Qixiang Tengda's convertible bond may see conversion price revised downward

Zibo Qixiang Tengda Chemical announced that its convertible bond, "Qixiang Zhuan 2," is projected to trigger conditions for a downward revision of its conversion price. As of September 30, 2025, the company's stock closing price had fallen below 90% of the current conversion price (yuan 5.37 per share) for five trading days since September 23, 2025. This meets criteria in the bond's prospectus, allowing the board of directors to propose a downward revision if the stock price falls below 90% of the conversion price for at least ten trading days within any twenty consecutive trading days.

The initial conversion price for "Qixiang Zhuan 2," issued on August 20, 2020, was yuan 8.22 per share. Due to equity distribution schemes, the price has been adjusted multiple times, with the latest adjustment on June 16, 2025, setting it at yuan 5.37 per share. The company emphasizes that if the revision condition is triggered, it will follow stipulated review procedures and disclosure obligations.

Investors are advised to review the full prospectus for "Qixiang Zhuan 2" on the CNINFO website or contact the company for further information. The company will announce whether it will revise the conversion price on the next trading day following the board meeting.