Wuzhou Special Paper(SH:605007) Xin Lang Cai Jing·2026-01-05 18:44Core Viewpoint - The announcement details the conversion results of the company's convertible bonds, indicating a low conversion rate and adjustments to the conversion price over time [2][3][10]. Group 1: Conversion Status - As of December 31, 2025, a total of RMB 8,118,000 of "Te Paper Convertible Bonds" has been converted into company shares, accounting for 1.2116% of the total issued convertible bonds [2][10]. - The total number of shares converted is 552,090, representing 0.1380% of the company's total shares before the conversion [2][10]. - The amount of unconverted convertible bonds as of December 31, 2025, is RMB 661,882,000, which constitutes 98.7884% of the total issued convertible bonds [2][10]. Group 2: Convertible Bond Issuance Overview - The company issued 6.7 million convertible bonds on December 8, 2021, with a total value of RMB 67 million, and these bonds began trading on December 30, 2021 [3]. - The initial conversion price was set at RMB 18.50 per share, which was later adjusted to RMB 18.20 on June 23, 2022, and further reduced to RMB 14.70 on October 19, 2022 [4][5]. - The conversion price was adjusted again to RMB 14.54 on June 15, 2023, and is set to change to RMB 14.32 on May 30, 2024 [5][8]. Group 3: Stock Repurchase and Cancellation - The company has conducted stock repurchases and cancellations due to certain employees losing their eligibility under the incentive plan, affecting a small percentage of the total shares [6][7][9]. - Following the cancellation of 15,000 shares in August 2024 and 6,240 shares in November 2024, the conversion price remained unchanged at RMB 14.32 [6][7]. - A further cancellation of 1,173,900 shares occurred in November 2025, leading to an adjustment of the conversion price to RMB 13.65 starting November 11, 2025 [9].