Baorun convertible bond put option triggered, investors face choice

Shanghai Bairun Investment Holding Group announced the activation of a put option for its "Baorun Convertible Bonds," allowing bondholders to sell their bonds back to the company. This option was triggered because the company's stock price closed below 70% of the current conversion price (32.68 yuan per share) for thirty consecutive trading days between September 29, 2025, and November 17, 2025.

The put option allows bondholders to redeem their convertible bonds at a price of 100.252 yuan per bond (including interest and tax). The declaration period for this put option is scheduled from November 19, 2025, to November 25, 2025. The company's funds for redemption will be available by November 28, 2025, with investor funds expected by December 2, 2025.

Investors should note that the current market price of "Baorun Convertible Bonds" is above the put option price of 100.252 yuan per bond. Therefore, exercising the put option could result in a financial loss compared to selling on the open market. During the declaration period, the bonds will continue to trade but will temporarily suspend conversion into shares.