1. When the positive share price of convertible bonds of listed companies is higher than the conversion price 130% for 15-20 consecutive days, compulsory redemption will be triggered.

2. When the share price of convertible bonds of listed companies is lower than 70%-80% of the conversion price for about 30 days, listed companies will forcibly redeem the convertible bonds at the redemption price of 10 1- 103. This situation generally occurs when convertible bonds are broken for a long time and investors' income is protected through forced redemption.

3. The basic elements of convertible bonds mainly include coupon rate, issuance scale, duration and conversion period, stock, conversion price, conversion price amendment clause, resale clause and redemption clause. Among them, the compulsory redemption of convertible bonds refers to the redemption clause. Redemption clause refers to the clause that the issuer of convertible bonds redeems the unconverted bonds held by investors according to the agreement under certain conditions, with the main purpose of protecting the interests of the issuer.

4. Simply put, when the market price of the stock far exceeds the agreed conversion price, the issuer has the right to redeem the convertible bonds at the agreed price. From the perspective of investors, this clause is the upper limit of the price of convertible bonds. When the price of convertible bonds is about to touch the compulsory redemption node, it is necessary to convert shares, otherwise it will cause losses.