On March 7, the Shanghai Composite Index opened high and went low, **3027 points, **13 points, the Shanghai and Shenzhen markets traded 981.7 billion yuan, 1517 ***3662** in the two cities, 69 up limits, and 8 down limits. The turnover of the convertible bond market was 35.3 billion yuan, with 156 convertible bonds and 387 bonds**.
Today, the market is sharply **, and the general decline. It is not easy to make money like this, so the short-term and fast demon bonds have become the target of free capital, and the top 2 Yachuang convertible bonds and Admiralty convertible bonds on the list of today's rise are all demon bonds with small circulation and high premium rates. The old demon bond radio and television convertible bonds, profit convertible bonds also reacted a little, and another old demon bond Shenglu convertible bonds announced the downward revision of the stock price tonight, from 683 yuan was revised down to 675 yuan.
Shenglu convertible bonds will expire and be delisted in July, and the downward revision of the conversion price is of little significance, and there is no room for downward revision, and the downward revision is really redundant. The current price of Shenglu convertible bonds is 274601 yuan, the premium rate is 18417%, and the conversion value is only 9663 yuan, and the redemption price at maturity is 110 yuan. With the advent of the end of delisting, the ** of Shenglu convertible bonds will be reduced from 274601 yuan is approaching 110 yuan, and it is estimated that it will fall by more than half in the next few months. In the same situation, there are also Yokogawa convertible bonds due in July and radio and television convertible bonds due in June, both of which have the potential to fall by more than 50% in the next few months.
The first place on today's list of decliners is Furong convertible bonds, because the underlying stock Furong Technology opened 5 consecutive daily limits and fell 977% and follow **, which is expected. But the decline is at the top of the list.
Second, the third place Haishun convertible bonds, Wanshun convertible 2 both fell 6%, which made many investors feel puzzling. In fact, the reason is not complicated, Haishun convertible bonds announced last night that the proposal to revise the transfer price downward was not approved by the general meeting of shareholders; Wanshun to 2 last night announced that the stock price was transferred from 667 yuan revised down to 62 yuan, not repaired to the end. The investors who lurked in Haishun Convertible Bonds and Wanshun Zhuan 2 Bo were disappointed and sold one after another, which naturally triggered Haishun Convertible Bonds and Wanshun Zhuan 2 Stampede**.
It is good for the downward revision of the convertible bond to the stock price, but it is the company's right to revise it downward, and the company can choose to revise it downwards or not after meeting the conditions for downward revision; It is also the right of the company to reduce the conversion price, and the company can choose to revise it down to the minimum, or it can only be a symbolic downward revision of one or two cents. Therefore, there are multiple uncertainties in the downward revision.
In the process of downward revision, the board of directors first proposed a downward revision proposal, and then convened a general meeting of shareholders to vote on the proposal. I generally propose a downward revision by the board of directors of the latent game, and never participate in the game of the shareholders' meeting to revise to the end, because the downward revision is good when the board of directors proposes a downward revision proposal, the conversion of bonds has basically been reflected, and there is not much room for downward revision in the future, and once the downward revision is not in the end or even the downward revision is not passed, it is easy to cause a big fall, and the value rate is too low.
TomorrowXintian convertible bondsThe resumption of trading, which was previously suspended because the company planned to acquire the assets of Huilun Pharmaceutical Company. Huilun Pharmaceutical Co., Ltd. is a company owned by the actual controller of the company, and the acquisition is a related party transaction, and the benefits are limited. However, Xintian has been suspended for so long, and the first price has risen a lot during the suspension, and it stands to reason that it will be made up. It is estimated that tomorrow's Xintian Pharmaceutical daily limit, Xintian convertible bonds are expected to harvest 20cm daily limit, how much can it rise, or depends on tomorrow's market sentiment, Friday resumption is not a good time.
Huai 22 convertible bondsForced redemption is announced, and the date of forced redemption is to be determined. There is no premium for Huai 22 convertible bonds, and the market has expected forced redemption. Tomorrow isAo Dong convertible debtOn the last trading day, please note that you hold Aodong convertible bonds.
Aodong Convertible Bond (SZ127006)$ Shenglu Convertible Bond (SZ128041)$ Xintian Convertible Bond (SZ128091)$ Convertible Bond Convertible Bond Observation Convertible Bond Launch
Daily transaction information summary
Top 5 gainers on March 7 (excluding new bonds):
Yachuang convertible bonds, Admiralty convertible bonds, Pingmei convertible bonds, Heli convertible bonds, and Rayhoo convertible bonds.
Top 5 decliners on March 7:
Furong convertible bonds, Haishun convertible bonds, Wanshun convertible 2, Dongshi convertible bonds, Xianggang convertible bonds.
Top 5 in terms of turnover on March 7:
Furong convertible bonds, Yachuang convertible bonds, Daye convertible bonds, Xianggang convertible bonds, and Rayhoo convertible bonds.
Convertible bonds (underlying stocks) with a daily limit on March 7:
Shanghai Hugong. Convertible bonds (underlying stocks) with a fall limit on March 7:
Not. Convertible bonds (underlying stocks) on the Dragon and Tiger List on March 7:
Furong Technology. Top ETFs on March 7**:
*(518880), non-ferrous metals (512400). 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:
Jincheng convertible bonds, Guilun convertible bonds, and Zhaolu convertible bonds. (Follow-up observation, not brainless**, buying and selling points determine success or failure).
Convertible bond subscription, listing, forced redemption, maturity information:
The Aodong convertible bond is about to mature, and the last trading day is March 8.
The geotechnical convertible bonds are about to mature, and the last trading day is March 12.
Zhaolu convertible bonds for compulsory redemption, the last trading day is March 20.
Heilan convertible bonds are forcibly redeemed, and the last trading date is to be determined.
Huai 22 convertible bonds are forcibly redeemed, and the last trading date is to be determined.
Foreclosure countdown (may be triggered in the near future):
Daqin Convertible Debt, 14-15.
Cologne Convertible Bonds, 14-15.
Huicheng Convertible Bonds, 14-15.
Rainbow Convertible Bonds, 14-15.
Yonghe Convertible Bonds, 9-15.
Guilun Convertible Bonds, 9 15.
Hint: 13 15 means that it takes 15 trading days to meet the conditions for 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 and the issuance examination committee is approved by the listing committee and approved by the CSRC and approved by the registration of the issuance announcement.
It has been approved by the China Securities Regulatory Commission for issuance
Liyang Chips, Weiming Environmental Protection, Eurocom, Jusailon, Huakang Medical, Hongbai New Materials, Yanpai Shares, Yuanxin Industry, Jiayi Shares, Hunan Oil Pump, Songwon Shares, Jizhi Shares, Winbond Health, High-tech Development, O.R.G., Warner Pharmaceuticals. (The next convertible bond to be issued and subscribed will be generated from the list).
It has been approved by the Issuance Review Committee
Related New Materials, Tederic Machinery, Jujushun, Yuguang Gold and Lead, Fudan Microelectronics, Lingyi Intelligent Manufacturing, Zhenhua Shares, Aurisco, Huicheng Shares, Luokai Shares, Tianrun Dairy, Haoneng Shares, Guojian Group, 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, Yanpai Shares, Huakang Medical, Yuanxin Industry, Hunan Oil Pump, Ruilian New Materials, Luokai Shares, Xusheng Group.
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):
500 convertible bonds concept classification (dynamic update).
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 the loss. 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