Zhongzhuang Construction(SZ:002822) Zheng Quan Zhi Xing·2025-05-20 13:37Group 1 - The company has decided to lower the conversion price of its convertible bonds due to the stock price being below 85% of the current conversion price for at least 15 trading days within a 30-day period [1][2] - The new conversion price is set at RMB 4.80 per share, which complies with the requirements of being higher than the average trading price of the stock over the previous 20 trading days and the latest audited net asset value per share [2] - The adjustment to the conversion price will take effect on May 21, 2025, following the approval from the board and the shareholders' meeting [2][3] Group 2 - The company issued 11.6 million convertible bonds with a total value of RMB 116 million, which were approved by the China Securities Regulatory Commission [1] - The bondholders must abstain from voting during the shareholders' meeting regarding the adjustment of the conversion price [2] - The board's decision aims to protect the interests of bondholders and optimize the company's capital structure for long-term development [1][2]