BLUE SAIL MEDICAL(SZ:002382) 中国基金报·2025-11-09 14:31Core Viewpoint - Bluefan Medical has decided to lower the conversion price of "Bluefan Convertible Bonds" to 10 yuan per share after considering various factors, marking the fifth downward adjustment since 2024 [2][6]. Group 1: Price Adjustment Details - The conversion price of "Bluefan Convertible Bonds" has been adjusted downwards to 10.00 yuan per share, effective from November 10, 2025 [6]. - This is the fifth time Bluefan Medical has lowered the conversion price since 2024, with previous adjustments made to 12.50 yuan, 12.00 yuan, 11.50 yuan, and 10.50 yuan [3][9][10][11][12]. - The average trading price of the company's stock was 5.58 yuan per share over the twenty trading days prior to the shareholder meeting, and 5.52 yuan on the last trading day before the meeting [7]. Group 2: Stock Performance - Since reaching a peak in July 2020, Bluefan Medical's stock price has declined over 80%, with the current market capitalization at 5.65 billion yuan [3][14]. - The company has experienced a significant drop in net profit and stock price since 2020, leading to a downward trend in its financial performance [14]. Group 3: Financial Performance - For the first three quarters of 2025, Bluefan Medical reported a revenue of 4.182 billion yuan, a year-on-year decrease of 10.15%, and a net loss of 286 million yuan, a decline of 30.09% year-on-year [18]. - As of September 30, 2025, the company's current assets were 5.162 billion yuan, while current liabilities reached 5.941 billion yuan, indicating a challenging liquidity position [18].