Guangdong Fangyuan New Materials (SH:688148) Shang Hai Zheng Quan Bao·2026-01-21 20:27Core Viewpoint - The company has announced a downward adjustment of the conversion price for its convertible bonds, "Fangyuan Convertible Bonds," from 18.63 yuan per share to 14.00 yuan per share, effective January 23, 2026, due to the stock price falling below the threshold for adjustment [10][11][16]. Meeting Details - The first extraordinary general meeting of shareholders was held on January 21, 2026, at the company's conference room in Jiangmen, Guangdong [2]. - The meeting was attended by all nine current directors and the board secretary, with voting conducted through a combination of on-site and online methods [3][4]. Voting Results - The proposal to adjust the conversion price was passed with more than two-thirds of the voting rights held by attending shareholders [5][6]. - Shareholders holding "Fangyuan Convertible Bonds" were required to abstain from voting on this matter [7]. Legal Compliance - The meeting was witnessed by Beijing Guofeng Law Firm, which confirmed that the procedures followed were in compliance with relevant laws and regulations [8]. Conversion Price Adjustment - The conversion price was adjusted downward due to the company's stock price being below 85% of the previous conversion price for at least 15 trading days within a 30-day period [13][14]. - The previous conversion price was adjusted from 18.62 yuan to 18.63 yuan on October 30, 2023, following the termination of a stock incentive plan [12]. Market Impact - The average trading price of the company's stock over the 20 trading days prior to the meeting was 9.40 yuan per share, which influenced the decision to set the new conversion price at 14.00 yuan [16].