QRCB(SZ:002958) Zheng Quan Zhi Xing·2025-07-01 16:41Summary of Key Points Core Viewpoint - Qingdao Rural Commercial Bank has reported the results of its convertible bond conversion and share changes for the second quarter of 2025, indicating limited conversion activity and adjustments to the conversion price over time [1][2][4]. Group 1: Convertible Bond Conversion Status - As of June 30, 2025, a total of RMB 310,100 worth of Qingnong convertible bonds have been converted into 63,685 shares, representing 0.0011% of the total issued ordinary shares prior to conversion [1]. - The remaining balance of unconverted Qingnong convertible bonds as of June 30, 2025, is RMB 49,996,899 [4]. Group 2: Convertible Bond Issuance Overview - The bank issued 50 million convertible bonds on August 25, 2020, with a face value of RMB 100 each, totaling RMB 5 billion, and an initial conversion price of RMB 5.74 per share [1][2]. - The conversion price has been adjusted multiple times due to annual profit distributions, with the latest adjustment reducing the price from RMB 4.12 to RMB 4.00 per share, effective from July 9, 2025 [4]. Group 3: Share Changes - From April 1, 2025, to the end of the second quarter, the number of shares decreased by 20 due to bond conversions, resulting in a total share count of 5,555,619,241 as of June 30, 2025 [5]. - The proportion of unrestricted circulating shares remained stable at 88.91% despite the minor changes in total share count [5].