可转债策略周报：关注科技板块转债机会-20250610

Group 1 - The convertible bond market rose alongside the equity market, with the China Convertible Bond Index increasing by 1.08% to 433.92 points as of June 6, 2025 [1][11] - The A-share market saw the Shanghai Composite Index rise by 1.13% to 3,385.36 points, with significant gains in the communication, non-ferrous metals, electronics, and computer sectors [1][21] - The average price of convertible bonds increased slightly, with the Wind Convertible Bond Equal-Weighted Index rising by 1.56% to 207.40, indicating that current prices are above the historical 75th percentile since 2024 [2][25] Group 2 - The convertible bond premium rate fell to 45.96%, down 2.66% from the previous week, indicating that the valuation is below the 25th percentile of the historical range since 2024 [3][37] - High premium rates were observed in the textile, construction materials, food and beverage, pharmaceutical, and non-bank financial sectors, while lower rates were noted in media, banking, agriculture, and commercial trade sectors [3][41] - The pure bond premium rates were higher in the public utilities, mining, computer, national defense, and pharmaceutical sectors, while lower in commercial trade, steel, non-bank financials, food and beverage, and banking sectors [3][41] Group 3 - The total balance of listed convertible bonds was 673.17 billion, a decrease of 1.87 billion from the previous week, with a weighted average remaining term of 2.63 years [4][48] - There were no new convertible bonds listed or announced for issuance during the week, but one company, Shenglan Co., planned to issue convertible bonds worth 450 million [4][50] - Demand for convertible bonds remains strong among convertible bond funds, with the market value held by these funds reaching 174.97 billion, a 3.6% increase from the previous year [4][52]