The frequency of downward revisions to conversion prices of convertible bonds has increased, and the rebound in equity prices has driven valuation recovery.

Since July of this year, the A-share market has continued to experience volatile adjustments, and the downward revision of conversion prices in the convertible bond sector has also increased significantly. Data shows that since the second half of the year, 29 convertible bonds have completed downward revisions of their conversion prices, a frequency notably higher than in the first half, covering multiple industries such as electronics, basic chemicals, and public utilities. Some issuers that had previously triggered the clauses multiple times but consistently chose not to revise downward have also proposed downward revision plans for the first time.