On December 5, Lidao convertible bonds were listed.
The issuance scale of Lidao convertible bonds is 30 billion, online scale 04.3 billion, pre-tax income of 330% with an A+ rating and * conversion value of 9877 yuan.
With a market value of less than 3 billion, Lidao New Materials is mainly engaged in aluminum deep processing business based on color-coated aluminum for the construction industry, color-coated aluminum for food packaging and finishing and cutting aluminum, and its products are widely used in building materials, food packaging, transportation, electronic appliances and other market fields.
In terms of performance, there was a bit of a recession, and in 2022, revenue and net profit will decline simultaneously, with revenue falling by 8% and net profit falling by 33% that year.
In the first three quarters of this year, revenue and net profit continued to decline, falling by 58% and 32%.
The company is too small and has no institutional coverage, with a rolling P/E ratio of 43 times at this stage, and the P/E ratio in the previous period was below 20 times most of the time.
Financially, the gearing ratio was 2527%, interest-bearing liabilities 21.5 billion, monetary funds of 19.7 billion, the capital is still abundant.
In the past two years, the company's gross profit margin has dropped to about 10%, and the net profit margin has also dropped to around 5%.
This time, the company issued convertible bonds to raise funds for the construction of an annual output of 860,000 tons of new energy battery current collector materials and other new aluminum projects (phase II), cut into the battery aluminum foil track, and then go to the new energy track volume.
The quality of the company is average, the financial aspect is not bad, and the main problem is the decline in performance.
The circulation scale of Lidao convertible bonds (Shanghai convertible bonds) is about 100 million, and the probability of speculation is high, and I am ready to watch the play on the first day, **157$3 is no problem.
Looking at today's Admiralty's bond swap situation, there is a high probability that the price limit will continue to rise on the second day, and it is expected to open on the third day.
1. List of convertible bond subscription and listing:
2. Estimate of the downward revision period of the convertible bond (calculated according to the downward revision):
3. List of Convertible Bonds Maturity and Forced Redemption:
4. The scumbag is good, and the profit yuan is converted into bonds and revised down to 45 yuan (the reserve price is 43.).49 yuan).
It exceeded the expectations of the market, but it was really not strong today, ** only around 109 yuan.
Based on the share price, the current conversion value is 876 yuan, the premium rate is 25%, I feel that giving 30% is not too much.
5. Shenghang convertible bonds were subscribed on December 6.
* It's still so sluggish, the national team is not coming, and today is another weight smashing day, with insurance, medicine, real estate, liquor, and food and beverage among the top decliners.
Now I feel that domestic capital has been selling, and ** funds are always in net outflow, why?
Because there are a lot of liquidations now, coupled with the continuous redemption of the people who were set on the high post in the past two years, this does not show that the institution is constantly selling.
At present, the Shanghai Composite Index and the CNI 2000 are stable, but the SSE 50, CSI 300, ChiNext and STAR 50 are all undergoing a double dip.
The national team has made a third shot, according to **report, the national team will continue ** this week**, overall I am not so pessimistic about this week**, the market ** appears at any time, continue to stay up.
*, the median fell more and rose less, and the median was slightly **012%, the money-making effect is slightly worse.
In terms of convertible bonds, the equal weight index of convertible bonds is **006%, including the convertible bond **index**0.16%。
Median for the day**119139 yuan, -0 from the previous trading day120 yuan, with a percentile of 62 since 201868%。
The median premium for the day was 3309%, +062%, with a percentile of 74 since 201828%。
The average double low of the day is 17302, +042, with a percentile of 6428%。
Today's convertible bonds are still relatively resistant, and it is difficult to maintain positive returns, and the three major strategies are all in the red.
The three-low strategy is the only one, and today once again refreshed a new high for the year.
Operationally, in the high-interest strategy, Fangyuan convertible bonds were rotated, and it was rotated into the hope to transfer 2 to the game for downward revision.
In the double-low strategy, all the Tianyuan convertible bonds were taken profit, and a position was opened near 110 yuan.
I also opened a small position in the Sanli Convertible Bonds, and I have eaten meat on the Sanli Convertible Bonds twice in a row recently.
Today, like this, in the boring **, constantly rubbing new highs.
The three major strategies performed today, and the double-low strategy **+001%, high interest strategy**+007%, three-low strategy**+0.32%。
So far in 2023, the double-low strategy is **+9.46%, high interest strategy**-0.71%, three-low strategy**+1499%。The strategy positions are displayed on Xueqiu.com.
The background color that is not in the list on the last trading day is marked yellow, and the double low value = ** + premium rate * 100%.
List of low premiums below 130 yuan:
High-interest list (junk bonds):
Low-scale list below 130 yuan:
Risk Warning: This article is purely the author's personal opinion, for your reference and communication only, and does not constitute investment adviceThere may be errors or omissions in the data cited in the article, please refer to the announcement of the listed company.