China Resources SZITIC Trust Co., Ltd. published on July 13, 2026 the 70th monthly report for the 'Zhaoyin Hejia 2020-4 Residential Mortgage-Backed Securitization Trust,' covering the collection period from May 31, 2026 (exclusive) to June 30, 2026 (inclusive). The trust was established on September 25, 2020, with China Merchants Bank as the sponsor and China Resources SZITIC Trust as the trustee.

As of the end of the reporting period, the total outstanding principal balance of the asset pool was CNY 1.527 billion, comprising 4,569 mortgage loans. By status, performing loans accounted for 98.73% by number (98.21% by amount), loans delinquent 1-30 days 0.31%, 31-60 days 0.15%, 61-90 days 0.07%, 91-180 days 0.02%, and loans delinquent more than 180 days 0.72%.

The cumulative default rate remained at 0.793% from the prior period, and the serious delinquency rate also held at 0.032%. The historical series shows the cumulative default rate first rose above zero in the 12th period and gradually increased to 0.793% by the 68th period, staying flat for three consecutive periods.

On the securities side, the Class A2 notes repaid principal of CNY 25,900,240 and paid interest of CNY 2,080,666.47, with a coupon rate of 2.77% (based on a benchmark rate of 3.50% effective from January 19, 2026). The ending balance of Class A2 notes was CNY 887,990,570, with a principal repayment ratio of 66.2361%. Class A1 notes had been fully redeemed earlier, and the subordinated notes balance remained at CNY 557,921,559.97.

Cash flows: total revenue collections were approximately CNY 3.565 million, principal collections about CNY 24.662 million; expenditures included taxes of CNY 116,000, service fees of CNY 129,000, securities interest of about CNY 2.08 million, and principal payment of CNY 25.9 million.

The report confirmed no acceleration, default, perfection events, asset redemption, clean-up call, or other material events occurred, and no matters prejudicial to trust property or beneficiary interests were reported. The trustee received timely reports from the loan servicer China Merchants Bank and the custodian Bank of Ningbo.

Asset characteristics: the weighted average mortgage rate was 2.79%, weighted average remaining term 14.39 years, and weighted average seasoning 12.48 years. Credit enhancement: Class A2 notes accounted for 61.41% and subordinated notes 38.59%.