Announcement on the Anticipated Trigger of Downward Adjustment of Conversion Price for Zhongte Convertible Bonds
The company and all members of the board of directors guarantee that the content of this information disclosure is true, accurate, and complete, with no false records, misleading statements, or significant omissions.
Special Reminder:
- Stock Code: 000708, Stock Abbreviation: Zhongxin Special Steel
- Bond Code: 127056, Bond Abbreviation: Zhongte Convertible Bonds
- Conversion Price: 22.23 CNY/share
- Conversion Period: September 5, 2022, to February 24, 2028
According to the "Prospectus for the Public Issuance of Convertible Corporate Bonds by Zhongxin Special Steel Group Co., Ltd." (hereinafter referred to as the "Prospectus"), during the validity period of the issued convertible corporate bonds, if the closing price of the company's stock is lower than 80% of the current conversion price for at least 15 trading days within any consecutive 30 trading days, the board of directors has the right to propose a downward adjustment plan for the conversion price and submit it for shareholder approval.
On November 14, 2025, the 22nd meeting of the 10th board of directors approved the decision not to adjust the conversion price of the Zhongte Convertible Bonds. Furthermore, within the next three months (from November 17, 2025, to February 13, 2026), if the conditions for downward adjustment are triggered again, no adjustment proposal will be made. Starting from February 24, 2026, if the conditions for downward adjustment are triggered again, the board will hold another meeting to decide whether to adjust the conversion price.
From February 24, 2026, to March 10, 2026, the company's stock has had 10 trading days with closing prices below 80% of the current conversion price, which may trigger the conditions for downward adjustment. If the adjustment conditions are triggered, the company will fulfill subsequent review procedures and information disclosure obligations in accordance with the Prospectus. Investors are advised to pay attention to investment risks.