HONGLU(SZ:002541) Shang Hai Zheng Quan Bao·2026-02-25 17:44Group 1 - The company held its 35th meeting of the 6th Board of Directors on February 25, 2026, where it approved the proposal to lower the conversion price of the "Honglu Convertible Bonds" [2][3] - The meeting was attended by all 5 directors, meeting the legal quorum requirements [2] - The decision to adjust the conversion price was made in accordance with the relevant provisions of the Company Law and the company's articles of association [2] Group 2 - The company issued 18.80 billion RMB worth of convertible bonds in October 2020, with a maturity of six years [7] - The initial conversion price was set at 43.74 RMB per share, which has been adjusted multiple times due to annual profit distributions [10][11][13] - The conversion price was recently adjusted from 32.08 RMB to 21.99 RMB per share, effective February 26, 2026 [12] Group 3 - The adjustment of the conversion price was triggered as the company's stock price fell below 85% of the current conversion price for 15 out of 30 consecutive trading days [14] - The board proposed the adjustment to protect the interests of bondholders and optimize the company's capital structure [14][15] - The proposal was approved by over two-thirds of the voting rights at the 2026 first extraordinary general meeting [15][27]