Core Viewpoint - Hangzhou Bank has announced the early redemption of its convertible bonds, indicating a potential further shrinkage in the scale of bank convertible bonds in China [1][7]. Group 1: Early Redemption Announcement - Hangzhou Bank triggered the conditional redemption clause for its convertible bonds (Hangyin Convertible Bonds) on May 26, as the stock price exceeded the conversion price for 15 trading days [3][5]. - The conversion price for the bonds is set at 11.35 CNY, while the stock price reached a new high of 16.02 CNY on May 27, resulting in a conversion premium rate of approximately -0.11% [1][3]. Group 2: Financial Implications - The early redemption allows Hangzhou Bank to utilize the funds to strengthen its capital base, enhancing its financial stability [1][7]. - The mechanism of forced redemption is designed to protect both the issuing company and investors, while also maintaining market stability [5]. Group 3: Market Trends - The market for bank convertible bonds has been declining, with several small and medium-sized banks opting for early redemption as their stock prices rise [7][10]. - Currently, there are only 10 types of bank convertible bonds remaining in the market, indicating a significant reduction in the overall scale of bank convertible bonds [8][9].