Jinko Power decides against lowering convertible bond price

Jinko Power Technology (SSE:601778) announced that it will not adjust downward the conversion price of its "Jinko Convertible Bonds" (SSE:113048), despite the bonds triggering the downward revision clause as of March 31, 2025. The decision was made during the company's third board meeting, twenty-first session. The next period for triggering a conversion price adjustment will begin on April 1, 2025. The initial conversion price of the bonds was CNY 6.75 per share but has been adjusted several times since issuance due to equity distributions and a non-public stock offering. The current conversion price stands at CNY 5.24 per share. The bonds, issued on April 23, 2021, have a six-year term with a total issuance of CNY 3 billion.