Group 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]

Core Viewpoint - Aerospace Hongtu announced that its stock price has closed below 85% of the current conversion price for 10 trading days, indicating a potential trigger for the downward adjustment of the conversion price as per the bond issuance prospectus [2]. Group 1 - The stock price of Aerospace Hongtu has been below 34.80 yuan per share, which is 85% of the current conversion price [2]. - The company may hold a board meeting to decide on the adjustment of the conversion price if the trigger condition is met [2]. - The company is obligated to fulfill information disclosure requirements promptly following the board's decision [2].

Core Viewpoint - The company, Qiaqia Food Co., Ltd., is expected to trigger the condition for a downward adjustment of the conversion price for its convertible bonds, "Qiaqia Convertible Bonds," due to the stock price being below 85% of the current conversion price for a specified period [1][12]. Group 1: Convertible Bond Issuance and Listing - The company issued 13.40 million convertible bonds at a face value of 100 yuan each, totaling 1.34 billion yuan, with a six-year term approved by the China Securities Regulatory Commission [2]. - The bonds were listed on the Shenzhen Stock Exchange on November 18, 2020, under the name "Qiaqia Convertible Bonds" and code "128135" [3]. Group 2: Conversion Price and Adjustment - The initial conversion price was set at 60.83 yuan per share, and it has undergone seven adjustments since the bonds became convertible on April 26, 2021 [6]. - The conversion price was adjusted to 60.03 yuan on June 11, 2021, 59.18 yuan on June 22, 2022, and 58.18 yuan on June 20, 2023, due to annual dividend distributions [6][7][8]. Group 3: Downward Adjustment Conditions - The company can propose a downward adjustment of the conversion price if the stock price is below 85% of the current conversion price for at least 15 out of 30 consecutive trading days [9]. - The expected period for triggering this condition starts from January 28, 2026, and ends on February 10, 2026, during which the stock price has already been below 47.54 yuan (85% of the current conversion price) for ten trading days [12]. Group 4: Future Procedures - If the company decides to adjust the conversion price, it will announce the decision through designated media, including the adjustment range and the date for resuming conversion applications [10]. - The company must follow the procedures outlined in the prospectus for any future adjustments and disclosures [13].

Core Viewpoint - The company, Anhui Honglu Steel Structure (Group) Co., Ltd., has decided not to adjust the conversion price of its convertible bonds, despite triggering the downward adjustment clause due to stock prices falling below 85% of the conversion price for 15 trading days [1][7]. Group 1: Convertible Bond Overview - The company issued 18.80 billion RMB worth of convertible bonds on October 9, 2020, with a face value of 100 RMB per bond, and a term of six years [2]. - The initial conversion price was set at 43.74 RMB per share, which has been adjusted multiple times due to equity distributions [3][4][5]. Group 2: Conversion Price Adjustment Details - The conversion price was adjusted to 43.51 RMB on June 9, 2021, 33.22 RMB on June 15, 2022, 32.96 RMB on June 14, 2023, and finally to 32.08 RMB on June 20, 2025 [4][5]. - 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 15 trading days [6]. Group 3: Board Meeting and Decision - The sixth board meeting on January 13, 2026, unanimously approved the decision not to adjust the conversion price, reflecting confidence in the company's long-term stability and intrinsic value [2][12]. - The decision will be re-evaluated if the downward adjustment clause is triggered again after January 14, 2026 [7].

Core Viewpoint - Lingkang Pharmaceutical Group Co., Ltd. has decided not to exercise the downward adjustment of the conversion price for its convertible bonds, despite triggering the conditions for such an adjustment due to stock price performance [2][5][6]. Group 1: Convertible Bond Details - The company issued 5.25 million convertible bonds on December 1, 2020, with a total amount of 525 million yuan and a maturity of 6 years [3]. - The initial conversion price was set at 8.81 yuan per share, which has been adjusted multiple times, with the latest price being 6.50 yuan per share [3][4]. - The conversion period for the bonds is from June 7, 2021, to November 30, 2026 [6]. Group 2: Price Adjustment Conditions - As of December 9, 2025, the stock price has been below 85% of the current conversion price for at least 15 trading days within a 30-day period, triggering the price adjustment clause [2][5]. - The board of directors has decided not to propose a downward adjustment for the conversion price, considering various factors including the company's fundamentals and market conditions [5][6]. - If the conditions for downward adjustment are triggered again within the next month, the company will still not propose an adjustment, and the board will reassess the situation starting January 12, 2026 [2][6].

Core Viewpoint - The company, Zibo Qixiang Tengda Chemical Co., Ltd., has announced the potential for a downward adjustment of the conversion price for its convertible bonds due to recent stock price performance, which may trigger the conditions for such a revision [2][11]. Group 1: Convertible Bond Issuance and Terms - The company issued 29.9 million convertible bonds with a total value of 299 million yuan, approved by the China Securities Regulatory Commission on August 20, 2020 [3]. - The bonds were listed on the Shenzhen Stock Exchange on September 15, 2020, under the name "Qixiang Zhuang 2" and code "128128" [4]. - The initial conversion price was set at 8.22 yuan per share, which has been adjusted multiple times due to various corporate actions [5][6][8]. Group 2: Conversion Price Adjustment Mechanism - According to the prospectus, the conversion price can be adjusted downward if the company's stock price closes below 90% of the current conversion price for at least ten out of twenty consecutive trading days [9]. - The adjustment requires approval from two-thirds of the voting rights at a shareholders' meeting, excluding those holding the convertible bonds [9]. - The adjusted conversion price must not be lower than the higher of the average stock price over the twenty trading days prior to the shareholders' meeting and the latest audited net asset value per share [9]. Group 3: Recent Stock Performance and Potential Adjustment - From November 27 to December 9, 2025, the company's stock has recorded five trading days where the closing price was below 90% of the current conversion price, indicating a potential trigger for a downward adjustment [11]. - If the conditions for adjustment are met, the company will hold a board meeting to decide on the adjustment and will disclose the decision the following trading day [12].

Core Viewpoint - The company held its second extraordinary general meeting of shareholders in 2025, where it approved the downward adjustment of the conversion price for its convertible bonds and the profit distribution plan for the first three quarters of 2025 [2][4][36]. Group 1: Meeting Details - The extraordinary general meeting was held on November 20, 2025, at the company's office in Yantai, Shandong Province [2]. - The meeting was conducted with a combination of on-site and online voting, presided over by the chairman, Song Fei [2][3]. - All resolutions presented at the meeting were approved without any objections [5]. Group 2: Conversion Price Adjustment - The conversion price for the "Aidi Convertible Bonds" was adjusted from 23.58 CNY per share to 18.75 CNY per share [6][14]. - The adjustment was triggered as the company's stock price fell below 85% of the conversion price for at least 15 trading days within a 30-day period [10][36]. - The new conversion price will take effect on November 24, 2025, following a temporary suspension of conversion on November 21, 2025 [7][12]. Group 3: Share Buyback Plan - The company plans to repurchase its A-shares using its own funds, with a total amount between 100 million CNY and 200 million CNY [18][40]. - The repurchase is intended for converting the company's convertible bonds, with a maximum repurchase price set at 27 CNY per share [18][41]. - The buyback period is set for 12 months from the board's approval date, and the company will not repurchase shares during certain restricted periods [25][41].

Core Viewpoint - The company 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][20]. Group 1: Board Meeting Details - The 22nd meeting of the 10th Board of Directors was held on November 14, 2025, with all 9 directors present [2]. - The meeting was convened in accordance with the relevant provisions of the Company Law and the company's articles of association [2]. Group 2: Resolution on Convertible Bonds - The board approved the resolution not to adjust the conversion price of the "Zhongte Convertible Bonds" [3][20]. - The stock price has been below 80% of the conversion price for 15 trading days, triggering the adjustment clause [11][20]. - The board's decision is based on the belief in the company's long-term value and aims to protect the interests of all investors [3][20]. Group 3: Future Considerations - The company will not propose a downward adjustment for the next three months (from November 17, 2025, to February 13, 2026) even if the adjustment conditions are met again [20]. - A new assessment period for potential adjustments will begin on February 24, 2026 [20].

Core Viewpoint - The company, Shanghai Zhengfan Technology Co., Ltd., has announced the potential for a downward adjustment of the conversion price for its convertible bonds due to the stock price falling below a specified threshold [2][8]. Group 1: Convertible Bond Details - The initial conversion price for the convertible bonds was set at 38.85 CNY per share, which was adjusted to 38.54 CNY on June 27, 2025, and further adjusted to 38.52 CNY on September 18, 2025 [3][4]. - The convertible bonds were issued on March 18, 2025, with a total issuance of 10,410,950 bonds, amounting to 1,041,095,000 CNY [2][3]. Group 2: Price Adjustment Conditions - The conversion price may be adjusted downward if the company's stock price closes below 85% of the current conversion price (32.74 CNY) for at least 15 out of 30 consecutive trading days [2][8]. - If the conditions are met, the board of directors will convene to decide on the adjustment and will disclose the decision promptly [8]. Group 3: Regulatory Compliance - The company is adhering to the regulations set forth by the Shanghai Stock Exchange regarding the management of convertible bonds and their conversion price adjustments [6][7]. - The company will publish announcements regarding any adjustments, including the extent of the adjustment and the relevant dates for shareholders [7].

Core Points - Guanglian Aviation announced that from October 28, 2025, to November 10, 2025, its stock closing price has been below 85% of the current conversion price for ten trading days [2] - This situation may trigger the downward adjustment condition for the "Guanglian Convertible Bonds" conversion price, as per the relevant provisions in the offering document [2] - The company will follow legal regulations and the offering document to fulfill review procedures and information disclosure obligations if the conversion price adjustment condition is triggered [2]