什么叫做可转债申购：中英文双语解读

中文段落：

可转债申购，即投资者在可转债发行期间，通过证券交易所或其他指定渠道，按照规定的价格和条件，购买新发行的可转换债券的行为。可转债，作为一种特殊的债券品种，赋予了持有者在一定条件下将其转换为发行公司股票的权利。这种转换权的存在使得可转债在投资市场上具有独特的魅力。

可转债申购的过程相对简单。投资者首先需要了解可转债的发行信息，包括发行主体、发行规模、转换价格、转换期限等关键要素。在发行期间，投资者通过证券交易所或指定的网上申购平台，按照规定的申购数量和价格进行申购。一旦申购成功，投资者将成为可转债的持有者，享有相应的利息收益和转换权利。

可转债申购的风险与收益并存。一方面，可转债的利息收益通常高于普通债券，同时转换权利的存在为投资者提供了股价上涨时的潜在收益。另一方面，可转债的价格受多种因素影响，包括市场利率、股价波动、公司业绩等，投资者需要承担一定的价格波动风险。

**英文段落：

Convertible bond subscription refers to the act of investors purchasing newly issued convertible bonds through stock exchanges or other designated channels during the bond's issuance period, at the prescribed price and conditions. As a special type of bond, convertible bonds grant holders the right to convert them into the issuer's stock under certain conditions. This conversion right赋予s convertible bonds a unique charm in the investment market.

The process of convertible bond subscription is relatively simple. Investors need to first understand the issuance information of the convertible bond, including key elements such as the issuer, issuance size, conversion price, and conversion term. During the issuance period, investors subscribe through stock exchanges or designated online subscription platforms, following the prescribed subscription quantity and price. Once the subscription is successful, investors become holders of the convertible bond, entitled to corresponding interest income and conversion rights.

Convertible bond subscription involves both risks and rewards. On one hand, the interest income of convertible bonds is usually higher than that of ordinary bonds, and the existence of conversion rights provides investors with potential returns when stock prices rise. On the other hand, the price of convertible bonds is affected by various factors, including market interest rates, stock price fluctuations, and company performance. Investors need to bear a certain degree of price fluctuation risk.

综上所述，可转债申购为投资者提供了一种兼具固定收益和股票增值潜力的投资选择。在申购前，投资者应充分了解可转债的特性和风险，制定合理的投资策略，以实现风险和收益的平衡。