Convertible bonds frequently appear with "broken faces" and credit risks need to be vigilant.

During the peak of financial report disclosure, the convertible bond market is facing a round of credit risk tests. Although the overall demand exceeds supply, there are increasing cases of "breaking the face" in the convertible bond market recently, with some bonds even reaching default clauses. According to interviews with reporters, referring to past situations, there is still a probability of increasing cases of "breaking the face" as the financial report disclosure comes to an end. This is closely related to the unstable operations and financial pressure of the issuers. Market participants remind investors that even if the bonds fall below face value, they should still make dynamic judgments based on credit risks and invest rationally.