CJJG(SH:600496) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-07-31 23:15Core Points - The company has issued convertible bonds with a total amount of RMB 2 billion, with a maturity of 6 years and a tiered interest rate structure [3] - The initial conversion price of the bonds was set at RMB 5.00 per share, which has been adjusted multiple times due to equity distributions [4] - There is a potential trigger for a downward adjustment of the conversion price due to the stock price being below 80% of the current conversion price for 10 trading days [2][7] Convertible Bonds Overview - The company issued 20 million convertible bonds at a face value of RMB 100 each, totaling RMB 2 billion, approved by the China Securities Regulatory Commission [3] - The bonds are listed on the Shanghai Stock Exchange under the name "精工转债" with the code "110086" [3] - The conversion period for these bonds is from October 28, 2022, to April 21, 2028 [3] Conversion Price Adjustment Mechanism - The conversion price can be adjusted downward if the stock price falls below 80% of the conversion price for 15 out of 30 consecutive trading days [5] - The adjusted conversion price must not be lower than the higher of the average stock price over the 20 trading days prior to the shareholders' meeting and the previous trading day's price [5] - The company is required to hold a board meeting to decide on the adjustment and disclose the decision promptly [7] Current Situation - As of July 18 to July 31, 2025, the company's stock price has been below the threshold of RMB 3.83 for 10 trading days, indicating a potential for triggering the conversion price adjustment [2][6][7] - If the conditions are met in the next 20 trading days, the company will need to convene a board meeting to discuss the adjustment [7]