操作不及时或将亏损近10% 权威精选 11月24日，是恒邦转债的最后交易日。恒邦转债11月21日收盘价为111.35元/张，如果投资者不及时操作，可能亏损近10%。此前，中金转债部分持有者就 因未及时操作导致亏损19%以上。 | < > | | 恒邦转债 | | | CG Q | | --- | --- | --- | --- | --- | --- | | | | 127086 T+0 ▼ | | | | | 111.350 >> | | 116.000 最高 | | 116.790 最低 111.280 | | | -473% -5.530 芯于 | | 15.7万 金额 | | 1.78亿 量比 1.30 | | | 昨收 116.880 外盘 | | 62656 内盘 | | 更多 94767 | | | 正股报价 12.48 -4.73% | | | | 转股溢价率 -0.16% > | | | 分时 | 五日 | 日Ｋ | 周Ｋ | 月Ｋ | 更多,◎ | | 122.480 | | | | 4.79% | | | | | | | | 盘口 资金 | | | | | | | 卖 1 111.350 ...

Core Points - The last trading day for Luokai Convertible Bonds and Chenfeng Convertible Bonds is November 17, 2025, with the final conversion day on November 20, 2025, urging investors to act promptly to avoid significant losses [4][8][13] - As of November 14, 2025, the closing prices for Luokai and Chenfeng Convertible Bonds were 130.140 CNY and 155.357 CNY respectively, indicating potential losses of over 23% and 35% if investors do not take timely action [13] - Luokai Convertible Bonds have a redemption price of 100.0384 CNY per bond, while Chenfeng Convertible Bonds have a redemption price of 100.6164 CNY per bond [7][11] Summary by Category Luokai Convertible Bonds - The last trading day is November 17, 2025, and the last conversion day is November 20, 2025, with a reminder for bondholders to sell or convert their bonds [4][8] - The closing price on November 14, 2025, was 130.140 CNY, with a potential loss exceeding 23% if not acted upon [13] - The redemption price is set at 100.0384 CNY per bond, with the redemption date on November 21, 2025 [7] Chenfeng Convertible Bonds - The last trading day is also November 17, 2025, and the last conversion day is November 20, 2025, urging investors to take necessary actions [9][12] - The closing price on November 14, 2025, was 155.357 CNY, indicating a potential loss of over 35% if investors do not act [13] - The redemption price is 100.6164 CNY per bond, with the redemption date on November 21, 2025 [11]

Core Viewpoint - The last trading day for Sheng24 Convertible Bond and Tongcheng Convertible Bond is November 10, with significant potential losses for investors who do not act in time [1][3][4]. Group 1: Important Dates and Actions - Investors are reminded that November 10 is the last trading day for Sheng24 Convertible Bond, and November 13 is the last conversion day [3][4]. - After November 13, unconverted Sheng24 Convertible Bonds will be frozen and cease trading, with a forced redemption price of 100.1677 CNY per bond [3][4]. - For Tongcheng Convertible Bond, the last trading day is also November 10, with a forced redemption price of 101.44 CNY per bond after November 13 [3][4]. Group 2: Financial Implications - As of November 7, the closing prices for Sheng24 and Tongcheng Convertible Bonds were 116.244 CNY and 125.413 CNY respectively, indicating potential losses of over 13% and 19% if investors do not act [4][5]. - There are still 344 million CNY and 113 million CNY of Sheng24 and Tongcheng Convertible Bonds respectively that have not been traded or converted, representing over 12% and 14% of the total [5]. Group 3: Redemption Mechanism - The forced redemption mechanism is triggered when the underlying stock price remains above 130% of the conversion price for at least 15 out of 30 trading days [5]. - Investors can either sell the convertible bonds or convert them into shares to avoid losses, with the conversion price set at 12.51 CNY per share for Sheng24 and 31.11 CNY per share for Tongcheng [3][5]. - New regulations require a "Z" identifier to be added to the security name on the last trading day, alerting investors to act promptly [5].

Core Points - The last trading day for Spring and Autumn Convertible Bonds is November 3, with a closing price of 143.264 CNY per bond on October 31, indicating a potential loss exceeding 29% for investors who do not act in time [1][3][5] - Investors are reminded that November 6 is the final conversion day, after which unconverted bonds will be frozen and cease trading [3][5] Summary by Sections Trading Information - As of October 31, the closing price of Spring and Autumn Convertible Bonds was 143.264 CNY per bond, with a maximum price of 146.000 CNY and a minimum of 141.904 CNY on the last trading day [2] - The bond has a conversion price of 10.50 CNY per share, and investors can choose to trade in the bond market until the close on November 3 [5] Redemption Mechanism - The company has the right to redeem the convertible bonds if the stock price meets certain conditions, specifically if the stock price is at least 130% of the conversion price for 15 out of 30 trading days [6] - If investors do not convert or sell their bonds by the deadline, they will be redeemed at a price of 101.701 CNY per bond, which includes the face value and accrued interest [5][6] Investor Actions - Investors have two options to avoid losses: sell the convertible bonds before the deadline or convert them into shares, noting that converted shares will follow different trading rules [6] - A new regulation indicates that the last trading day will be marked with a "Z" to alert investors of the impending deadline [6]

Core Viewpoint - The imminent redemption and trading cessation of Montai Convertible Bonds and New 23 Convertible Bonds pose significant risks for investors who fail to act promptly, potentially leading to substantial losses exceeding 29% and 23% respectively [1][9]. Group 1: Trading and Redemption Dates - October 24 is the last trading day for Montai Convertible Bonds and New 23 Convertible Bonds [2][5]. - October 29 is the final conversion day for these bonds, after which unconverted bonds will be frozen and cease trading [5][7]. Group 2: Current Bond Prices and Potential Losses - As of October 23, the closing prices for Montai Convertible Bonds and New 23 Convertible Bonds were 144.000 CNY and 131.254 CNY respectively [9]. - Investors who do not act in time may incur losses exceeding 29% for Montai Convertible Bonds and 23% for New 23 Convertible Bonds, based on their respective strong redemption prices [1][9]. Group 3: Conversion and Redemption Mechanism - Investors can convert Montai Convertible Bonds at a price of 23.47 CNY per share and New 23 Convertible Bonds at 50.75 CNY per share from October 24 to 29 [7][9]. - After October 29, unconverted bonds will be forcibly redeemed at a price of 101.19 CNY and 100.2192 CNY per bond, respectively, which includes accrued interest [7][9]. Group 4: Investor Actions and Risks - Investors are advised to either sell their convertible bonds or convert them into shares before the deadlines to avoid losses [11][12]. - The new regulations require a "Z" designation on the last trading day to alert investors of the risks associated with the bonds [12].

Core Viewpoint - The upcoming redemption and trading cessation of convertible bonds from Xue Rong, Ling Yi, and Jiu Zhou pose significant risks for investors who fail to act in time, potentially leading to substantial losses. Group 1: Trading and Redemption Dates - Xue Rong convertible bond will cease trading on October 9, with the last conversion date on October 14 [5][7] - Ling Yi convertible bond will stop trading on October 10, with the last conversion date on October 15 [7][10] - Jiu Zhou convertible bond will also stop trading on October 10, with the last conversion date on October 15 [10][11] Group 2: Current Prices and Potential Losses - As of September 30, the closing prices for Xue Rong, Ling Yi, and Jiu Zhou convertible bonds were 141.55 CNY, 176.82 CNY, and 124.11 CNY respectively [16] - If investors do not act, potential losses could exceed 28% for Xue Rong, 43% for Ling Yi, and 17% for Jiu Zhou [16] Group 3: Redemption Prices - Xue Rong convertible bond will be forcibly redeemed at 100.93 CNY per bond after the last trading day [7][10] - Ling Yi convertible bond will be forcibly redeemed at 100.181 CNY per bond after the last trading day [10][14] - Jiu Zhou convertible bond will be forcibly redeemed at 102.04 CNY per bond after the last trading day [10][13] Group 4: Investor Actions and Risks - Investors are advised to either sell their convertible bonds or convert them into shares before the deadlines to avoid losses [17] - The new regulations indicate that the last trading day will be marked with a "Z" to alert investors of the risks [17]

Core Viewpoint - The last trading day for the Hao 24 convertible bond is September 29, and investors who fail to act in time may face significant losses exceeding 61% due to forced redemption [2][4][7]. Group 1: Trading and Redemption Details - As of September 26, the closing price of the Hao 24 convertible bond was 258.223 CNY per bond, with a forced redemption price of 100.1945 CNY per bond after October 10 [4][7]. - Investors have until the close of trading on September 29 to sell or convert their bonds, with conversion available at a price of 6.33 CNY per share [7]. - There remains a balance of 0.52 billion CNY of the Hao 24 convertible bonds that have not yet been traded or converted, representing over 9% of the total [7]. Group 2: Forced Redemption Mechanism - The forced redemption of convertible bonds occurs when the underlying stock price meets specific criteria, allowing the issuing company to redeem unconverted bonds at a price slightly above face value [9]. - Investors are advised to either sell their convertible bonds or convert them into shares within the specified timeframe to avoid losses [9]. - New regulations require a "Z" designation on the last trading day of convertible bonds to alert investors of the associated risks [9].

Core Points - The last trading day for Sheyan Convertible Bond and Rongtai Convertible Bond is September 8, with significant potential losses for investors who do not act in time [1][2][3] - Investors are reminded to either sell or convert their bonds before the final trading day to avoid forced redemption at lower prices [2][3] Summary by Sections Trading and Redemption Information - Sheyan Convertible Bond and Rongtai Convertible Bond closed at 110.755 CNY and 165.439 CNY per bond respectively on September 5, with potential losses exceeding 8% and 38% if not acted upon [1][3] - The last trading day for Sheyan Convertible Bond is September 8, and the last conversion day is September 11, after which unconverted bonds will be frozen and redeemed at 101.25 CNY per bond [2][3] - Rongtai Convertible Bond has the same last trading and conversion dates, with a forced redemption price of 102.1713 CNY per bond [2] Other Convertible Bonds - Other convertible bonds such as Chongda Convertible Bond 2, Huahong Convertible Bond, Dayuan Convertible Bond, and Yaoshi Convertible Bond will also have their last trading days on September 11 and September 12 [3] - As of September 5, the closing prices for these bonds were 147.500 CNY, 136.000 CNY, 230.006 CNY, and 131.397 CNY respectively, with potential losses exceeding 32%, 25%, 56%, and 23% if not acted upon [3] Forced Redemption Mechanism - Forced redemption occurs when the stock price meets certain criteria, allowing the company to redeem unconverted bonds at a price slightly above face value [4] - Investors are advised to either sell their convertible bonds or convert them within the specified timeframe to avoid losses [4] - New regulations require a "Z" identifier for the last trading day of convertible bonds to alert investors of the associated risks [4]

Core Viewpoint - The last trading day for the Emergency Convertible Bond and Youzu Convertible Bond is August 22, with significant potential losses for investors who do not act in time [2][3][5]. Group 1: Important Dates and Actions - Investors are reminded that August 22 is the last trading day for both Emergency Convertible Bond and Youzu Convertible Bond, with August 27 being the final conversion day [3][5]. - After August 27, unconverted convertible bonds will be frozen and cease trading and conversion [3][4]. - The conversion prices for the Emergency Convertible Bond and Youzu Convertible Bond are set at 7.06 CNY/share and 10.10 CNY/share, respectively, during the conversion period from August 25 to 27 [3][4]. Group 2: Financial Implications - As of August 21, the closing prices for Emergency Convertible Bond and Youzu Convertible Bond were 126.099 CNY and 163.240 CNY per bond, respectively, indicating potential losses of over 20% and 37% if investors fail to act [5]. - There are still 143 million CNY and 59 million CNY of Emergency Convertible Bond and Youzu Convertible Bond, respectively, that have not been traded or converted, representing over 17% and 5% of their total [5]. - Other convertible bonds, including Hongfeng Convertible Bond, Haopeng Convertible Bond, and others, are also approaching their last trading days, with various balances remaining [5]. Group 3: Redemption Mechanism - The forced redemption of convertible bonds occurs when the underlying stock price exceeds 130% of the conversion price for at least 15 out of 30 trading days [7]. - Investors are advised to either sell the convertible bonds or convert them within the specified period to avoid losses, as the company will redeem unconverted bonds at a price slightly above face value [7]. - New regulations have introduced a "Z" identifier for the last trading day of convertible bonds to alert investors of the associated risks [7].

Core Viewpoint - The pace of convertible bond exits has accelerated significantly, with forced redemptions becoming the mainstream method of exit in the market [1][2][3]. Group 1: Market Trends - As of mid-August 2023, 91 convertible bonds have announced their exit, with 75 of these being early redemptions, surpassing the total for the entire year of 2024 [2][4]. - The number of forced redemptions in July reached 19, marking the second-highest monthly figure since 2021 [2]. - The proportion of convertible bonds exiting through forced redemptions and conversions has shifted from 96% in 2022 to 82% in 2024, while the proportion of maturity redemptions has increased to nearly 20% [3]. Group 2: Supply and Demand Dynamics - The total outstanding amount of convertible bonds as of August 17, 2023, is 646.016 billion, a decrease of 87.606 billion since the beginning of the year [4]. - The supply of convertible bonds is steadily increasing, with approvals for new issues significantly faster than last year, indicating a healthy pipeline for the remainder of the year [4]. - The "fixed income +" funds continue to play a crucial role in the demand for convertible bonds, with significant growth in fund sizes observed [4][5]. Group 3: Short-term Trading Opportunities - The convertible bond market is expected to remain active in the short term, driven by funds, but the sustainability of this trend depends on the stability of the equity market [6]. - The growth of convertible bond ETFs has become a core driver of the market, although there are concerns about potential volatility if the inflow of funds slows down [6]. - Despite the high valuations of some newly issued bonds, the overall market sentiment remains positive, supported by a "slow bull" market and the continued activity of small-cap stocks [6].