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转债强赎频发,转债不转股亏惨
Huan Qiu Wang·2025-07-10 03:14

Group 1 - The A-share market is recovering, but the convertible bond market is facing challenges with frequent strong redemption alerts [1][3] - From July 10 to July 31, nine convertible bonds will have redemption registration dates, posing significant risks for holders who do not act in time [1] - For instance, the Jin Dan Convertible Bond and Tian Yang Convertible Bond could lead to losses of nearly 50% if not converted by the last operation day on July 10 [1][3] Group 2 - The strong redemption frequency is attributed to the continuous rise in stock prices of listed companies [1] - Tian Yang Technology's stock price has remained above 130% of the conversion price for 15 consecutive trading days, triggering conditional redemption clauses [1] - Investors have two options when facing strong redemption: sell the convertible bonds or convert them into stocks, with the latter changing the trading rules from "T+0" to "T+1" [3] Group 3 - Other convertible bonds like Nan Yin, Hua Feng, and Guan Sheng are also set to exit the market, with Guan Sheng Convertible Bond potentially leading to losses exceeding 50% if not acted upon [3] - The occurrence of strong redemptions serves as a reminder for investors to closely monitor announcements related to their holdings, especially as redemption registration dates approach [3]