Kibing Group cuts convertible bond conversion price

Zhuzhou Kibing Group Co., Ltd. announced a downward revision of the conversion price for its "Kibing Convertible Bonds," effective July 8, 2025. The new conversion price is set at CNY 5.43 per share, down from the previous CNY 6.12 per share. Trading of the bonds was suspended on July 7, 2025, and will resume on July 8, 2025. This adjustment was prompted by the bond's terms allowing for price revisions if the company's stock price falls below a certain threshold. As per the terms of the bond agreement, the board of directors was authorized to make these adjustments after shareholder approval on July 4, 2025. The initial conversion price was CNY 13.15 per share. The "Kibing Convertible Bonds," with the code 113047, were originally issued on April 9, 2021, with a total value of CNY 1,500,000,000 and a term of six years.