Guangdong Fangyuan New Materials (SH:688148) Shang Hai Zheng Quan Bao·2026-02-05 18:19Core Viewpoint - The company anticipates that the conversion price of its convertible bonds, "Fangyuan Convertible Bonds," may be adjusted downward due to the stock price falling below 85% of the current conversion price for a specified period [3][9]. Group 1: Convertible Bond Basic Information - The company issued 6,420,000 convertible bonds on September 23, 2022, with a total fundraising amount of RMB 64,200 million, and the initial conversion price was set at RMB 18.62 per share [4]. - The conversion period for the bonds is from March 29, 2023, to September 22, 2028 [4]. Group 2: Conversion Price Adjustment - The conversion price was adjusted from RMB 18.62 to RMB 18.63 per share on October 30, 2023, following the repurchase and cancellation of certain restricted stocks [4]. - A further adjustment is expected, reducing the conversion price to RMB 14.00 per share, effective from January 23, 2026, pending board approval [6]. Group 3: Conditions for Downward Adjustment - The company’s stock price has been below RMB 11.90 (85% of the current conversion price) for 10 out of 30 trading days, which triggers the condition for a potential downward adjustment of the conversion price [3][9]. - If the conditions are met, the board will convene to decide on the adjustment and will disclose the decision promptly [9].