On January 9, the Shanghai Composite Index opened lower**, 2893 points, **6 points, the Shanghai and Shenzhen markets became 674.3 billion yuan, 3449 in the two cities, 1679 in the two cities, and 44 in the upper limit (33 in the previous trading day). The turnover of the convertible bond market was 41.5 billion yuan, with 388 convertible bonds ** and 152**.
Today's strongest is the tourism sector, Changbai Mountain, Dalian Shengya, Dalian Friendship, Longjiang Transportation, Eurasia Group, Zhongxing Commercial, Jiuhua Tourism, Zhejiang Natural Limit, Junting Hotel, Tianmu Lake rose more than 8%. I entered Changbai Mountain and Dalian Shengya before, but I only ran away after eating a limit and missed a big increase. Although I saw the potential of Northeast tourism concept stocks, I didn't expect the popularity of ice and snow tourism in Northeast China to last so long, and now there are still news dominance of interactive tourism in Northeast China, Guangxi, Yunnan and other places every day. Before the Spring Festival, there should still be opportunities in the tourism sector.
In addition to the tourism concept, the fireworks concept is also a main line worth paying attention to. Recently, there have been frequent calls for the relaxation of fireworks and firecrackers control, so that the New Year's flavor returns to the news, I have read a lot of announcements about fireworks and firecrackers, absolutely prohibiting fireworks, most of them are restricted, except for specific areas can not be fired, other areas can be fired, the control is more relaxed than in previous years. As a result, the demand for fireworks is likely to increase. Fireworks and firecrackers concept stocks mainly include ST Panda, Huatai, Cathay Pacific Group, Hengguang Shares, Red Star Development, Xinyu Guoke, etc., which have been active before, will there be a return to the pot?
ST Hongda all-day word board down limit, ** price 083 yuan, only 10.76 million yuan was traded throughout the day, and more than 100 million funds were trapped in it and wanted to sell itHongda's convertible bonds fell by 1127%** price 63 yuan. Last week, Hongda's convertible bonds once rushed to 982 yuan, close to halving in the blink of an eye, it really comes and goes in a hurry. ST Hongda is the 13th trading day ** share price is below 1 yuan, according to the regulations if the ** price is lower than 1 yuan for 20 consecutive trading days, and the convertible bonds are both delisted, is now in a very dangerous situation.
I made a **, showing the relationship between ST Hongda's rise and fall limit, if ST Hongda is still down tomorrow, ** price 079 yuan, then ST Hongda needs to continue to increase the limit from January 11 in order to return to 1 yuan on the 19th trading day. If tomorrow and the day after tomorrow are down limit, it will fall to 075 yuan, since then the continuous limit, ST Hongda can not return to 1 yuan. Therefore, tomorrow and the day after tomorrow are the life-and-death battles between ST Hongda and Hongda to convert debts.
Even if ST Hongda does not fall tomorrow and the day after tomorrow, if the company does not release the good disk, the panic funds will trample ST Hongda to death. In the past two days, ST Hongda has made a lot of announcements, but there is no good news, and it seems to be lying flat and accepting his fate. Personally, I think that Hongda's delisting is a high probability event, and whether it can survive depends on whether the company will make a big move at a critical moment.
In the history of A-shares, there are only two cases in which the convertible bonds were forcibly delisted, and the Hongda convertible bonds may be the third. The last trading price before the delisting of Sote convertible bonds was 18 yuan, and the last trading price before the delisting of Landun convertible bonds was 2693 yuan. Once Hongda convertible bonds are locked and delisted, the current ** of 63 yuan should not be able to be guaranteed.
Recently, Hongda convertible bonds have been very active, because there are quantitative funds playing in swings. It is not excluded that in the past two days, quantitative funds have pulled up the underlying stock to open the limit and arbitrage to convert bonds, but as long as the company does not release the shell, it will be short-lived after all. Sote Convertible Debt and Blue Shield Convertible Debt also struggled before dying, and finally lay down and carried away.
After the full registration system, the shell value of listed companies tends to be 0, the risk of delisting increases, and the number of stocks and convertible bonds is increasing, and there will inevitably be more delisting of convertible bonds in the future. I think that under the new normal, we should embrace more popular bonds with small premium rates and active transactions, stay away from low-priced problem bonds with delisting risks, and stay away from low-priced zombie bonds with high premium rates.
TomorrowDaye convertible debtOn the last trading day, please note the holders.
ST Hongda (SZ002002)$ Hongda Convertible Bonds(SZ128085)$ Daye Convertible Bonds(SH113535)$ Convertible Bonds
Daily transaction information summary
Top 5 gainers on January 9 (excluding new bonds):
Kao Convertible Bonds, Yokogawa Convertible Bonds, Fenglong Convertible Bonds, Profit Convertible Bonds, and Green Convertible Bonds.
Top 5 losers on January 9:
Hongda convertible bonds, Fuxin convertible bonds, Titan convertible bonds, Jingce convertible bonds, and Tianhao convertible bonds.
Top 5 by turnover on January 9:
Oujing convertible bonds, Kao convertible bonds, Hongda convertible bonds, Site convertible bonds, Fenglong convertible bonds.
Convertible bonds (underlying stocks) with a daily limit on January 9:
Fenglong shares, intelligent automatic control, green ecology, peacebird.
Convertible bonds (underlying stocks) with a falling limit on January 9:
ST Hongda. Convertible bonds (underlying stocks) on the Dragon and Tiger List on January 9:
Not. Top ETFs on January 9**:
Nikkei (513520), NASDAQ (513300), Travel (562510). ETF** is traded like **, you can buy and sell directly in the trading software, and it will be charged at **transaction rate, no stamp duty).
Personal Choice Observation Convertible Bonds:
Hongcheng convertible bonds, Zhaolu convertible bonds. (Follow-up observation, not brainless**, buying and selling points determine success or failure).
Convertible bond subscription, listing, forced redemption, maturity information:
Daye convertible bonds for compulsory redemption, the last trading day is January 10.
Highpower convertible bonds, listed on January 11.
Card double transfer 02, subscribed on January 11, the underlying stock card double billion.
Jiangyin's convertible bonds are about to expire, and the last trading day is January 23.
Wuxi convertible bonds are about to expire, and the last trading day is January 25.
Han's convertible bonds are about to mature, and the last trading day is February 1.
Sichuan Investment convertible bonds are forcibly redeemed, and the last trading date is to be determined.
Foreclosure countdown (may be triggered in the near future):
Dingsheng Convertible Bonds, 12-15.
Huayu Convertible Bonds, 11-15.
Pingmei Convertible Bonds, 11-15.
Fuxin Convertible Bonds, 9 15.
Hint: 13 15 means that it takes 15 trading days to meet the conditions of forced redemption, and 13 trading days have been met).
Reminder of the progress of the issuance of convertible bonds:The plan of the board of directors is approved by the general meeting of shareholders The CSRC is accepted by the exchange The issuance examination committee is approved by the Listing Committee The CSRC approves the registration and issuance announcement.
It has been approved by the China Securities Regulatory Commission for issuance
Chutian Technology, Longxing Chemical, Hengfeng Tools, Yuanxin Industry, Jiayi Shares, Hunan Oil Pump, Songwon Shares, Jizhi Shares, Winbond Health, High-tech Development, O.R.G., Yaoji Technology, Huana Pharmaceutical, Weikang Pharmaceutical. (The next convertible bond to be issued and subscribed will be generated from the list).
It has been approved by the Issuance Review Committee
Oulutong, Jusailong, Liyang Chips, Weiming Environmental Protection, Huakang Medical, Tianrun Dairy, Yanpai Shares, Haoneng Shares, Yifeng Pharmacy, Guojian Group, Hongbai New Materials, Wankai New Materials, Hebang Biotechnology, Xusheng Group. (The next step is to submit to the CSRC for approval).
**Weighting rate of more than 20% (dynamic change with stock price):Hebang Biotechnology, Wankai New Materials, Hongbai New Materials, Tianrun Dairy, Longxing Chemical, Yanpai Shares.
The proposed issuance scale is less than 400 million yuanJizhi shares (2.)5.5 billion), Jiayi shares (39.8 billion), Yuanxin Industry (28.7 billion), Weiming Environmental Protection (28.5 billion), Ju Sailong (2500 million).
Practical information query for debt conversion (click to read):
Concept classification of 500 convertible bonds (dynamically updated).
List of non-forcible redemption of convertible bonds (dynamically updated).
The circulation scale of the new convertible bonds and the date of lifting the ban (dynamically updated).
Special statement: The above is a record of my investment thoughts, not investment advice, please do not invest according to this, otherwise you will bear your own losses. There may be errors and omissions in the data cited in the article, which are for reference only, please refer to the announcement of the listed company. The ** mentioned in the article, I may have a position, and I have a sell plan at any time, so don't blindly copy the homework.
Author: Qian Liuliu
From**: Notes from the head of the money unit