Great Wall Motor opts not to lower bond conversion price

Great Wall Motor Company announced that its board of directors has decided against lowering the conversion price of its "Changqi Convertible Bonds" (债券代码:113049), despite the trigger of a downward revision clause. This decision was made during the company's Eighth Session of the Board, Thirty-Eighth Meeting. The trigger occurred because the company's A-share stock price had fallen below 85% of the current conversion price for at least 15 out of 30 consecutive trading days between June 14, 2025, and July 4, 2025. Furthermore, the company stated that for the next six months (July 5, 2025, to January 4, 2026), it will not propose any downward revisions to the conversion price, even if triggered again. If the trigger is met after this period (starting January 5, 2026), the board will reconvene to decide on whether to exercise the right to lower the conversion price. As of the announcement, the current conversion price for the bonds is CNY 39.61 per share.