Zhongzhuang Construction(SZ:002822) Zheng Quan Zhi Xing·2025-07-01 16:40Summary of Key Points Core Viewpoint - Shenzhen Zhongzhuang Construction Group Co., Ltd. announced the adjustment of the conversion price for its convertible bonds "Zhongzhuang Zhuan 2" to 4.80 RMB per share, effective from May 21, 2025, following a series of adjustments due to market conditions and company decisions [1][5]. Convertible Bond Issuance Overview - The company issued 1,160 million RMB of convertible bonds on April 16, 2021, which began trading on May 24, 2021, under the code "127033" [1]. - The initial conversion price was set at 6.33 RMB per share, which was later adjusted to 6.28 RMB per share after a cash dividend distribution [2]. Conversion Price Adjustments - The conversion price was adjusted multiple times due to various factors, including cash dividends and market performance: - Adjusted to 6.31 RMB on April 28, 2022 [3]. - Further adjusted to 6.29 RMB on July 21, 2022 [3]. - Adjusted down to 5.14 RMB on December 30, 2022, due to stock price performance [4][5]. - Finally adjusted to 4.80 RMB on May 21, 2025 [5]. Share Capital Changes - As of June 30, 2025, the remaining amount of "Zhongzhuang Zhuan 2" was 1,050,864,300 RMB, with a total of 5,464 shares converted into common stock [6]. - The total share capital increased from 734,671,821 to 734,677,285 shares following the conversion [6]. Company Governance - The adjustments to the conversion price and the issuance of convertible bonds were approved by the company's board and shareholders in accordance with regulatory requirements [1][4][5].