Group 1 - The core viewpoint of the article discusses the strategic restructuring plans of controlling shareholders of Shenma Co. and Pingmei Co. [1] - Shenma Co. and Pingmei Co. are undergoing significant changes in their corporate structure, indicating potential shifts in their operational strategies and market positioning [1] - The restructuring may lead to enhanced operational efficiency and better resource allocation within the companies [1] Group 2 - Fangyuan Co. has signed a technology export cooperation agreement with a Japanese company and a target company, indicating potential growth opportunities through international collaboration [5] - Milkway's actual controller and shareholders plan to reduce their holdings by no more than 4.02% of the company's shares, which may impact investor sentiment [5] - Longda Meishi's controlling shareholder has had 0.7% of their shares judicially frozen, which could affect the company's stock performance [5] - Qibin Group plans to repurchase shares worth between 100 million to 200 million yuan, reflecting confidence in the company's future [5]

垒知控股集团股份有限公司公告，"垒知转债"（债券代码：127062）当前转股价格为7.59元/股，转股期 限为2022年10月27日至2028年4月20日。自2025年9月5日至18日，公司股票在连续30个交易日中已有连 续10个交易日收盘价低于当期转股价格的85%（即6.45元/股），预计触发转股价格向下修正条件。若触 发，公司将按规定履行审议程序和信息披露义务。投资者可查阅相关募集说明书，注意投资风险。 ...

Group 1 - The core point of the article is that Leizhi Group's board of directors has approved a proposal not to adjust the conversion price of "Leizhi Convertible Bonds" downwards [2] Group 2 - The decision was made during the 34th meeting of the sixth board of directors [2] - The announcement was made on the evening of September 4 [2]

Meeting Notification and Conduct - The 34th meeting of the 6th Board of Directors of Leizhi Holdings Group Co., Ltd. was held on September 4, 2025, in Xiamen, with all 9 directors present [1] - The meeting was convened in accordance with the Company Law of the People's Republic of China and the company's articles of association [1] Meeting Resolutions - The board approved the proposal not to lower the conversion price of "Leizhi Convertible Bonds," with a unanimous vote of 9 in favor, 0 against, and 0 abstentions [1] - The decision was made considering the company's fundamentals, stock price trends, market environment, and confidence in the company's long-term stable development [2] Future Considerations - From September 5, 2025, the conversion price will be recalculated, and if the stock price triggers the downward adjustment clause again, the board will convene to decide on the adjustment [2]

Core Viewpoint - Leizhi Group announced that its stock price has been below 85% of the current conversion price for 15 consecutive trading days, triggering conditions for a downward adjustment of the conversion price for its convertible bonds [1] Group 1 - As of September 4, 2025, the company's stock has closed below the conversion price threshold for 15 out of the last 30 trading days [1] - The company's board of directors decided not to adjust the conversion price of the "Leizhi Convertible Bonds" at this time [1] - From September 5, 2025, the company will recalculate the conversion price, and if the stock price triggers the adjustment clause again, the board will convene to decide on the adjustment [1]

蓝帆转债：提议下修 中环海陆：终止筹划公司控制权变更事项，9月5日复牌 特别提示 本文不构成任何投资建议，仅为信息分享。任何因本文导致的投资行为发生的亏损，本公众号及作者概不承担任何责任。 | 转债代码 | 转债名称 | 类型 | 日期 | 公告 | | --- | --- | --- | --- | --- | | 127062 | 垒知转债 | 不下修 | 2025-09-05 | 公告 | | 128108 | 蓝帆转债 | 提议下修 | 2025-09-05 | 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) | 流通市值比 | | 113064 | 东材转债 | 142.667 | 100.805 | 2025-09-02 | 2025-09-05 | 144.49 | 0.011 | 0.01% | | 123087 | 明电转债 | 149.750 | ...

Group 1 - The company, Leizhi Group, announced that its 34th meeting of the sixth board of directors was held on September 4, 2025, in Xiamen, where it reviewed the proposal regarding not adjusting the conversion price of "Leizhi Convertible Bonds" [1] - For the first half of 2025, Leizhi Group's revenue composition was as follows: new building materials accounted for 80.94%, comprehensive construction technology services 12.45%, software and hardware sales and services 5.6%, special construction industry 0.66%, and others 0.35% [1] - As of the report date, Leizhi Group's market capitalization was 3.6 billion yuan [1]

Core Viewpoint - The company has decided not to lower the conversion price of the "Leizhi Convertible Bonds" despite the stock price being below the current conversion price during the specified trading period [2][11]. Group 1: Convertible Bond Issuance and Pricing - The company was approved to issue convertible bonds with a net fundraising amount of RMB 390,460,551.88 after deducting issuance costs [2]. - The convertible bonds were listed on the Shenzhen Stock Exchange on May 20, 2022, with the bond code "127062" [3]. - The conversion period for the bonds is from October 27, 2022, to April 20, 2028 [3]. Group 2: Conversion Price Adjustments - The initial conversion price was set at RMB 7.74 per share, effective from June 8, 2022 [3]. - Subsequent adjustments to the conversion price occurred, with the latest adjustment setting the price at RMB 7.67 per share, effective from May 12, 2023 [6]. - The company has a mechanism for adjusting the conversion price if the stock price falls below 85% of the current conversion price for a specified period [10]. Group 3: Board Decision on Conversion Price - The board of directors decided not to exercise the option to lower the conversion price, considering the company's fundamentals, stock price trends, and market conditions [11]. - The board will reassess the situation after September 5, 2025, if the stock price triggers the conditions for a downward adjustment again [11].

Core Viewpoint - The article highlights the overdue status of commercial acceptance bills issued by the company, indicating potential liquidity issues and financial management concerns [1]. Group 1 - As of July 31, 2025, the total overdue balance of commercial acceptance bills amounts to 18.58 million yuan, with 1.80 million yuan already paid [1]. - The remaining unpaid overdue commercial acceptance bills total 16.78 million yuan [1]. Group 2 - The article provides a brief overview of various convertible bonds, including their redemption status and adjustments, indicating market activity and investor interest [2]. - Specific convertible bonds mentioned include Tian23, Huamao, Yaoshi, and others, with varying statuses on redemption and adjustments [2].

Core Viewpoint - The company, Leizhi Group, announced that it will not adjust the conversion price of its convertible bonds, "Leizhi Convertible Bonds," at this time, with a potential reevaluation set for August 15, 2025 [1] Summary by Relevant Sections - **Board Decision**: The decision was made during the 32nd meeting of the 6th Board of Directors, indicating a strategic choice to maintain the current terms of the convertible bonds [1] - **Future Considerations**: If the company's stock price triggers the downward adjustment clause for the conversion price in the future, the Board will reconvene to decide on the exercise of this right [1]