Jinko Power opts not to lower convertible bond price

Jinko Power Technology Co., Ltd. [SSE:601778] announced that its board of directors has decided not to adjust downward the conversion price of its "Jinko Convertible Bonds," despite the bonds triggering the downward revision clause on May 16, 2025. According to the announcement, the bond triggered the clause when the company's A-share stock price fell below 90% of the current conversion price of CNY 5.24 per share for 15 out of 30 consecutive trading days. The next trigger period will be recalculated starting from May 19, 2025. Jinko Power issued CNY 3 billion of convertible bonds on April 23, 2021, with a maturity of six years. The current conversion price of the “Jinko Convertible Bonds” is CNY 5.24 per share. The decision was made considering the company's fundamentals, stock price performance, market conditions, and confidence in long-term growth.