Lushan New Materials(SH:603051) Zheng Quan Zhi Xing·2025-08-03 16:18Core Points - The company has completed the repurchase and cancellation of restricted stock and will adjust the conversion price of "Lushan Convertible Bonds" [1][6][7] - The conversion price has been adjusted from 22.93 CNY/share to 16.05 CNY/share, effective from August 8, 2025 [1][7] - The total amount of the convertible bonds issued is 524 million CNY, with a maturity of 6 years and a total of 5.24 million bonds issued at a price of 100 CNY each [1][2] Convertible Bonds Overview - The "Lushan Convertible Bonds" can be converted into shares from October 9, 2023, to March 26, 2029, with an initial conversion price of 59.08 CNY/share [2] - The bond's coupon rates are set to increase over the years, starting from 0.40% in the first year to 3.00% in the sixth year [1] Price Adjustment Details - The adjustment of the conversion price is based on the company's stock dividend distribution and the repurchase of restricted stocks [5][6] - The formula used for the adjustment is P1 = (P0 - D + A × k) / (1 + n + k), where P0 is the previous conversion price [4][6] - The adjustment results in a new conversion price of approximately 16.05 CNY/share after considering the repurchase and dividend distribution [6][7] Repurchase and Dividend Distribution - The company repurchased and canceled 361,200 shares of restricted stock at a price of 32.96 CNY/share, totaling approximately 11.91 million CNY [5][6] - The annual profit distribution plan includes a cash dividend of 4.0 CNY per 10 shares and a capital reserve increase of 4.0 shares for every 10 shares held [6]