The positive stocks rose nearly 10 times, and the convertible bonds rose nearly 6 times the year.

Today, the convertible bond market reappears a thousand yuan convertible bonds -the quarterly tenth of the quarterly charged bonds rose 1.43%today to close 1040.56 yuan. From a fundamental point of view, its positive shareholding quartz (SH603688, a stock price of 15.1.97 yuan, and a market value of 54.176 billion yuan) has risen by 141.72%this year, while the quartz convertible bonds were officially listed on November 22, 2019. The quartz convertible bonds closed at 164.68 yuan, soaring in one year to 1040.56 yuan on July 5 this year, the price was nearly 6 times.

In this regard, a well -known 10 billion private equity has interpreted the logic behind these 6 times the "divine debt".

The positive stock rose nearly 10 times, and the convertible bonds rose nearly 6 times the year

On the evening of June 17, the regulatory layer announced the new regulations for convertible bonds to prevent excessive speculation of the convertible bond market. Since July, the phenomenon similar to that of Yongji convertible bonds has no longer existed, and the convertible bond market has begun to calm down. However, today, the convertible bond market was born with the second thousand yuan convertible bonds -quartz convertible bonds rose 1.43%today to close 1040.56 yuan, and once rose to 1066.77 yuan.

It is understood that after the listing of quartz convertible bonds, like most other convertible bonds, the price has risen and the price has never exceeded 200 yuan. On July 5 last year, the quartz convertible bonds closed at 164.68 yuan; after April 27 this year, its performance was like breaking bamboo, soaring all the way to 1040.56 yuan on July 5 this year, the price was nearly 6 times. For more than two years since the listing, since the issue price has soared 100 yuan, the cumulative increase in quartz convertible bonds has increased by 966.77%.

It is worth noting that this round of performance of quartz convertible bonds is inseparable from the market performance of Zhengshi quartz shares. The quarter of quartz has risen over 141.7%this year, and the stock price of 23.35 yuan from one year ago (July 5, 2021), compared with 151.97 yuan today, increased by 550%within a year.

It is understood that the main product of quartz Co., Ltd. is high -purity quartz sand, which is the key original and auxiliary materials of the photovoltaic industry. The main force of this year's market rebound is a company that is mainly based on new energy sources. Since most of the high -purity ore in China is imported, high pure quartz sand is scarce. Under the current supply and demand pattern, the possibility of continuous price increases in high pure quartz sand. With the gradual release of the new production capacity of silicon materials in the second half of the year, it will drive the rapid rise in the demand for high -pure quartz sand in photovoltaic quartz. The possibility.

And reviewing the first thousand yuan convertible bonds on the convertible bond market, the British medical convertible bond issued by British Medical. At that time, due to the epidemic, the convertible bond was fired. On January 25, 2021, 3618.188 yuan was set on January 25, 2021. This record has not been broken so far. The reporter also noticed that after the quartz convertible bond, the closing price of China Mine Convertible today was also close to the thousand yuan mark, and today received 936 yuan.

Thousands of dollars convertible bonds refining: self -sufficient enough+industry development space is broad

Hu Pai, a underworld manager of Rongzhi Investment Fund, told reporters in WeChat on July 5 that a relative bull market has been recorded this year, especially the overall performance of the convertible bonds of small disks is significantly stronger than the large market convertible bonds Of course, it is really indispensable for the touches of money in the middle, but it is also closely related to the current market environment. The market overall shows the phenomenon of stocks and convertible debt linkages. From the current market, low -priced convertible bonds are almost very small, so the overall market shows an overheating phenomenon; at the same time, the transaction volume of convertible bonds has continued to reach new highs. The current fluctuations may contain certain risks, and investors are advised to take a relatively cautious attitude to treat convertible bonds.

Hubo told a reporter that convertible bonds actually increased the options that bonds could be converted into stocks. The quarterly of the quartz convertible bonds had a relatively large increase in this year, so the overall option value of the connotation of convertible bonds increased significantly. This is the most important reason why quartz convertible bonds rose sharply. For such a "high -price debt", the premium premium rate of its own stock may still be reasonable, so it may be more fluctuation risks of the ups and downs of the subject. This is a reasonable phenomenon, but throughout the scope of convertible bonds, there are still some small -cap stocks from the positive stocks and out of the independent market. The high premium rate of this convertible bond contains a certain risk.

He Weijian, director of the Research Department of Private Equity Yingfeng Capital Investment and the manager of convertible bond fund, told reporters on WeChat on July 5 that the value of convertible bonds can be used with pure debt value and the value of the conversion value. It comes to the significant increase in the value of the conversion, and the value of the conversion is determined by the performance of the stock price of the convertible bond. These "10 times convertible bonds" are not because the positive stocks have achieved an increase of 10 times, and the dazzling performance of the positive stocks comes from the driver of the company's performance. Whether it is Tencent and Moutai, which have increased by hundreds of times more than ten years, or dozens of times a year or two, British medical care, Chinese ore resources, etc. are due to the company's net profit in more than ten years or one or two years. Ten times, hundreds of times to thousands of times of growth, the significant increase in profits has driven the company's value to increase significantly, and then reflects dozens of times the increase in stock prices.

He Weijian also said that the stocks with dozens of times of increase are that the company itself is excellent enough, and the other is that the company's environment determines the development space and the speed of development.Without more than ten years of gold development in the Internet industry, there is no current Tencent; without the future of the development of new energy gold, there is no current Longji green energy and Ningde era ... We have worked hard to dig out the industry space in the convertible bonds from top to bottom.At the same time, the company that is more excellent in listed companies can judge the space of its stock price and the space of convertible bonds by analyzing its future development space.sex.In the industry with sufficient space and high prosperity, companies can significantly increase their winning percentage.Daily Economic News

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