Legal analysis: Corporate bonds refer to securities issued by companies according to legal procedures and promised to repay the principal and interest within a certain period of time. Corporate bonds are debt certificates issued by companies to bondholders. The main factors that determine the bond yield are coupon rate, maturity, face value and purchase price. The most basic bond yield calculation formula is: bond yield: (maturity principal and interest and-issue price)/(issue price multiplied by repayment period) multiplied by 100%.

Legal basis: Article 153 of the Company Law of People's Republic of China (PRC) The term "corporate bonds" as mentioned in this Law refers to the securities issued by the company according to legal procedures and agreed to repay the principal and interest within a certain period of time.

The issuance of corporate bonds by a company shall conform to the issuance conditions stipulated in the Securities Law of People's Republic of China (PRC).