Qingdao Gaoce(SH:688556) Shang Hai Zheng Quan Bao·2025-05-07 20:16Core Viewpoint - The company, Qingdao High Test Technology Co., Ltd., is likely to trigger the downward adjustment of the conversion price for its convertible bonds due to the stock price being below 85% of the current conversion price for 10 consecutive trading days [2][10]. Group 1: Convertible Bond Details - The initial conversion price for the convertible bonds was set at 84.81 yuan per share, which was adjusted to 60.33 yuan on May 12, 2023, and further adjusted to 60.03 yuan on June 7, 2023, and then to 59.51 yuan on June 29, 2023 [3][4][6]. - The total issuance of the convertible bonds amounted to 483.3 million bonds, with a total value of 48.33 million yuan, and the bonds have a maturity period from July 18, 2022, to July 17, 2028 [3][5]. Group 2: Price Adjustment Conditions - The company may adjust the conversion price if the stock price remains below 30.31 yuan for 10 consecutive trading days, which is 85% of the current conversion price [2][10]. - The adjustment process requires the board of directors to propose a price adjustment plan, which must be approved by at least two-thirds of the voting rights at a shareholders' meeting [8][9]. Group 3: Future Price Adjustments - Future adjustments to the conversion price are scheduled, with the next adjustment set for November 27, 2023, when the price will be adjusted to 58.51 yuan per share [6]. - The conversion price will further adjust to 36.29 yuan on May 8, 2024, and to 36.04 yuan on June 19, 2024, following the completion of specific stock incentive plans [7].