Some investors blindly pursue high returns but also fall into high risks. Some people blindly pursue absolutely low-priced convertible bonds, but may buy them for a long time without moving. The low price is true, but which ones are more cost-effective and active? Today we pick three low-priced bonds to analyze.
Lanfan Convertible Bonds
Company Profile: Founded in 2002, Lanfan Medical Co. is a leading medical equipment company with a complete layout of low-value consumables and high-value consumables. The company has four divisions, namely: Protection Division, with medical gloves as the core, a complete layout of medical protection and epidemic prevention products; Cardiovascular Division, with cardiac stents as the core, a complete layout of interventional devices; Surgical Division, with anastomoses and ultrasonic knives as the core, a complete layout of minimally invasive surgical equipment; and Nursing Division, with first aid kits as the core, a complete layout of first aid nursing consumables.
Pre-primary price fluctuation analysis: the recent highest price of about 115 yuan, the lowest price of about 98 yuan, the historical high price of about 220 yuan. 2020 convertible bonds listed, it is because the company's production of medical gloves, a big profit, so the share price rose. But in 2021, the company's net profit is less than 100 million. It is mainly because the company's stent business is affected by centralized purchasing and glove price reduction, resulting in reduced profits. Losses in the first quarter of this year, making the price of convertible bonds fell from more than 200 yuan to 100 yuan.
Convertible bond analysis: convertible bond credit rating of AA, rating is average; remaining size of 1.5215 billion; redemption price of 108 yuan; discounted value of 48.96, the premium rate of up to 106.18%; the next terms are 15/30, 85%, very strict.
Aftermarket: the redemption price at maturity is much higher than the market price of convertible bonds, but there are still 4 years to maturity. The company has enough cash flow on its books to pay off its debt, but it has developed a high level of credibility due to the large number of assets it acquired in the early stages. There has not been much profit in recent years, although the company has the idea of not repaying the debt. However, due to the high proportion of pledges by the major shareholders, a downward correction would have a certain impact on the share price. Multiple sets of bonds in the previous period, it is difficult to see a large increase in the share price within a year. Short-term correction is not expected, you can light investment, but not suitable for heavy positions. Generally only lose time, not money. In the long run, there is still a high probability of achieving strong redemption.
Purple Silver Convertible Bonds
Company Profile: Zijin Agricultural and Commercial Bank is a joint-stock rural commercial bank approved by the China Banking Regulatory Commission (CBRC) and formed by four rural small and medium-sized financial institutions in Nanjing*** together. Founded in 2011, it is headquartered in Nanjing, Jiangsu Province. Its enterprises are mainly engaged in financial services.
Pre-prime price fluctuation analysis: the recent high price of about 108 yuan, the lowest price of about 103 yuan, the historical high price of about 115 yuan. Since the listing of convertible bonds, the price fluctuation is extremely small, and the recent period is mainly a shock market. The volatility of bank stocks is relatively small, so the price fluctuation of the convertible bond market is also small.
Convertible bond analysis: convertible bond credit rating is AA, high rating; remaining size is 4,499.5 million; 110 yuan redemption price; discounted value of 74.32, premium rate of 39.35%; the next terms are 15/30, 80%, very strict.
Aftermarket: another bank tranche. Not my favorite type, because the volatility is small, and the general holding return will not be high. Positive stock fundamentals are also relatively general, there is no concept of speculation. They are only suitable as defense markers, and may follow the rise when the big bull market comes. Usually there is not much chance of performance, and investment is not recommended.
European convertible bonds
Pre-primary price volatility analysis: the recent high price of about 117 yuan, the lowest price of about 103.5 yuan, the historical high price of about 141 yuan. Convertible bonds listed at the beginning of the high price, part of the speculation. After th
Related Q&A: when the blue sail convertible bonds listedLanfan convertible bonds listed on May 28, 2020, the convertible bond winning rate is the largest ever prediction deviation, there is no one of a kind. There are only three main determinants of the winning rate: one is the placement rate of the original shareholders, another is the strength of the subscription, and the last is the size of the issue.
Because one shareholder and his concert party committed to participate in the placement, and the other also has the actual controller of the pledge action in recent days, so bite the bullet, has overestimated the placement rate, however, still did not fully appreciate the shareholders enthusiasm. Yesterday, two convertible bonds a $ Fleishman-Hillard convertible bonds (SH113035)$ placing rate is more than 90% (estimated value of 80%), the other placing rate is 73% (estimated value of 60%). OK! This deviation is considered 10%
Related Q&A: which securities company is good for convertible bonds?Which brokerage firm have I used that is good?
Which brokerage firm to choose for convertible bond lending doesn't make much difference. I've used a few brokers, the Oriental Wealth is relatively more convenient. The first is that Oriental Wealth has a one-click subscription function, so you don't have to click one by one when you are playing several convertible bonds in a day. The second is that Oriental Wealth's winning information is published earlier, usually the first night in the APP inside the display, while some securities companies have to wait for the next day to display during the day, such as, Huatai Securities.
How to open an account
If you haven't opened an account yet, it's easy to open an account with Oriental Wealth, and it takes a few minutes to do it on the APP.
The first step is to download the Oriental Wealth APP;
The second step is to open the APP and click on the account, as follows;
The third step is to enter the cell phone number and the verification code you received, and click on open account now;
The fourth step is to verify the identity, upload photos, and fill in personal data (name, ID number, address, occupation, etc.);
The third step is to enter the cell phone number and the verification code you received, and click on open account now. p>
Step five, video witness;
Step six, set the password for the digital certificate, install the certificate;
Step seven, select the shareholder account to be opened, set the transaction password and the funds password, and select the bank to be used as a tripartite depository.
After doing these operations, just wait for the audit to pass, usually one working day will be audited.