There is no price limit for convertible bond transactions, and T+0 trading is implemented, so there is no price limit.

In order to reduce market volatility and control risks, the Shanghai Stock Exchange has set up a circuit breaker mechanism for convertible bond transactions.

According to Shenzhen Stock Exchange regulations, the quotation range during the call auction on the first day of bond listing must be within 30% of the issue price.

This is the reason why the lowest opening price of many Shenzhen convertible bonds is 130 yuan, and then they are never traded at such a price again.