PIESAT(SH:688066) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-12-09 03:14Core Viewpoint - The company has decided not to lower the conversion price of its convertible bonds, despite triggering conditions for a downward adjustment due to stock price performance [2][8]. Group 1: Convertible Bond Issuance and Terms - The company issued 10.088 million convertible bonds on November 28, 2022, with a total fundraising amount of RMB 1,008.80 million [3]. - The initial conversion price was set at RMB 88.91 per share, which was adjusted to RMB 88.62 on January 13, 2023, and further adjusted to RMB 63.20 on May 30, 2023 [4]. - As of August 7, 2023, the cumulative conversion of the bonds resulted in a change in the company's share capital from 259,946,793 shares to 259,946,870 shares [4]. Group 2: Decision on Conversion Price Adjustment - As of December 8, 2025, the company's stock price had triggered conditions for a downward adjustment of the conversion price, as it had been below 85% of the current conversion price for 15 out of 30 trading days [2][8]. - The board of directors held a meeting on December 8, 2025, and unanimously decided not to adjust the conversion price, with a vote of 9 in favor and none against [8]. - The company will not propose a downward adjustment for the next month, and any future triggers for adjustment will be reassessed starting January 9, 2026 [8].