Core Viewpoint - The company has decided not to lower the conversion price of its convertible bonds despite triggering conditions for a downward adjustment due to stock price performance [4][10][11]. Group 1: Meeting and Resolutions - The company's board of directors held a temporary meeting on August 7, 2025, with all 9 directors present, and the meeting was deemed valid [1]. - The board unanimously approved the proposal not to adjust the conversion price of the "精工转债" convertible bonds [1][4]. Group 2: Convertible Bond Details - The company issued 20 million convertible bonds with a total value of RMB 2 billion, with a maturity of 6 years and a tiered interest rate starting from 0.3% in the first year [6]. - The initial conversion price was set at RMB 5.00 per share, which has been adjusted multiple times due to equity distributions and share buybacks, currently standing at RMB 4.79 per share [7]. Group 3: Trigger Conditions and Decision - From July 18 to August 7, 2025, the company's stock closed below 80% of the current conversion price for 15 trading days, triggering the adjustment clause [4][10]. - The board considered various factors, including the company's fundamentals and market conditions, and decided not to propose a downward adjustment for the conversion price, even if the trigger conditions are met again within the next month [11].

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].

Group 1 - The stock price of Jinggong Steel Structure closed at 3.27 yuan on July 31, 2025, down 0.08 yuan, a decrease of 2.39% from the previous trading day [1] - The trading volume on that day was 301,600 hands, with a transaction amount of 99 million yuan, resulting in a turnover rate of 1.52% [1] - Jinggong Steel Structure's main business includes the design, manufacturing, and installation of steel structure buildings, covering areas such as prefabricated buildings and data centers [1] Group 2 - The company announced that from July 18 to July 31, the closing price of the stock had been below 80% of the current conversion price for 10 trading days, which may trigger the adjustment conditions for the "Jinggong Convertible Bonds" conversion price [1] - If the conditions are met, the company will convene a board meeting to consider whether to adjust the conversion price [1] - On July 31, the net outflow of main funds from Jinggong Steel Structure was 18.2061 million yuan, accounting for 0.28% of the circulating market value [1]

Core Viewpoint - The article discusses the adjustments in the conversion prices of various convertible bonds, highlighting specific changes and upcoming subscription dates for certain bonds [1]. Group 1: Convertible Bond Adjustments - The conversion price for "Hangyang Convertible Bond" has been adjusted from 26.59 CNY/share to 25.98 CNY/share, reflecting a decrease of 2% [1]. - Other convertible bonds such as Jianlong Convertible Bond, Tian23 Convertible Bond, Jiayuan Convertible Bond, and Jinggong Convertible Bond have not undergone any adjustments [1]. - The subscription dates for the "Xizhen Convertible Bond" and "Huachen Convertible Bond" are set for June 18 and June 20, respectively [1]. Group 2: Shareholder Actions - Guizhou Gas has reported that 147 million shares held by shareholder Beijing Dongjia have been frozen [1]. - Liyang Chip's shareholder plans to transfer 3.25% of its shares through an inquiry [1].

Core Points - The company announced a cash dividend of 0.08 RMB per share for the fiscal year 2024, totaling approximately 159.21 million RMB [2][4] - The dividend distribution plan was approved at the annual shareholders' meeting held on May 22, 2025 [2][15] - The dividend will be distributed to all shareholders registered with the China Securities Depository and Clearing Corporation Limited Shanghai Branch as of the close of trading on the record date [3] Dividend Distribution Details - The total share capital before the distribution is 1,990,124,341 shares, with a total cash dividend payout of 159,209,947.28 RMB [4] - The distribution method includes cash dividends being paid through the clearing system of the China Securities Depository and Clearing Corporation [5] - There will be no differentiated dividend distribution or stock bonus [6] Tax Implications - For individual shareholders holding shares for over one year, the cash dividend is exempt from personal income tax, resulting in an effective payout of 0.08 RMB per share [7] - For shares held for less than one year, tax will be withheld upon transfer, with a tax burden of 20% for shares held for one month or less, and 10% for shares held between one month and one year [8] - For Qualified Foreign Institutional Investors (QFIIs), a 10% withholding tax applies, leading to a net dividend of 0.072 RMB per share [9] Convertible Bond Adjustment - The company announced an adjustment to the conversion price of its convertible bonds, reducing it from 4.87 RMB to 4.79 RMB per share, effective June 23, 2025 [18][19] - The adjustment is based on the company's dividend distribution and follows the terms outlined in the bond's offering document [16][19] - The convertible bonds will be suspended from conversion from June 16 to June 20, 2025, and will resume conversion on June 23, 2025 [13][18]

Group 1 - The company issued convertible bonds totaling RMB 2 billion, approved by the board and shareholders in 2021, with a maturity of 6 years [1][2][3] - The bonds were issued at a face value of RMB 100 each, with a total of 20 million bonds sold, raising RMB 200 million after expenses [1][2] - The interest rates for the bonds are structured to increase over the years, starting at 0.3% in the first year and reaching 2.0% in the sixth year [1][2] Group 2 - The initial conversion price for the bonds was set at RMB 5.00 per share, with adjustments made due to dividend distributions, currently at RMB 4.86 per share [2][10][11] - The company has provisions for redeeming the bonds at 112% of the face value plus interest if certain conditions are met, such as stock prices exceeding 130% of the conversion price [4][5] - Holders of the convertible bonds have the right to sell them back to the company if the stock price falls below 70% of the conversion price during the last two years of the bond's term [5][6] Group 3 - The company reported a revenue of RMB 18.49 billion in 2024, a 12.03% increase from the previous year, while net profit decreased by 6.69% to RMB 512 million [7][8] - Total assets increased by 9.80% to RMB 25.61 billion, with equity attributable to shareholders rising by 5.05% to RMB 8.94 billion [7][8] - The company has utilized RMB 187.62 million of the raised funds, with a remaining balance of RMB 11.31 million, primarily for operational liquidity [8]

Core Viewpoint - The company has decided not to lower the conversion price of its convertible bonds despite triggering conditions for a downward adjustment due to stock price performance [4][10]. Group 1: Meeting and Resolutions - The company's board of directors held a temporary meeting on May 26, 2025, with all nine directors present, and the meeting was deemed valid [1]. - The board unanimously approved the resolution not to adjust the conversion price of the "精工转债" convertible bonds [1][4]. Group 2: Convertible Bond Details - The company issued 20 million convertible bonds with a total value of 2 billion RMB, with a maturity of six years and a tiered interest rate starting from 0.3% in the first year [5]. - The initial conversion price was set at 5.00 RMB per share, which has been adjusted multiple times due to equity distributions, with the latest adjustment bringing it to 4.87 RMB per share [6]. Group 3: Price Adjustment Trigger - From May 6 to May 7, 2025, the company's stock price closed below 80% of the previous conversion price (4.86 RMB), and from May 8 to May 26, it closed below 80% of the adjusted conversion price (4.87 RMB), triggering the adjustment clause [4][9]. Group 4: Decision Against Price Adjustment - The board considered various factors, including the company's fundamentals and market conditions, and decided against lowering the conversion price at this time [10]. - The board indicated that if the conditions for adjustment are triggered again, they will reconvene to decide on the matter [10].

Core Viewpoint - The company announced an adjustment to the conversion price of its convertible bonds due to the completion of share buybacks and cancellations, effective from May 8, 2025, with the new conversion price set at 4.87 CNY per share, up from the previous 4.86 CNY per share [1][9][10]. Group 1: Convertible Bond Details - The company issued 20 million convertible bonds on April 22, 2022, with a total value of 2 billion CNY and a maturity of 6 years [1][2]. - The initial conversion price was set at 5.00 CNY per share, which has been adjusted multiple times due to equity distributions, with the latest adjustment prior to the current one being to 4.86 CNY per share [2][4]. Group 2: Share Buyback and Cancellation - The company approved a change in the purpose of previously repurchased shares from employee stock ownership plans to cancellation to reduce registered capital, resulting in the cancellation of 22,766,035 shares [6][11]. - Following the cancellation, the registered capital will decrease from 2,012,890,171 CNY to 1,990,124,136 CNY, and the total share count will reduce correspondingly [11][12]. Group 3: Price Adjustment Formula - The adjustment of the conversion price is based on a formula that accounts for share buybacks and other equity changes, ensuring that the interests of convertible bondholders are protected [3][5][8]. - The new conversion price calculation resulted in an increase to 4.87 CNY per share, reflecting the impact of the share buyback [9].

Group 1 - The core viewpoint of the article highlights significant corporate actions, including shareholding changes and financial performance warnings for specific companies [1] Group 2 - JiaLian Technology's shareholders plan to reduce their holdings by no more than 3% of the company's shares [1] - ShengXun Co. reported a negative net profit and operating income below 300 million, leading to a delisting risk warning, with a resumption of trading on May 6 [1] - ST TianChuang has removed the delisting risk warning as of May 6 [1] - The convertible bonds mentioned (TeZhi, Tian23, JiaYuan, JingGong) will not undergo adjustments [1]

Core Points - The company has issued a total of 20 billion RMB in convertible bonds, with a conversion period from October 28, 2022, to April 21, 2028 [1][2] - As of March 31, 2025, only 0.0008% of the total shares have been converted from the convertible bonds, indicating a low conversion rate [1][2] - The remaining unconverted amount of the convertible bonds is 1,999,922,000 RMB, which constitutes 99.9961% of the total issuance [1][3] Convertible Bond Issuance - The company received approval from the China Securities Regulatory Commission to publicly issue 20 million convertible bonds at a face value of 100 RMB each, totaling 20 billion RMB [2] - The initial conversion price was set at 5.00 RMB per share, which has been adjusted to 4.96 RMB, 4.92 RMB, and will further adjust to 4.86 RMB due to annual equity distributions [2] Conversion Status - During the conversion period from December 31, 2024, to March 31, 2025, the total amount converted was only 1,000 RMB, resulting in the issuance of 205 new shares [1][2] - The total number of shares before conversion was 2,012,889,966, and after conversion, it increased to 2,012,890,171 [3]