注意！不操作，最高或亏近50%！

Core Viewpoint - Several convertible bonds have announced plans for early redemption, with current secondary market prices significantly higher than the redemption prices, potentially leading to substantial losses for investors if they hold until forced redemption [1][7]. Group 1: Early Redemption Announcements - Kewah Data announced the early redemption of "Keshuzhuan Bond," stating that the stock price has met the conditions for redemption, with a forced redemption price of 100.32 yuan per bond [4]. - Nanshan Zhishang also announced the early redemption of "Zhishang Bond," with a forced redemption price of 100.38 yuan per bond [5]. - Zhongfu Bond has also triggered its conditional redemption clause, with a forced redemption price of 100.19 yuan per bond [5]. Group 2: Market Performance Context - The recent increase in early redemptions is a reflection of the strong performance of the convertible bond market over the past few months [6][10]. - The CSI Convertible Bond Index has risen for six consecutive months from September 2024 to February 2025, with an additional increase of 1.25% since March 2025 [11]. - Over 440 convertible bonds have risen in value since the beginning of 2025, with more than 80% of them experiencing price increases, including several bonds with gains exceeding 50% [12]. Group 3: Investor Considerations - Investors are advised to convert their bonds or sell them at an appropriate time to avoid losses due to forced redemption, as the current market prices for these bonds are significantly higher than the redemption prices [1][7][8]. - As of March 6, the secondary market prices for Keshuzhuan Bond, Zhishang Bond, and Zhongfu Bond were 189.1 yuan, 200.489 yuan, and 133.4 yuan per bond, respectively, indicating potential losses of 46.95%, 49.93%, and 24.90% if held until forced redemption [7].