Will the Aofei convertible bonds break?

Aofei Data announced on the evening of December 2 that the convertible bonds issued this time are referred to as "Aofei Convertible Bonds". Many investors are concerned about whether the Aofei Convertible Bonds will break? Is it worth subscribing? ?Let’s analyze it today.

Will the Aofei convertible bonds be broken?

The main credit rating of Aofei Data is A. The credit rating of this convertible corporate bond is A, and the redemption price is 115. The conversion price is 22.02 yuan. At present, the conversion premium rate of Aofei's bonds is -4.22, and the probability of breaking the bond is extremely low. Investors can consider participating in the subscription.

The rights included: The rights included per share are 1.6638, which belongs to the Shenzhen stock market. For the first-hand party, 700 shares and 11 convertible bonds are required, which costs about 15,400 yuan. It requires a lot of funds, and it is expected that the first-hand party can be converted The bond can make a profit of about 200 yuan, which can withstand a decline of about 1.3, and the safety margin is relatively low.

What is the main business of Aofei Data?

The main business is to provide Internet data center (IDC) business and its value-added services to customers. The company mainly provides customers with IDC services and other comprehensive Internet services and system integration projects. The business has covered more than 30 cities in China and more than 10 countries and regions around the world. A domestic backbone network with Guangzhou, Shenzhen, Beijing, Shanghai and Nanning as core nodes has been formed, and an international network with Hong Kong as the core node has been gradually established.

Analysis of the value of Aofei's bond issuance:

On December 3, 2021, Aofei Data publicly issued 635 million yuan of convertible corporate bonds, referred to as "Aofei Convertible Bonds".

1 Calculated based on the latest stock price: 22 yuan, conversion price: 22.02 yuan, and convertible bond terms, the conversion value: 99.91 yuan, the pure debt value: 73.35 yuan, the guaranteed price: 121.7 yuan, and the bond year Yield: 3.4, Grade A.

2 Interest and redemption price: 0.5 in the first year, 0.7 in the second year, 1.2 in the third year, 1.8 in the fourth year, 2.5 in the fifth year, 2.8 in the sixth year, redemption price: 115 yuan . better.

3 Conditions for forced redemption: During the conversion period, the closing price of the underlying stock on at least 15 of the 30 consecutive trading days shall not be less than 130 of the conversion price. generally.

4 Conditions for downward revision of the conversion price: During the period of existence, the closing price of the underlying stock on at least 15 of the 30 consecutive trading days is lower than the conversion price of 85. After the downward revision, the conversion price will not be lower than the net assets per share. generally.

5 Sale-back conditions: Within the last two interest accrual years of expiration, the closing price of the underlying stock for any 30 consecutive trading days is lower than 70% of the current conversion price. The repurchase price is the face value plus current interest. generally.

The initial conversion price of the convertible bonds issued this time is 22.02 yuan per share, which shall not be lower than the average trading price of the company's stock in the twenty trading days before the announcement date of the prospectus (if the company's stock price is If the stock price is adjusted due to ex-rights or ex-dividends during the day, the closing price on the trading day before the adjustment will be calculated based on the price adjusted for the corresponding ex-rights and ex-dividends) and the average trading price of the company's stock on the previous trading day. At the same time, the initial conversion price shall not be lower than the latest audited net assets per share and face value of the stock.