Shang Hai Zheng Quan Bao·2026-01-05 18:13Core Viewpoint - The announcement provides an update on the conversion status of the company's convertible bonds, indicating minimal conversion activity since the bonds were issued, with a significant majority remaining unconverted. Group 1: Conversion Status - As of December 31, 2025, the total amount converted from the "Shanlu Convertible Bonds" since the conversion period began on October 9, 2023, is 103,100.00 yuan, resulting in 12,965 shares converted, which represents 0.0008% of the company's total shares before conversion [2] - The amount of unconverted "Shanlu Convertible Bonds" as of December 31, 2025, is 4,835,896,900.00 yuan, accounting for 99.9979% of the total issuance [2] - In the fourth quarter of 2025, the conversion amount was 2,000.00 yuan, leading to the conversion of 262 shares [10] Group 2: Bond Issuance and Listing - The company issued 48,360,000 convertible bonds on March 24, 2023, with a total value of 483,600.00 million yuan, each with a face value of 100.00 yuan and a maturity of six years [2][3] - The bonds were listed on the Shenzhen Stock Exchange on April 26, 2023, under the name "Shanlu Convertible Bonds" with the code "127083" [3] Group 3: Conversion Price Adjustments - The initial conversion price was set at 8.17 yuan per share, which was adjusted to 8.01 yuan on June 29, 2023, due to the company's annual equity distribution [5] - Further adjustments to the conversion price occurred, with the price set to 7.83 yuan on July 16, 2024, and subsequently adjusted to 7.81 yuan on October 23, 2024, and 7.80 yuan on December 25, 2024 [6][7] - The conversion price was adjusted to 7.64 yuan on July 17, 2025, and further to 7.62 yuan on October 24, 2025, and finally to 7.61 yuan on December 24, 2025 [8][9]