JAFRON(SZ:300529) Zheng Quan Zhi Xing·2025-04-02 09:26Core Viewpoint - The announcement provides an update on the conversion of the company's convertible bonds, specifically the "Jianfan Convertible Bonds," detailing the current conversion price and the status of the bonds as of the first quarter of 2025 [1][7]. Group 1: Convertible Bond Issuance and Listing - The company issued 10 million convertible bonds with a total value of 1 billion RMB, each with a face value of 100 RMB, approved by the China Securities Regulatory Commission on June 23, 2021 [1][2]. - The bonds were listed on the Shenzhen Stock Exchange on July 21, 2021, under the name "Jianfan Convertible Bonds" and code "123117" [2]. Group 2: Conversion Price Adjustments - The initial conversion price was set at 90.60 RMB per share, which was adjusted to 90.57 RMB due to an increase in total share capital from stock options and restricted stock grants [2][3]. - Further adjustments were made, with the conversion price changing to 89.68 RMB after a cash dividend distribution and later to 89.51 RMB due to additional stock options and share repurchases [3][4]. - As of April 24, 2023, the conversion price was significantly reduced to 62.38 RMB, and subsequently adjusted to 61.72 RMB after another dividend distribution [4][5]. Group 3: Current Status of Convertible Bonds - As of the first quarter of 2025, the latest effective conversion price is 39.43 RMB per share, with 9,998,419 bonds remaining and a total face value of 999,841,900 RMB [7][8]. - There were no conversions of the bonds during the first quarter of 2025, resulting in no impact on the company's share capital structure [8].