SDF(SH:605006) Shang Hai Zheng Quan Bao·2025-04-22 19:59Core Viewpoint - Shandong Glass Fiber Group Co., Ltd. has decided not to adjust the conversion price of its convertible bonds ("Shanbo Convertible Bonds") for the next six months, despite the possibility of triggering conditions for a downward adjustment [1][9]. Summary by Sections Convertible Bond Issuance Overview - The company issued 600,000 convertible bonds with a total value of RMB 60 million, approved by the China Securities Regulatory Commission on November 8, 2021 [2]. - The bonds began trading on the Shanghai Stock Exchange on December 6, 2021, under the code "111001" [2]. Conversion Price Adjustment History - The initial conversion price was set at RMB 13.91 per share, adjusted to RMB 11.50 due to a 2021 annual equity distribution [4]. - Subsequent adjustments brought the conversion price to RMB 11.23 on May 25, 2023, and further to RMB 11.13 and RMB 11.12 due to stock incentive plans [5][6]. - As of now, the conversion price stands at RMB 11.07 per share [7]. Downward Adjustment Conditions - The conditions for a downward adjustment of the conversion price require that the stock price be below 85% of the current conversion price for at least 15 out of 30 consecutive trading days [8]. - If triggered, the board must convene to decide on the adjustment, which requires a two-thirds majority approval from shareholders [8]. Recent Developments - From April 9 to April 22, 2025, the stock price has been below the conversion price threshold, indicating a potential trigger for adjustment [9]. - On October 8, 2024, the board decided not to adjust the conversion price and will reassess after the six-month period [10].