Core Viewpoint - The company has decided not to adjust the conversion price of its convertible bonds, "Qiaoyin Convertible Bonds," despite meeting the conditions for a downward adjustment due to stock price performance [3][6]. Group 1: Convertible Bond Basic Information - The company issued 420 million yuan of convertible bonds with a face value of 100 yuan each, approved by the China Securities Regulatory Commission [1]. - The bonds were listed on the Shenzhen Stock Exchange on December 24, 2020, under the code "128138" [1]. - The conversion period for the bonds is from May 24, 2021, to November 16, 2026 [1]. Group 2: Conversion Price Adjustment History - The conversion price was adjusted from 25.43 yuan/share to 25.33 yuan/share effective May 24, 2021 [1]. - A subsequent adjustment reduced the price from 25.33 yuan/share to 25.23 yuan/share effective July 18, 2022 [2]. - The conversion price was further adjusted from 25.23 yuan/share to 25.13 yuan/share effective July 17, 2023 [2]. - The latest adjustment changed the price from 25.13 yuan/share to 25.03 yuan/share effective June 5, 2024 [3]. Group 3: Decision on Downward Adjustment - As of August 27, 2025, the company's stock had been below 85% of the current conversion price for at least 15 trading days within a 30-day period, triggering the conditions for a downward adjustment [5][6]. - The board of directors decided not to proceed with the downward adjustment of the conversion price during the specified period from August 28, 2025, to September 24, 2025 [6]. - If the conditions for a downward adjustment are met again after the specified period, the board will reconvene to decide on the matter [6].

Core Viewpoint - The article discusses recent developments in convertible bonds, including strong redemptions, issuance terminations, and new listings, indicating active market movements and investment opportunities in this sector [1][2]. Group 1: Convertible Bonds Updates - Honghui Convertible Bond has announced a strong redemption [1]. - Yongji Co., Ltd. has terminated its plan to issue shares for asset acquisition and will resume trading on August 28 [1]. - Qiaoyin Convertible Bond and Yuxing Convertible Bond will not undergo adjustments [1][2]. Group 2: Convertible Bonds Details - A table lists various convertible bonds with their current prices, redemption prices, last trading dates, last conversion dates, conversion values, remaining scales, and the proportion of convertible bonds to the underlying stocks [4][6]. - For example, the Emergency Convertible Bond has a current price of 125.334, a redemption price of 100.770, and a conversion value of 126.77, with a remaining scale of 0.019 billion [4]. - The table also highlights that the Z Energy Convertible Bond has a conversion value of 125.19 and a remaining scale of 0.450 billion, indicating its market presence [4].

Group 1 - The company announced that as of August 20, 2025, its stock price has been below 85% of the current conversion price of 17.90 CNY per share for 10 trading days starting from August 7 [1] - This situation is expected to trigger the downward adjustment condition for the "Qiaoyin Convertible Bond" (code: 128138) [1] - Previously, the company decided in April not to adjust the conversion price and stated that it would not propose a revision if the condition was triggered again between April 29 and August 6 [1]

New Stock Issuance - ST凯利 (300326) is undergoing a tender offer from July 17, 2025, to August 15, 2025[1] - 中程退 (300208) has its last trading day on July 18, 2025[1] - 退市锦港 (600190) and 退市锦B (900952) also have their last trading day on July 18, 2025[1] Market Alerts - 广生堂 (300436) is experiencing severe abnormal fluctuations as of July 17, 2025[1] - 华银电力 (600744) has a market alert issued on July 15, 2025[1] - 扬电科技 (301012) and 新易盛 (300502) have announcements made on July 17, 2025[1] Other Notable Stocks - 皇氏集团 (002329) and 浙江黎明 (603048) have announcements on July 18, 2025[1] - ST立方 (300344) and 国晟科技 (603778) also have announcements on July 18, 2025[1] - 英利汽车 (601279) and 天宸股份 (600620) have announcements on July 18, 2025[1]

New Stock Listings - Huadian New Energy (600930) listed at an issue price of 3.18 on July 16, 2025[1] - Zhongcheng Tui (300208) has 2 trading days remaining until the last trading day[1] - Tui Shi Jin Gang (600190) also has 2 trading days remaining until the last trading day[1] Abnormal Fluctuations - Huayin Power (600744) reported severe abnormal fluctuations on July 15, 2025[1] - Changcheng Military Industry (601606) announced abnormal fluctuations on July 15, 2025[1] - ST Yanzhen (603389) reported abnormal fluctuations on July 16, 2025[1] Other Notable Announcements - ST Ya Zhen (000627) reported significant fluctuations with a value of 7189 on July 16, 2025[3] - Guosheng Technology (603778) reported fluctuations with a value of 3370 on July 15, 2025[3] - ST Xin Chao (600777) reported fluctuations with a value of 1008 on July 11, 2025[3]

Core Viewpoint - The company announced an adjustment to the conversion price of its convertible bonds due to the implementation of its 2024 annual equity distribution plan, resulting in a new conversion price of 17.90 yuan per share, effective from July 23, 2025 [1][3]. Group 1: Conversion Price Adjustment Basis - The company issued 4.2 million convertible bonds with a total value of 420 million yuan on November 17, 2020, with an initial conversion price of 18.00 yuan per share [1]. - The adjustment formula for the conversion price is based on various corporate actions such as cash dividends, stock distributions, and capital increases [1][2]. Group 2: Reasons and Results of Adjustment - The company plans to distribute a cash dividend of 1.00 yuan per share to all shareholders, totaling 40,866,556.30 yuan (including tax), based on a total share capital of 408,665,563 shares as of April 18, 2025 [2]. - The conversion price is adjusted from 18.00 yuan to 17.90 yuan per share due to the cash dividend distribution, effective from the ex-dividend date of July 23, 2025 [3].

Core Viewpoint - The China Convertible Bond Index opened with a slight increase of 0.01%, indicating a stable market performance in the convertible bond sector [1] Group 1: Market Performance - The following convertible bonds experienced significant gains: Hao 24 Convertible Bond increased by 13.61%, Qiaoyin Convertible Bond rose by 2.66%, and Emergency Convertible Bond went up by 1.46% [1] - Conversely, Ruifeng Convertible Bond saw a decline of 4.51%, while Zhenhua Convertible Bond decreased by 1.55% [1]