证券代码：688388 证券简称：嘉元科技 公告编号：2025-095 转债代码：118000 转债简称：嘉元转债 广东嘉元科技股份有限公司 可转债转股结果暨股份变动公告 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、准确性和完整性依法承担法律责任。 重要内容提示： ● 转股情况：自2025年7月1日至2025年9月30日期间，"嘉元转债"共有人民币475,000元已转换为公司股 票，转股数量为14,282股，占"嘉元转债"转股前公司已发行股份总额的0.0062%。自2021年9月1日至 2025年9月30日，累计共有人民币262,127,000元已转换为公司股票，累计转股数量3,337,657股，占"嘉元 转债"转股前公司已发行股份总额的1.4456%。 ● 未转股可转债情况：截至2025年9月30日，"嘉元转债"尚未转股的可转债金额977,873,000元，占"嘉元 转债"发行总量的78.8607%。 一、可转债发行上市概况 5、因公司实施2023年度权益分派方案，自2024年7月3日起转股价格由50.48元/股调整为50.47元/股，具 体内容详见 ...

Core Viewpoint - The company has announced a downward adjustment of the conversion price for its convertible bonds, "Jia Yuan Convertible Bonds," from 41.88 yuan per share to 33.18 yuan per share, effective from September 18, 2025 [4][11][26]. Group 1: Convertible Bond Issuance Overview - The company issued 12.4 million convertible bonds with a total value of 1.24 billion yuan on February 23, 2021, with a maturity period of six years [1][2]. - The initial conversion price was set at 78.99 yuan per share, with several adjustments made since then due to various corporate actions [3][5]. Group 2: Conversion Price Adjustment History - The conversion price was adjusted to 78.74 yuan per share on May 6, 2021, and further adjusted to 78.03 yuan per share on May 6, 2022, due to annual profit distribution [3][5]. - The conversion price was subsequently adjusted to 71.22 yuan per share on October 20, 2022, and then to 50.48 yuan per share on May 26, 2023, following additional corporate actions [5][6]. Group 3: Recent Price Adjustment Details - The conversion price was adjusted downwards to 41.88 yuan per share on July 11, 2024, and was triggered for further adjustment due to stock prices falling below 35.60 yuan per share [6][9][11]. - The final adjustment to 33.18 yuan per share was approved by the board on September 16, 2025, after considering the average stock prices leading up to the decision [10][11][26]. Group 4: Shareholder Meeting and Approval - The fourth extraordinary general meeting of shareholders was held on September 16, 2025, where the proposal to adjust the conversion price was passed with over two-thirds approval [19][25]. - The meeting was conducted in compliance with legal and regulatory requirements, ensuring the validity of the resolutions passed [20][23].

Group 1 - The core viewpoint of the article is that Shanghai Construction's stock is not a good investment due to its low profit margins and high debt levels [1] - Shanghai Construction has a gross margin of less than 10% and a net margin as low as 1%, indicating a highly competitive and challenging business environment [1] - The company's debt ratio is as high as 86%, with accounts payable amounting to 160 billion, which poses significant financial risks [1] Group 2 - The article mentions that despite the poor financial metrics, Shanghai Construction's stock has increased by over 60% since September 2013, outperforming the state-owned enterprise index ETF, which rose by 40% [1] - The author reflects on the importance of value investing, long-term investment, and diversification, suggesting that many investors may overlook these principles [1]

Group 1 - The core point of the article is that Jia Yuan Technology (SH 688388) announced a board meeting to discuss the proposal to adjust the conversion price of "Jia Yuan Convertible Bonds" [1] - For the fiscal year 2024, the revenue composition of Jia Yuan Technology is 85.9% from industrial operations and 14.1% from other businesses [1] - As of the report date, the market capitalization of Jia Yuan Technology is 14.7 billion yuan [1]

Group 1 - The report indicates that the convertible bond market experienced significant fluctuations in August, with the convertible bond index showing an upward trend but facing adjustments towards the end of the month due to various factors including the weakening of the banking sector and an increase in strong redemption of convertible bonds [3][6][7] - The strategy for September suggests a cautious approach towards convertible bonds, with expectations for lower returns due to the "dumbbell" style weakening and the potential for short-term adjustments in the market [3][33] - The report highlights the validation of the "potential yield" indicator system, which indicated a significant risk of short-term adjustments in the convertible bond market as the implied three-month yield fell below -5% [3][19][22] Group 2 - The report outlines a revised monthly strategy composition for September, which includes three components: short-term high-odds selection, low-price enhancement strategy, and active selection, reflecting the current market environment [3][35] - Specific convertible bonds are recommended for attention in September, including the high-odds selection of Pudong Development Bank Convertible Bond, and low-price enhancement strategies focusing on Jia Yuan, Jingke, Southeast, and Fangyuan Convertible Bonds [3][36][37] - The active selection strategy emphasizes avoiding bonds with a high likelihood of strong redemption while maintaining a focus on sectors with growth potential [3][38]

Core Viewpoint - The company proposes to lower the conversion price of its convertible bonds, "Jia Yuan Convertible Bonds," due to the triggering of the downward adjustment clause as the stock price has been below the specified threshold for a consecutive period [1][7]. Summary by Sections Convertible Bond Issuance Overview - The company issued 12.4 million convertible bonds on February 23, 2021, with a total value of 1.24 billion yuan, each with a face value of 100 yuan, and a maturity period of six years until February 22, 2027 [1][2]. Adjustment History of Conversion Price - The initial conversion price was set at 78.99 yuan per share, with subsequent adjustments made due to various corporate actions, including a reduction to 71.22 yuan per share following a specific issuance [2][3]. Downward Adjustment Clause - 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 at least 15 out of 30 consecutive trading days [6]. Recent Trigger for Adjustment - From August 8, 2025, to August 28, 2025, the company's stock price fell below 35.60 yuan (85% of the current conversion price of 41.88 yuan), triggering the adjustment clause [7]. Board Meeting and Shareholder Approval - The board of directors approved the proposal to lower the conversion price on August 28, 2025, with a unanimous vote of 9 in favor, and the proposal will be submitted for approval at the upcoming extraordinary general meeting of shareholders [7][8].

Group 1 - The company, 嘉元科技, is holding its fourth extraordinary general meeting of shareholders on September 16, 2025 [1][3] - The meeting will take place at the company's office in Guangdong Province, specifically in the first-floor conference room [1][6] - Shareholders can vote through the Shanghai Stock Exchange's online voting system, with voting available from 9:15 AM to 3:00 PM on the day of the meeting [1][3] Group 2 - The agenda includes a proposal to lower the conversion price of 嘉元转债, which has already been approved by the company's board [2][3] - Shareholders holding 嘉元转债 are required to abstain from voting on this proposal [2][4] - The meeting will feature both on-site and online voting methods, ensuring flexibility for shareholders [3][4] Group 3 - Shareholders must register to attend the meeting, with registration available from September 10, 2025 [4][5] - The company has provided contact information for inquiries related to the meeting, including phone and email [6]

嘉元转债：提议下修 交建转债：强赎 煜邦电力：控股股东及实控人拟减持不超3%公司股份 泰瑞机器：实控人拟减持不超2.95%公司股份 欧陆通：控股股东及实控人拟减持不超1.74%公司股份 | 转债代码 | 转债名称 | 类型 | 日期 | 公告 | | --- | --- | --- | --- | --- | | 127052 | 西子转债 | 强陵 | 2025-08-29 | 公告 | | 127030 | 盛虹转债 | 不下修 | 2025-08-29 | 公告 | | 128132 | 交建转债 | 強赎 | 2025-08-29 | 公告 | | 127067 | 恒逸转2 | 不下修 | 2025-08-29 | 公告 | | 118000 | 嘉元转债 | 提议下修 | 2025-08-29 | 公告 | | 转债代码 | 转债名称 | 现价 | 强赎价 | 最后交易日 | 最后转股日 | 转股价值 | 剩余规模 | 转债占正股 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | | (亿元) | 流通市 ...

Summary of Key Points Core Viewpoint - The article discusses recent developments in convertible bonds, including shareholder reduction plans, strong redemptions, and new listings on the North Exchange. Group 1: Shareholder Actions - Lino Pharmaceutical's shareholders plan to reduce their holdings by no more than 3.61% of the company's shares [1]. Group 2: Convertible Bonds - Strong redemptions are noted for Haopeng Convertible Bond and Dongcai Convertible Bond, while Zhongqi Convertible Bond will not undergo strong redemption [1]. - Several convertible bonds, including Yirui, Jiayuan, and Jinggong, will not undergo adjustments [1]. - The last trading day for Hexing Convertible Bond is set for August 12, 2025 [1]. Group 3: New Listings - Hongyuan Co., Ltd. will have its new shares available for subscription on August 11, 2023, on the North Exchange [1]. - Youli Intelligent and two South Data Center REITs have been listed [1]. Group 4: Convertible Bond Data - A detailed table of convertible bonds includes information such as current price, redemption price, last trading day, conversion value, remaining scale, and the proportion of convertible bonds to the underlying stock [1][4][6]. - For example, the current price of Hexing Convertible Bond is 111.701, with a redemption price of 110.000 and a last trading day of August 12, 2025 [4].

证券日报网讯 8月7日晚间，嘉元科技发布公告称，经公司第五届董事会第五十次会议审议，公司董事 会决定本次不向下修正"嘉元转债"的转股价格，自本次董事会审议通过后次一交易日起（即2025年8月8 日起）重新计算，若再次触发"嘉元转债"转股价格向下修正条款，届时公司董事会将再次召开会议决定 是否行使"嘉元转债"的转股价格向下修正权利。 （编辑 楚丽君） ...