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16 Huazheng 01: Debang Securities Co., Ltd.'s Report on the Provisional Trust Management of Huaxin Securities Co., Ltd.

Time: January 9, 2020 23:01:39 Zhongcai
Original Title: 16 Huazheng 01 : Debang Securities Co., Ltd.'s Interim Trustee Management Report About Huaxin Securities Co., Ltd.'s Accumulative New Borrowing Over That Year's Net Assets At The End Of The Last Year


Bond abbreviation: 16 Huazheng 01 Bond code: 136171.SH
Debang Securities Co., Ltd.'s interim trustee management report on Huaxin Securities Co., Ltd.'s cumulative new borrowing for the year exceeding 40% of the net assets at the end of the previous year. Trustee: Debang Securities Co., Ltd.
January 9, 2020

Interim Trustee Management Report on Huaxin Securities Co., Ltd.'s accumulated new borrowings in that year exceeding 40% of the net assets at the end of the previous year
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Important Statement This report is based on the “Administrative Measures for the Issuance and Transaction of Corporate Bonds ”, “Huaxin Securities Co., Ltd. 2016 Corporate Bonds (Phase 1) Prospectus” (hereinafter referred to as “Prospectus”), “ Corporate Bonds” Securities Trustees' Code of Conduct, Huaxin Securities Co., Ltd.'s 2016 Bond Trust Management Agreement for the Public Issuance of Corporate Bonds to Qualified Investors (hereinafter referred to as the "Trusted Management Agreement"), third-party intermediaries Professional opinion, Huaxin Securities Co., Ltd. (hereinafter referred to as "Huaxin Securities", "Company"
Or "issuer"), relevant public information disclosure documents such as relevant information, explanatory documents,
Prepared by Debang Securities Co., Ltd. (hereinafter referred to as "Debang Securities"), the trustee of the corporate bonds .

This report does not constitute a recommendation for investors to perform or not to perform certain actions. Investors should make independent judgments on related matters, and should not use any content in this report as a commitment or statement made by Debon Securities. Under no circumstances may it be used for any other purpose without the written permission of Debon Securities.


Interim Trustee Management Report on Huaxin Securities Co., Ltd.'s accumulated new borrowings in that year exceeding 40% of the net assets at the end of the previous year
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Huaxin Securities Co., Ltd. issued Huaxin Securities Co., Ltd. on January 21, 2016
2016 corporate bonds (first instalment) (referred to as "16 Huazheng 01", bond code "136171.SH"),
Debon Securities acts as Trustee. As of now, the bonds are still in existence.

As of December 31, 2019, the issuer's cumulative new borrowing for the year exceeded 40% of the net assets at the end of the previous year.
Details are as follows:
I. Overview of main financial data As of the end of 2018, the audited consolidated assets of the issuer were 5.062 billion yuan, and the balance of borrowings was 3.527 billion yuan. As of the end of December 2019, the company's borrowing balance was 5.837 billion yuan, and the cumulative new borrowing amount was 2.310 billion yuan. The cumulative new borrowing accounted for 45.63% of the audited net assets at the end of the previous year (that is, the end of 2018), exceeding 40%.

2. Disclosure of New Borrowings (I) Bank loans are not applicable.

(II) Corporate bonds, corporate bonds , financial bonds, and non-financial corporate debt financing instruments As of December 31, 2019, bonds issued by issuers (including publicly issued corporate bonds ,
Non-public issuance of corporate bonds , subordinated bonds, etc.) The balance increased by 1.084 billion yuan compared with the end of 2018, and the amount of change accounted for 21.41% of the net assets at the end of the previous year. Mainly due to the issue of corporate bonds .

(3) Entrusted loans, finance lease loans, and small loans are not applicable.

(IV) Other loans As of December 31, 2019, the balance of other loans of the issuer increased by 12.26 compared with the end of 2018
100 million yuan, the amount of change accounted for 24.22% of the net assets at the end of the previous year, mainly because the balance of income vouchers increased by 946 million yuan,
The accumulative new borrowings of Liangrong's income right transfer financing totaled 480 million yuan, and subordinated debt decreased by 200 million yuan.

3. The impact of the new borrowings on the solvency of this year The issuer's new borrowings mentioned above comply with the relevant laws and regulations and belong to the company's normal operating activities.

The company's financial status is stable. At present, all debts are repayable on time, and the above-mentioned new borrowings will not adversely affect the company's operating conditions and solvency. The above financial data are not available except for the data at the end of 2018.

Interim Trustee Management Report on Huaxin Securities Co., Ltd.'s accumulated new borrowings in that year exceeding 40% of the net assets at the end of the previous year
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After auditing, investors are reminded. The trustee will perform the information disclosure obligations in a timely manner based on the progress of related matters.

As a bond trustee of "16 Huazhen 01", Debon Securities required to issue this interim trusteeship management report in accordance with Articles 11 and 17 of the Code of Conduct for Corporate Bond Trustees. Debang Securities will follow closely the issuer's issue of the repayment of the principal and interest of the bonds and other matters that have a significant impact on bondholders, and strictly follow the "Code of Conduct for Corporate Bond Trustees' Practice," "Trusted Management Agreement"
And other provisions or agreements to perform the duties of a bond trustee.

Investors are hereby reminded to pay attention to the risks associated with the bonds and investors are requested to make independent judgments on relevant matters.

(No text below)

Interim Trustee Management Report on Huaxin Securities Co., Ltd.'s accumulated new borrowings in that year exceeding 40% of the net assets at the end of the previous year
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(This page has no text and is the printed page of the "Debang Securities Co., Ltd.'s Report on the Interim Trustee Management Affairs of Huaxin Securities Co., Ltd.'s Accumulated New Borrowing in That Year Exceeding 40% of the End of the Last Year's Net Assets")
Debang Securities Co., Ltd.
January 9, 2020

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