证券代码：603916 证券简称：苏博特 公告编号：2025-061 转债代码：113650 转债简称：博22转债 江苏苏博特新材料股份有限公司 关于选举职工董事的公告 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个别及连带责任。 根据《中华人民共和国公司法》、《江苏苏博特新材料股份有限公司章程》等有关规定，江苏苏博特新 材料股份有限公司（以下简称"公司"）工会于近日组织进行了职工董事的选举，经参加选举职工投票， 选举张勇先生（简历附后）为第七届董事会职工董事，任期自本次选举通过之日起至第七届董事会任期 届满之日止。 本次选举职工董事工作完成后，公司第七届董事会中兼任公司高级管理人员以及由职工代表担任的董事 人数总计未超过公司董事总数的二分之一。 特此公告。 江苏苏博特新材料股份有限公司董事会 2025年11月25日 张勇，中国国籍，无境外永久居留权，男，1974年5月出生，本科学历，研究员级高级工程师；1998年 10月至2002年2月任江苏省建筑科学研究院技术推广员，2002年3月至2005年2月任江苏博特新材料有限 公司技术推广 ...

Core Viewpoint - The company has decided not to adjust the conversion price of the "Bo 22 Convertible Bonds" despite triggering the downward adjustment clause, aiming to protect investor interests and maintain confidence in the company's long-term value [1][2][3] Summary of Convertible Bonds - Jiangsu Subote New Materials Co., Ltd. was approved to publicly issue convertible bonds totaling 800 million yuan, with a term of six years, starting from July 28, 2022 [1] - The bonds are referred to as "Bo 22 Convertible Bonds" with the code 113650 [1] Details on Non-Adjustment of Conversion Price - The board of directors held a meeting on April 16, 2025, and decided not to propose a downward adjustment of the conversion price for the "Bo 22 Convertible Bonds" for the next six months [2] - The adjustment clause was triggered as the stock price fell below 80% of the conversion price (18.52 yuan/share) for fifteen trading days from October 16 to November 5, 2025 [2] Board Decision and Rationale - The board convened on November 5, 2025, to review the situation and unanimously agreed (7 votes in favor) not to adjust the conversion price, considering various factors including market conditions and the company's long-term development [3] - The board will reassess the situation after May 5, 2026, if the adjustment clause is triggered again [3]

Core Points - Su Bote announced that as of November 5, 2025, the "Bo 22 Convertible Bond" has triggered the downward adjustment clause for the conversion price [2] - The company's board of directors decided not to adjust the conversion price downward this time [2] - If the downward adjustment clause is triggered again within the next six months (from the date of this announcement to May 4, 2026), the company will also not propose a downward adjustment plan [2]

Group 1 - The company has completed the repurchase and cancellation of 6.33 million restricted stock options due to unmet performance targets and departures of certain incentive recipients, resulting in a total share capital of 426,295,287 shares [1][2] - The adjustment of the conversion price for the "Bo 22 Convertible Bonds" has been implemented, with the pre-adjustment conversion price set at 22.90 CNY per share and the post-adjustment conversion price at 23.15 CNY per share [3][4] - The implementation date for the adjustment of the conversion price is August 26, 2025, with the bonds ceasing to convert on August 25, 2025, and resuming conversion on August 26, 2025 [4]

Key Points - The company announced an adjustment to the conversion price of its convertible bond "博 22 转债" from 22.90 CNY/share to 23.15 CNY/share, effective from August 26, 2025 [1][3] - The adjustment is due to the repurchase and cancellation of 6.33 million restricted stock options, which occurred because the company did not meet performance targets and some incentive recipients left the company [2][3] - The total share capital of the company after the cancellation of the restricted stocks is 426,295,287 shares [3] Conversion Price Adjustment Details - The conversion price adjustment formula used is: P1 = (P0 + A × k) / (1 + k), where P0 is the previous conversion price, A is the new share price, and k is the ratio of new shares issued to total shares [2][3] - The adjustment was approved during the company's board meeting on April 28, 2025, and at the annual shareholders' meeting on May 20, 2025 [2][3] - The conversion price adjustment will result in a new conversion price of 23.15 CNY/share, reflecting the impact of the stock repurchase [3]

Core Viewpoint - The article discusses the challenges and considerations surrounding the development of hydropower in Tibet, emphasizing the high costs of long-distance electricity transmission and the current oversupply of electricity in China [1][2][4]. Group 1: Hydropower Development Challenges - Tibet has a significant hydropower generation capacity, sufficient to supply electricity for 100 million people, but the region cannot consume this energy [1]. - The cost of transmitting electricity over thousands of kilometers is prohibitively high, making it less economical than transporting coal [1][4]. - Current electricity prices have been significantly reduced, indicating that there is no immediate shortage of electricity in the country [2]. Group 2: Geopolitical and Strategic Considerations - Transmitting electricity to neighboring countries like India and Myanmar involves high costs and geopolitical risks [3]. - From a military perspective, the government may overlook costs for strategic infrastructure projects, such as roads and railways, to strengthen control over sensitive regions [5][7]. Group 3: Investment Opportunities and Market Dynamics - The article suggests that the current phase of investment could be a catalyst for a bull market, with companies like China Power Construction and China Energy Engineering being primary beneficiaries [6]. - The second phase of investment will likely expand to include supporting infrastructure and environmental restoration, given the ecological sensitivity of Tibet [6]. - The third phase will focus on companies that will benefit from local economic development and urban construction [6]. Group 4: Historical Context and Future Outlook - Historical projects like the Three Gorges Dam illustrate the challenges of meeting increasing electricity demand, as the original supply goals have become insufficient due to rapid urban growth [8]. - The article posits that while China currently does not face an electricity shortage, future demands, particularly from electric vehicles, could change this situation [7][13].

Group 1 - The China Convertible Bond Index opened up by 0.08% [1] - Tianlu Convertible Bond increased by 20% [1] - Bo22 Convertible Bond rose nearly 17% [1] - Feilu Convertible Bond gained 14.6% [1] - Yinxin Convertible Bond increased by 5.7% [1] Group 2 - Hongfeng Convertible Bond decreased by 7.8% [1] - Borui Convertible Bond fell by 3.3% [1] - Sairui Convertible Bond dropped by 2.2% [1]

Group 1 - The company issued 8 million convertible bonds with a total value of 800 million yuan, approved by the China Securities Regulatory Commission on July 1, 2022 [1] - The convertible bonds, named "博22转债" with code "113650", began trading on the Shanghai Stock Exchange on July 28, 2022 [1] - As of July 8, 2025, the controlling shareholder, 江苏博特新材料有限公司, has reduced its holdings of the convertible bonds from 2,005,740 to 1,164,480, representing a decrease from 25.07% to 14.56% [1]

Key Points - The company Jiangsu Subote New Materials Co., Ltd. issued 8 million convertible bonds on July 1, 2022, with a total value of 800 million yuan [1] - The bonds, named "Bo 22 Convertible Bonds," have a maturity of 6 years and a tiered interest rate starting from 0.30% in the first year to 3.00% in the sixth year [1] - The conversion price for the bonds is set at 23.95 yuan per share [1] Conversion Status - As of June 30, 2025, a total of 125,000 yuan of the Bo 22 Convertible Bonds has been converted into 5,321 shares, representing approximately 0.001266% of the company's total shares before conversion [2][3] - No bonds were converted during the quarter from March 31, 2025, to June 30, 2025, with a conversion amount of 0 yuan and 0 shares issued [2][3] Share Capital Changes - The total share capital remains unchanged at 432,614,119 shares, with no new shares issued from the convertible bond conversions [2]

Group 1 - The company has announced a cash dividend distribution plan for the fiscal year 2024, where shareholders will receive 1 yuan (including tax) for every 10 shares held [1][2] - The dividend distribution will be based on the total share capital as of the record date, which is set for June 4, 2025 [1][2] - The company will adjust the conversion price of its convertible bonds in accordance with the terms outlined in the bond issuance prospectus following the dividend distribution [1] Group 2 - The company will stop the conversion of its "博22转债" convertible bonds from June 4, 2025, until the record date for the dividend distribution [2] - The announcement regarding the implementation of the dividend distribution and the adjustment of the convertible bond conversion price will be disclosed on June 5, 2025 [2] - Holders of the convertible bonds wishing to enjoy the dividend distribution must convert their bonds before June 3, 2025 [2]