Yifeng Pharmacy opts against convertible bond price revision

Yifeng Pharmacy Chain announced its decision not to revise downwards the conversion price of its "Yifeng Convertible Bonds" (113682), even though the trigger condition for such a revision was met. Between September 17, 2025, and October 15, 2025, the company's stock closing price fell below 85% of the current conversion price of 31.84 yuan for at least fifteen trading days, triggering the adjustment clause. This decision was made at a board meeting on October 15, 2025.

The company further stated it would not propose a downward revision of the conversion price should the clause be triggered again within the next three months (from October 16, 2025, to January 15, 2026). The next period for recalculating the trigger for a downward revision will commence on January 16, 2026. The board will then reassess whether to exercise the right to revise the conversion price downwards.

The initial conversion price for "Yifeng Convertible Bonds," which commenced trading on March 27, 2024, was 39.85 yuan per share. Due to various equity distribution plans, the conversion price has been adjusted multiple times, most recently to 31.84 yuan per share, effective September 17, 2025.