This year's few big meat sticks are coming! Not only is the "appearance value" high, but it is also expected to achieve "five in one".
On February 24, Huayou Convertible Bond and Tong 22 Convertible Bond launched subscription. These two targets are more special, and they are the two largest individual bonds issued in non-financial varieties so far. Among them, Tong 22 convertible bonds are the second variety of bonds issued by photovoltaic giant Tongwei Shares, with a scale of up to 12 billion yuan; Huayou convertible bonds are the first convertible bonds issued by Huayou Cobalt, a leading enterprise in the new energy battery track, with a scale of up to 7.6 billion yuan.
Overall, the two issuers are the leading companies in the new energy track, which can be described as full of highlights. The agency estimates that the two convertible bonds are likely to reach the "one in five" or even higher winning rate.
"Meat sticks" hit new days
"If you miss it, it will be difficult to have such a good opportunity in the next six months." A new professional account with convertible bonds reminded reporters.
On the 24th, Huayou Convertible Bond and Tong 22 Convertible Bond launched online subscription. According to the agency's calculations, the winning rate of the new lottery is above the "ten thousand two", that is, above the "five in one" level.
Through the 22 convertible bond rating AA+, the institution predicted the bottom of the debt 92 yuan; Huayou convertible bond rating AA+, the institutional forecast debt bottom of 91 yuan.
Not only is the debt floor high, but the winning rate is not low, which will also greatly increase the enthusiasm of investors to participate. Since the beginning of this year, the new heat of convertible bonds has not decreased, and the "scale of issuance" is still a new winner and loser. Since the beginning of this year, there have only been 12 convertible bond issuances, which is not much. There is a clear trend that only the varieties with a winning rate of more than one in 10,000 are Long 22 convertible bonds with a scale of 7 billion yuan. The lowest was Sully's bond transfer, with a winning rate of 0.0009%.
A winning rate of 1 in 10,000 means one out of ten households. Below this key value, there must be dozens of accounts to guarantee winning the lottery. This is obviously out of reach for the average investor.
Tongwei Co., Ltd. is mainly engaged in the research and development, production and sales of aquatic feed, livestock and poultry feed, as well as the research and development, production and sales of high-purity crystalline silicon, solar cells and other products.
In terms of performance, the growth rate of total operating income and net profit is good, and the increase in net profit is much greater than the increase in revenue. The current dynamic P/E ratio is 23.58 times, the price-to-book ratio is 5.16 times, and the valuation is acceptable.
The issued Tong 22 convertible bonds were preferentially placed to the original shareholders, and the convertible bonds of 2.6650 yuan per share could be placed. This is the "benefit" of Tongwei shares to the original investors - according to the number of shares held, the corresponding convertible bonds are placed, and the number of shares required for the placement of 10 shares is 376 shares. According to the current price of Tongwei shares, the market value of the stock held by it is about 16,200 yuan, and it can secure a "signature".
As for the probability of winning the lottery for online investors, it can also be greatly improved due to the large scale of the offering. Referring to the convertible bonds issued by LONGi shares in January - Long 22 convertible bonds, we can speculate on the winning rate of the Tong 22 convertible bonds.
The scale of convertible bonds issued by LONGi shares is 7 billion yuan, and the probability of winning the single account top subscription is 23.8%. So now the scale of convertible bonds issued by Tongwei shares is 12 billion yuan, and about one of the three accounts will be signed.
In general, the scale of convertible bonds issued by small and medium-cap stocks is generally small, and the winning rate is very low. Although, in recent times, the number of convertible bonds issued has remained normalized, under the influence of the low winning rate, many shareholders have not won the lottery for a long time.
The Tong 22 transfer bond gives the shareholders a chance to win the lottery with a high probability, and then gathers its transfer value, which should give the winning shareholders a long-awaited new "gift package".
In fact, for the original investors who hold Tongwei shares, they not only enjoy the right of preferential placement, but also continue to participate in the online new, the real "icing on the cake".
However, there may also be some shareholders who are good at observation and find an opportunity to issue convertible bonds to the main stock once upside down. We can first look at the newly issued convertible bonds of Zhongtian Hardcover and Suli shares, etc., these stocks have a common feature, that is, on the day of their respective issuance of convertible bonds, the price of the main stock is falling.
One of the main reasons may be that the recent hot convertible bond market has attracted new investors to participate in the "ambush" of the stock in the early stage, in order to grab the right to place. When the placement is completed, as long as the yield participating in the placement can cover the decline of the main stock, the purpose of this time is completed, and then leave the market.
Therefore, the trend leading to these stocks will have a low opening action on the day of issuance and subscription. If this is consensus, then you can complete a reverse T operation. That is, the main stock is sold at the end of the trading day before the individual stock is issued to subscribe for convertible bonds, and then the next day is followed by a low price. For example, Zhongtian Hardcover opened 4.27% lower on the day of issuing convertible bonds, and finally closed down 7.44%, and the same situation also appeared in other stocks that issued convertible bonds.
Because the sharp low opening of individual stocks is bound to cause some original investors to panic and choose to continue to sell. Therefore, there is a high probability that a larger inverted T gain will be harvested.
【Live preview丨Technology & Finance, both hands must be grasped】
At 12:00 noon on Friday, February 25, the "One Fortune Knows" platform will continue to open a wonderful live class, which will be shared by Yan Dan, the host of CbN Radio, and Mr. Xu Shirong, chief investment adviser of Renmin Securities, with the theme of "Technology & Finance, Grasp both hands".
Author: Wang Ying
Editor: Zhang Tianyi
Producer: Wang Junji
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