Group 1 - Aikodi's shareholders plan to reduce their holdings by no more than 3% of the company's shares [1] - Hangxin Technology received a warning letter from the Guangdong Securities Regulatory Bureau for failing to timely disclose new borrowing matters [1] - Tianchuang Fashion is planning a change of control, resulting in a stock suspension [1] Group 2 - Blue Sky Gas's controlling shareholder, Blue Sky Group, has nearly all of its shares pledged and frozen, with an additional 37.1843 million shares newly pledged [1] - As of December 18, 2025, Blue Sky Group and its actual controller, Li Xinhua, have most of their shares pledged and frozen, with a total of 215 million shares under pending freezing and 6.5561 million shares judicially marked [1] Group 3 - Several convertible bonds are undergoing strong redemption, including the Bo23 Convertible Bond and the Furong Convertible Bond [1] - Other convertible bonds, such as the Lege Convertible Bond and the Shenghong Convertible Bond, will not undergo adjustments [1] Group 4 - The current prices and redemption prices of various convertible bonds are listed, with specific details on their last trading dates and conversion values [4][6]

（文章来源：证券日报） 证券日报网讯 12月19日晚间，东方盛虹发布公告称，公司于 2025 年 12 月 19 日召开第九届董事会第三 十四次会议，审议通过了《关于不向下修正"盛虹转债"转股价格的议案》。结合当前的市场情况及公司 自身实际情况，出于投资者利益的考虑，公司董事会决定本次不行使"盛虹转债"的转股价格向下修正的 权利，且在未来一个月（2025 年 12 月 20 日至 2026 年 1 月 19 日）内，如再次触发《江苏东方盛虹股 份有限公司公开发行 A 股可转换公司债券募集说明书》中约定的"盛虹转债"转股价格向下修正条款， 亦不提出向下修正方案。 ...

（文章来源：证券日报） 证券日报网讯 12月19日，东方盛虹发布公告称，公司第九届董事会第三十四次会议审议通过《关于不 向下修正"盛虹转债"转股价格的议案》。 ...

每经AI快讯，东方盛虹（SZ 000301，收盘价：10.07元）12月19日晚间发布公告称，公司第九届第三十 四次董事会会议于2025年12月19日以通讯表决方式召开。会议审议了《关于不向下修正"盛虹转债"转股 价格的议案》等文件。 2025年1至6月份，东方盛虹的营业收入构成为：石化及化工新材料占比79.86%，化纤占比18.43%，其 他行业占比1.71%。 截至发稿，东方盛虹市值为666亿元。 每经头条（nbdtoutiao）——海南封关首日直击：为中国探路，全球最大自贸港如何重塑开放边界？ （记者 曾健辉） ...

证券日报网讯 12月11日晚间，东方盛虹发布公告称，根据《江苏东方盛虹股份有限公司公开发行A股可 转换公司债券募集说明书》的规定，在本次发行的可转换公司债券（简称"可转债"）存续期间，公司股 票在任意30个连续交易日中至少15个交易日的收盘价格低于当期转股价格的80%时，公司董事会有权提 出转股价格向下修正方案并提交公司股东会表决。2025年12月1日至2025年12月11日期间，公司股票已 有9个交易日的收盘价低于"盛虹转债"当期转股价格的80%，预计将触发"盛虹转债"转股价格向下修正 条件。 （文章来源：证券日报） ...

东方盛虹公告，2025年12月1日至2025年12月11日期间，公司股票已有9个交易日的收盘价低于"盛虹转 债"当期转股价格的80%，预计将触发"盛虹转债"转股价格向下修正条件。 ...

Group 1 - The report suggests a cautious investment strategy in the convertible bond market due to reduced liquidity and market volatility, recommending a defensive approach with a focus on large-cap, debt-oriented products and value styles [2][50]. - The recommended allocation includes 70% in defensive sectors such as infrastructure, military, refining, and banking, while 30% is allocated to high-elasticity sectors like consumption and technology, which may benefit from potential policy support [2][50]. - The report highlights a recommended convertible bond portfolio for December, including specific bonds such as Shanlu Convertible Bond and Shenghong Convertible Bond, among others [2][50]. Group 2 - The report reviews the convertible bond market in November, noting a 2.2% decline in the stock market and a 0.7% decline in convertible bonds, with a shift towards defensive sectors [4][6]. - It indicates that the convertible bond market is expected to maintain high volatility, with a focus on the continuation of style shifts and policy impacts from upcoming central meetings [35][46]. - The report emphasizes the performance of various sectors, with steel bonds leading gains at 11.8%, while non-bank financials and telecommunications experienced declines [19][22]. Group 3 - The report discusses the performance of quantitative strategies, noting that low-volatility strategies outperformed high-volatility strategies in the recent period, with year-to-date returns of 16.55% for low-volatility strategies [52][53]. - It highlights the importance of low-price factors in convertible bond selection, which have historically provided a safety margin while allowing for upside potential [53][55]. - The report provides insights into the market structure, indicating a significant reduction in the overall market size of convertible bonds, which has implications for future valuations and investment strategies [35][39].

Group 1 - The article discusses various convertible bonds, highlighting proposals for adjustments and redemption actions [1][2] - Jia Yuan Convertible Bond proposes a down adjustment, while Jiao Jian Convertible Bond is subject to strong redemption [1][2] - The controlling shareholders of Yu Bang Electric Power, Tai Rui Machinery, and Ou Lu Tong plan to reduce their stakes by no more than 3%, 2.95%, and 1.74% respectively [1] Group 2 - A table lists 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] - Notable convertible bonds include Hao Peng Convertible Bond with a current price of 157.511 and a conversion value of 157.93, and Zhong Zhuang Convertible Bond with a current price of 84.967 and a conversion value of 85.22 [4][6]

Core Viewpoint - The company is expected to trigger the condition for downward adjustment of the conversion price for its convertible bonds due to the stock price falling below 80% of the current conversion price for a significant number of trading days [4][6][7]. Summary of Relevant Sections Convertible Bond Issuance Overview - The company issued 50 million convertible bonds with a total amount of 500 million yuan, with a maturity of 6 years, starting from April 21, 2021 [2][5]. - The bonds are traded under the name "盛虹转债" with the code "127030" [5]. Conversion Price Adjustment Clause - The conversion price can be adjusted downward if the company's stock price is below 80% of the current conversion price for at least 15 out of 30 consecutive trading days [4][6]. - The current conversion price is set at 13.21 yuan per share, meaning the threshold for adjustment is 10.568 yuan per share [5][6]. Expected Trigger for Price Adjustment - From August 8 to August 20, 2025, the company's stock price has already fallen below the adjustment threshold for 9 trading days, indicating a likely trigger for the downward adjustment of the conversion price [6][7]. Adjustment Procedure - If the company decides to adjust the conversion price, it will announce the decision through official channels, including the Shenzhen Stock Exchange [6][7].

Group 1 - The company held its 17th meeting of the 9th Supervisory Board on August 8, 2025, with all 5 supervisors present, confirming compliance with legal and regulatory requirements [1] - The Supervisory Board approved the borrowing from the controlling shareholder and related parties, stating it is necessary for production and operational development, and that the borrowing rates are fair [1][2] - The decision was made with a vote of 3 in favor, 0 against, and 0 abstentions, with two supervisors recusing themselves from the vote for prudence [1]