convertible-bond skillA
convertible-bond is agent-read markdown (skill) from hkuds/vibe-trading: A股可转债分析——转股/纯债/期权三维估值、下修/强赎/回售博弈、双低策略与转债轮动选债框架.
Indexed from public GitHub and served as immutable, content-addressed versions. Install it pinned to an exact SHA-256 with the mdr CLI, and every file is verified before it reaches your agent: the main file against the SHA-256 recorded here, the others against the git hashes of its source commit. The deterministic audit below grades the latest version, and the same checks always give the same file the same grade.
What the file says
# A股可转债分析
## 概述
A股可转债是具有"债底保护+股票期权"特征的混合品种。本skill覆盖可转债三维估值、条款博弈分析、双低策略和轮动选债框架。
## 可转债基础概念
### 核心要素
| 要素 | 说明 | 示例 |
|------|------|------|
| 面值 | 100元 | - |
| 票面利率 | 递增，通常0.3%-2.0% | 第1年0.4%...第6年2.0% |
| 转股价 | 转换成股票的价格 | 转股价15.00元 |
| 到期期限 | 通常6年 | 2024-2030 |
| 到期赎回价 | 面值+最后一年利息+补偿 | 110-115元 |
| 回售条款 | 股价持续低于转股价70%可回售 | 连续30个交易日中30天<70% |
| 强赎条款 | 股价持续高于转股价130%可强赎 | 连续30个交易日中15天>130% |
| 下修条款 | 可以下调转股价 | 连续30个交易日中15天<85% |
### 关键指标
```
转股价值 = 面值 / 转股价 × 正股价格
= 100 / 15.00 × 18.00 = 120.00元
转股溢价率 = (转债价格 - 转股价值) / 转股价值 × 100%
= (125 - 120) / 120 × 100% = 4.17%
纯债价值 = Σ(票息 / (1+r)^t) + 到期赎回价 / (1+r)^n
≈ 85-95元（取决于剩余期限和利率）
纯债溢价率 = (转债价格 - 纯债价值) / 纯债价值 × 100%
```
## 三维估值体系
### 1. 纯债价值（债底）
```python
def bond_floor(coupon_rates: list, years_remaining: float,
redemption_price: float = 110, yield_rate: float = 0.03) -> float:
"""
Args:
coupon_rates: 剩余各年票面利率列表，如 [0.8, 1.0, 1.5, 2.0]
years_remaining: 剩余年限
redemption_price: 到期赎回价
yield_rate: 折现率（同期信用债收益率，约2.5-4%）
Returns:
纯债价值
"""
pv = sum(c * 100 / (1 + yield_rate)**i for i, c in enumerate(coupon_rates, 1))
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How to install
mdr add hkuds/vibe-trading/convertible-bond@git:20260409.27354ebmdr add hkuds/vibe-trading/convertible-bond@sha256:7c21db59250517e0Pin to a label to follow the author's releases, or to a sha256 for exact bytes. Either way the resolved hash is written to mdr.lock, and mdr install fetches those bytes again and checks them, so it installs them exactly or fails.
[](https://markdownregistry.com/a/art_3xfbq26lc5peaehc)
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Versions
| version | committed | commit | size | audit | |
|---|---|---|---|---|---|
| git:20260409.27354eb latest | 2026-04-09 | 27354eb | 8,047 B | A | view · diff |
| git:20260401.34eae37 | 2026-04-01 | 34eae37 | 8,025 B | A | view |
Audit of the latest version
- pass: Frontmatter block present
- pass: Frontmatter declares a name
- pass: Frontmatter declares a description
- pass: Size between 200 bytes and 200 KB (8047 bytes)
- pass: No zero-width or bidi control characters
- pass: No instruction hidden inside an HTML comment
- pass: No link to an exfiltration or paste host
- pass: No credential-shaped string
- pass: No instruction to send local credentials anywhere
- pass: No text hidden with inline styles
- pass: No prompt-injection phrasing
- pass: No curl or wget piped into a shell
- pass: No recursive delete of root, home or parent
- pass: No instruction to read or print local credentials
- pass: No base64 blob over 200 characters
- pass: No link to a raw IP address
- pass: No script tag
Source
hkuds/vibe-trading · 34,089 stars · license MIT · pushed 2026-09-27 · branch main
API
GET https://markdownregistry.com/api/v1/artifacts/art_3xfbq26lc5peaehc GET https://markdownregistry.com/api/v1/resolve?ref=hkuds/vibe-trading/convertible-bond GET https://markdownregistry.com/api/v1/blob/7c21db59250517e03bc1178e6427c11e7145c9095c880a5388648a076b302f69
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