Jinko Power(SH:601778) Shang Hai Zheng Quan Bao·2025-06-09 20:04Core Viewpoint - Jinko Power Technology Co., Ltd. has decided not to adjust the conversion price of its convertible bonds, despite triggering the downward adjustment clause due to stock price performance [2][6]. Group 1: Convertible Bond Basic Information - The company issued 30 million convertible bonds with a total value of RMB 3 billion on April 23, 2021, with a maturity of six years and a face value of RMB 100 per bond [3]. - The initial conversion price was set at RMB 6.75 per share, which has been adjusted multiple times due to various corporate actions, currently standing at RMB 5.24 per share [4]. Group 2: Downward Adjustment Clause - As of June 9, 2025, the conversion price was triggered for downward adjustment as the stock price closed below 90% of the current conversion price for 15 trading days [5]. - The board of directors held a meeting on June 9, 2025, and decided not to exercise the downward adjustment right for the conversion price [6]. Group 3: Redemption Rights - Holders of the convertible bonds have the option to sell back part or all of their unconverted bonds at a price of RMB 100.27 per bond (including accrued interest) during the redemption period from June 17 to June 23, 2025 [9][11]. - The redemption price is calculated based on the bond's face value and the interest accrued for the relevant period [16]. Group 4: Trading and Suspension - During the redemption period, the convertible bonds will continue to trade, but conversion will be suspended [23]. - If the total face value of the bonds in circulation falls below RMB 30 million due to redemptions, trading will continue until the end of the redemption period [23].