Innovation-driven, with growth on multiple fronts—Bohai Bank’s investment banking business demonstrates strong momentum for high-quality development.

In 2025, Bohai Bank’s investment banking business closely focused on serving the real economy and regional development strategies. Powered by innovation, it achieved historic breakthroughs and a systematic upgrade across multiple business areas, including bond underwriting, capital markets, and distinctive leasing, among others. Its product portfolio continued to improve, its service capabilities rose significantly, and it injected strong new momentum into the bank’s high-quality development.

Bond underwriting leads innovation, providing full coverage to support industrial upgrading

Bohai Bank actively seized innovation opportunities in the bond market, proactively connected with industry association pilot policies, and built a diversified product matrix to accurately meet both national strategic needs and customers’ individualized demands. In 2025, the bank’s lead underwriting of various innovation-focused specialized products reached RMB 38.94B, a year-on-year increase of 93.84%. It achieved full coverage across all major categories of innovation-branded bonds, including Panda bonds, STAR Market innovation bonds, green bonds, carbon-neutral bonds, rural revitalization bonds, and asset-backed notes, among others. Its innovation service capability reached a new level.

During the year, Bohai Bank played a key role in multiple “first order” and “first batch” projects: it successfully participated in the underwriting of 5 all-market first-batch technology innovation bonds, including Tianjin Pharmaceutical and Bohai Chemical; and participated in the underwriting of the first batch of technology innovation bonds for private equity investment institutions across the entire market by Oriental Fuhai. It also took part in underwriting the first batch of pension-industry bonds across the entire market for Yiyang Health, supporting the “silver economy” with financial strength. Of particular note, as the first financial institution in Tianjin to successfully launch sovereign Panda bond underwriting business, the bank not only demonstrated its professional cross-border service capability, but also strongly supported the progress of RMB internationalization. A series of innovative practices fully reflects the bank’s firm determination to precisely empower technology innovation, private-sector businesses, green development, and improvements in people’s livelihoods with high-quality financial capital.

Deepening capital market business Product体系 achieves full coverage of key areas

In the capital markets business sector, Bohai Bank continued to work deeply, with both product richness and market competitiveness increasing in step. In 2025, its stock repurchase and shareholding-increase specialized loan business was carried out steadily. Throughout the year, it deployed 5 projects with a total amount of RMB 1.62B. According to relevant publicly available data, the scale of this business ranks sixth among 12 national joint-stock commercial banks, with a solid market position.

At the same time, product innovation achieved substantive breakthroughs: it successfully rolled out the bank’s first on-exchange equity pledge financing project (Sichuan Shuangma) and its first targeted convertible bond investment project (Huafa Shares), filling business gaps. By the end of 2025, Bohai Bank’s capital markets business has basically achieved full coverage of major key products, including on-exchange and off-exchange equity pledge, convertible bonds, exchange-traded corporate bonds, receivables financing, and employee equity incentive, among others. It is able to provide listed companies, as well as their shareholders and executives, with a package of integrated comprehensive financial service solutions.

Leasing featured benchmarks stand out A “three-in-one” innovation model leads

Bohai Bank has deeply integrated into the regional economy, and in the distinctive financial leasing sector, it has built a clear innovation benchmark. During the year, it successfully rolled out the bank’s first international accounts receivable financing service and the first fixed-asset loan under an aircraft leasing arrangement for the Tianjin Branch, deeply embedding itself into the leasing industrial ecosystem of the Dongjiang Bonded Port Area.

Even more impressive, the bank jointly released the first credit bond index nationwide for the dimension of the free trade pilot zones—“Tianjin Pilot Free Trade Zone Financial Innovation Financing Leasing Credit Bond Index”—and, in coordination with its wealth management subsidiary within the group, Bohai Financial Wealth, successfully launched the customized wealth management product “Zimao Rongzu 1 No. Fixed Income 3-Month Closed-End Wealth Management,” linked to this index, completing the fund-raising successfully in April 2025. This initiative pioneered a “three-in-one” financial innovation model of “index + product + regional industrial industry.” It not only enhances the leasing sector’s attention in Tianjin’s free trade zone and improves pricing transparency, but also enables investors to share the dividends from the growth of regionally advantaged industries, serving as a vivid example of high-quality development of regional featured industries through financial services.

Looking ahead, Bohai Bank will continue to adhere to the innovation-driven development strategy, further consolidate and expand its business highlights, and enrich its product and service system. With better-quality financial solutions, it will continue to empower the real economy and stride forward along the path of high-quality development.

(Editor: Wang Lei)

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