CJJG(SH:600496) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-05-06 23:05Core Viewpoint - The company announced an adjustment to the conversion price of its convertible bonds due to the completion of share buybacks and cancellations, effective from May 8, 2025, with the new conversion price set at 4.87 CNY per share, up from the previous 4.86 CNY per share [1][9][10]. Group 1: Convertible Bond Details - The company issued 20 million convertible bonds on April 22, 2022, with a total value of 2 billion CNY and a maturity of 6 years [1][2]. - The initial conversion price was set at 5.00 CNY per share, which has been adjusted multiple times due to equity distributions, with the latest adjustment prior to the current one being to 4.86 CNY per share [2][4]. Group 2: Share Buyback and Cancellation - The company approved a change in the purpose of previously repurchased shares from employee stock ownership plans to cancellation to reduce registered capital, resulting in the cancellation of 22,766,035 shares [6][11]. - Following the cancellation, the registered capital will decrease from 2,012,890,171 CNY to 1,990,124,136 CNY, and the total share count will reduce correspondingly [11][12]. Group 3: Price Adjustment Formula - The adjustment of the conversion price is based on a formula that accounts for share buybacks and other equity changes, ensuring that the interests of convertible bondholders are protected [3][5][8]. - The new conversion price calculation resulted in an increase to 4.87 CNY per share, reflecting the impact of the share buyback [9].