可转债投资手册之五（24年4月）：可转债产业链梳理

证券研究报告相关研究《可转债多因子策略探究——可转《转债生命周期之发行与上市——截至2024年4月15日，存量转债和可交债共有近540只，我们对其进行了分类并梳理为17个产业链，包括新基建、传统基建、风电光伏、TMT、半导体、汽车、医药生物、采掘与初加工、化工材料与产品、机械设备、环保&公用、军工、交运、农林牧渔、消费、轻工制造、金融产业链。用风险固定收益研究—可转债专题报告21.可转债产业链梳理......................................................................................................4 图1新基建产业链 4图2传统基建产业链 5图3风电光伏产业链 6 7 8图6半导体产业链 9图7汽车产业链（上） 图8汽车产业链（下） 图9新能源汽车产业链 图12采掘与初加工产业链 图13化工材料与产品产业链 图14机械设备产业链 图15环保&公用事业产业链 图16军工产业链 图17交通运输产业链 图18农林牧渔产业链 20图20轻工制造产业链 21图21金融产业链 21固定收益研究—可转债专题报告3表目录表1.新基建相关转债基本情况 4表2.传统基建相关转债基本情况 5表3.风电光伏相关转债基本情况 6表4.TMT相关转债基本情况（上） 7表5.TMT相关转债基本情况（下） 8表6.半导体相关转债基本情况 9表7.汽车相关转债基本情况（上） 表8.汽车相关转债基本情况（下） 表9.新能源汽车相关转债基本情况 表10.医药生物相关转债基本情况（上） 表11.医药生物相关转债基本情况（下） 表12.采掘与初加工相关转债基本情况 表13.化工材料与产品相关转债基本情况 表14.机械设备相关转债基本情况 表15.环保&公用事业相关转债基本情况 表16.军工相关转债基本情况 表17.交通运输相关转债基本情况 表18.农林牧渔相关转债基本情况 表19.消费相关转债基本情况 20表20.轻工制造相关转债基本情况 21表21.金融相关转债基本情况 22固定收益研究—可转债专题报告4截至2024年4月15日，存量转债和可交债共有将近540只，我们对其进行了分类，并梳理为17个产业链，包括新基建、传统基建、风电光伏、TMT、半导体、汽车、医药生物、采掘与初加工、化工材料与产品、机械设备、环保&公用、军工、交运、农林牧渔、消费、轻工制造、金融产业链。表1.新基建相关转债基本情况转债简称转债代码正股名称价格（元）转股溢价率（%）转债余额（亿元）盛路转债128041.SZ盛路通信244.55159.950.52通光转债123034.SZ通光线缆237.88195.500.78思特转债123054.SZ思特奇146.4033.201.67飞鹿转债123052.SZ飞鹿股份131.0041.581.50奥飞转债123131.SZ奥飞数据125.3621.505.21神码转债127100.SZ神州数码124.1045.3913.39兴森转债128122.SZ兴森科技122.3449.912.68红相转债123044.SZ*ST红相119.003.364.62佳力转债113597.SH佳力图118.8082.862.98测绘转债123177.SZ测绘股份118.6838.012.44永鼎转债110058.SH永鼎股份118.5839.962.60科数转债127091.SZ科华数据118.2744.8414.92中贝转债113678.SH中贝通信118.1437.805.17烽火转债110062.SH烽火通信116.7355.6630.88纵横转债113573.SH纵横通信115.9677.172.70景20转债113602.SH景旺电子114.9436.1117.80起帆转债111000.SH起帆电缆114.6138.199.99道通转债118013.SH道通科技113.5065.1812.80白电转债113549.SH白云电器113.2432.888.04明电转02123203.SZ明阳电路113.1538.274.48明电转债123087.SZ明阳电路112.9945.754.19景23转债113669.SH景旺电子112.4045.3911.54新北转债128083.SZ新北洋112.3829.518.77华体转债113574.SH华体科技112.34206.652.08建工转债110064.SH重庆建工111.0089.3812.65九洲转2123089.SZ九洲集团110.4745.463.06科达转债113569.SH苏州科达110.3652.545.14拓斯转债123101.SZ拓斯达108.72134.286.70信服转债123210.SZ深信服108.10115.1412.15崇达转2128131.SZ崇达技术108.00133.8414.00煜邦转债118039.SH煜邦电力106.3038.634.11富瀚转债123122.SZ富瀚微106.00197.605.80中能转债123234.SZ中能电气104.9346.124.00申昊转债123142.SZ申昊科技100.90108.385.50城地转债113596.SH城地香江93.70337.4511.98固定收益研究—可转债专题报告5表2.传统基建相关转债基本情况转债简称转债代码正股名称价格（元）转股溢价率（%）转债余额（亿元）中旗转债127081.SZ中旗新材189.0099.655.40北方转债127014.SZ北方国际158.003.295.32鼎胜转债113534.SH鼎胜新材143.396.063.33海波转债123080.SZ海波重科136.40122.501.49飞鹿转债123052.SZ飞鹿股份131.0041.581.50法兰转债113598.SH法兰泰克127.2323.212.75豪美转债127053.SZ豪美新材122.3823.764.82本钢转债127018.SZ本钢板材120.7735.9056.31华设转债113674.SH华设集团119.6132.644.00友发转债113058.SH友发集团116.8914.8820.00交建转债128132.SZ新疆交建116.2634.708.49风语转债113643.SH风语筑114.9553.165.00大禹转债123063.SZ大禹节水114.8840.716.35天路转债110060.SH西藏天路114.2535.745.65万青转债127017.SZ万年青111.94140.5710.00设研转债123130.SZ设研院111.1450.873.75建工转债110064.SH重庆建工111.0089.3812.65浙建转债127102.SZ浙江建投110.8034.8010.00沪工转债113593.SH上海沪工110.7683.294.00濮耐转债127035.SZ濮耐股份110.6944.476.26冠中转债123207.SZ冠中生态110.0621.134.00凌钢转债110070.SH凌钢股份110.0462.862.17旗滨转债113047.SH旗滨集团109.9068.9414.99长海转债123091.SZ长海股份109.8668.585.50亚泰转债128066.SZ郑中设计109.7560.694.61精装转债127055.SZ中天精装109.3134.825.77鸿路转债128134.SZ鸿路钢构108.9792.4915.73艾迪转债113644.SH艾迪精密108.0859.7710.00山玻转债111001.SH山东玻纤108.04115.316.00华阳转债128125.SZ华阳国际107.39141.374.50核建转债113024.SH中国核建106.8232.9929.95山路转债127083.SZ山东路桥106.6545.7848.36震安转债123103.SZ震安科技105.93388.822.49垒知转债127062.SZ垒知集团104.70101.023.96博22转债113650.SH苏博特103.52201.698.00东南转债127103.SZ东南网架102.8834.2820.00红墙转债127094.SZ红墙股份102.8044.083.16冀东转债127025.SZ冀东水泥102.30160.9217.76科顺转债123216.SZ科顺股份100.00154.5921.98文科转债128127.SZ文科股份100.0089.219.49蒙娜转债127044.SZ蒙娜丽莎99.57160.8911.69绿茵转债127034.SZ绿茵生态98.0089.097.12汇通转债113665.SH汇通集团96.8384.463.60岭南转债128044.SZ岭南股份94.0144.056.56城地转债113596.SH城地香江93.70337.4511.98精工转债110086.SH精工钢构93.5464.3620.00金埔转债123198.SZ金埔园林91.8050.455.20志特转债123186.SZ志特新材91.00237.466.14帝欧转债127047.SZ帝欧家居70.89152.8515.00中装转2127033.SZST中装66.2067.6211.59固定收益研究—可转债专题报告6表3.风电光伏相关转债基本情况转债简称转债代码正股名称价格（元）转股溢价率（%）转债余额（亿元）通光转债123034.SZ通光线缆237.88195.500.78福能转债110048.SH福能股份191.990.4111.38金盘转债118019.SH金盘科技136.89-0.498.76博23转债113069.SH博威合金127.8318.7917.00嘉泽转债113039.SH嘉泽新能126.4517.492.88欧晶转债127098.SZ欧晶科技119.5029.034.70永鼎转债110058.SH永鼎股份118.5839.962.60科数转债127091.SZ科华数据118.2744.8414.92奥维转债118042.SH奥特维115.9535.3711.40节能转债113051.SH节能风电115.8531.1229.99盛虹转债127030.SZ东方盛虹114.8447.8249.98起帆转债111000.SH起帆电缆114.6138.199.99通裕转债123149.SZ通裕重工111.1230.1214.84天能转债123071.SZ天能重工110.8068.106.94宇邦转债123224.SZ宇邦新材110.5055.515.00九洲转2123089.SZ九洲集团110.4745.463.06福莱转债113059.SH福莱特109.9072.4940.00旗滨转债113047.SH旗滨集团109.9068.9414.99长海转债123091.SZ长海股份109.8668.585.50帝尔转债123121.SZ帝尔激光109.1295.538.31宏发转债110082.SH宏发股份109.08105.4220.00山玻转债111001.SH山东玻纤108.04115.316.00通22转债110085.SH通威股份107.9462.58119.84中辰转债123147.SZ中辰股份107.3040.305.70福22转债113661.SH福斯特106.9191.1030.30强联转债123161.SZ新强联106.7287.9212.10晶科转债113048.SH晶科科技105.2778.8622.96中能转债123234.SZ中能电气104.9346.124.00晶澳转债127089.SZ晶澳科技103.85152.0289.60晶能转债118034.SH晶科能源103.8586.22100.00芯能转债113679.SH芯能科技103.0654.658.80双良转债110095.SH双良节能102.4466.9526.00能辉转债123185.SZ能辉科技102.2968.173.48高测转债118014.SH高测股份102.16101.814.83隆22转债113053.SH隆基绿能101.39217.0869.95天23转债118031.SH天合光能100.83216.3488.65裕兴转债123144.SZ裕兴股份100.7095.166.00海优转债118008.SH海优新材97.35452.306.94 中陆转债123155.SZ中环海陆96.60170.78 3.60固定收益研究—可转债专题报告7表4.TMT相关转债基本情况（上）转债简称转债代码正股名称价格（元）转股溢价率（%）转债余额（亿元）盛路转债128041.SZ盛路通信244.55159.950.52广电转债110044.SH广电网络194.87246.990.71新致转债118021.SH新致软件150.2110.642.50声迅转债127080.SZ声迅股份149.20109.122.80思特转债123054.SZ思特奇146.4033.201.67姚记转债127104.SZ姚记科技131.9033.585.83奥飞转债123131.SZ奥飞数据125.3621.505.21神码转债127100.SZ神州数码124.1045.3913.39宇瞳转债123219.SZ宇瞳光学122.4116.366.00兴森转债128122.SZ兴森科技122.3449.912.68中富转债123226.SZ中富电路121.9969.665.20丝路转债123138.SZ丝路视觉121.1865.482.40银信转债123059.SZ银信科技119.3536.543.91世运转债113619.SH世运电路119.2431.2310.00永鼎转债110058.SH永鼎股份118.5839.962.60中贝转债113678.SH中贝通信118.1437.805.17烽火转债110062.SH烽火通信116.7355.6630.88纵横转债113573.SH纵横通信115.9677.172.70贵广转债110052.SH贵广网络115.6435.232.64景20转债113602.SH景旺电子114.9436.1117.80天阳转债123184.SZ天阳科技114.9024.319.75游族转债128074.SZ游族网络113.70113.446.82兴瑞转债127090.SZ兴瑞科技113.1850.374.62明电转02123203.SZ明阳电路113.1538.274.48明电转债123087.SZ明阳电路112.9945.754.19金现转债123232.SZ金现代112.5987.132.03景23转债113669.SH景旺电子112.4045.3911.54恒锋转债123173.SZ恒锋信息112.3668.842.42湖广转债127007.SZ湖北广电108.1059.163.67崇达转2128131.SZ崇达技术108.00133.8414.00朗科转债123100.SZ朗科智能106.9073.513.80富仕转债123217.SZ四会富仕105.5054.945.70科蓝转债123157.SZ科蓝软件105.4070.624.94华正转债113639.SH华正新材105.1592.465.70山石转债118007.SH山石网科103.12125.972.67正元转02123196.SZ正元智慧102.7070.063.51城地转债113596.SH城地香江93.70337.4511.98宏图转债118027.SH航天宏图92.76169.2210.09固定收益研究—可转债专题报告8表5.TMT相关转债基本情况（下）转债简称转债代码正股名称价格（元）转股溢价率（%）转债余额（亿元）联得转债123038.SZ联得装备139.0040.291.47福蓉转债113672.SH福蓉科技135.717.536.38聚飞转债123050.SZ聚飞光电120.7225.883.75春秋转债113577.SH春秋电子120.2554.111.78火炬转债113582.SH火炬电子119.6240.724.17晨丰转债113628.SH晨丰科技118.0813.774.15春23转债113667.SH春秋电子115.8043.535.70利德转债123035.SZ利亚德115.2734.037.99长信转债123022.SZ长信科技113.6934.692.56胜蓝转债123143.SZ胜蓝股份113.6744.623.29洁美转债128137.SZ洁美科技113.6750.975.99新北转债128083.SZ新北洋112.3829.518.77科达转债113569.SH苏州科达110.3652.545.14环旭转债113045.SH环旭电子109.9152.4734.50联创转债128101.SZ联创电子109.21109.102.99立讯转债128136.SZ立讯精密108.80123.3829.99瀛通转债128118.SZ瀛通通讯107.40153.653.00福立转债118043.SH福立旺107.1767.247.00豪鹏转债127101.SZ豪鹏科技106.9554.3811.00冠宇转债118024.SH珠海冠宇106.92104.3930.89超声转债127026.SZ超声电子106.0170.607.00崧盛转债123159.SZ崧盛股份104.1388.302.94闻泰转债110081.SH闻泰科技103.06184.0685.98海能转债123193.SZ海能实业101.7088.976.00佳禾转债123237.SZ佳禾智能100.9674.6910.04 英力转债123153.SZ英力股份97.4074.813.40固定收益研究—可转债专题报告9表6.半导体相关转债基本情况转债简称转债代码正股名称价格（元）转股溢价率（%）转债余额（亿元）晶瑞转债123031.SZ晶瑞电材315.3260.290.53联得转债123038.SZ联得装备139.0040.291.47精测转债123025.SZ精测电子138.8512.673.08精测转2123176.SZ精测电子132.0941.7812.76兴森转债128122.SZ兴森科技122.3449.912.68彤程转债113621.SH彤程新材117.4750.075.36华兴转债118003.SH华兴源创117.4341.418.00南电转债123170.SZ南大光电113.5558.429.00国微转债127038.SZ紫光国微112.5782.5914.92金宏转债118038.SH金宏气体111.8367.8410.16飞凯转债123078.SZ飞凯材料111.6660.076.18隆华转债123120.SZ隆华科技111.5547.207.98韦尔转债113616.SH韦尔股份111.1487.9124.33力合转债118036.SH力合微110.2965.483.80强力转债123076.SZ强力新材108.90115.978.50芯海转债118015.SH芯海科技108.10119.874.10立昂转债111010.SH立昂微107.20137.1933.90博杰转债127051.SZ博杰股份106.81122.645.26捷捷转债123115.SZ捷捷微电106.4096.4211.94富瀚转债123122.SZ富瀚微106.00197.605.80宏微转债118040.SH宏微科技105.7864.194.30华懋转债113677.SH华懋科技105.3079.8010.50华特转债118033.SH华特气体104.6497.776.46银微转债118011.SH银河微电104.2584.275.00闻泰转债110081.SH闻泰科技103.06184.0685.98晶瑞转2123124.SZ晶瑞电材100.03141.865.23固定收益研究—可转债专题报告10表7.汽车相关转债基本情况（上）转债简称转债代码正股名称价格（元）转股溢价率（%）转债余额（亿元）锋龙转债128143.SZ锋龙股份132.9929.201.73德尔转债123011.SZ德尔股份112.7823.262.50今飞转债128056.SZ今飞凯达118.2225.801.72正裕转债113561.SH正裕工业132.2149.461.38凯中转债128042.SZ凯中精密113.3218.754.02联诚转债128120.SZ联诚精密123.0023.632.59威唐转债123088.SZ威唐工业111.71101.403.01拓普转债113061.SH拓普集团118.0051.3325.00汽模转2128090.SZ天汽模118.4130.773.08文灿转债113537.SH文灿股份167.3428.851.23泉峰转债113629.SH泉峰汽车92.43115.256.19永鼎转债110058.SH永鼎股份118.5839.962.60宏发转债110082.SH宏发股份109.08105.4220.00爱迪转债110090.SH爱柯迪124.4024.7315.70沿浦转债111008.SH上海沿浦120.6028.183.84豪能转债113662.SH豪能股份111.9048.535.00冠盛转债111011.SH冠盛股份136.47-0.164.04联创转债128101.SZ联创电子109.21109.102.99富瀚转债123122.SZ富瀚微106.00197.605.80长信转债123022.SZ长信科技113.6934.692.56韦尔转债113616.SH韦尔股份111.1487.9124.33广汇转债110072.SH广汇汽车93.00156.7133.66长汽转债113049.SH长城汽车107.9767.8834.95精锻转债123174.SZ精锻科技111.5657.449.80亚科转债127082.SZ亚太科技122.1719.8011.59纽泰转债123201.SZ纽泰格123.0019.713.50上声转债118037.SH上声电子106.12110.445.20神通转债111016.SH神通科技114.9038.795.77立中转债123212.SZ立中集团114.7054.009.00博俊转债123222.SZ博俊科技133.3513.195.00华懋转债113677.SH华懋科技105.3079.8010.50雅创转债123227.SZ雅创电子113.1980.713.63卡倍转02123238.SZ卡倍亿129.9741.375.29湘泵转债113684.SH湘油泵100.001.015.77固定收益研究—可转债专题报告11表8.汽车相关转债基本情况（下）转债简称转债代码正股名称价格（元）转股溢价率（%）转债余额（亿元）东时转债113575.SH东方时尚148.15506.070.98冠盛转债111011.SH冠盛股份136.47-0.164.04麒麟转债127050.SZ森麒麟130.8714.6721.99金钟转债123230.SZ金钟股份124.9078.783.50信测转债123231.SZ信测标准124.1839.035.45海泰转债123200.SZ海泰科119.0026.593.70岱美转债113673.SH岱美股份118.7544.089.08彤程转债113621.SH彤程新材117.4750.075.36超达转债123187.SZ超达装备116.7721.234.53新23转债113675.SH新泉股份116.1642.6911.60道通转债118013.SH道通科技113.5065.1812.80永东转2127059.SZ永东股份106.7852.063.79永安转债113609.SH永安行106.5557.057.34 明新转债111004.SH明新旭腾106.2979.436.73表9.新能源汽车相关转债基本情况转债简称转债代码正股名称价格（元）转股溢价率（%）转债余额（亿元）晶瑞转债123031.SZ晶瑞电材315.3260.290.53银轮转债127037.SZ银轮股份175.464.475.07鼎胜转债113534.SH鼎胜新材143.396.063.33精达转债110074.SH精达股份132.654.085.08万顺转债123012.SZ万顺新材131.8965.771.22震裕转债123228.SZ震裕科技126.933.4911.95翔丰转债123225.SZ翔丰华126.806.638.00川恒转债127043.SZ川恒股份122.3025.2210.44拓普转债113061.SH拓普集团118.0051.3325.00金铜转债113068.SH金田股份116.9921.6814.50天赐转债127073.SZ天赐材料116.9839.3134.10宙邦转债123158.SZ新宙邦115.9340.1319.69海亮转债128081.SZ海亮股份115.9013.0627.02国泰转债127040.SZ江苏国泰115.4123.8439.87斯莱转债123067.SZ斯莱克114.0558.072.39恩捷转债128095.SZ恩捷股份113.8567.424.53正海转债123169.SZ正海磁材112.1031.5914.00科利转债127066.SZ科达利110.2082.3115.34宏发转债110082.SH宏发股份109.08105.4220.00万顺转2123085.SZ万顺新材108.8043.225.70金田转债113046.SH金田股份107.3174.4415.00华友转债113641.SH华友钴业105.4857.7475.99嘉元转债118000.SH嘉元科技105.32260.959.78国力转债118035.SH国力股份104.40109.234.80天奈转债118005.SH天奈科技102.07304.518.30晶瑞转2123124.SZ晶瑞电材100.03141.865.23锂科转债118022.SH长远锂科98.76182.9832.50道氏转02123190.SZ道氏技术96.0947.4826.00芳源转债118020.SH芳源股份90.49 280.556.42固定收益研究—可转债专题报告12表10.医药生物相关转债基本情况（上）转债简称转债代码正股名称价格（元）转股溢价率(%)转债余额（亿元）溢利转债123018.SZ溢多利276.80361.330.54九典转02123223.SZ九典制药171.805.273.60新天转债128091.SZ新天药业151.747.951.52诺泰转债118046.SH诺泰生物133.2910.054.34百洋转债123194.SZ百洋医药131.196.838.46东亚转债111015.SH东亚药业127.506.426.89山河转债123199.SZ山河药辅126.9084.243.20益丰转债113682.SH益丰药房126.3115.1817.97奕瑞转债118025.SH奕瑞科技123.4035.7014.22英特转债127028.SZ英特集团122.6717.834.06奇正转债128133.SZ奇正藏药121.5015.687.99柳药转债113563.SH柳药集团120.3633.748.02普利转债123099.SZ普利制药118.0039.295.31博瑞转债118004.SH博瑞医药117.4756.724.65楚天转债123240.SZ楚天科技114.0031.7910.00卫宁转债123104.SZ卫宁健康113.95209.519.70微芯转债118012.SH微芯生物112.9044.385.00漱玉转债123172.SZ漱玉平民112.7038.578.00尚荣转债128053.SZ尚荣医疗112.3397.181.90寿22转债113660.SH寿仙谷111.3771.923.98健友转债113579.SH健友股份109.80106.155.03昌红转债123109.SZ昌红科技109.06106.444.60华海转债110076.SH华海药业108.24146.2518.42亚药转债128062.SZ亚太药业108.2344.196.57健帆转债123117.SZ健帆生物108.2087.3510.00大参转债113605.SH大参林107.87131.2014.05花园转债123178.SZ花园生物107.0759.5012.00美诺转债113618.SH美诺华106.66118.034.77乐普转2123108.SZ乐普医疗105.81121.5316.38药石转债123145.SZ药石科技103.92166.3011.49康医转债123151.SZ康泰医学102.5682.297.00东宝转债123214.SZ东宝生物102.3940.524.55蓝帆转债128108.SZ蓝帆医疗100.92239.0615.21灵康转债113610.SH灵康药业100.17133.564.58共同转债123171.SZ共同药业97.0075.973.80塞力转债113601.SH塞力医疗95.59145.195.42思创转债123096.SZ思创医惠95.0519.405.24固定收益研究—可转债专题报告13表11.医药生物相关转债基本情况（下）转债简称转债代码正股名称价格（元）转股溢价率（%）转债余额（亿元）润达转债113588.SH润达医疗157.5414.022.97九强转债123150.SZ九强生物124.0123.4511.21力诺转债123221.SZ力诺特玻121.3016.684.99康泰转2123119.SZ康泰生物116.0937.8319.99宝莱转债123065.SZ宝莱特112.24312.862.19三诺转债123090.SZ三诺生物111.9681.444.98万孚转债123064.SZ万孚生物108.78129.705.98正川转债113624.SH正川股份107.59252.964.05北陆转债123082.SZ北陆药业106.89104.364.99科华转债128124.SZ科华生物99.21190.047.37易瑞转债123220.SZ易瑞生物95.01 71.013.28固定收益研究—可转债专题报告14表12.采掘与初加工相关转债基本情况转债简称转债代码正股名称价格（元）转股