Group 1 - The report indicates that the convertible bond market is currently experiencing high valuations in the short term, but remains optimistic for the medium term [8][6] - The report highlights that the equity market has risen for four consecutive weeks, leading to a significant increase in convertible bonds, although the extent of this rise has slightly exceeded expectations [8][5] - The report notes that the current market focus is on the financial and technology sectors, with a positive outlook for these areas despite potential short-term corrections [8][5] Group 2 - The report provides a review of the convertible bond market, stating that the bonds continue to follow the upward trend of equities, with significant trading volume reaching 70.669 billion [14][12] - It mentions that the China Securities Convertible Bond Index increased by 0.67%, and the parity center rose by 2.1% to 104.2 yuan, while the conversion premium rate decreased by 0.2% to 22.8% [14][15] - The report emphasizes that high-priced, low-rated, and small-cap convertible bonds have outperformed, while high-rated bonds have shown relative weakness [14][12]