Shengneng Convertible Bond's first-day price ceiling is expected to hit 157.3 yuan, with a potential surge to 164-170 yuan on the second day. Key watchpoints include the closing price change on the first trading day. For Shanghai-listed convertible bonds, there is a high probability of immediately reaching the 157.3 yuan ceiling during the final minutes of the first day's trading session, and the focus should be on whether this price can be maintained at the close. The critical test is the ability to make real-time judgments during the first day's closing period and the second day's trading. Currently, the new bond IPO market is relatively strong, with most recently issued bonds maintaining prices above 150 yuan. Even if the bond fails to close at its ceiling price on the first day, it is expected to have another upward push on the second day, resulting in a decent price performance.

The Shengneng Convertible Bond (110103) is issued by the parent company Shengneng Co., Ltd., which falls under the public utilities sector. Its core concept themes include energy storage, photovoltaic, nuclear power, wind energy, venture capital, new energy, pumped storage, central state-owned enterprise reform, green electricity, coal chemical concepts, oil and gas resources, and natural gas. The company's first-quarter 2026 report shows total operating revenue of 6.818 billion yuan, a year-on-year decrease of 7.08%, and non-recurring net profit attributable to parent company equity of 768 million yuan, a year-on-year decrease of 11.74%. The bond issuance scale is 2 billion yuan, with a conversion value of 96.45 yuan. The first largest shareholder allocated bonds, while the second and third largest shareholders did not, resulting in a circulating scale of approximately 928 million yuan. In the new bond IPO market, small-cap bonds generally perform well, while large-cap bonds can maintain prices above 130 yuan on the first day and have opportunities to rise further afterward. We wish all holders of the Shengneng Convertible Bond a profitable sale. Recent predictions lean toward conservative estimates, so caution is advised. The prediction standards are primarily subjective, supplemented by objective factors, considering the bond's circulating scale, the new bond IPO market, recently issued bond prices, the underlying stock's industry concepts, the bond's conversion value, and the broader market conditions. This article represents only personal opinions and does not constitute a recommendation for any mentioned targets. Trading and buying/selling risks are solely borne by the individual. Any errors or omissions in the article should be subject to official announcements. Shengneng Co., Ltd. (600642), Shengneng Convertible Bond (110103), Shu 26 Convertible Bond (113708). #Evening review: What did you buy today? #Increasing AI investment, Tencent's free cash flow turns negative #All flowers bloom together! Old shareholder stocks collectively strengthen. New bond IPO: 2026.08.12 | Issue 371. For more knowledge about convertible bonds, feel free to follow: Free Convertible Bonds.