又一批！最后交易日！请注意，转股！

Core Viewpoint - A significant number of convertible bonds are approaching their last trading day, with over 10 bonds expected to reach this milestone in December, leading to potential price suppression and risks related to forced redemption for investors [1][2][4]. Group 1: Convertible Bonds Overview - Multiple convertible bonds are entering their last trading day, including Hongfa Convertible Bond, Mingdian Convertible Bond 02, and Guocheng Convertible Bond on December 8, followed by others like Ying 19 Convertible Bond and Ceihui Convertible Bond on December 9 [2]. - The increase in convertible bonds reaching their last trading day is notable, with over 10 bonds expected to be affected in December [2]. Group 2: Redemption and Trading Dynamics - Convertible bonds may experience price suppression as they approach their last trading day, with many showing declines; for instance, Guocheng Convertible Bond and Limin Convertible Bond have seen cumulative declines exceeding 10% in December [4]. - The average price change for the convertible bonds entering their last trading day in December is -0.12%, with a median change of -0.65%, underperforming the overall market represented by the Zhongzheng Convertible Bond Index, which rose by 0.48% during the same period [4]. Group 3: Forced Redemption Risks - Forced redemption remains a primary exit strategy for convertible bonds, allowing companies to alleviate the burden of interest and principal repayment by encouraging bondholders to convert their bonds into shares [4]. - Investors must be cautious, as failure to convert or sell their bonds before the designated deadline may result in forced redemption at a price significantly lower than the market value, leading to potential losses exceeding 40% for those who purchased at a high premium [5].