September 8, Shanghai Composite Index opened low and fluctuated, closing at 3236 points, down 11 points, Shanghai Stock Exchange traded 328.7 billion yuan, 1,121 stocks in Shanghai and Shenzhen stock markets rose, and 3,547 fell. The convertible bond market transactions were 53.2 billion yuan, with 80 convertible bonds rising and 353 falling.
Since the subscription of Jiacheng convertible bonds on September 1, no new bonds have been issued for many days. Tonight, news finally came: Huaibei Mining issuing Huai22 convertible bonds on September 14. Huaibei Mining has issued Huai Mining convertible bonds before. In order to show the difference, the one issued this time is called Huai 22 convertible bonds. However, I really can't help but complain. The naming of convertible bonds in Shanghai is too difficult to pronounce and inconvenient. The numbers are sandwiched between Chinese characters, and it is difficult to write and read. It is as strange as Hong Kong people speak in English. It is not as simple and pleasant as the Shenzhen Stock Exchange 1 turn 2 turn 3 turn 3.
Huai 22 convertible bond issuance this time, with an initial conversion price of 15.17 yuan, and the current conversion value is 100.53 yuan. The allotment per share is 1.209 yuan, and the allotment of first-hand convertible bonds requires 828 shares of Huaibei Mining, which requires an investment of about 13,000 yuan. Individuals participate in the subscription and do not participate in the debt allocation . After
Huai 22 convertible bonds, many companies have recently approved the issuance of convertible bonds by the China Securities Regulatory Commission, including: Huitong Co., Ltd., Huahong Technology , Changshu Bank, Fangyuan Co., Ltd., Zaisheng Technology, Xinzhi Software, Songsheng Co., Ltd., Jinpan Technology, Dongjie Intelligence, Huiyun Titanium Industry, McGmitt , Tianci Materials , Changyuan Lithium Technology, Monte Hi-Tech, Jinwo Co., Ltd., Aikodi, Milkwei, Shangluo Electronics, Faben Information, Xingfa Group, Xinzhoubang , Huitian New Materials , Guangda Special Materials, Boshi Co., Ltd. Minhe Co., Ltd. will no longer issue convertible bonds because the issuance approval has expired.
Among the above listed companies, it is worth noting that Mengtai Hi-Tech , which plans to issue convertible bonds of 300 million yuan, is a small-cap convertible bond. Mengtai Hi-Tech mainly sells chemical fiber products, with mediocre themes, mediocre performance, and poor liquidity. The daily transaction volume has been hovering at 10 to 20 million yuan for a long time. Recently, Mengtai Hi-Tech suddenly became like a wild horse, fearing the influence of market sluggishness, and its stock price rose continuously, from 26.19 yuan on August 26 to 38.7 yuan today, an increase of 47.77%. The rise in the past two days was particularly fierce, closing up 12.5% yesterday and 9.72% today.
Mengtai Hi-Tech has not issued any positive announcements recently, and the chemical fiber sector it is located in has not risen sharply recently. After thinking about it, its rise may be related to the issuance of convertible bonds. Mengtai Hi-Tech announced the issuance of convertible bonds on August 26 and was approved by the China Securities Regulatory Commission. The share price of Mengtai Hi-Tech rose by 4.24% the next day from August 26. Subsequently, except for the slightly drop of 1.25% on August 31, all other trading days rose.
Today, Mengtai Hi-Tech was listed on the Dragon Tiger List . One of them bought five seats, Anxin Securities Meizhou Xinzhong Road Branch attracted my attention. On that day, this seat bought 6.0679 million yuan for Mengtai Hi-Tech and sold 76,000 yuan. I checked this seat again and thought that the transaction record was frequently seen on the convertible bonds Dragon and Tiger List. I have traded Northern Convertible Bonds, Fenglong Convertible Bonds, Yongdong Transfer 2, etc.
I suddenly understand, is this the new way to play hot money : quietly lurks stocks with poor liquidity, secretly pushing up the stock price, thereby pushing up the intrinsic value of convertible bonds. When the convertible bond is issued, due to its extremely high conversion value, it will inevitably attract many investors to participate in the bond allocation. This will not only sell the stocks to latecomers, but also participate in the bond allocation to earn money from the listing of convertible bonds, and be free to advance and retreat. Because stock liquidity is extremely poor, very little capital can achieve the goal.
As of today, the value of Mengtai Hi-Tech's conversion of shares has reached 129.34 yuan, and the equity of 100 yuan is about 8%. If the stock price continues to rise, as a small-cap convertible bond, the listing of Mengtai convertible bond is expected to go straight to 180 yuan. Mengtai Hi-Tech comes from Jieyang City , which belongs to Chaoshan District . Today, Mengtai Hi-Tech bought a seat from Chaoshan District. The Shantou Huashan Road Branch of Everbright Securities bought 40.9891 million yuan and sold 131,400 yuan.
It seems that Mengtai convertible bond is destined to be an extraordinary convertible bond. Mengtai Hi-Tech has appeared in my debt allocation target many times. I fell in love with its small market, but in the end I despise it and gave up on it because of its dismal liquidity. I didn’t expect it to soar recently. Judging from the recent trends of Mengtai Hi-Tech, the issuance of Mengtai convertible bonds is not far away.The situation is very similar to that of Mengtai Hi-Tech. Will Songsheng shares, which have poor liquidity in the underlying stock (the daily turnover is less than 20 million yuan) and have a small convertible bond issuance scale (294 million yuan), also be favored by hot money?
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1. Ruike convertible bonds announced that they will be listed on September 14. As of today's closing, the conversion is worth 82.5 yuan, and it is expected to be listed around 122 yuan.
2. Kao convertible bond announcement conversion price downward results, from 6.92 yuan to 4.48 yuan, downwards to the end. The current price of Kao convertible bonds is 116.959 yuan, which basically reflects the downward revision. I think the increase will not be large tomorrow, so it may increase by one or two points.
3. The result of the announcement of the downward revision of Asia Pharmaceutical convertible bonds is from 16.25 yuan to 8.5 yuan, and there is no downward revision to the end. The current price of Asia Pharmaceutical convertible bonds is 112.758 yuan, and the downward revision is basically reflected.
4. Northern convertible bonds announced that this time will not be forced to redeem, and will not be forced to redeem before March 8, 2023. Northern convertible bonds have weaker than those in stocks recently, and they are probably afraid of forced redemption. Now there is no forced redemption within half a year, and it is estimated that it will rebound a little tomorrow.
convertible bonds that are about to meet the conditions for forced redemption: Guiguang convertible bonds, Haibo convertible bonds, Jingyuan convertible bonds
$Mengtai Hi-Tech (SZ300876)$$Rike convertible bonds (SH118018)$$Kao convertible bonds (SH113595)$
convertible bonds that are about to meet the conditions for downward revision: Haomei convertible bonds, Youzu convertible bonds, Aodong convertible bonds, Weipai convertible bonds, Chongda transfer 2, Lezhi convertible bonds, Zhonglu convertible bonds, Jiayuan convertible bonds, Shanshi convertible bonds, Yongdong convertible bonds, Tiannai convertible bonds, Xinhai convertible bonds,
Special statement: The above is a record of my investment thoughts and is not an investment advice. Please do not invest accordingly, otherwise you will be responsible for your own losses. The data cited in the article may have errors and omissions, and are for reference only. Please announce the above-mentioned company. For the securities mentioned in the article, I may have holding and have a selling plan at any time. Do not blindly copy homework.
Author: Qian Liuliu
Self-media: Qian Gongzi Notes
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