I checked my account today, and I got an extra Yanjing debt. I don't know what happened. Is it worth buying? How?

Debt allocation is a financing behavior of listed companies. If a company wants to issue bonds, if you hold the shares of this company, then you have the priority to buy the bonds of this listed company. On the subscription date, you only need to have cash in your account, enter the entrustment code, and you can get this convertible bond, and the cash in your account becomes "XXX convertible bond". If you don't operate the above procedures, it means that you didn't buy "so-and-so convertible bonds" and your account shows "so-and-so convertible bonds". Its significance can be compared with' rights issue'.

In the thrilling stock market, we often encounter some problems. But some problems should be avoided, but they are always unavoidable. A few days ago, when I applied for a "debt distribution", I experienced three problems, which really worried people.

Personal experience: On the afternoon of August 3 1, the author opened his account to prepare for trading, and suddenly found that there was an additional line under "fund stock": securities name "XX with debt", securities code "XXXXXX", stock balance "1 1", and available balance "1/kloc". So, suspend the entrusted transaction and find out quickly. However, after searching all the announcement information in the information column of the whole "XX securities online trading system", there is no information prompt about "XX debt allocation". Click "XX Securities Online Trading System" to enter the information of listed companies, and then see the relevant "latest tips".

Question: As a long-term investor who holds shares of listed companies, he didn't know that it was the day of "debt matching" subscription until half an hour before the end of debt matching. There are many reasons, including investors' own reasons (the relevant media should have published a suggestive announcement about "XX debt matching") and the lack of information tips. With so many media now, financial information is dizzying. Ordinary investors can't and don't need to read all the information every day, and there will definitely be "fish escaping from the net". For individual investors, "relevant information" is what they need to pay attention to. Therefore, how to ensure that "relevant investors" receive "relevant information" timely and fully should be the first consideration and efforts of relevant parties. For example, if the prompt time of "related information" in the account of "related investors" is increased, can the information prompt similar to "XX debt allocation" be displayed in the account of "related investors" a few days in advance? In fact, many investors get relevant information tips through the contents of "capital stocks" in their accounts.

Suggestion: In addition to investors' timely understanding of relevant information, relevant parties should take a multi-pronged approach to expand channels for investors, especially "related investors". In addition to releasing relevant information in a comprehensive and timely manner through the Internet, newspapers and trading systems, it is especially necessary to strengthen the targeted tips for "relevant investors", and take measures such as sending SMS, email and giving information tips similar to "XX debt allocation" in the account in advance (at least 3-5 days) to solve the problems of operation delay caused by untimely tips.

The debt distribution scheme is not scientific enough.

Personal experience: After suddenly learning the information of "XX Debt Matching", the author quickly checked the suggestive announcement of the issuance plan of "XX Debt Matching" and found that the plan was not scientific enough, which seemed a bit cumbersome. According to the plan, the convertible bonds issued this time will be preferentially distributed to the original A-share shareholders of the company except the controlling shareholder, and will be converted into lots according to the ratio of 0.5 1 yuan convertible bonds per share (face value: 1000 yuan/piece), and the part less than 1 lot will be rounded off according to the precise algorithm. Therefore, according to this regulation, the author checks that * * * holds 2 1 100 shares at the closing of the market on the registration date, and calculates that the convertible bonds that can be purchased are 107 1 yuan, and then according to 100 yuan/piece and/kloc-0.

Question: There are more than one issuance scheme such as "XX bond matching", and the overall calculation is too complicated: it is necessary to convert the purchasable financing according to the number of shares and the purchasable quantity according to the purchasable financing; Taking the number of sheets as the issuing unit and the number of lots as the subscription unit, this design is obviously not conducive to ordinary investors. Because, in the huge investor group, there are great differences among individuals in age, knowledge, experience, education level and so on. Some investors think that this design is not complicated, but many investors think that this design is too complicated to adapt.

Suggestion: Try to simplify the design of debt distribution scheme. Taking "XX debt allocation" as an example, on the premise that the issuance scale of convertible bonds and the number of original A-share shareholders remain unchanged, the issuance plan of "placing 0.5 1 yuan convertible bonds per share and converting them into lots at 1000 yuan/lot (par value 100 yuan/piece)" can be changed to "65438". In this way, the issuance results are basically unchanged, but the calculation and operation of investors have become extremely simple. As for the problem that the final total circulation may not be an integer after the change of the issuance plan, it can be underwritten by the underwriting syndicate.

The trading system needs to be improved.

Personal experience: After finally calculating the number of bonds that can be "allocated", the author quickly sold some stocks in the account and made money to subscribe. I didn't want to, but the trouble came again. I don't know whether it is the problem of XX securities online trading system or the exchange system itself, but the actual operation at the time of subscription is quite different from the traditional operation mode and system prompt, which makes people quite puzzled.

Problem: It is manifested in two aspects. First, the purchase price displayed by the system and the corresponding unit of measurement are inconsistent with the actual operation. At first, the author operates according to the method of buying stocks (the available funds in the account are 38,466 yuan), and inputs the securities code, securities name (automatically displayed), purchase price (100, automatically displayed) and the number of shares that can be bought (300, automatically displayed), and then inputs the purchase quantity 1 10. The result was unsuccessful. I checked it carefully and found that there was nothing wrong with the contents, so I had to call the securities company and got the answer: "The quantity is 1 1, which is stipulated by the exchange and calculated by hand." What you said is even more confusing. Since the unit of measurement is hand, you should enter 1 1, then the purchase price automatically displayed by the system should not be 100, but 1000, and the number of shares that can be bought should not be 1 10, nor should it be 300.

Second, it is obviously a purchase, but only a commission can complete the transaction. After receiving the consultation, the author immediately re-operated according to the tips of the staff of the securities company, and changed the purchase quantity to 1 1 (hand), and other contents remained unchanged. Unexpectedly, the system prompts again that "this kind of securities is prohibited from buying and selling." Helpless, I had to consult the securities company again. The staff asked, "Are you buying or selling?" I said, of course it's my treat. The waiter said, "Try it." Therefore, the author re-operates according to the way of selling stocks. When the selling price 100 and available balance 1 1 are displayed, enter the selling quantity 1 1 to complete the transaction. However, the information displayed in the system still puzzles the author: it is obviously a purchase, but the transaction can only be completed in the selling state. Obviously, the price is automatically displayed as 100, but you need to enter 1 1 (hand unit). Also, the transactions of the day are shown as: buying, quantity 1 1, deduction 1 1000, but the average price shows 100, and the amount shows 1 100, which is different from the actual deduction. Moreover, after the subscription is deducted, there is neither the balance of "XX convertible bonds" nor the deduction in the account, and it feels that the subscription money paid by investors is "missing".

Suggestion: Check for leaks and fill gaps, and solve the problems existing in the trading system as soon as possible. No matter whether the problem lies in the trading system of securities companies or the exchange system, the relevant departments should further strengthen the software testing and potential risk investigation of the trading system, take measures to solve the problem in the bud, prevent and avoid the occurrence of securities trading accidents and disputes, and ensure the safety of securities trading and the smooth progress of investment trading.