Meijin Energy advances asset restructuring, faces convertible bond adjustment

Shanxi Meijin Energy (SZSE:000723) is moving forward with its plan to acquire assets through a share issuance, specifically targeting stakes in coal mining companies held by Meijin Energy Group and other investment firms. Simultaneously, the company faces the possibility of downward revisions to the conversion price of its "Meijin Convertible Bonds." This is because its stock has traded below 85% of the current conversion price for 10 trading days. The company is deciding whether to propose adjustments to shareholders. The restructuring plan, still in progress, involves further analysis of target assets and requires additional approvals and regulatory steps. Once audits and evaluations are completed, the plan will be submitted for board review.