TNP(SZ:300569) Zheng Quan Zhi Xing·2025-08-22 09:21Core Viewpoint - The company, Qingdao Tennen Heavy Industry Co., Ltd., has issued a notice regarding the potential downward adjustment of the conversion price for its convertible bonds, "Tennen Convertible Bonds," if the stock price continues to close below 90% of the current conversion price [1][7]. Group 1: Convertible Bond Basic Information - The company issued 7 million convertible bonds with a total value of 700 million RMB, each with a face value of 100 RMB, approved by the China Securities Regulatory Commission on October 21, 2020 [1]. - The bonds were listed on the Shenzhen Stock Exchange on November 25, 2020, under the name "Tennen Convertible Bonds" and the code "123071" [1]. Group 2: Conversion Price Adjustment History - The conversion price was adjusted multiple times, with the most recent adjustment on June 18, 2024, changing from 7.54 RMB/share to 7.47 RMB/share [5]. - Previous adjustments included a reduction from 7.68 RMB/share to 7.54 RMB/share on July 10, 2023, and from 7.76 RMB/share to 7.68 RMB/share on May 26, 2023 [3][4]. Group 3: Downward Adjustment Conditions - The downward adjustment of the conversion price can be triggered if the stock price closes below 90% of the current conversion price for at least 10 out of 20 consecutive trading days [6]. - If triggered, the company must hold a board meeting to decide on the adjustment and disclose the decision in a timely manner [7]. Group 4: Future Considerations - The next period for potential downward adjustment conditions will restart from February 3, 2025, if the conditions are met again [6]. - The company has decided not to propose a downward adjustment for the next six months, from February 18, 2025, to August 17, 2025 [6].