固定收益 | 固定收益定期 转债市场表现 本周转债市场收涨，其中中证转债上涨 2.14%，上证转债上涨 2.02%，深证 转债上涨 2.31%；万得可转债等权上涨 2.39%，万得可转债加权上涨 2.12%。 本周转债日均成交额有所增加。本周转债市场日均成交额为 806.74 亿元， 较上周日均增加 100.05 亿元，周内成交额合计 4033.71 亿元。 可转债周报 20250727 证券研究报告 北交所转债怎么看？ 转债周度专题 7 月 19 日，北交所首单转债获批——优机股份公告可转债获得证监会同意 注册；本周 7 月 23 日，北交所新增一单转债预案——盖世食品。截至 7 月 25 日，北交所共有 5 只转债预案。 北交所可转债相关规则主要是 2023 年 2 月 17 日修改发布的《北京证券交 易所上市公司向特定对象发行可转换公司债券业务细则》等。 对应看到，目前预案中的北交所转债均为定向可转债，且发行规模均在 1.5 亿元以内。而根据"业务细则"，北交所定向可转债通常不具备"下修条款"、 转股期结束前 10 个交易日暂停转让、有明确的 18 个月转股限售要求、不 赎回周期至少为 6 个月。此外， ...

Core Viewpoint - Convertible bonds are increasingly accepted and recognized in the market as a financing tool that balances equity and debt characteristics [1] Group 1: Company Announcements - Weibo Hydraulic plans to raise 100 million yuan through a private placement of convertible bonds for project construction and working capital [2][3] - The funds will be used for the development of high-end intelligent hydraulic power systems and core components, as well as the establishment of a research and development center [2] - The project aims to enhance production capacity, core competitiveness, and diversify product offerings, thereby increasing the company's resilience and profitability [2] Group 2: Market Trends - Weibo Hydraulic's announcement marks the third convertible bond refinancing project disclosed in the North Exchange this year, following announcements from Youji Co. and Wantong Hydraulic [3] - Youji Co. plans to raise 120 million yuan for technology upgrades and expansion projects, aligning with national industrial policies and enhancing market competitiveness [3] - Wantong Hydraulic aims to raise 150 million yuan, with a significant portion expected to be subscribed by Pangu Intelligent [4] Group 3: Industry Developments - The North Exchange is expanding its range of financing tools, including various types of bonds such as convertible bonds, green bonds, and bonds supporting rural revitalization [5] - The China Securities Regulatory Commission has emphasized the importance of developing the North Exchange to attract innovative small and medium-sized enterprises [5] - The North Exchange's convertible bond market is expected to grow rapidly, although its unique positioning may limit its overall market scale [6]

作为兼顾股性和债性的融资品种，可转债以其独特的优势，逐步受到市场主体的接受和认可。 4月26日，北交所上市公司威博液压披露可转债再融资预案，拟通过向特定对象发行可转换公司债券，募集资金 1亿元，用于项目建设和补充流动资金。据证券时报记者统计，威博液压披露的可转债再融资预案是继优机股 份、万通液压后，今年以来北交所市场披露的第三单可转债再融资项目。 年内3家北交所上市公司公布可转债发行预案 据威博液压的公告，公司此次拟通过向特定对象发行可转换公司债券，募集资金1亿元，用于高端智能液压动力 系统及核心部件、研发中心建设项目和补充流动资金。 威博液压主要从事液压动力单元及核心部件的研发、生产与销售，构建起以直流电机、交流电机、外啮合齿轮 泵、内啮合齿轮泵、溢流阀、缓冲阀等核心元件为主导的集成式液压动力单元产品体系。 公司表示，高端智能液压动力系统及核心部件项目将依托于公司现有生产场地、已有的技术基础及生产管理经 验，通过购置先进生产制造设备，以满足高端智能液压动力系统及核心部件生产的工艺及技术需求，项目建成 后，将提升公司高端产品的生产能力，增强公司核心竞争力，同时丰富公司产品种类，增加公司抗风险能力以 及盈利能力 ...