HONGLU(SZ:002541) Shang Hai Zheng Quan Bao·2026-01-13 18:46Core Viewpoint - The company, Anhui Honglu Steel Structure (Group) Co., Ltd., has decided not to adjust the conversion price of its convertible bonds, despite triggering the downward adjustment clause due to stock prices falling below 85% of the conversion price for 15 trading days [1][7]. Group 1: Convertible Bond Overview - The company issued 18.80 billion RMB worth of convertible bonds on October 9, 2020, with a face value of 100 RMB per bond, and a term of six years [2]. - The initial conversion price was set at 43.74 RMB per share, which has been adjusted multiple times due to equity distributions [3][4][5]. Group 2: Conversion Price Adjustment Details - The conversion price was adjusted to 43.51 RMB on June 9, 2021, 33.22 RMB on June 15, 2022, 32.96 RMB on June 14, 2023, and finally to 32.08 RMB on June 20, 2025 [4][5]. - The downward adjustment clause allows the company to propose a reduction in the conversion price if the stock price falls below 85% of the current conversion price for 15 trading days [6]. Group 3: Board Meeting and Decision - The sixth board meeting on January 13, 2026, unanimously approved the decision not to adjust the conversion price, reflecting confidence in the company's long-term stability and intrinsic value [2][12]. - The decision will be re-evaluated if the downward adjustment clause is triggered again after January 14, 2026 [7].