侃股：强制赎回可转债是双赢

Group 1 - The recent increase in the forced redemption ratio of convertible bonds has returned to around 70%, indicating that investors have made profits while companies have successfully raised funds, resulting in a win-win situation [1][2] - Convertible bonds serve as a financial instrument that combines characteristics of both bonds and stocks, facilitating a mutually beneficial relationship between investors and companies [1][2] - Investors benefit from convertible bonds by having the option to convert into equity during favorable market conditions, thus sharing in the company's performance and asset appreciation [1][2] Group 2 - For listed companies, convertible bonds are an effective financing tool, offering lower financing costs and minimal dilution of equity compared to traditional financing methods [2] - The issuance of convertible bonds allows companies to raise necessary funds for growth without immediately increasing equity pressure, thereby enhancing their capital structure and market competitiveness [2] - The rise in the forced redemption ratio reflects the healthy operation of market mechanisms, ensuring fair and efficient functioning of the convertible bond market [2]