Yinbang convertible bonds may see conversion price adjusted downward

Yinbang Clad Material Co. (stock code: 300337) has announced that its convertible bond, "Yinbang Convertible Bonds" (bond code: 123252), with a current conversion price of RMB 12.51 per share, is likely to see its conversion price adjusted downward. From October 29 to November 12, 2025, the company's stock closing price on ten trading days within any consecutive thirty trading days has fallen below 85% of the current conversion price, specifically RMB 10.63 per share. This situation is anticipated to trigger the conditions for a downward revision.

The company is expected to convene a board meeting to deliberate on whether to adjust the conversion price. If a decision is made to revise, an announcement detailing the adjustment, equity registration date, and suspension period for conversion will be published. According to the prospectus, the revised conversion price will not be lower than the average stock price over the twenty trading days prior to the shareholder meeting, the stock price on the day prior to the meeting, the latest audited net asset value per share, or the par value of the stock.

The "Yinbang Convertible Bonds" were issued for a total of 7,850,000 units, each with a face value of RMB 100, raising gross proceeds of RMB 785,000,000. The net proceeds, after deducting issuance expenses of RMB 9,782,600, amounted to RMB 775,217,400. The conversion period for these bonds is from July 14, 2025, to January 6, 2031.