Guotai Junan s agreement is the basic element and requirement of the repurchase transaction

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Initial Trading Date: The date on which the initial transaction was made; Repurchase Transaction Date: The date on which the repurchase transaction is made, and the number of days from the initial trading date shall not exceed 182 days.

Target**: meet the requirements of 1 marketable **, ** and bonds listed and traded on the Shanghai Stock Exchange at the same time; 2. Shanghai constituents of CSI 500 Index and CSI 300 Index, ETF index**, closed-ended**, SSE traded bonds; 3. Non-ST, *ST**; 4. The circulating market value shall not be less than 1.5 billion yuan; 5. The cumulative increase in the past three months shall not exceed 100%; 6. It does not belong to the laws and regulations restricting our company's prohibition of buying** (such as Haitong**, etc.); 7. It shall not be non-tradable shares, restricted tradable shares, and unrestricted stock shares held by individual investors; 8. The shares of the company held by shareholders holding more than 5% of the shares of the client, directors, supervisors or senior executives of listed companies shall not be held by shareholders holding more than 5% of the shares of the company (including those held in concert as persons acting in concert).

Initial Transaction Amount: The transaction amount negotiated by the investor to sell**, which is approximately 50% of the market capitalization.

Financing rate (repurchase**): Generally at the level of 9%-10%, adjusted according to changes in market interest rates.

Repurchase Transaction Amount: The transaction amount of the investor's repurchase** calculated based on the initial transaction amount, interest and fees during the period.

I hope that our Guotai Junan ** Shanghai Branch can satisfy you!

Personnel: Guotai Junan** Account Manager Manager Hong (employee number 009301).

Guotai Junan** - know that the enterprise platform is willing to serve you!

Hello, Guotai Junan ** Jiangxi Branch is happy to answer for you!

**There will be more restrictions on the initial stage of the agreed repurchase transaction, and the review conditions include account opening time, asset size, credit status, risk tolerance, etc., and the business is only open to institutional customers, and individual customers are not allowed to participate. To be eligible for a repo transaction, the underlying bond must be tradable shares and comply with certain regulations of the Exchange. According to the calculation of professionals, there are about 400 stocks that meet the requirements of the exchange, including the Shanghai Stock Exchange 50, SSE 180, CSI 500, CSI 300, etc., while ST class ** and pilot brokerages are excluded from the pledgeable varieties.

As for the most concerned borrowing costs, the source said that it is higher than the bank's loan interest rate in the same period, "At present, the preliminary repo rate is about 9%, which is basically the same as the interest rate of margin trading, and the interest is calculated according to the number of days borrowed." "In order to control risks, the loan term of ** agreed repurchase is shorter, and the longest loan period is not more than 182 days.

Hello, in response to your questions, Guotai Junan Shanghai Branch will give the following answers.

Agreed foreign exchange purchase refers to: the customer transfers the ** transaction to Guotai Junan, and agrees to transfer the transaction to Guotai Junan after a period of time. Therefore, theoretically speaking, the ** in this account is owned by the customer, and it is only financed from Guotai Junan through the agreed purchase of foreign exchange, and it is temporarily stored in the special account for Guotai Junan to repurchase.

If you still have any questions, please feel free to ask questions on the official website of Guotai Junan** Shanghai Branch or the Enterprise Knowledge Platform.

It is the special account for the agreed repurchase transaction, which is used by investors to mortgage for financing, and this part is in this special account for repurchase.

**Mortgage financing is called "micro-financing" in Guotai Junan**, and the term ranges from 7 days to 3 years.

Hello! In response to your questions, we have made the following detailed answers for you:

Sign the agreement: Investors who meet the business qualifications can apply, and after the company's review, both parties will sign the "Customer Agreement" and "Risk Disclosure Letter".

Negotiation to determine the transaction: The investor and our company negotiate to determine the elements of each transaction, and sign the "Transaction Agreement" corresponding to each transaction under the "Customer Agreement".

Initial Transaction Entrustment: The investor submits the entrustment on the initial trading day (T day) according to the signed "Transaction Agreement", ** the company declares, the transaction is confirmed by the exchange, and the investor obtains the funds on T+2 day.

Repurchase transaction entrustment: The investor submits the entrustment on the repurchase transaction date (T day) according to the signed "Transaction Agreement", the company declares, the transaction is confirmed by the exchange, and the investor obtains it on T+2 day.

I hope that our Guotai Junan ** Shanghai Branch can satisfy you!

Personnel: Guotai Junan** Account Manager Manager Hong (employee number 009301).

Guotai Junan** - know that the enterprise platform is willing to serve you!

Hello! In response to your questions, we have made the following detailed answers for you:

The product is mainly for institutional Zhenshiqin customers who hold circulating equity and have financing needs, and can revitalize the stock of circulating equity. Customer requirements: 1. The time designated by our company in the Shanghai A-share** account shall not be less than 6 months; 2. The total assets of the customer's account shall not be less than 5 million yuan; 3. During the pilot period, it is limited to institutional investors.

Compared with pledged financing, margin financing and securities lending, this product has the following advantages. High transaction efficiency: Reach the transaction on T day, and get the funds back on T+2 days.

High financing efficiency: On average, the available funds are about 50% of the market value.

Low financing cost: The financing cost is about 9%-10%, which is lower than pawn and trust financing.

There is no clear restriction on the flexible use of funds, and the funds can be withdrawn for production and operation, and they can also be used for investment;

Flexible trading: Customers can choose to repurchase in advance or deferred according to the arrangement of the use of funds in the company**.

I hope that our Guotai Junan ** Shanghai Branch can satisfy you!

Personnel: Guotai Junan**Account Manager Manager Hong (employee number 009301) Guotai Junan**——Know that the enterprise platform is willing to serve you!

Hello! In response to your questions, we have given you the following detailed answers to Zhen Shiqin:

Agreed repurchase transaction refers to the transaction in which the eligible customer sells the subject matter to the company designated by the customer in the agreed transaction, and agrees that the customer will repurchase the target from the company in accordance with another agreement at a certain date in the future, and the relevant rights and interests arising from the subject ** during the repurchase period will be transferred to the customer on the record date of the interest, except in the specified circumstances. Agreed repurchase is a kind of financing behavior pledged by the customer's freedom, and the integrated funds can be used for various purposes, such as trading, operation and production.

Guotai Junan** is eligible.

I hope that our Guotai Junan ** Shanghai Branch can satisfy you!

Personnel: Guotai Junan**Account Manager: Manager He (employee returns to lead worker number 011106) Guotai Junan**——Zhiyu Bidao Enterprise Platform is happy to serve you!

Hello! In response to your questions, we have made the following detailed answers for you:

Investors can repurchase the target in advance according to the actual capital arrangement, and control the financing cost independently. At the expiration of the transaction period, investors can also negotiate with the company to postpone the repurchase, but the total repurchase period after the extension shall not exceed 182 days. In the event of an early repurchase or deferred repurchase, the financing cost shall be calculated according to the actual repurchase period.

I hope that our Guotai Junan ** Shanghai Branch can satisfy you!

Personnel: Guotai Junan** financial manager Manager Luo.

Guotai Junan** - know that the enterprise platform is willing to serve you!

Hello, Guotai Junan ** Jiangxi Branch is happy to answer for you!

Yes, investors of Guotai Junan's agreed repurchase products can choose to repurchase in advance in the operation menu if they are in urgent need of funds.

Hello! In response to your questions, we have made the following detailed answers for you:

Agreed repurchase transaction refers to the transaction behavior in which the eligible customer sells the target to the company that specified the transaction by agreeing to sell the target to the company and agrees that the customer will repurchase the target from the company according to another agreement at a certain date in the future, except for the specified circumstances, the relevant rights and interests arising from the subject ** during the repurchase period will be transferred to the customer on the equity registration date, including the initial transaction and the repurchase transaction.

The investor negotiates the transaction and signs an agreement with the ** company Guotai Junan, and completes the transaction through the integrated business platform of the Shanghai Stock Exchange, and China Clearing Corporation provides clearing and settlement services.

I hope that our Guotai Junan ** Shanghai Branch can satisfy you!

Personnel: Guotai Junan** Account Manager Tu Manager.

Guotai Junan** - know that the enterprise platform is willing to serve you!

Hello! In response to your questions, we have made the following detailed answers for you:

Default: 1) The performance guarantee ratio of the transaction reaches or falls below the minimum value of 130%, and the investor does not repurchase in advance on the next trading day, nor does it provide performance guarantee for the new transaction as agreed; 2) According to the agreement, the company requires the investor to repurchase in advance, and the investor fails to repurchase on the specified date.

Liability for breach of contract: 1) The two parties may negotiate a date to carry out the repurchase transaction, but the investor must pay the liquidated damages during the default period, which shall be 3/10,000 of the initial transaction amount and accumulated on a daily basis until the investor performs the repurchase or the liability for breach of contract is discharged; 2) During the default period, if the performance guarantee ratio of the transaction reaches or falls below 110% of the termination value, or the transaction is not repurchased within 182 days after the expiration of the transaction, the repurchase transaction will be terminated, and the company has the right to dispose of the target and recover the funds.

I hope that our Guotai Junan ** Shanghai Branch can satisfy you!

Personnel: Guotai Junan** financial manager Manager Luo.

Guotai Junan** - know that the enterprise platform is willing to serve you!