Research On The Financial Effect Of Convertible Bonds Issued By Ningbo Marine

With the improvement of China’s financial system and the progress of the capital market,enterprises facing financing needs have many types of financing channels to choose from.Among many financing channels,convertible bonds,as a special financing method that integrates equity financing and debt financing,are not only favored by more and more companies,but also welcomed by investors.Compared to the mature capital markets in the West,China’s convertible bond market has developed late and is relatively small,and convertible bonds have not yet become mainstream financing channels.Correspondingly,targeted research based on actual domestic conditions is not yet abundant.Therefore,the study of domestic convertible bond financing cases has certain practical significance.This article selects a representative shipping company,Ningbo Marine,as a case for analysis.Shipping is the most important mode of transportation in international trade.It has features such as large transport volume,low freight rates,and access to waterways.Over 90% of China’s import and export goods are transported by sea.It can be said that shipping is one of the drivers of the national economy.Ningbo Ocean Shipping issued convertible bonds at the beginning of 2011-sea bond,this article analyzed the relevant background information of the sea bond,and used SWOT model,event research method,economic value added(EVA)and other methods and indicators.A variety of studies to explore its impact on the company’s financial performance,operating activities,capital structure and stock prices.This article is divided into five chapters: The first chapter is the introduction,introduces the research background,significance and methods of this article;chapter two summarizes the relevant theories,concepts and research results of the predecessors;chapter three is about the case.Introduction,including case companies,industry overviews,convertible bond-related information,etc.The fourth chapter is a case analysis.This section analyzes the causes,risks,scale,timing,and costs of the issuance of the sea bond,and on this basis,it combines the company’s financial data,using basic financial performance indicators and economic value added.The index analyzes the impact of convertible bond issuance on corporate financial performance.Chapter 5 is the conclusion and inspiration of this paper.It concludes by integrating the results of previous studies and suggests inspiration to the industry.Through the above research,this article concludes the following conclusions: 1.Concerning the situation of Ningbo Marine,the convertible bond is the most suitable financing method;2.There is a series of inevitable risks in the issuance of convertible bonds by Ningbo Marine;3.Ocean Shipping The issuance and transfer of convertible bonds have a positive effect on the overall financial capabilities of the company;4.The offshore operating bonds failed to bring about a significant increase in operating performance of Ningbo Ocean Shipping.