Universal Scientific Industrial adjusts convertible bond price, conversion temporarily halted

Universal Scientific Industrial (Shanghai) (SSE:601231) has adjusted the conversion price of its "Universal Scientific Industrial convertible bonds" from CNY 18.59 per share to CNY 18.58 per share, effective November 17, 2025. This adjustment follows the exercise of stock options under the company’s 2015 and 2023 incentive plans, which increased the total share capital by 6,123,032 shares between August 29, 2025, and November 12, 2025. The conversion of these bonds will be suspended on November 14, 2025, and resume on November 17, 2025.

In a related development, the company completed its industrial and commercial registration changes, updating its registered capital to RMB 2,196,393,270 and obtaining a renewed business license. These changes followed resolutions passed at board and general meetings in August and September 2025, concerning amendments to the company's Articles of Association and cancellation of the supervisory board.

The convertible bonds, issued on March 4, 2021, with a total value of RMB 3.45bn, began trading on the Shanghai Stock Exchange on April 2, 2021. The initial conversion price was CNY 20.25 per share, and the conversion period extends from December 10, 2021, to March 3, 2027.