented, and only professional investors can participate in the transaction. The transaction subscribed or purchased by ordinary investors is invalid. The source of subscription funds of professional investors must comply with the relevant provisions of the state.
21. Placement arrangement to shareholders of the company
The bonds will not be placed preferentially to the shareholders of the company.
22. Listed trading places
Shenzhen Stock Exchange.
23. Purpose of raised funds
The funds raised from the issuance of corporate bonds in the current period shall be used to repay the company’s due debts after deducting relevant issuance expenses.
24. Pledge repurchase
The main long-term credit rating of the company is AAA, and the credit rating of the current bonds is AAA. The current bonds meet the basic conditions for pledge repo transactions. The specific conversion rate and other matters will be implemented in accordance with the relevant provisions of the registration company.
25. Tax Tips
According to the relevant tax laws and regulations of the state, the tax payable by the investor for investing in the bonds shall be borne by the investor.
(II) 20 West 02
1. Issuer
The issuer of the bonds is Western Securities Co.Ltd(002673) .
2. Bond name
The name of this bond is Western Securities Co.Ltd(002673) 2020 public issuance of corporate bonds (for professional investors) (phase II).
3. Issuance scale
The issuance scale of this bond is 2 billion yuan.
4. Bond term
The term of the bonds is 2 years.
5. Face value and issue price
The face value of each bond is 100 yuan, which is issued at par.
6. Bond form
The current bonds are real name bookkeeping corporate bonds. The current bonds subscribed by investors shall be recorded in the custody account opened by the registration institution. After the issuance of the bonds, the bondholders may transfer and pledge the bonds in accordance with the provisions of the relevant competent authorities.
7. Bond interest rate and its determination method
The annual coupon rate of the bonds is 3.68%.
8. First day of issue
The first day of the issuance period of the bonds, i.e. August 27, 2020.
9. Term of issue
There are two trading days from the first day of issuance to August 28, 2020.
10. Value date
The value date of the bonds is August 28, 2020.
11. Interest payment date
August 28 of each year during the duration of the bonds is the interest payment date of the interest bearing year. In case of legal holidays or rest days, it will be postponed to the next trading day, and no interest will be calculated during the extended period.
12. Payment date
The payment date of current bonds is August 28, 2022. In case of legal holidays or rest days, it will be postponed to the next trading day, and no interest will be calculated during the extended period.
13. Interest registration date
During the duration of the bonds, the interest registration date shall be implemented in accordance with the relevant provisions of Shenzhen Stock Exchange and securities registration authority. The holders of current bonds registered after the closing of the market on the interest registration date are entitled to receive the interest of the interest year in which the interest registration date is located.
14. Interest payment and cashing method
For the payment of principal and interest of the current bonds, the list of bondholders will be counted in accordance with the relevant provisions of the current bond registration authority. Simple interest is adopted and interest is calculated on an annual basis without compound interest. The interest shall be paid once a year, the principal shall be repaid once when due, and the last interest shall be paid together with the payment of the principal. No additional interest shall be calculated for the annual interest payment from the date of interest payment, and no additional interest shall be calculated for the principal from the date of principal cashing.
15. Guarantee situation
The bonds are unsecured.
16. Special account for raised funds
(1) Account Name: Western Securities Co.Ltd(002673)
Bank of deposit: Industrial And Commercial Bank Of China Limited(601398) Xi’an Dongxin Street sub branch
Bank account No.: 3700012129200900118
(2) Account Name: Western Securities Co.Ltd(002673)
Bank of deposit: China Merchants Bank Co.Ltd(600036) Xi’an Branch Business Department
Bank account No.: 129902986610369
(3) Account Name: Western Securities Co.Ltd(002673)
Bank of deposit: Agricultural Bank Of China Limited(601288) Xi’an Zhonglou sub branch
Bank account No.: 26145001040023776
17. Credit rating and credit rating agencies
According to the comprehensive evaluation of joint rating, the main credit rating of the company is AAA, and the credit rating of current bonds is AAA.
18. Lead underwriter and bond trustee
The lead underwriter and trustee of the bonds are Soochow Securities Co.Ltd(601555) .
19. Underwriting mode
The principal underwriter Soochow Securities Co.Ltd(601555) organizes an underwriting syndicate to underwrite the bonds in the form of balance underwriting.
20. Distribution method and object
The bonds are issued in the form of inquiry to offline professional investors and placement according to bookkeeping and filing. The issuing objects are professional investors holding A-share securities accounts of China Securities Depository and Clearing Co., Ltd. Shenzhen Branch (except buyers prohibited by laws and regulations). After the bonds are listed, investor suitability management will be implemented, and only professional investors can participate in the transaction. The transaction subscribed or purchased by ordinary investors is invalid. The source of subscription funds of professional investors must comply with the relevant provisions of the state.
21. Placement arrangement to shareholders of the company
The bonds will not be placed preferentially to the shareholders of the company.
22. Listed trading places
Shenzhen Stock Exchange.
23. Purpose of raised funds
The funds raised from the issuance of corporate bonds in the current period, after deducting relevant issuance expenses, shall be used to repay the company’s due debts and supplement the company’s working capital. Among them, the debts repaid by the company include corporate bonds due in September 2020
Bonds (bond abbreviation: 15 Xizheng 02; bond Code: 112283) and subordinated bonds due in December 2020 (bond abbreviation: 15 Xizheng 01; bond Code: 118941). Among the net funds raised by the bonds, the funds raised by the company for debt repayment
