Meijin Energy opts against lowering convertible bond conversion price

Shanxi Meijin Energy has announced that its board of directors has resolved not to exercise its right to lower the conversion price of its "Meijin Convertible Bonds". This decision comes despite the company's stock triggering the downward revision clause as of July 3, 2025. The company stated that the decision was made considering the company's overall situation, stock trends, market environment, and confidence in the long-term stable development and intrinsic value of the company, as well as the protection of the interests of all investors. According to the announcement, if the downward revision clause is triggered again, the board of directors will convene another meeting to decide whether to exercise the right to lower the conversion price. The original conversion price was CNY 13.21 per share, which was adjusted down to CNY 5.26 per share on June 26, 2024. As of April 20, 2022, the company issued 35,900,000 convertible bonds with a par value of CNY 100, raising a total of CNY 359,000,000.