Jiangsu Eastern Shenghong keeps convertible bond conversion price

Jiangsu Eastern Shenghong Co., Ltd. announced that its board of directors decided not to downwardly revise the conversion price of its "Shenghong Convertible Bonds." This decision was made despite the company's stock price falling below 80% of the current conversion price of 13.21 yuan/share for at least 15 trading days within a 30-day period, thereby triggering the downward revision clause.

The board cited investor interests, current market conditions, and its belief that the stock's intrinsic value is not accurately reflected due to macroeconomic and market factors. The company also confirmed it will not propose a downward revision solution if the clause is triggered again within the next month, from December 20, 2025, to January 19, 2026. The next period for triggering the conversion price adjustment will recommence on January 20, 2026.

The "Shenghong Convertible Bond" was publicly issued on March 22, 2021, with a total face value of 5 billion yuan and a six-year term. The current conversion price is 13.21 yuan/share, and the conversion period runs from September 27, 2021, to March 21, 2027.