Proya(SH:603605) Shang Hai Zheng Quan Bao·2025-11-07 21:14Core Viewpoint - The company, Proya Cosmetics Co., Ltd., has announced that its convertible bond, "Proya Convertible Bond," is expected to meet the conditions for a price adjustment due to various corporate actions affecting its stock price [1][10]. Group 1: Convertible Bond Issuance Overview - The company issued 7,517,130 convertible bonds on December 8, 2021, with a total value of 75,171.30 million yuan, at a face value of 100 yuan each, with a maturity of six years [1]. - The coupon rates for the bonds are structured to increase over the years, starting from 0.30% in the first year to 2.00% in the sixth year [1]. Group 2: Price Adjustment History - The initial conversion price was set at 195.98 yuan per share, which has been adjusted multiple times due to corporate actions: - Adjusted to 139.37 yuan on May 30, 2022, following the 2021 annual equity distribution [2]. - Adjusted to 138.92 yuan on September 9, 2022, due to the completion of a stock incentive plan [3]. - Adjusted to 98.61 yuan on May 29, 2023, after the 2022 annual equity distribution [4]. - Adjusted to 98.62 yuan on August 29, 2023, following the completion of stock repurchase [5]. - Adjusted to 98.24 yuan on October 23, 2023, due to the 2023 semi-annual equity distribution [6]. Group 3: Price Adjustment Mechanism - The bond's conversion price can be adjusted downward if the company's stock price falls below 85% of the current conversion price for at least 15 out of 30 consecutive trading days [8]. - The adjustment requires approval from the shareholders, with specific conditions on the minimum price after adjustment [9]. Group 4: Future Price Adjustment Conditions - The company has decided not to adjust the conversion price for the next six months, even if the conditions for adjustment are met [10]. - The next evaluation period for potential price adjustment will begin on October 27, 2025, with specific thresholds outlined for triggering the adjustment [11].