QIFAN(SH:605222) Shang Hai Zheng Quan Bao·2025-07-31 18:03Group 1 - The company held its 40th meeting of the third board of directors on July 31, 2025, with all 9 directors present, and the meeting complied with the Company Law and the Articles of Association [2][3][4] - The board reviewed and approved the proposal not to adjust the conversion price of the "Qifan Convertible Bonds" downwards, despite triggering conditions for adjustment due to stock prices being below 85% of the current conversion price for 15 out of 30 trading days [3][8][15] - The next period for potential adjustment of the conversion price will be recalculated starting from August 1, 2025, and the board will reconvene if further triggering conditions arise [3][8][15] Group 2 - The "Qifan Convertible Bonds" were issued on May 24, 2021, with a total of 10 million bonds at a face value of 100 yuan each, amounting to a total of 1 billion yuan, with a maturity of 6 years and a tiered interest rate structure [9][10] - The initial conversion price was set at 20.53 yuan per share, which has been adjusted multiple times due to corporate actions, with the latest adjustment bringing it to 19.55 yuan per share effective from July 10, 2025 [11][12][15] - The conversion price adjustment clause allows for downward adjustments if the stock price conditions are met, requiring a two-thirds majority approval from shareholders at a general meeting for implementation [14][15]