Securities Code: 002930 Bond Code: 128121 Announcement Number: 2026-074
Guangdong Hongchuan Smart Logistics Co., Ltd. Announcement on Not Lowering the Conversion Price of "Hongchuan Convertibles"
The Company and all members of the Board of Directors guarantee that the content of the information disclosure is true, accurate, and complete, and that there are no false records, misleading statements, or significant omissions.
Special Notice: Stock Code: 002930 Bond Code: 128121 Conversion Price: RMB 12.65 per share Stock Abbreviation: Hongchuan Smart Logistics Bond Abbreviation: Hongchuan Convertibles Conversion Period: January 25, 2021 to July 16, 2026
As of June 22, 2026, the Company's stock price has been below 90% of the current conversion price for 15 out of 30 consecutive trading days, triggering the condition for a downward adjustment of the "Hongchuan Convertibles" conversion price. After deliberation at the thirty-sixth meeting of the fourth Board of Directors, the Board of Directors has decided not to lower the conversion price of "Hongchuan Convertibles" at this time. Furthermore, from the date of this Board meeting until the maturity date of "Hongchuan Convertibles" (i.e., from June 22, 2026 to July 16, 2026), if the condition for a downward adjustment of the "Hongchuan Convertibles" conversion price is triggered again, no downward adjustment proposal will be submitted. Investors are kindly advised to pay attention to investment risks.
I. Overview of the Issuance and Listing of Convertible Corporate Bonds
- Issuance of Convertible Corporate Bonds
With the approval of the China Securities Regulatory Commission's "Approval on Guangdong Hongchuan Smart Logistics Co., Ltd.'s Public Offering of Convertible Corporate Bonds" (Securities Regulatory Permit [2020] No. 317), the Company publicly issued 6.70 million convertible corporate bonds on July 17, 2020, with a face value of RMB 100 per bond, for a total issuance amount of RMB 670 million. The convertible corporate bonds issued were preferentially allocated to existing shareholders. The remaining portion (including the portion not taken up by existing shareholders) was offered to public investors through the Shenzhen Stock Exchange's trading system. Any portion not subscribed to reach RMB 670 million was underwritten by the sponsor (lead underwriter).
With the approval of the Shenzhen Stock Exchange's "Notice on the Listing and Trading of Guangdong Hongchuan Smart Logistics Co., Ltd.'s Convertible Corporate Bonds" (Shenzhen Stock Exchange Letter [2020] No. 685), the Company's RMB 670 million convertible corporate bonds were listed and traded on the Shenzhen Stock Exchange starting from August 7, 2020, with the securities abbreviation "Hongchuan Convertibles" and the securities code "128121".
- Adjustment of the Conversion Price of Convertible Corporate Bonds
The initial conversion price of the convertible corporate bonds issued was RMB 20.25 per share.
(1) In accordance with the Company's 2019 Stock Option and Restricted Stock Incentive Plan, the first tranche of 281,736 stock options were listed and circulated on September 17, 2020. The Company's total share capital increased by 281,736 shares. For details, please refer to the "Announcement on the Results of the First Exercise Period of Stock Options under the 2019 Stock Option and Restricted Stock Incentive Plan and the Listing of Shares" (Announcement No.: 2020-123) disclosed by the Company on September 16, 2020.
According to the relevant regulations for the adjustment of the conversion price of convertible corporate bonds, the conversion price of the Company's convertible corporate bonds needs to be adjusted after the centralized exercise of stock options. The adjusted conversion price remained unchanged at RMB 20.25 per share. For details, please refer to the "Announcement on the Adjustment of the Conversion Price of 'Hongchuan Convertibles'" (Announcement No.: 2020-124) disclosed by the Company on September 16, 2020.