SDIC Capital's convertible bonds may face conversion price adjustment

SDIC Capital announced that its "SDIC Convertible Bonds" are expected to trigger a downward adjustment to their conversion price. As of December 4, 2025, the company's stock has traded below 80% of the current conversion price of 9.42 yuan per share for ten trading days between November 21, 2025, and December 4, 2025. This means the stock price has been below 7.54 yuan per share for ten days during this period.

If the stock's closing price remains below 7.54 yuan per share for five more trading days within the next twenty consecutive trading days, the downward revision condition will be met. The current conversion price is 9.42 yuan per share, initially set at 15.25 yuan per share when the bonds were issued on July 24, 2020. Subsequent adjustments have led to the current price.

Upon triggering, SDIC Capital's board will convene to decide whether to formally revise the conversion price downwards, in accordance with the bond's prospectus. Investors are advised to monitor subsequent announcements from the company regarding this potential adjustment and associated risks.