Group 1 - The company held its 17th meeting of the third board of directors on June 20, 2025, with all 9 directors present, complying with relevant laws and regulations [1][2] - The board approved the proposal not to lower the conversion price of the "Jia Mei Convertible Bonds," with a unanimous vote of 9 in favor [1] - The board also approved the adjustment of the company's comprehensive credit application to DBS Bank, again with a unanimous vote of 9 in favor [2]

Core Viewpoint - The company has triggered the downward adjustment clause for its convertible bonds due to stock prices being below 85% of the conversion price for at least 15 out of the last 30 trading days, but the board has decided not to implement the downward adjustment at this time [1][6][7]. Summary of Convertible Bonds - The company issued convertible bonds with a total amount of RMB 750 million, with an initial conversion price set at RMB 4.87 per share [1]. - The conversion price has been adjusted multiple times: from RMB 4.87 to RMB 4.86 on May 30, 2022, then to RMB 4.85 on June 8, 2023, and further down to RMB 4.62 on January 24, 2024, and subsequently to RMB 4.59 on May 28, 2024, and finally to RMB 4.58 on September 6, 2024, and RMB 4.57 on May 27, 2025 [2][3][5][7]. - The company has the right to propose a downward adjustment of the conversion price if the stock price conditions are met, which requires a two-thirds majority approval from shareholders [6]. Decision on Downward Adjustment - The board of directors decided not to proceed with the downward adjustment of the conversion price despite the triggering conditions being met, citing confidence in the company's long-term potential and market conditions [7]. - The company will not propose any downward adjustment for the next six months, from June 30, 2025, to December 29, 2025, even if the conditions are triggered again [7].

Group 1 - The company issued 7,500,000 convertible bonds with a total amount of RMB 750 million, which started trading on September 8, 2021 [1][2] - The initial conversion price for the bonds was set at RMB 4.87 per share, which has undergone several adjustments due to stock price fluctuations [2][3][5] - The company has triggered conditions for a potential downward adjustment of the conversion price, as the stock price has been below 85% of the current conversion price for 10 consecutive trading days [1][8][9] Group 2 - The conversion period for the bonds is from February 14, 2022, to August 8, 2027, allowing bondholders to convert their bonds into shares during this timeframe [2] - The company has outlined specific conditions under which the conversion price can be adjusted downward, requiring approval from shareholders [8][9] - The company is obligated to disclose any decisions regarding the adjustment of the conversion price promptly following board meetings [9]

Group 1 - The company announced an adjustment to the conversion price of its convertible bonds due to a cash dividend distribution [1][2] - The total amount of cash dividends distributed is calculated based on the number of shares participating in the distribution and the distribution ratio, resulting in a total of approximately 9.48 million RMB [3] - The adjusted conversion price after the cash dividend distribution is approximately 4.57 RMB per share, down from the previous price of 4.58 RMB per share [4] Group 2 - The company issued 7.5 million convertible bonds with a total value of 750 million RMB, with a face value of 100 RMB per bond [1] - The conversion period for the bonds is from February 14, 2022, to August 8, 2027, with the new conversion price effective from May 27, 2025 [4] - The company will adjust the conversion price in accordance with relevant regulations whenever there are changes in share capital or shareholder equity [2][3]

Group 1 - The company will implement the 2024 annual equity distribution, during which the convertible bonds (referred to as "Jia Mei Convertible Bonds") will suspend conversion from May 19, 2025, until the registration date for the equity distribution [1][2] - The conversion period for the Jia Mei Convertible Bonds is from February 14, 2022, to August 8, 2027 [1] - After the equity distribution, the conversion of the bonds will resume on the first trading day following the registration date for the equity distribution [1] Group 2 - The adjustment of the conversion price will be based on specific formulas outlined in the company's prospectus, which accounts for stock dividends, capital increases, new share issuances, and cash dividends [2][3] - The formulas for adjusting the conversion price include various scenarios such as stock dividends, capital increases, and cash dividends, ensuring that the conversion price reflects the changes in equity structure [2][3] - The company will announce any adjustments to the conversion price through official channels, ensuring transparency and adherence to regulatory requirements [3][4]