又一批!最后交易日!请注意,转股!
证券时报·2025-12-08 15:26

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][4][6]. Group 1: Convertible Bonds Approaching Last Trading Day - Multiple convertible bonds are set to enter 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 [3][4]. - The total number of convertible bonds entering their last trading day in December is projected to exceed 10, indicating a trend of increased activity in this segment [4]. Group 2: Market Performance and Risks - Many convertible bonds have experienced price declines as they approach their last trading day, with Guocheng Convertible Bond and Limin Convertible Bond seeing cumulative declines of over 10% in December [6]. - 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 [6]. - Investors need to be cautious of forced redemption risks, as companies may opt for this route to alleviate the burden of interest and principal repayment, potentially leading to significant losses for those who do not act in time [6][7].