CSC Financial: Recommend seizing the current convertible bond allocation window and gradually increasing positions based on fluctuations in the price center.

CSC Financial's research report states that looking ahead to November, although there is uncertainty over increased volatility in equity assets in the short term, convertible bonds with a median price of 125 yuan have already begun to offer allocation value. Over the coming period, supply and demand for convertible bond assets will remain persistently mismatched, and the anchoring effect of historical valuations is limited. It is advisable to evaluate the investment value of convertible bond assets more from an absolute-return perspective, gradually adjust risk exposure based on the allocation value of the assets, and appropriately reduce reliance on forecasts of short-term equity market movements. Therefore, it is recommended to seize the current window for convertible bond allocation, gradually increase positions as the price center fluctuates, prioritize the double-low strategy or index-like strategies, and maintain balanced sector allocation.