Core Viewpoint - The company, Jiangsu Jinggong Steel Structure Group Co., Ltd., is expected to trigger the condition for a downward adjustment of the conversion price of its convertible bonds due to its stock price being below 80% of the current conversion price for 10 consecutive trading days [2][5]. Group 1: Convertible Bond Basic Information - The company issued 20 million convertible bonds with a total value of RMB 2 billion, with a maturity of 6 years and a face value of RMB 100 per bond [3]. - The initial conversion price was set at RMB 5.00 per share, which has been adjusted multiple times due to equity distributions, currently standing at RMB 4.79 per share [4][6]. Group 2: Conversion Price Adjustment Conditions - The conversion price can be adjusted downwards if the stock price is below 80% of the conversion price for 15 out of 30 consecutive trading days [5]. - The company will hold a board meeting to decide on the adjustment if the conditions are met, and must disclose the decision promptly [7].

Group 1 - The company issued convertible bonds totaling RMB 1,435.01 million, with a net amount of RMB 1,421.31 million after deducting issuance costs [1][2] - The convertible bonds were listed on the Shanghai Stock Exchange on November 18, 2022, with an initial conversion price of RMB 499.89 per share, currently adjusted to RMB 115.50 per share [2] - The conversion price can be adjusted downwards if the company's stock price closes below 85% of the current conversion price for at least 15 out of 30 consecutive trading days [3] Group 2 - The adjustment proposal for the conversion price must be approved by more than two-thirds of the voting rights at the shareholders' meeting, excluding bondholders from voting [3] - If the conversion price is adjusted, the new price will not be lower than the average trading price of the company's stock over the 20 trading days prior to the shareholders' meeting [3] - There is a potential trigger for the conversion price adjustment, as the company's stock has closed below 85% of the current conversion price for ten trading days from July 18 to July 31, 2025 [4]

Meeting Summary - The first extraordinary general meeting of shareholders was held on July 30, 2025, at the company's conference room in Xiamen [2] - The meeting was convened by the board of directors and chaired by the vice chairman, Pan Xiaozhen, with a combination of on-site and online voting [2][3] - All resolutions passed at the meeting were deemed legal and valid [3] Proposal Review - A proposal to change part of the fundraising investment projects was approved during the meeting [4] Legal Witness - The meeting was witnessed by Fujian Zhili Law Firm, with lawyers Jiang Hui and Han Xu providing legal opinions confirming the legality of the meeting procedures and resolutions [5][6] Convertible Bond Information - The convertible bond "Jin 23 Convertible Bond" (code: 113670) has a conversion price of 37.64 yuan per share, with a conversion period from October 21, 2023, to April 16, 2029 [7][8] - From July 17 to July 30, 2025, the company's stock closed below 80% of the conversion price for ten trading days, which may trigger a downward adjustment of the conversion price if it continues for five out of the next twenty trading days [7][13] Convertible Bond Issuance - The company issued 7.7 billion yuan worth of convertible bonds on April 17, 2023, with a six-year term and a tiered interest rate structure [8] - The initial conversion price was set at 39.57 yuan per share, which has been adjusted to 37.64 yuan per share as of July 9, 2025 [9] Conversion Price Adjustment Conditions - The company has the right to propose a downward adjustment of the conversion price if the stock price remains below 80% of the conversion price for at least fifteen out of thirty consecutive trading days [10] - The adjustment must be approved by two-thirds of the voting rights at the shareholders' meeting, excluding those holding the convertible bonds [10][11]

Group 1 - The company issued 20 billion RMB of convertible bonds named "欧22转债" on August 5, 2022, with a maturity of six years and a tiered interest rate starting from 0.30% in the first year to 2.00% in the sixth year [2][3] - The initial conversion price was set at 125.46 RMB per share, which has been adjusted to 118.48 RMB per share due to the company's profit distribution and stock option exercises [3][4] - The conversion price can be adjusted downwards if the stock price falls below 80% of the current conversion price for at least 15 out of 30 consecutive trading days, requiring a two-thirds majority approval from shareholders [4][5] Group 2 - The company decided not to adjust the conversion price on June 16, 2025, and if the conditions for adjustment are triggered again within one month, it will also not adjust the price [5][6] - From July 17, 2025, if the stock price remains below 94.78 RMB per share for 5 out of the next 20 trading days, it will trigger the conditions for a downward adjustment of the conversion price [6]

Core Points - The company proposes to adjust the conversion price of the "T23 Convertible Bond" downwards due to the stock price triggering the adjustment clause [2][6] - The initial conversion price was set at 69.69 CNY per share, which has been adjusted multiple times, with the latest adjustment bringing it down to 25.00 CNY per share [4][6] Group 1: Convertible Bond Basic Information - The company issued 88.64751 million convertible bonds with a total fundraising amount of 886.4751 million CNY, with a maturity period of six years from February 13, 2023, to February 12, 2029 [3] - The conversion period for the bonds is from August 17, 2023, to February 12, 2029 [4] Group 2: Conversion Price Adjustment History - The initial conversion price was set at 69.69 CNY per share, which was adjusted to 69.21 CNY per share on June 27, 2023, due to stock incentive plan adjustments and cash dividends [4] - The conversion price was further adjusted to 68.42 CNY per share on June 20, 2024, following a differentiated dividend distribution [5] - The conversion price was adjusted down to 25.00 CNY per share on February 26, 2025, after triggering the downward adjustment clause [6] Group 3: Downward Adjustment Clause - 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 at least 15 out of 30 consecutive trading days [7] - The adjustment proposal must be approved by at least two-thirds of the voting rights at the shareholders' meeting [7] Group 4: Upcoming Shareholders' Meeting - The company will hold a shareholders' meeting on August 14, 2025, to discuss the proposed adjustment of the conversion price [12][14] - The meeting will utilize both on-site and online voting methods [12][14]

Group 1 - The company is holding its first extraordinary general meeting of shareholders in 2025 on July 30 at 14:30 in Hangzhou, Zhejiang [1] - The agenda includes signing in, reviewing proposals, voting, announcing results, and waiting for online voting results [1][2] - The board of directors is proposing to lower the conversion price of "Lingkang Convertible Bonds" to support long-term stable development and optimize the capital structure [3] Group 2 - The board seeks authorization from the shareholders to handle matters related to the adjustment of the conversion price, including determining the new price and effective date [3] - The authorization is valid from the date of approval at the shareholders' meeting until the completion of the related work [3]

Core Viewpoint - The company is expected to trigger the downward adjustment of the conversion price for its convertible bonds due to the stock closing price being below 85% of the current conversion price, which is set at 27.10 CNY per share [12]. Summary by Sections Convertible Bond Issuance Overview - The company issued 10,248,900 convertible bonds with a face value of 100 CNY each, raising a total of 1,024.89 million CNY, with a net amount of 1,016.17 million CNY after deducting issuance costs [1]. - The bonds were approved by the China Securities Regulatory Commission and began trading on May 14, 2021, under the name "Xianle Convertible Bonds" with the code "123113" [2]. Conversion Period and Price Adjustment - The conversion period for the bonds started on October 25, 2021, which is six months after the issuance [2]. - The conversion price has been adjusted multiple times due to various corporate actions, including cash dividends and stock grants, with the latest adjustment on June 7, 2023, changing the price from 56.42 CNY to 56.07 CNY [6]. Downward Adjustment Conditions - The company has the authority to propose a downward adjustment of the conversion price if the stock price is below 85% of the conversion price for at least 15 out of 30 consecutive trading days [11]. - If the adjustment condition is met, the board will convene to decide on the adjustment and disclose the decision promptly [12]. Recent Stock Performance - From July 10 to July 23, 2025, the company's stock has closed below the threshold for the conversion price adjustment, indicating a potential trigger for the downward adjustment [12].

Core Points - The company has announced a downward adjustment of the conversion price for its convertible bonds from 24.52 CNY/share to 16.50 CNY/share, effective from July 16, 2025 [1][5][6] - The adjustment was triggered as the company's stock price was below 85% of the current conversion price for at least 15 out of 30 consecutive trading days [4][5] - The company held a board meeting and a shareholder meeting to approve the adjustment, with the board's proposal receiving majority support [4][5] Convertible Bond Issuance Overview - The company issued a total of 2,674,300 convertible bonds at a face value of 100 CNY each, amounting to a total of 26,743.00 million CNY, with a maturity of six years from the issuance date [1][2] - The bonds were listed on the Shanghai Stock Exchange on April 21, 2022, under the name "山石转债" and code "118007" [2] Conversion Price Adjustment Mechanism - The conversion price can be adjusted downward if the stock price falls below 85% of the current conversion price for a specified period [3][4] - The adjustment requires approval from at least two-thirds of the voting rights at the shareholder meeting, excluding bondholders from voting [3] Recent Developments - The company’s stock price averaged 15.67 CNY/share over the 20 trading days prior to the shareholder meeting, and 16.04 CNY/share on the trading day before the meeting [5] - The new conversion price will be effective from July 16, 2025, after a temporary suspension of conversion on July 15, 2025 [5][6]

Core Viewpoint - The company has decided not to adjust the conversion price of its convertible bonds, despite meeting the conditions for a downward adjustment, to maintain investor confidence and protect their interests [1][3]. Group 1: Convertible Bond Issuance - The company issued 3,600,000 convertible bonds with a total fundraising amount of RMB 360 million, netting approximately RMB 349.20 million after expenses [1][2]. - The bonds were approved by the China Securities Regulatory Commission and began trading on August 31, 2022, under the name "Zhonglu Convertible Bonds" with the code "123155" [2]. Group 2: Conversion Price Adjustment - The initial conversion price was set at RMB 31.80 per share, which was adjusted to RMB 31.76 per share on June 28, 2023, following the completion of the 2022 annual equity distribution [2]. - The company’s board has the authority to propose a downward adjustment of the conversion price if the stock price falls below 85% of the conversion price for at least 15 out of 30 consecutive trading days [2][3]. Group 3: Decision on Price Adjustment - On July 11, 2025, the board decided not to adjust the conversion price and will not propose any adjustment for the next six months, even if the conditions for adjustment are met again [3]. - The next period for evaluating the adjustment conditions will start from January 12, 2026, and the board will reassess the situation at that time [3].

Core Viewpoint - The company has decided to lower the conversion price of its convertible bonds, "蓝帆转债," to 12.00 CNY per share, effective from July 8, 2025, due to stock price performance and future development considerations [3][6]. Group 1: Convertible Bond Issuance and Adjustment - The total amount of the convertible bonds issued by the company was 314.404 million CNY, approved by the China Securities Regulatory Commission [1]. - The initial conversion price was set at 17.79 CNY per share, which was later adjusted to 18.64 CNY per share after the company repurchased and canceled 48,148,336 shares as part of a performance compensation plan [2][3]. - The conversion price was further adjusted to 12.50 CNY per share on May 21, 2024, following the approval of the shareholders [3][4]. Group 2: Conditions for Price Adjustment - The adjustment of the conversion price is triggered when the closing price of the company's stock is below the current conversion price for at least 15 out of 30 consecutive trading days [4][5]. - The new conversion price must not be lower than the higher of the average trading price over the 20 days prior to the shareholders' meeting and the last trading day's price, as well as not lower than the latest audited net asset value per share [4][5]. Group 3: Recent Developments - The average trading price of the company's stock was 5.63 CNY per share over the 20 days prior to the second extraordinary shareholders' meeting in 2025, and 5.94 CNY on the last trading day before the meeting [5][6]. - The latest audited net asset value per share was reported at 8.13 CNY, which sets a minimum threshold for the conversion price adjustment [5].