Core Points - The company has completed the adjustment of the conversion price for its convertible bonds following the repurchase and cancellation of shares [1][7][8] Group 1: Convertible Bond Issuance - The company issued 5 million convertible bonds with a total value of 500 million RMB, with an initial conversion price set at 35.35 RMB per share [1] - The bonds were approved by the China Securities Regulatory Commission and began trading on January 12, 2021 [1] Group 2: Conversion Price Adjustment Mechanism - The conversion price is subject to adjustments based on various corporate actions such as stock dividends, capital increases, and cash dividends, following specific formulas [2][3] - The adjustment formulas account for factors like stock dividend rates, new share issuance rates, and cash dividend amounts [2] Group 3: Historical Adjustments - The conversion price has undergone several adjustments due to corporate actions, including a reduction from 35.35 RMB to 35.15 RMB on June 11, 2021, following a cash dividend distribution [3][5] - Subsequent adjustments included changes to 34.98 RMB on May 25, 2022, and 34.81 RMB on May 26, 2023, due to similar corporate actions [5][6] Group 4: Recent Adjustments - Following the repurchase and cancellation of 3,999,287 shares, the total share capital decreased from 564,265,375 to 560,266,088 shares [7] - The conversion price was adjusted from 34.39 RMB to 34.46 RMB, effective from July 14, 2025, based on the repurchase price and the number of shares canceled [7][8]

Core Viewpoint - Sanofi Biosensor Co., Ltd. announced an adjustment in the conversion price of its convertible bonds, increasing it from 34.39 CNY/share to 34.46 CNY/share, effective from July 14, 2025 [1][4]. Summary by Relevant Sections Conversion Price Adjustment Basis - The adjustment is based on the approval from the China Securities Regulatory Commission for the issuance of convertible bonds, which were initially priced at 35.35 CNY/share [2]. - The conversion price must be adjusted in response to events such as stock dividends, capital increases, or share buybacks that affect the company's equity structure [2]. Historical Adjustment of Conversion Price - The conversion price has undergone several adjustments since its initial issuance: - June 11, 2021: Adjusted from 35.35 CNY/share to 35.15 CNY/share due to a cash dividend of 2 CNY per 10 shares [3]. - August 20, 2021: Adjusted to 35.18 CNY/share following the buyback of restricted stock [3]. - May 25, 2022: Adjusted to 34.98 CNY/share due to another cash dividend [3]. - September 28, 2022: Adjusted to 35.01 CNY/share after further stock buybacks [3]. - May 26, 2023: Adjusted to 34.81 CNY/share due to a cash dividend [3]. - June 17, 2024: Adjusted to 34.61 CNY/share following another cash dividend [3]. - June 13, 2025: Adjusted to 34.39 CNY/share due to a cash dividend of 2.20 CNY per 10 shares [3]. Details of the Current Adjustment - The company held board and shareholder meetings to approve the cancellation of 3,999,287 shares, which is 0.71% of the total shares before cancellation [4]. - Following the cancellation, the total share capital decreased from 564,265,375 shares to 560,266,088 shares, leading to the new conversion price of 34.46 CNY/share [4].

Core Viewpoint - The article discusses the recent developments in convertible bonds of various companies, highlighting issues such as credit rating downgrades, liquidity pressures, and operational challenges faced by the companies involved [1]. Group 1: Company-Specific Developments - Blue Fan Convertible Bond: The board proposed a down adjustment of the bond [1]. - Ruifeng Convertible Bond: The credit rating has been downgraded to A, indicating a decline in the company's profitability and increased liquidity pressure due to reduced cash reserves and higher restricted cash ratios [1]. - Dongshi Convertible Bond: The company failed to rectify fund occupation issues within the mandated period, leading to a suspension of trading from June 20, with an expected duration of no more than two months [1]. - San Nuo, Hongtu, and Qifan Convertible Bonds: No down adjustment proposed for these bonds [1]. - Huachen Convertible Bond: Open for subscription [1]. - Xintong Electronics: New shares in the Shanghai and Shenzhen markets are open for subscription [1]. Group 2: Financial Performance Indicators - The company is experiencing a significant decline in profitability for 2024, with a decrease in cash flow and slower turnover rates for accounts receivable and inventory [1]. - Operating net cash flow has turned into a net outflow, indicating increased liquidity pressure [1]. - Due to factors such as technological upgrades and underperformance in the biodegradable materials market, the company's investment projects are not operating as expected, which may lead to further asset impairment provisions affecting future operational performance [1].

Core Points - The company has decided not to adjust the conversion price of its convertible bonds, despite triggering conditions for a downward adjustment due to stock prices falling below 80% of the current conversion price for at least 15 trading days within a 30-day period [1][8] - The next period for potential adjustment will restart from December 22, 2025, if the conditions are triggered again [1][8] Convertible Bond Basic Information - The company issued 5 million convertible bonds at a face value of 100 RMB each, totaling 500 million RMB, which began trading on January 12, 2021 [1][2] - The initial conversion price was set at 35.35 RMB per share [2] Conversion Price Adjustment History - The conversion price was adjusted to 35.15 RMB per share on June 11, 2021, following a cash dividend distribution of 2.00 RMB per 10 shares [2][3] - Subsequent adjustments occurred, with the conversion price changing to 34.98 RMB on May 25, 2022, and further adjustments to 34.81 RMB on May 26, 2023, and 34.61 RMB on June 17, 2024 [3][4][5] Non-Adjustment Decision Explanation - The board of directors considered various factors, including the company's fundamentals and market conditions, before deciding not to adjust the conversion price on June 19, 2025 [8] - The decision aims to maintain the long-term interests of all shareholders and creditors [8]

Meeting Details - The fifth board meeting of Sannuo Biological Sensor Co., Ltd. was held on June 19, 2025, with all seven directors present [1] - The meeting was convened and chaired by Chairman Li Shaobo, and it complied with the relevant laws and regulations [1] Resolutions Passed - The board approved the proposal not to adjust the conversion price of Sannuo Convertible Bonds downwards, despite the stock price being below 80% of the current conversion price for 15 out of 30 trading days [1][2] - The current conversion price is set at 34.39 CNY per share, with the threshold for adjustment being 27.51 CNY per share [1] Future Considerations - The board decided that if the conversion price adjustment conditions are triggered again within the next six months (from June 20, 2025, to December 19, 2025), no downward adjustment proposal will be made [2] - The next period for potential adjustment will start from December 22, 2025, and the board will follow the necessary procedures if conditions are met [2]

Group 1 - The company announced the repurchase of its convertible bonds, allowing holders to sell back their bonds at a price of RMB 100.735 per bond during the specified period from May 19 to May 23, 2025 [1][2] - The total number of valid repurchase applications for the "San Nuo Convertible Bonds" was reported as 0, indicating no bonds were sold back to the company [2][3] - The repurchase of the convertible bonds is not expected to significantly impact the company's financial status, capital structure, operating results, or cash flow [3] Group 2 - The company confirmed that the unrepurchased "San Nuo Convertible Bonds" will continue to be traded on the Shenzhen Stock Exchange [3] - The company has complied with relevant regulations and disclosed the necessary information regarding the bond repurchase process [1][2] - The board of directors of the company guarantees the accuracy and completeness of the information disclosed [1]

Core Viewpoint - The company announces the conditional redemption of its convertible bonds ("San Nuo Convertible Bonds") due to the stock price being below the conversion price for a specified period, allowing bondholders to redeem their bonds at a predetermined price [1][2]. Redemption Overview - The redemption condition is triggered when the company's stock price remains below 70% of the conversion price (24.23 CNY) for 30 consecutive trading days [1]. - The redemption price for the bonds is calculated to be 100.735 CNY per bond, including interest and tax [3][4]. Redemption Conditions - Bondholders can exercise their redemption rights once during the last two interest years if the conditions are met [2]. - The interest calculation for the redemption is based on a rate of 1.80% for the current interest year, with a total of 149 days considered for the interest calculation [3]. Redemption Process and Payment Method - The company will announce the redemption details on the trading day following the triggering of the redemption condition and will provide daily reminders until the end of the redemption period [4][5]. - Bondholders must submit their redemption requests through the Shenzhen Stock Exchange between May 19, 2025, and May 23, 2025, with the option to withdraw requests on the same day [5]. Trading and Conversion During Redemption Period - The convertible bonds will continue to be traded during the redemption period, but conversion will be suspended [5].