Chipsea(SH:688595) Shang Hai Zheng Quan Bao·2025-04-11 20:37Core Viewpoint - The company, Chipsea Technology (Shenzhen) Co., Ltd., is expected to trigger a downward adjustment of the conversion price for its convertible bonds due to its stock price being below 85% of the current conversion price for 10 consecutive trading days [2][9]. Group 1: Convertible Bond Issuance - The company issued 4.1 million convertible bonds with a face value of 100 RMB each, raising a total of 4.1 billion RMB, with a net amount of approximately 401.96 million RMB after expenses [2][3]. - The convertible bonds were approved by the China Securities Regulatory Commission and began trading on August 18, 2022, under the name "Chipsea Convertible Bonds" and code "118015" [3][4]. Group 2: Conversion Price and Adjustment - The initial conversion price was set at 56.00 RMB per share, which was adjusted to 55.71 RMB per share on October 27, 2022, and further adjusted to 55.68 RMB on January 17, 2023, due to stock incentive plan adjustments [5][6]. - The current conversion price is 55.67 RMB per share, effective from December 14, 2023 [6]. Group 3: Downward Adjustment Conditions - The company may adjust the conversion price downwards if the stock price remains below 85% of the conversion price for at least 15 out of 30 consecutive trading days [9]. - If the conditions for adjustment are met, the board will convene to decide on the adjustment and disclose the decision promptly [9][8].