follow信用和delisting风险 public sale可转债投资降温

Golden Ten data, as of August 1st, showed that the number of public sale funds investing in convertible bonds in the entire market was 2031, reaching a near four-year low; the cumulative Market Cap of public sale holdings of convertible bonds was 276.165 billion yuan, showing a clear downward trend. It is worth noting that in the past two months, there has been significant Fluctuation in the prices of some poorly qualified convertible bonds, and even rare occurrences of over a hundred convertible bonds falling below the face value of 100 yuan. Guotai Junan reminds that convertible bonds are still very good fixed-income enhancement tools in the future, but compared to the past, in the current market environment, some risk factors are more worthy of follow, such as delisting risk and credit risk. Therefore, convertible bond investment needs to carefully select the fundamentals and industries.