Zheng Quan Zhi Xing·2025-07-04 16:22Core Viewpoint - The company has decided not to exercise the downward adjustment of the conversion price for its convertible bonds, despite triggering conditions being met due to stock price performance [4][9]. Group 1: Convertible Bond Issuance - The company issued 35 million convertible bonds with a face value of 100 yuan each, totaling 3.5 billion yuan, approved by the China Securities Regulatory Commission [1]. - The bonds were listed on the Shanghai Stock Exchange on July 8, 2021, under the name "长汽转债" and code "113049" [1]. Group 2: Conversion Price Details - The initial conversion price was set at 38.39 yuan per share, which has undergone several adjustments since issuance [2][3]. - The current conversion price is 39.61 yuan per share, with a history of adjustments due to various corporate actions [2][3][5]. Group 3: Downward Adjustment Conditions - The downward adjustment clause was triggered as the company's A-share stock price was below 85% of the current conversion price for at least 15 trading days within a 30-day period [4][9]. - The board of directors has decided not to exercise the right to adjust the conversion price downward at this time, citing confidence in the company's long-term potential and market conditions [9]. Group 4: Future Considerations - The board will not propose a downward adjustment for the next six months, from July 5, 2025, to January 4, 2026, even if the conditions are met again [9]. - After this six-month period, if the conditions are triggered again, the board will reconvene to decide on the adjustment [9].