Group 1 - The company, Jiangsu Sanfangxiang Composite Materials Co., Ltd., has issued a notice regarding the potential adjustment of the conversion price for its convertible bonds, "Sanfang Convertible Bonds" [1][8] - The company issued 25 million convertible bonds on January 6, 2023, with a total amount of 250 million yuan and a maturity of six years, with varying interest rates over the years [2] - The initial conversion price was set at 3.17 yuan per share, which was adjusted to 3.02 yuan per share effective from May 8, 2023, following the company's annual profit distribution [3] Group 2 - The convertible bond's 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 [4] - If the conversion price is to be adjusted, the company must announce the adjustment details and the suspension of conversion applications through designated media [5] - As of October 25, 2025, if the company's stock price continues to close below 2.57 yuan per share for 5 out of the next 12 trading days, it will trigger the conversion price adjustment clause [6]

浙江东南网架股份有限公司 第八届董事会第二十八次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002135 证券简称：东南网架 公告编号：2025-085 债券代码：127103 债券简称：东南转债 一、董事会会议召开情况 浙江东南网架股份有限公司（以下简称"公司"）第八届董事会第二十八次会议于2025年11月19日在公司 会议室以现场结合通讯表决的方式召开。本次会议通知于2025年11月18日以电子邮件或专人送出的方式 发出，经全体董事一致同意，本次会议豁免通知期限。会议由董事长郭明明先生主持，应参加会议董事 9人，实际参加董事9人。本次会议的出席人数、召集、召开程序符合《公司法》和《公司章程》的规 定，会议决议合法、有效。 二、董事会会议审议情况 经与会董事认真审议并在议案表决票上表决签字，审议通过了如下决议： 1、会议以9票同意，0票反对，0票弃权的表决结果审议通过了《关于不向下修正"东南转债"转股价格的 议案》。 截至2025年11月19日，公司股票已出现任意连续三十个交易日中 ...

Core Viewpoint - Guangdong Huate Gas Co., Ltd. has decided not to adjust the conversion price of its convertible bonds, Huate Convertible Bonds, despite the triggering of the downward adjustment clause due to stock price fluctuations [2][9][10]. Summary by Sections Convertible Bond Issuance Overview - The company issued 6,460,000 convertible bonds with a total fundraising amount of RMB 646 million, netting RMB 638.18 million after expenses [3]. - The bonds are set to mature six years from the issuance date, specifically from March 21, 2023, to March 20, 2029 [3]. - The initial conversion price was set at RMB 84.22 per share, which was adjusted to RMB 83.81 on July 6, 2023, and further adjusted to RMB 83.75 on August 21, 2023 [4][5]. Downward Adjustment Clause for Conversion Price - The downward adjustment clause is triggered when the stock price is below 85% of the conversion price for at least 15 out of 30 consecutive trading days [7]. - The company has the authority to propose a downward adjustment, which requires a two-thirds majority approval from shareholders [7]. Decision on Non-Adjustment of Conversion Price - As of November 17, 2025, the stock price fell below RMB 70.31, triggering the adjustment clause [9]. - The board of directors decided not to adjust the conversion price, considering the short time since the bond's issuance and the impact of macroeconomic factors [9][10]. - The decision was made unanimously with 8 votes in favor and no opposition [10]. Future Considerations - The company will not propose a downward adjustment for the next six months, even if the conditions are met again [10]. - The next period for potential adjustment will start from May 18, 2026 [10].

Group 1 - The company held its 34th meeting of the 5th Board of Directors on November 14, 2025, with all 11 directors present, confirming the legality and validity of the meeting [2][3][4] - The Board approved a proposal to lower the conversion price of the "Dongshi Convertible Bonds" from 12.15 yuan per share to 4.42 yuan per share, effective from November 18, 2025 [3][12][13] - The average trading price of the company's stock over the 20 trading days prior to the fourth extraordinary general meeting was 3.67 yuan per share, and the last trading day's average was 4.42 yuan per share [12][13] Group 2 - The company issued 4.28 billion yuan in convertible bonds with a maturity of 6 years, starting from April 9, 2020, to April 8, 2026, with a face value of 100 yuan per bond [6][7] - The initial conversion price was set at 14.76 yuan per share, which has been adjusted multiple times, with the latest adjustment being to 4.42 yuan per share [8][9][10] - The adjustment of the conversion price was triggered by the stock price being below 80% of the current conversion price for at least 15 trading days within a 30-day period [10][11] Group 3 - The company is currently involved in a lawsuit with a claim amounting to approximately 265.18 million yuan, and the case is in the execution phase [15][16][17] - The company and its wholly-owned subsidiary are the defendants, while another subsidiary is acting as a guarantor [16][17] - The lawsuit's outcome remains uncertain, and the company will continue to disclose information as required [17][21] Group 4 - The company's controlling shareholder, Dongfang Shishang Investment Co., Ltd., has had 49.65 million shares frozen due to a debt dispute with China Postal Savings Bank [26][27] - This frozen amount represents 99.50% of the shares held by the controlling shareholder and does not significantly impact the company's operations [26][28] - The company is monitoring the situation and will disclose any relevant updates [29][30]

Core Viewpoint - The announcement from Yinbang Co., Ltd. indicates a potential downward adjustment of the conversion price for its convertible bonds due to the stock price falling below a specified threshold [2] Group 1 - From October 29, 2025, to November 12, 2025, the company's stock has closed below 85% of the current conversion price (10.63 CNY/share) for ten out of any thirty consecutive trading days [2]

Core Viewpoint - Ningbo Taiping Bird Fashion Co., Ltd. has decided not to adjust the conversion price of its convertible bonds, "Taiping Convertible Bonds," despite triggering the downward adjustment clause due to stock price performance [2][9]. Group 1: Company Announcement - As of November 7, 2025, the company's stock price was below 85% of the current conversion price for 15 out of 30 consecutive trading days, triggering the downward adjustment clause for "Taiping Convertible Bonds" [2]. - The company's board of directors held a meeting on November 7, 2025, and resolved not to adjust the conversion price, also stating that if the clause is triggered again within the next 12 months (November 8, 2025, to November 7, 2026), no adjustment proposal will be made [2][9]. - The current conversion price of "Taiping Convertible Bonds" is 20.88 yuan per share [8]. Group 2: Convertible Bond Details - The company issued 8 million convertible bonds on July 15, 2021, with a total fundraising amount of 800 million yuan and a maturity period of 6 years [3]. - The initial conversion price was set at 50.32 yuan per share, which has undergone several adjustments due to various corporate actions [3][4][5][6][7]. - The most recent adjustment occurred due to the annual profit distribution plan, lowering the conversion price to 20.81 yuan per share, which was subsequently adjusted to 20.88 yuan per share after the repurchase of shares [5][7].

经上海证券交易所自律监管决定书[2021]503号文同意，公司本次发行的75,171.30万元可转换公司债券 于2022年1月4日起在上海证券交易所上市交易，债券简称"珀莱转债"，债券代码"113634"。 根据有关规定和《珀莱雅化妆品股份有限公司公开发行A股可转换公司债券募集说明书》（以下简 称"《募集说明书》"）的约定，公司该次发行的"珀莱转债"自2022年6月14日起可转换为公司股份，转 股期间为2022年6月14日至2027年12月7日，初始转股价格为195.98元/股，最新转股价格为95.46元/股。 历次转股价格调整情况如下： 登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：603605 证券简称：珀莱雅 公告编号：2025-073 债券代码：113634 债券简称：珀莱转债 珀莱雅化妆品股份有限公司关于"珀莱转债"预计满足转股价格修正条件的提示性公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 一、可转债发行上市概况 经中国证券监督管理委员会《关于核准珀莱雅化妆品股份有限公司公开发行可转换公司债券 ...

Core Viewpoint - The board of directors of Leshan Juxing Agricultural and Animal Husbandry Co., Ltd. has decided not to adjust the conversion price of its convertible bonds despite triggering conditions for a downward adjustment due to stock price performance [3][11][12]. Meeting Details - The 32nd meeting of the fourth board of directors was held on November 3, 2025, via telecommunication, with all nine directors present [2]. - The meeting was convened by Chairman Duan Lifeng, and the reason for the emergency meeting was explained to all directors, who had no objections [2]. Resolutions Passed - The board approved the proposal not to adjust the conversion price of the "Juxing Convertible Bonds" despite the stock price being below 80% of the conversion price for at least 15 trading days within a 30-day period [3][11]. - The next period for triggering the conversion price adjustment will restart from the day after the board meeting, and if conditions are met again, the board will reconvene to consider the adjustment [3][12]. Convertible Bond Information - The "Juxing Convertible Bonds" were issued on April 25, 2022, with a total face value of 1 billion yuan, at a price of 100 yuan per bond, with a maturity of six years and a tiered interest rate structure [7][8]. - The conversion price was initially set at 25.24 yuan per share and has been adjusted to 25.21 yuan and then to 25.04 yuan in subsequent shareholder meetings [9][10]. Trigger Conditions for Price Adjustment - The conditions for a downward adjustment of the conversion price were triggered as the stock price fell below 80% of the conversion price for the required number of trading days [11][12].

Group 1: Company Performance - In the first three quarters of 2025, the company achieved a revenue of CNY 36.809 billion, a decrease of 32.27% compared to the same period last year [2] - The net profit attributable to shareholders was CNY -3.553 billion, indicating a significant loss [2] - As of the end of Q3 2025, total assets amounted to CNY 105.38 billion, with net assets of CNY 23.174 billion [2] - In Q3 2025, revenue was CNY 12.904 billion, down 24.05% year-on-year, with a net profit of CNY -0.973 billion [2] Group 2: Shipment and Market Position - The company shipped 51.96 GW of battery modules in the first three quarters of 2025, maintaining a leading position in the industry [3] - Overseas shipments accounted for 49.78% of total shipments [3] - In Q3 2025, the company shipped 18.17 GW of battery modules [3] Group 3: Financial Strategies - The company adjusted the conversion price of its convertible bonds from CNY 38.22 to CNY 11.66 per share, effective from July 23, 2025, to enhance risk resistance [3] - A share repurchase plan was established, with a budget of CNY 200 million to CNY 400 million to buy back shares for employee stock ownership plans [3] Group 4: Market Outlook and Demand - Global new installations are projected to be between 580 GW and 600 GW in 2025, with China's new installations expected around 270 GW to 300 GW [4] - The company has begun shipping energy storage products and is focusing on strategic partnerships while utilizing existing sales channels [4] Group 5: Product Development and Pricing - The efficiency ceiling for Topcon technology is targeted between 650W and 670W, with potential for further improvements [5] - Component prices are expected to rise due to increased demand in domestic and overseas markets, particularly in the Middle East and Europe [5] - The company plans to upgrade one-third of its production capacity by the end of the year, enhancing efficiency across all production lines [5]

Core Viewpoint - Honglu Steel Structure announced that from October 20, 2025, to October 31, 2025, the company's stock price has closed below 85% of the current conversion price for 10 trading days, which may trigger the downward adjustment of the "Honglu Convertible Bonds" conversion price [1] Summary by Relevant Sections - **Stock Price Performance** - The company's stock price has been below 85% of the current conversion price for 10 consecutive trading days [1] - **Convertible Bonds Adjustment** - If the stock price continues to remain below the conversion price threshold, it is expected to trigger conditions for the downward adjustment of the conversion price of the convertible bonds [1] - **Regulatory Compliance** - According to the Shenzhen Stock Exchange's self-regulatory guidelines, the company will fulfill subsequent review procedures and information disclosure obligations if the adjustment condition is triggered [1] - Failure to perform the review procedures and information disclosure will be considered as not adjusting the conversion price [1]