Xinyangfeng convertible bond nears downward price revision trigger

Xinyangfeng Agricultural Technology has announced that its "Yangfeng Convertible Bond" (bond code: 127031) is likely to trigger a downward revision of its conversion price. From August 11, 2025, to September 3, 2025, the company's stock closing price has been below 85% of the current conversion price (17.09 yuan/share), or 14.53 yuan/share, for 10 trading days. If this trend continues, the downward revision condition will be met. The company's board decided on February 10, 2025, not to exercise the downward revision right for a six-month period ending on August 10, 2025.

According to the terms, if the trigger condition is met, the board will convene a meeting to decide whether to adjust the conversion price and will disclose the decision on the next trading day. The current conversion price of the "Yangfeng Convertible Bond" was last adjusted to 17.09 yuan/share on May 20, 2025, following the 2024 annual profit distribution of 3.00 yuan cash per 10 shares.

The initial conversion price of the bond, issued on March 25, 2021, was 20.13 yuan/share, which has seen several adjustments due to profit distributions and a prior downward revision in December 2021. The latest adjustment followed the 2024 annual profit distribution, bringing the conversion price from 17.39 yuan/share to 17.09 yuan/share.