Convertible bond subscription refers to the fact that when a company issues convertible bonds, investors participate in the subscription, which is the same as participating in the subscription of new shares. Only after participating can they win the lottery, and then they can get the opportunity to make money. After many people participate in the subscription of convertible bonds, the system prompts failure.

what are the reasons for the failure of convertible bonds subscription?

1. Unable to open convertible bonds: Generally speaking, the conditions for opening convertible bonds are not met. Investors are required to open an account for 2 trading days, and the assets in the securities account and capital account are not less than RMB 1, per day in the 2 trading days before the application for opening, and they have participated in securities trading for more than 2 years.

2. Permission for opening convertible bonds has not been applied: before purchasing convertible bonds, the trading permission of convertible bonds must be opened, and you can apply for opening online or offline on the basis of meeting the opening conditions.

3. New debt cannot be issued on the day of new account opening: new shares can be issued on the next trading day after account opening; The subscription of GEM and science and technology innovation board new shares also needs to open the corresponding authority.

multiple accounts purchase the same new debt repeatedly: new shares and new debts cannot be purchased repeatedly (including the purchase of the ID card in securities accounts opened by other brokers, which is also considered as repeated purchase).

5 There have been three records of breach of contract, and it is impossible to make a new subscription: if the online lottery fails to pay in time, and the investor has given up the subscription of convertible bonds, exchangeable bonds and new shares for three times in a row for 12 months, he shall not participate in the subscription of online new shares, depositary receipts, convertible corporate bonds and exchangeable corporate bonds for six months (calculated according to 18 natural days, including the next day) from the day after the settlement participant last reported his abandonment of subscription.