BEIJING TELESOUND ELECTRONICS CO.(SZ:003004) Zheng Quan Zhi Xing·2025-05-27 12:23Core Viewpoint - The company has decided not to adjust the conversion price of its convertible bonds despite triggering the downward adjustment clause due to stock prices falling below 85% of the current conversion price [4][5]. Group 1: Convertible Bond Issuance - The company issued 2.8 million convertible bonds with a total value of 280 million yuan, approved by the China Securities Regulatory Commission [1]. - The bonds were listed on the Shenzhen Stock Exchange on February 10, 2023, under the name "声迅转债" and code "127080" [2]. Group 2: Conversion Price Adjustments - The initial conversion price was set at 29.34 yuan per share, which was adjusted to 29.14 yuan following a cash dividend distribution of 0.2 yuan per share [2][3]. - A further adjustment will take the conversion price down to 28.94 yuan per share effective from June 4, 2024 [3]. Group 3: Downward Adjustment Clause - The downward adjustment clause is triggered if the stock price is below 85% of the conversion price for at least 15 out of 30 consecutive trading days [4]. - The board has the authority to propose a downward adjustment, which requires a two-thirds majority approval from shareholders [4]. Group 4: Decision on Adjustment - As of May 27, 2025, the stock price had triggered the downward adjustment clause, but the board decided not to proceed with the adjustment [5]. - The company will reassess the situation if the clause is triggered again after May 28, 2025 [5].