线索摘要：1月28日，可转债板块异动，创维转债等个券涨幅均超10%

今日转债行情回顾

1月28日，可转债板块异动，创维转债等个券涨幅均超10%。转债不仅出现结构化行情，由于T+0交易，有些个券的换手率也令人咋舌。值得注意的是，10只个券换手率超过5倍，其中横河转债、新天转债、正元转债、广电转债、银河转债换手率分别达68.00、33.77、20.80、13.55、10.09。

可转债申购

“可转债的魅力在于：在安全保底的保单下，附送一张通往牛市的火车票根。请注意，不是高铁，是普快，但目的地肯定是一样的。在熊市里，它是火种；在牛市中，它是火焰。”——知名投资人 梁恩河

正股名称债券代码债券简称申购日期申购代码转股溢价率(%)申购上限(万元)正股价转股价转股价值债现价老股东优先配售

股权登记日老股东每股

配售额(元/股)发行规模(亿)中签号公布日中签率(%)上市公布日天奈科技

688116118005天奈转债2022-01-277181165.80100.00145.25153.6794.52100.002022-01-263.578.302022-01-280.0025华正新材

603186113639华正转债2022-01-2475418613.97100.0034.3039.0987.75100.002022-01-214.015.702022-01-280.0035豪美新材

002988127053豪美转债2022-01-2407298822.29100.0017.5921.5181.78100.002022-01-213.548.242022-01-280.0015新城市

300778123136城市转债2022-01-2137077816.69100.0018.1521.1885.69100.002022-01-203.684.602022-01-260.0005隆基股份

601012113053隆22转债2022-01-0578301217.89100.0070.1182.6584.83100.002022-01-041.2970.002022-01-110.0238博瑞医药

688166118004博瑞转债2022-01-0471816649.81100.0030.0035.6884.08125.962021-12-311.134.652022-01-100.00192022-01-25台华新材

603055113638台21转债2021-12-2975405548.98100.0014.2216.8784.29125.582021-12-280.696.002022-01-050.00222022-01-19台华新材

603055113525台华转债2021-12-29754055140.17100.0014.2216.8784.29202.442021-12-280.696.002022-01-050.00222022-01-19台华新材

603055113638台21转债2018-12-177540552.09100.0014.2211.56123.01125.582018-12-140.975.332018-12-210.42142019-01-09台华新材

603055113525台华转债2018-12-1775405564.57100.0014.2211.56123.01202.442018-12-140.975.332018-12-210.42142019-01-09泰林生物

300813123135泰林转债2021-12-2837081361.65100.0070.0087.3880.11129.502021-12-274.042.102022-01-040.00042022-01-14卡倍亿

300863123134卡倍转债2021-12-2737086361.50100.0075.1092.5081.19131.122021-12-245.052.792021-12-310.00052022-01-13兴业银行

601166113052兴业转债2021-12-2778316639.99100.0020.8825.5181.85114.582021-12-242.41500.002021-12-310.09862022-01-12贵州燃气

600903110084贵燃转债2021-12-2773390331.21100.009.0710.1789.18117.022021-12-240.8810.002021-12-310.00462022-01-14杭锅股份

002534127052杭锅转债2021-12-2407253438.55100.0027.3628.0897.44135.002021-12-231.5411.102021-12-300.00302022-01-21佩蒂股份

300673123133佩蒂转债2021-12-2237067345.67100.0017.2319.9286.50126.002021-12-212.847.202021-12-280.00132022-01-18华翔股份

603112113637华翔转债2021-12-2275411222.56100.0014.4212.99111.01136.052021-12-211.838.002021-12-280.00162022-01-18回盛生物

300871123132回盛转债2021-12-1737087146.61100.0024.7528.3287.39128.132021-12-164.217.002021-12-230.00222021-12-31甬金股份

603995113636甬金转债2021-12-1375499532.95100.0056.6253.07106.69141.842021-12-104.2910.002021-12-170.00152021-12-29旭升股份

603305113635升21转债2021-12-1075430545.59100.0043.1046.3792.95135.322021-12-093.0213.502021-12-160.00472021-12-28

数据来自:

可转债溢价率

可转债后市的表现，主要看正股的走势以及转债本身的溢价率；溢价率为负，则存在套利空间；折价必须至少有1%，才可以考虑套利，否则股价波动和手续费就磨平套利空间。溢价率为正，则没有套利空间。

若纯债溢价率越低，则可转债价格接近纯债价值，表现为债性，有较好的债底保护，同时股性较弱，上涨的弹性较低。反之可转债表现为股性，债底保护较弱而上涨弹性更足。

可转债总规模7968.11亿元，可关注溢价率为负可转债：19海亮E1(117133)，债券现价100.00元，今日成交额0.00万元，溢价率-20.18%；海亮转债(128081)，债券现价131.50元，今日成交额5460.59万元，溢价率11.78%；21天壕E2(117188)，债券现价100.00元，今日成交额0.00万元，溢价率-18.13%

正股名称债券代码债券简称溢价率(%)债券现价债券涨跌(%)正股价正股涨跌(%)PB转股价转股价值评级回售触发价

(回售起始日)赎回触发价转债余额/正股市值到期时间剩余年限成交额(万元)海亮股份

00220311713319海亮E1-20.18100.000.0011.400.352.119.10114.460.042022-04-260.240.00海亮股份

002203128081海亮转债11.78131.500.5411.400.352.119.69115.97AA6.78(2023-11-21)12.600.132025-11-213.825460.59天壕环境

30033211718821天壕E2-18.13100.000.009.820.312.498.04122.146.83(2024-02-29)10.450.012024-08-302.590.00天壕环境

300332123092天壕转债7.34203.090.299.820.312.495.19188.85A+3.63(2024-12-24)6.750.052026-12-244.917870.57奥瑞金

00270111714719原龙E3-15.53100.000.005.990.841.995.06111.130.002022-09-240.650.00奥瑞金

002701128096奥瑞转债-0.16132.900.535.990.841.994.50127.45AA+3.15(2024-02-11)5.850.042026-02-114.047135.66奥瑞金

00270111714619原龙E215.53100.000.005.990.841.996.9282.620.012022-09-060.610.00奥瑞金

00270111717020原龙E125.88100.000.005.990.841.997.5477.790.002023-08-051.520.00运达科技

30044011716220运达EB-5.98100.000.008.193.672.907.7068.8810.010.072023-05-261.320.00濮阳惠成

30048111717620奥城EB-4.64100.000.0023.492.133.6422.40103.9415.68(2023-04-28)29.120.042023-10-281.750.00双鹭药业

00203811715820新鹭E1-2.38102.000.009.770.621.899.3573.51AA6.54(2022-07-21)12.150.022023-01-210.980.00中鼎股份

000887127011中鼎转2-0.50173.40-5.8119.85-5.522.5611.3978.43AA7.97(2023-03-08)14.810.042016-02-11-5.9742250.67中鼎股份

000887127011中鼎转2-0.50173.40-5.8119.85-5.522.5611.39165.55AA+7.97(2023-03-08)14.810.042025-03-083.1142250.67同德化工

002360128103同德转债-0.09162.840.058.28-0.482.465.08155.35A+3.56(2024-03-26)6.600.022026-03-264.1612808.99东方财富

300059123111东财转30.07134.40-1.1831.36-1.417.9223.35111.68AA+16.34(2025-04-07)30.360.042027-04-075.19123312.56中国核电

601985113026核能转债0.23123.32-1.077.05-1.541.655.73111.55AAA4.01(2023-04-15)7.450.052025-04-153.2144872.16比音勒芬

002832128113比音转债0.27164.821.4924.001.104.4214.60161.07AA10.22(2024-06-15)18.980.022026-06-154.384199.70星帅尔

002860128094星帅转债0.90146.670.6120.06-0.353.4013.8083.86A+9.66(2024-01-16)17.940.042026-01-163.9714036.19华统股份

002840128106华统转债1.17174.921.5616.200.124.259.37107.14AA6.56(2024-04-10)12.180.052026-04-104.2029154.35鸿达兴业

002002128085鸿达转债2.91136.34-0.345.180.391.553.91130.15AA2.74(2023-12-16)5.080.022025-12-163.887385.11

数据来自:

公司提前强赎造成潜在损失

已触发或即将出发提前赎回条款的可转债，管理层很有可能提前赎回债券造成期权时间价值的损失。

今日有30只转债满足强赎天计数，10只公告是否执行强赎计划，临近强赎日存易造成期权时间价值的损失。比如中鼎转2(127011)正股30天内30天股价高于强赎触发价；中鼎转2(127011)正股30天内30天股价高于强赎触发价；齐翔转2(128128)正股30天内30天股价高于强赎触发价

正股名称债券代码债券简称强赎计数债券现价规模(亿)剩余规模(亿)转股起始日转股价强赎触发比(%)强赎触发价正股价中鼎股份

000887127011中鼎转2已公告提前赎回

或本期不赎回173.4012.009.192011-08-1111.39130.0014.8119.85中鼎股份

000887127011中鼎转2已公告提前赎回

或本期不赎回173.4012.009.192019-09-1611.39130.0014.8119.85齐翔腾达

002408128128齐翔转230/30175.2029.906.812014-10-275.69130.007.409.22齐翔腾达

002408128128齐翔转230/30175.2029.906.812021-02-265.69130.007.409.22金禾实业

002597128017金禾转债已公告提前赎回

或本期不赎回232.616.005.522018-08-0721.97130.0028.5640.95小康股份

601127113016小康转债30/30319.2615.002.072018-05-1116.96130.0022.0545.81太阳纸业

002078128029太阳转债已公告提前赎回

或本期不赎回164.7012.009.092018-06-288.45130.0010.9811.12艾华集团

603989113504艾华转债已公告提前赎回

或本期不赎回191.036.914.632018-09-1020.81130.0027.0533.94中国化学

60111713201418中化EB30/30167.0035.0014.892019-04-257.39130.009.6110.20万顺新材

300057123012万顺转债已公告提前赎回

或本期不赎回164.509.501.222019-01-285.27130.006.858.00万顺新材

300057123085万顺转2已公告提前赎回

或本期不赎回145.199.008.512021-06-176.20130.008.068.00利尔化学

002258128046利尔转债已公告提前赎回

或本期不赎回163.838.528.072019-04-2318.42130.0023.9528.76福能股份

600483110048福能转债30/30206.2728.3012.762019-06-147.85130.0010.2112.81钧达股份

002865128050钧达转债已公告提前赎回

或本期不赎回463.493.200.092019-06-1414.81130.0019.2566.05台华新材

603055113525台华转债已公告提前赎回

或本期不赎回202.445.331.852019-06-217.78130.0010.1114.22台华新材

603055113638台21转债已公告提前赎回

或本期不赎回125.586.006.002019-06-2116.87130.0021.9314.22伊力特

600197110055伊力转债已公告提前赎回

或本期不赎回185.598.762.442019-09-2316.41130.0021.3322.43长信科技

300088123022长信转债已公告提前赎回

或本期不赎回210.0012.302.562019-09-236.05130.007.8710.21长江电力

600900132018G三峡EB130/30139.19200.00159.762020-04-1316.74120.0020.0921.92鼎胜新材

603876113534鼎胜转债30/30279.4112.544.042019-10-1515.18130.0019.7335.70明泰铝业

601677113025明泰转债已公告提前赎回

或本期不赎回420.5918.3910.972019-10-1611.00130.0014.3041.60文灿股份

603348113537文灿转债30/30288.428.001.412019-12-1619.28130.0025.0646.85蓝晓科技

300487123027蓝晓转债已公告提前赎回

或本期不赎回368.433.401.072019-12-1729.02130.0037.7395.22荣晟环保

603165113541荣晟转债30/30154.123.301.632020-02-0310.84130.0014.0916.00英科医疗

300677123029英科转债已公告提前赎回

或本期不赎回1379.204.700.032020-02-245.55130.007.2152.86晶瑞电材

300655123031晶瑞转债已公告提前赎回

或本期不赎回380.001.850.532020-03-0510.13130.0013.1733.42金能科技

603113113545金能转债已公告提前赎回

或本期不赎回159.4415.009.872020-04-2010.43130.0013.5614.02石英股份

603688113548石英转债30/30386.963.601.202020-05-0614.93130.0019.4153.48常熟汽饰

603035113550常汽转债已公告提前赎回

或本期不赎回239.179.922.152020-05-229.33130.0012.1318.70华锋股份

002806128082华锋转债已公告提前赎回

或本期不赎回150.503.522.042020-06-109.13130.0011.8712.41

数据来自:

可转债回售

今日有2只转债满足回售天计数，比如17山高EB(132008)正股30天内30天股价低于回售触发价；17中油EB(132009)正股30天内30天股价低于回售触发价

正股名称债券代码债券简称回售计数债券现价规模(亿)剩余规模(亿)回售起始日转股价回售触发比(%)回售触发价正股价山东高速

60035013200817山高EB30/30105.9025.0025.002020-04-248.6470.006.055.31中国石油

60185713200917中油EB30/30104.60100.0099.182021-07-137.9370.005.555.02久其软件

002279128015久其转债20/30112.237.807.792021-06-086.9770.004.884.84模塑科技

000700127004模塑转债16/30164.118.141.312021-06-027.2470.005.074.87众信旅游

002707128022众信转债7/30119.927.004.552021-12-017.9270.005.546.88盈峰环境

00096711716720盈峰EB7/30106.565.005.002022-01-2010.6870.007.486.12众兴菌业

002772128026众兴转债6/30111.399.204.092021-12-1311.3670.007.957.55华安证券

60090913201619东创EB4/20105.001.501.402021-12-267.2870.005.105.01永东股份

002753128014永东转债3/30115.803.403.372021-04-1712.5270.008.768.70节能铁汉

300197123004铁汉转债2/30109.4011.008.032021-12-183.8270.002.672.67凯发电气

300407123014凯发转债0/30131.103.501.162021-07-278.0570.005.638.15洪涛股份

002325128013洪涛转债0/30119.0112.0010.612020-07-292.3170.001.622.58济川药业

600566110038济川转债0/30130.108.436.302020-11-1323.4050.0011.7023.82太阳纸业

002078128029太阳转债0/30164.7012.009.092020-12-228.4570.005.9211.12海印股份

000861127003海印转债0/30115.8911.116.742020-06-082.9970.002.092.74小康股份

601127113016小康转债0/30319.2615.002.072021-11-0616.9670.0011.8745.81新钢股份

60078213201719新钢EB0/30114.6020.008.102021-04-185.6960.003.415.57兄弟科技

002562128021兄弟转债0/30124.537.002.652021-11-285.1970.003.635.11雪迪龙

002658128033迪龙转债0/30125.005.202.982021-12-278.5670.005.997.84金禾实业

002597128017金禾转债0/30232.616.005.522021-11-0121.9770.0015.3840.95大族激光

00200811712719大族EB0/30106.336.406.402021-09-2847.8570.0033.4947.14节能国祯

300388123002国祯转债0/30118.235.972.522021-11-248.3670.005.857.16吉视传媒

601929113017吉视转债0/30123.2015.6011.352021-12-272.2370.001.562.30特一药业

002728128025特一转债0/30133.803.542.982021-12-0613.8070.009.6614.80嘉澳环保

603822113502嘉澳转债0/30144.791.851.842021-11-1044.6470.0031.2553.03天康生物

002100128030天康转债0/30200.1010.000.872021-12-227.4070.005.1810.64蓝帆医疗

00238211713719蓝帆E10/20100.003.003.002021-12-1917.3480.0013.8715.15亚太股份

002284128023亚太转债0/30130.3610.009.992021-12-0410.3470.007.249.36

数据来自:

转债品种大涨大跌原因分析

1、转债标的更多了，当时标的比较少，转债品种暴涨暴跌大家不太关注。近段时间来，一天会有10几只标的暴涨，就与转债标的增多有关系。

2、并非所有涨幅明显的可转债都在被非理性爆炒，但不可否认确实有一些暴涨的可转债因流通盘小，比较容易操纵价格。部分暴涨标的债券余额一共只有3亿左右，在考虑到有一些大股东配有部分转债或者部分债券在相关机构手中，实际上的流通盘就更小，几个亿资金就可以大幅拉升。

3、近年来市场风格就是炒概念，拉估值行情。而大多转债标的既有概念，又有基本面，也被机构和游资所青睐。

4、另外，和转债的交易规则有关，没有涨跌停限制，日内回转交易，机构为主。

5、暴涨模式难持续，目前市场并不寻常。有些正股还没涨停，转债价格已经飞上天，转股溢价率抬升至非常夸张的地步，这个现象很不合理

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推荐线索推荐原因北上资金昨日净卖出146.24亿 增持阳光电源减持宁德时代(附净买入净卖出金额前10个股)近期点赞数较多今日北上资金净卖出124.66亿, 贵州茅台、宁德时代等公司上榜十大成交活跃股近期点赞数较多恐慌了！近期点赞数较多探底回升，节前有个小提示近期点赞数较多北上资金连续5日加仓个股一览近期收藏数较多跟着基本面抄底，近期超跌基本面优秀公司前20近期收藏数较多高瓴最新持仓，这只股票即将起飞近期收藏数较多读懂生物医药的六大赛道，投资最硬核的细分子行业近期收藏数较多2021年四季度百亿基金新增的重仓股及中小市值股名单近期收藏数较多

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（来源：萝卜投研的财富号 2022-01-28 21:16） [点击查看原文]