Zhejiang Construction Investment Group updates financials for asset acquisition, convertible bond review

Zhejiang Provincial Construction Investment Group Co., Ltd. (SZSE:002761) has updated the financial data in its application for issuing shares to acquire assets and for related party transactions. The company is acquiring stakes in Zhejiang No. 1 Construction Group, Zhejiang No. 2 Construction Group, and Zhejiang No. 3 Construction Group. This update is necessary because the original financial data, benchmarked at December 31, 2024, has exceeded its validity period. The company will undertake additional auditing and submit updated materials to ensure compliance.

In a related development, the company's convertible bonds, "Zhejiang Construction Convertible Bonds" (SZSE:127102), are projected to trigger a downward adjustment of their conversion price. As of September 30, 2025, the company's stock has traded below 85% of the current conversion price of CNY 10.91 per share for ten consecutive trading days, specifically at CNY 9.27 per share. If the conditions are met, the board will convene to decide on the conversion price adjustment.

The asset acquisition transaction requires approval from the Shenzhen Stock Exchange and registration with the China Securities Regulatory Commission. The company has stated that the financial data update is not expected to significantly impact the transaction and will continue to provide timely disclosures.