可转债周报（2026年1月12日至2026年1月16日）：本周有所上涨-20260117

Group 1: Market Conditions - From January 12 to January 16, 2026, the CSI Convertible Bond Index rose by +1.08% (last week's increase was +4.45%), and the CSI All-Share Index changed by +0.47% (last week's increase was +5.04%). Since 2026, the CSI Convertible Bond Index has risen by +5.57%, and the CSI All-Share Index has risen by +5.54% [1] - By bond rating, high-rated bonds (AAA), medium-high-rated bonds (AA+), medium-rated bonds (AA), medium-low-rated bonds (AA-), and low-rated bonds (AA- and below) rose by -1.17%, +0.45%, +0.90%, -0.01%, and -0.68% respectively this week, with medium-rated bonds having the highest increase [1] - By convertible bond scale, large-scale convertible bonds (bond balance > 2 billion yuan), medium-large-scale convertible bonds (balance between 1.5 and 2 billion yuan), medium-scale convertible bonds (balance between 1 and 1.5 billion yuan), small-medium-scale convertible bonds (balance between 0.5 and 1 billion yuan), and small-scale convertible bonds (balance < 0.5 billion yuan) rose by -1.14%, +2.24%, +1.78%, -0.57%, and -0.07% respectively this week, with medium-large-scale convertible bonds having the highest increase [2] - By conversion parity, ultra-high parity bonds (conversion value > 130 yuan), high parity bonds (conversion value between 120 and 130 yuan), medium-high parity bonds (conversion value between 110 and 120 yuan), medium parity bonds (conversion value between 100 and 110 yuan), medium-low parity bonds (conversion value between 90 and 100 yuan), low parity bonds (conversion value between 80 and 90 yuan), and ultra-low parity bonds (conversion value < 80 yuan) rose by -1.39%, -1.40%, -0.52%, +0.60%, +0.08%, -0.35%, and -0.97% respectively this week, with medium parity bonds having the highest increase [2] Group 2: Convertible Bond Price, Parity, and Conversion Premium Ratio - As of January 16, 2026, there were 396 outstanding convertible bonds (398 at the end of last week), with a balance of 548.444 billion yuan (551.501 billion yuan at the end of last week) [3] - The average convertible bond price was 137.71 yuan (137.03 yuan at the end of last week), with a percentile of 99.59% (from the beginning of 2023 to January 16, 2026) [3] - The average convertible bond parity was 106.52 yuan (104.54 yuan at the end of last week), with a percentile of 98.64% [3] - The average convertible bond conversion premium ratio was 33.01% (32.80% at the end of last week), with a percentile of 44.35% [3] Group 3: Convertible Bond Performance and Allocation Direction - The convertible bond market rose this week. Under the current supply-demand pattern of convertible bonds, the driving effect of the underlying stocks is expected to be strong, and the valuation may still have upward room. It is recommended to select bonds carefully, comprehensively judge based on convertible bond terms and underlying stock conditions, and pay attention to industries catalyzed by policies and industries with high prosperity [4] Group 4: Top 15 Convertible Bonds by Increase This Week | Rank | Convertible Bond Name | Underlying Stock Name | Industry | Latest Closing Price (Yuan) | Convertible Bond Increase (%) | Underlying Stock Increase (%) | | --- | --- | --- | --- | --- | --- | --- | | 1 | Jin05 Convertible Bond | Jinpan Technology | Power Equipment | 198.89 | 26.44 | 1.07 | | 2 | Huayi Convertible Bond | Feikang Haojing | Pharmaceutical Biology | 263.55 | 24.20 | 22.98 | | 3 | Dingjie Convertible Bond | Dingjie Shuzhi | Computer | 236.00 | 23.72 | 15.74 | | 4 | Haohan Convertible Bond | Haohan Shendu | Computer | 196.17 | 22.35 | 30.57 | | 5 | Jingce Zhuan2 | Jingce Electronics | Machinery and Equipment | 254.00 | 21.95 | 26.69 | | 6 | Weice Convertible Bond | Weice Technology | Electronics | 285.73 | 21.88 | 20.31 | | 7 | Taifu Convertible Bond | Taifu Quanye | Machinery and Equipment | 177.28 | 19.54 | 8.96 | | 8 | Jiaoxi Convertible Bond | Jiaoxi Electronics | Electronics | 246.66 | 19.06 | 24.43 | | 9 | Anji Convertible Bond | Anji Technology | Electronics | 294.89 | 18.21 | 12.69 | | 10 | Huicheng Convertible Bond | Huicheng Co., Ltd. | Electronics | 339.18 | 18.02 | 23.16 | | 11 | Dinglong Convertible Bond | Dinglong Co., Ltd. | Electronics | 278.71 | 17.35 | 6.95 | | 12 | Lanxiao Zhuan02 | Jianyuan Technology | Basic Chemicals | 179.47 | 16.92 | 9.06 | | 13 | Chaoda Convertible Bond | Chaoda Equipment | Automobile | 179.00 | 15.30 | 4.94 | | 14 | Dianhua Convertible Bond | Xiangtan Electrochemical | Power Equipment | 178.47 | 15.29 | -0.14 | | 15 | Jingda Convertible Bond | Jingda Co., Ltd. | Power Equipment | 530.61 | 14.35 | 4.55 | [17]