SUNOREN(SH:603105) Shang Hai Zheng Quan Bao·2025-09-18 20:44Core Viewpoint - Zhejiang Xinneng Photovoltaic Technology Co., Ltd. ("the company") has announced that its convertible bond, "Xinneng Convertible Bond," is expected to trigger conditions for a downward adjustment of the conversion price due to the stock price being below 85% of the current conversion price for ten consecutive trading days [2][9]. Group 1: Convertible Bond Issuance Overview - The company issued 8.80 billion yuan worth of convertible bonds on October 26, 2023, with a maturity of six years and a tiered interest rate starting from 0.30% in the first year to 2.50% in the sixth year [3]. - The initial conversion price was set at 13.10 yuan per share, with the first conversion date starting from May 6, 2024, until October 25, 2029 [3][5]. Group 2: Conversion Price Adjustment Conditions - The current conversion price is 12.75 yuan per share, which may be adjusted downward if the stock price remains below 85% of the conversion price for a specified period [4][5]. - The company has the authority to propose a downward adjustment of the conversion price if the stock price conditions are met, requiring a two-thirds majority approval from shareholders [6]. Group 3: Recent Trigger Conditions - From September 5 to September 18, 2025, the company's stock price has been below 10.8375 yuan (85% of the current conversion price) for ten consecutive trading days [2][9]. - If the stock price continues to meet the conditions for five trading days within the next twenty trading days, the company will convene a board meeting to decide on the adjustment of the conversion price [2][9].