The subscription of convertible bonds refers to that when a listed company issues convertible bonds, investors can participate in the subscription, just like when a company issues new shares, investors participate in the subscription of new shares, except that the subscription object has changed from new shares to new bonds.

what does it mean that the subscription of convertible bonds is restricted by shareholders?

It means that investors who participate in the issuance of convertible bonds and new bonds need to declare through shareholders' accounts, and they can also subscribe for new bonds in Shanghai market only by opening on-site fund accounts in Shanghai market.

Specific conditions for participation in the subscription of convertible bonds:

1. Priority placement for old shareholders: they need to hold the corresponding shares after the market closes in date of record, and they need to pay in full on the day of placement, without opening the authority of convertible bonds.

2 online public offering: public offering to public investors, with no market value requirement for holding positions, provided that the authority of convertible bonds is opened, and subscription funds need not be paid on the day of subscription, and full payment is required after winning the lottery.

Conditions for opening the authority of convertible bonds:

1. Opening an account in a securities company must be over 2 trading days;

2 The daily average assets in the securities account and capital account in the 2 trading days before the application for opening are not less than RMB 1, (excluding the funds and securities integrated through margin financing and securities lending);

3 Having participated in securities trading for more than 2 years (excluding fund trading).

investors who have opened the trading authority of convertible bonds before June 18, 222 and have not closed their accounts are not affected by the above conditions. Institutional investors participate in the subscription and trading of convertible bonds issued to unspecified objects without the judgment of assets and trading experience.

Last reminder: the subscription of convertible bonds is based on lots, and the Shanghai market declaration is 1 lot or an integer multiple thereof, and 1 lot is equal to the face value of 1 yuan, and the subscription limit is 1, lots, and the subscription time is 9:3-15:; . In Shenzhen market, bonds are purchased in sheets, and the declaration is 1 sheets or integral multiples thereof, with 1 sheets equal to the face value of 1 yuan, and the subscription limit is 1, sheets, and the subscription time is 9:15-15:.