乐山巨星农牧股份有限公司关于不向下修正“巨星转债”转股价格的公告

Core Viewpoint - The company has decided not to adjust the conversion price of its convertible bonds, despite triggering conditions for a downward adjustment due to stock price performance [2][9]. Group 1: Convertible Bond Basic Information - The company issued convertible bonds totaling 1 billion yuan (100 million shares) on April 25, 2022, with a face value of 100 yuan per bond and a maturity of 6 years [3]. - The bonds were listed on the Shanghai Stock Exchange on May 17, 2022, under the name "Juxing Convertible Bonds" and code "113648" [4]. Group 2: Conversion Price Adjustment - The initial conversion price was set at 25.24 yuan per share, which was adjusted to 25.21 yuan on August 8, 2023, following a profit distribution plan [5]. - A further adjustment occurred on June 17, 2025, lowering the conversion price to 25.04 yuan [6]. Group 3: Triggering of Downward Adjustment Clause - As of November 24, 2025, the company's stock price had been below 80% of the current conversion price for at least 15 out of the last 30 trading days, triggering the downward adjustment clause [2][8]. Group 4: Decision on Downward Adjustment - The company's board of directors held a meeting on November 24, 2025, and decided not to adjust the conversion price, citing confidence in the company's future and intrinsic value [9][12]. - The period for the next potential triggering of the conversion price adjustment will restart from the day after the board meeting [9][14].