New Debt Analysis | Spring23 Convertible Bond

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The following is a new debt analysis:

Name: Spring23 Convertible Bond

Spring and Autumn Electronics' main business is the research, design, production, and sales of consumer electronics product structure components and related precision molds.

The company's compound growth rate for revenue over the past three years was 30.96%, with a net profit compound growth rate of 41.02%. Revenue growth is excellent, and net profit growth is excellent.

Analysis: The stock valuation is currently low, with a year-on-year decrease in net profit of 13.91% for the third quarter last year. The company is mid-tier in its industry, with relatively low cash attention and moderate investment value.

Face Value: 5.70 billion yuan

Credit Rating: AA-

Conversion Price: 91.83 yuan

Expected Primary Listing Premium Rate: around 41%

Analysis: The bond scale is relatively small, the credit rating is slightly lower, and the conversion price is relatively low. The current premium rate is relatively low. Referring to previously listed Spring and Autumn convertible bonds, it is expected that the Spring23 convertible bond will be priced around 129 yuan.

This article was first published on WeChat public account: Cai Niao Finance. The content of this article represents the author's personal opinion and does not represent the stance of Hexun.com. Investors should act based on their own judgment, assuming full responsibility for any risks.