Canatal(SH:603912) Zheng Quan Zhi Xing·2025-07-10 16:21Core Points - The company announced a downward adjustment of the conversion price for its convertible bonds, "Jialitu Convertible Bonds," from 10.63 CNY/share to 8.68 CNY/share, effective from July 14, 2025 [1][8] - The adjustment was made due to the stock price being below 85% of the current conversion price for a significant number of trading days [6][7] - The company held a board meeting on June 18, 2025, and a shareholder meeting on July 10, 2025, to approve the proposal for the price adjustment [6][7] Convertible Bond Details - The initial conversion price of "Jialitu Convertible Bonds" was set at 23.40 CNY/share, with subsequent adjustments made over the years [2][3] - The bond has a total issuance amount of 300 million CNY, with a maturity period of 6 years and a tiered interest rate structure [2] - The bond was first convertible into shares on February 5, 2021, and has undergone several price adjustments since then [2][3] Adjustment Process - The adjustment process requires that the board proposes a downward revision if the stock price remains below the specified threshold for a certain period, which must then be approved by shareholders [5][6] - The average trading price of the company's stock over the 20 trading days prior to the shareholder meeting was 8.54 CNY/share, which influenced the decision for the new conversion price [7]