JS Machine's controlling shareholder lowers exchangeable bond conversion price

Hubei Jing Shan Light Machine Co., Ltd. (JS Machine) announced that its controlling shareholder, Hubei Jingshan Jingyuan Technology Investment Co., Ltd. (Jingyuan Technology), has adjusted the share exchange price for its 2023 non-public offering of exchangeable corporate bonds. The bonds, totaling 200 million yuan and having a three-year term, were initially convertible at 17.00 yuan per share.

Following a cash dividend distribution of 0.87 yuan per 10 shares in June 2024, the exchange price was first adjusted to 16.91 yuan per share. A subsequent dividend of 0.70 yuan per 10 shares in July 2025 further revised the price to 16.84 yuan per share.

Most recently, the "23 Jingyuan EB" bonds triggered a downward adjustment clause. This occurred because JS Machine's A-share closing price fell below 85% of the current exchange price for at least ten trading days within any consecutive twenty-trading-day period. Consequently, Jingyuan Technology's board decided to adjust the exchange price from 16.84 yuan per share to 14.50 yuan per share, effective November 7, 2025. Investors are cautioned to be aware of the investment risks associated with bondholders potentially choosing to convert and the actual number of shares converted.