83 convertible bonds fell below their face value of 100 yuan, and a large number of individual convertible bonds may face rating downgrades.

Golden Ten data news on June 28th, the last trading day of the first half of 2024, the convertible bond market, which experienced a sudden big dump in the early stage, ended with a rebound at the close. Despite the consecutive four trading days of ‘stampede-style’ big dump on June 19th, June 20th, June 21st, and June 24th, the convertible bond market has rebounded since this Tuesday (June 25th). As of the close on June 28th, the CBRC index rose by 0.36%, with a cumulative increase of 0.46% this week; the convertible bond ETF index showed a similar trend, closing up by 0.19% today. After this round of ‘V’ shaped market, there are still many bonds trading below par value. As of the close on the 28th, 83 bonds are still priced below 100 yuan, with 14 bonds priced in the range of 100 yuan to 101 yuan, on the brink of falling below the 100 yuan face value level. Moreover, most of the low-priced bonds mentioned above are at low credit ratings.