News from our website (Shanghai Securities News Huang Bo)

In the morning trading on the 21st, the warrants in the two markets rose less and fell more. By the early closing, all trading varieties rose 15%. Due to the diving before the closing of Shanggang CWB1 (580020. sh), its growth narrowed to 2.14%, which was overtaken by Steel Vanadium GFC1 (031002. sz) with a growth of 2.40%, ranking No. 2 in the growth list. The other rising variety was Guodian CWB1 (580022. sh), with a growth of only 0.49%. Due to the weakness of positive shares, ZTE CWB1 (031006) opened lower and moved lower, leading the decline of warrants in both markets by 8.63%. In addition, except Gezhou CWB1 (580025. sh), which declined by 1.78%, other varieties fell by more than 3.0%.

The market said that, based on the current situation, the possibility of Panzhihua Iron and Steel's restructuring to be completed before the exercise of warrants was basically gone. At the current valuation level of steel vanadium GFC1, the arbitrage space is about 15%. However, judging from the current situation, the reorganization process may also be delayed.