Ginlong Technologies lowers convertible bond conversion price after stock drop

Ningbo Ginlong Technologies has revised the conversion price of its "Ginlong convert 02" convertible bonds from 89.82 yuan per share to 72.55 yuan per share, effective December 29, 2025. This decision followed the company's stock price triggering a downward adjustment clause, trading below 85% of the original conversion price for 15 out of 30 consecutive trading days.

The revision was approved during the fourth board of directors' thirteenth meeting and the 2025 fourth interim shareholders' meeting on December 26, 2025. Shareholders specifically voted on the proposal, with 77.1583% of participating shareholders agreeing to the adjustment.

The amended conversion price meets the requirement of not being lower than the higher of the average trading price of the company’s stock for the twenty trading days preceding the shareholders’ meeting or the trading day immediately prior to the meeting. The board has also been granted full authority to handle all related matters concerning this adjustment.