CNANO(SH:688116) Shang Hai Zheng Quan Bao·2025-07-01 19:00Core Viewpoint - Jiangsu Tiannai Technology Co., Ltd. has reported minimal conversion of its convertible bonds "Tiannai Convertible Bonds" into shares, indicating low investor interest in converting these bonds into equity [2][9]. Group 1: Convertible Bond Issuance and Conversion - The company issued 8.3 million convertible bonds with a total value of RMB 83 million on January 27, 2022, with a maturity of six years [3]. - As of June 30, 2025, a total of RMB 60,000 has been converted into 567 shares, representing only 0.000244% of the total shares issued before conversion [2][9]. - The remaining unconverted bonds amount to RMB 829,940,000, which is 99.9928% of the total issuance [2][9]. Group 2: Conversion Price Adjustments - The initial conversion price was set at RMB 153.67 per share, adjusted to RMB 153.60 on July 5, 2022, and further adjusted to RMB 153.43 on December 21, 2022 [4][5]. - Subsequent adjustments have brought the conversion price down to RMB 99.11 as of June 30, 2024, due to various equity distribution plans [8]. Group 3: Share Capital Changes - The company increased its total share capital from 344,741,494 shares to 366,415,836 shares following the issuance of 21,674,342 new shares on May 14, 2025 [10]. Group 4: Share Buyback Progress - The company approved a share buyback plan on January 10, 2025, with a maximum price of RMB 63.47 per share and a total buyback amount between RMB 50 million and RMB 100 million [12]. - As of June 30, 2025, the company has not yet initiated the buyback process [15].