LETS(SZ:002398) Zheng Quan Zhi Xing·2025-09-04 11:14Core Viewpoint - The company has decided not to lower the conversion price of the "Leizhi Convertible Bonds" despite the stock price being below the current conversion price during the specified trading period [2][11]. Group 1: Convertible Bond Issuance and Pricing - The company was approved to issue convertible bonds with a net fundraising amount of RMB 390,460,551.88 after deducting issuance costs [2]. - The convertible bonds were listed on the Shenzhen Stock Exchange on May 20, 2022, with the bond code "127062" [3]. - The conversion period for the bonds is from October 27, 2022, to April 20, 2028 [3]. Group 2: Conversion Price Adjustments - The initial conversion price was set at RMB 7.74 per share, effective from June 8, 2022 [3]. - Subsequent adjustments to the conversion price occurred, with the latest adjustment setting the price at RMB 7.67 per share, effective from May 12, 2023 [6]. - The company has a mechanism for adjusting the conversion price if the stock price falls below 85% of the current conversion price for a specified period [10]. Group 3: Board Decision on Conversion Price - The board of directors decided not to exercise the option to lower the conversion price, considering the company's fundamentals, stock price trends, and market conditions [11]. - The board will reassess the situation after September 5, 2025, if the stock price triggers the conditions for a downward adjustment again [11].