BSP(SZ:000761) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-12-01 23:17Core Viewpoint - The company is potentially facing a downward adjustment of the conversion price for its convertible bonds due to its stock price falling below a specified threshold over a consecutive trading period [2][9]. Group 1: Convertible Bond Issuance - The company issued 68 million convertible bonds with a total value of 6.8 billion yuan, which began trading on August 4, 2020 [3]. - The initial conversion price was set at 5.03 yuan per share, with the conversion period running from January 4, 2021, to June 28, 2026 [3]. Group 2: Conversion Price Adjustments - The conversion price has been adjusted multiple times due to the company's equity distribution plans, currently standing at 3.95 yuan per share as of the latest announcement [4][5]. - Adjustments occurred on July 19, 2021 (to 5.02 yuan), October 13, 2021 (to 4.55 yuan), and June 16, 2022 (to 3.95 yuan) [4]. Group 3: Downward Adjustment Conditions - The company’s board has the authority to propose a downward adjustment of the conversion price if the stock price falls below 85% of the current conversion price for at least ten out of twenty consecutive trading days [7]. - If the conditions for a downward adjustment are met, the company will hold a board meeting to decide on the adjustment and disclose the decision promptly [9].