Playing new shares means that investors in the market subscribe for shares on the day when listed companies issue shares for the first time. Playing new bonds means that listed companies issue bonds in the market because of financing, and investors subscribe on the day of issuance. Which is better, new debt or new shares?

1, judging from the subscription threshold,

To subscribe for new shares, investors must meet the conditions that the average daily market value of the previous 20 trading days is 654.38+0,000 or above. The number of subscriptions is related to the subscription market value, that is, the higher the market value, the more subscriptions. The new bonds are subscribed by credit, and investors only need to have a stock account, even if there is no market value, they can make top-level subscriptions. Compared with the subscription of new shares, the threshold is lower.

2. Judging from the winning percentage.

Both new shares and new bonds have a certain winning rate. Investors only hold new shares or bonds after winning lots and paying. Judging from the historical market, the winning rate of new bonds is generally higher than that of new shares, that is, investors are more likely to win when applying for new bonds.

3. From the perspective of risk and expected return.

Expected profitability: After investors subscribe for new shares, the new shares may go up and down continuously, and their funds will double. However, the listed company's share price is higher than the conversion price of 130% for 15-20 consecutive days, which will trigger compulsory redemption, and the company will redeem at the price of 103 yuan, so the expected return of new shares may be higher than that of new bonds.

Risk: both new shares and new debts will be broken, but the probability of new debts being broken is low. At the same time, the compulsory redemption of new bonds is conditional: once the stock price is lower than 70%-80% of the conversion price for about 30 days, the listed company must redeem at the price of 10 1- 103, so the risk of new bonds is higher than that of new shares.

To sum up, new bonds and new shares have their own advantages, and investors can choose according to their investment preferences. Generally speaking, it is better for cautious investors to choose new bonds, and it is better for radical investors to choose new shares.