【年内首个违约可转债出现 转债市场彻底告别刚性兑付】国内可转债市场再度迎来风险事件，龙大转债成为本次黑天鹅事件的主角。ST龙大近期发布公告坦言，公司现有货币资金已无法覆盖“龙大转债”到期本息，正式爆出可转债兑付违约风险，成为近期转债市场又一重大利空事件。龙大转债违约并非个案，标志着可转债市场刚性兑付时代彻底终结，行业信用风险进入常态化暴露阶段。有华南私募基金经理表示，此次违约极易引发“破窗效应”，后续弱资质转债的实质性违约概率将大幅提升，整体市场将持续承压。数据显示，今年以来中证转债指数持续走弱，自1月26日以来累计下跌近6%，市场风险偏好大幅降温。回顾行业发展，2020年以前可转债市场整体安全稳定，发行人基本通过强赎、下修转股等方式完成债券退出，几乎无违约案例。但2020年后，正股退市、信用债违约事件频发，转债信用风险逐步被市场重视。2023年搜特转债实质性违约，彻底打破了市场对转债“保本安全”的固有认知。
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.