Securities Code: 300655
Securities Abbreviation: Jingrui Electric Material
Announcement No.: 2026-052
Bond Code: 123124
Bond Abbreviation: Jingrui Convertible Bond 2
Jingrui Electronic Material Co., Ltd.
Announcement on the Board of Directors' Proposal to Lower the Conversion Price of "Jingrui Convertible Bond 2"
The Company and all members of the Board of Directors guarantee that the information disclosed is true, accurate, and complete, and that there are no false records, misleading statements, or material omissions.
Special Notice:
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From July 17, 2026, to August 6, 2026, the closing price of Jingrui Electronic Material Co., Ltd. (formerly Suzhou Jingrui Chemical Co., Ltd., hereinafter referred to as the "Company") stock has been below 85% of the current conversion price (RMB 15.88/share) for fifteen trading days, triggering the downward adjustment clause of the conversion price stipulated in the "Prospectus for the Issuance of Convertible Corporate Bonds to Unspecified Objects by Jingrui Electronic Material Co., Ltd." (hereinafter referred to as the "Prospectus").
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On August 6, 2026, the Company held the 17th meeting of the Fourth Board of Directors, which deliberated and passed the "Proposal on the Board of Directors' Proposal to Lower the Conversion Price of 'Jingrui Convertible Bond 2'". This proposal needs to be submitted to the 2026 Fourth Extraordinary General Meeting of Shareholders for deliberation and must be approved by more than two-thirds of the voting rights of the shareholders (including their authorized representatives) attending the general meeting. When the general meeting votes, shareholders holding "Jingrui Convertible Bond 2" shall abstain from voting on this proposal.
I. Basic情况 of Convertible Corporate Bond Issuance and Listing
With the approval of the China Securities Regulatory Commission's "Approval on the Registration of Suzhou Jingrui Chemical Co., Ltd. for Issuing Convertible Corporate Bonds to Unspecified Objects" (Zhengjian Permit [2021] No. 2507), the Company issued 5.23 million convertible corporate bonds to unspecified objects on August 16, 2021. Each bond has a face value of RMB 100, with a total issuance of RMB 523 million and a term of 6 years. The Company's RMB 523 million convertible corporate bonds were listed and traded on the Shenzhen Stock Exchange (hereinafter referred to as the "SZSE") from September 7, 2021. The bond abbreviation is "Jingrui Convertible Bond 2", and the bond code is "123124". The total amount of funds raised by the Company from this issuance of convertible corporate bonds is RMB 523,000,000. After deducting the tax-exclusive amount of issuance expenses, the net proceeds from the issuance of convertible corporate bonds are RMB 514,703,811.51. The above-mentioned fundraising situation has been audited and verified by Dahua Certified Public Accountants (Special General Partnership), which issued the "Capital Verification Report" (Dahua Verification [2021] No. 000579).
II. History of Conversion Price Adjustments for Convertible Corporate Bonds
In accordance with relevant regulations and the "Prospectus for the Issuance of Convertible Corporate Bonds to Unspecified Objects by Jingrui Electronic Material Co., Ltd." (hereinafter referred to as the "Prospectus"), the convertible corporate bonds issued by the Company can be converted into company shares from February 21, 2022. The initial conversion price of "Jingrui Convertible Bond 2" was RMB 50.31 per share.
On October 11, 2021, the Company completed the repurchase and cancellation of some restricted shares. In accordance with the relevant regulations for convertible bonds, the conversion price of "Jingrui Convertible Bond 2" needs to be adjusted accordingly. Due to the small proportion of repurchased and cancelled shares to the total share capital, the calculated adjusted conversion price remains RMB 50.31 per share, and the conversion price of "Jingrui Convertible Bond 2" remains unchanged.