Wujin convertible bond nears trigger for conversion price cut

Jiangsu Wujin Stainless Steel Co. issued an indicative announcement regarding the potential trigger of a downward revision in the conversion price for its "Wujin convertible bond." The company's A-share stock price has seen ten trading days of closing prices below 85% of the current conversion price, which is 6.74 yuan per share, between August 14, 2025, and August 27, 2025.

According to the prospectus, a downward revision will be triggered if the company's A-share stock price closes below 85% of the current conversion price for at least fifteen trading days within any consecutive thirty trading days. If the stock price continues this trend for five more trading days within the next twenty consecutive trading days, the conditions for a downward adjustment will be met. The initial conversion price was 8.55 yuan per share, and it is currently 7.93 yuan per share after previous adjustments due to dividend distributions in 2023 and 2024.

Upon trigger, the company's board of directors will convene to decide whether to amend the conversion price, with the decision and any subsequent adjustments communicated through official channels. Investors are advised to monitor the company's future announcements for updates on this potential revision.