Stock Code: 000301 stock abbreviation: Jiangsu Eastern Shenghong Co.Ltd(000301) Announcement No.: 2022-020 bond Code: 127030 bond abbreviation: Shenghong convertible bond
Bond Code: 114578 bond abbreviation: 19 Shenghong G1
Jiangsu Eastern Shenghong Co.Ltd(000301)
Announcement on the price adjustment of convertible corporate bonds
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
Special tips:
1. Conversion price before adjustment: 14.10 yuan / share
2. Adjusted conversion price: 13.53 yuan / share
3. Effective date of this share conversion price adjustment: January 27, 2022
1、 Basic information of convertible bonds
Approved by the reply on approving Jiangsu Eastern Shenghong Co.Ltd(000301) public issuance of convertible corporate bonds (zjxk [2021] No. 512) of the China Securities Regulatory Commission (hereinafter referred to as the “CSRC”), the Jiangsu Eastern Shenghong Co.Ltd(000301) (hereinafter referred to as the “company”) publicly issued 50 million convertible corporate bonds (hereinafter referred to as “convertible bonds”) on March 22, 2021, with a face value of 100 yuan each, The total issuance amount is 500 million yuan and the term is 6 years. With the consent of Shenzhen Stock Exchange, this convertible bond has been listed and traded in Shenzhen Stock Exchange since April 21, 2021. The bond is referred to as “Shenghong convertible bond” for short and the bond code is “127030”.
2、 Basis for price adjustment of convertible bonds to shares
According to the prospectus for the public offering of A-share convertible corporate bonds (hereinafter referred to as the “prospectus”) and other relevant provisions, when the company distributes stock dividends, converts into capital stock, issues additional new shares (excluding the capital stock increased due to the conversion of convertible bonds into shares), allots shares and distributes cash dividends, The conversion price shall be adjusted accordingly (two decimal places shall be retained and the last one shall be rounded). The specific adjustment formula of share conversion price is as follows:
Share offering or conversion to share capital: P1 = P0 ÷ (1 + n);
Additional shares or allotment: P1 = (P0 + a) × k）÷（1+k）；
The above two items shall be carried out simultaneously: P1 = (P0 + a) × k）÷（1+n+k）；
Cash dividend distribution: P1 = P0 － D;
The above three items shall be carried out simultaneously: P1 = (p0-d + a) × k）÷（1+n+k）。
Where: P1 is the conversion price after adjustment, P0 is the conversion price before adjustment, n is the share distribution rate or conversion to increased share capital, a is the new share price or allotment price, K is the rate of new shares or allotment, and D is the cash dividend per share.
When the company changes the above shares and / or shareholders’ equity, it will adjust the conversion price in turn, publish an announcement on the website of Shenzhen Stock Exchange and the information disclosure media of listed companies designated by CSRC, and specify the date of conversion price adjustment, adjustment measures and suspension period (if necessary). When the adjustment date of the conversion price is on or after the application date for conversion of convertible bonds issued this time and before the registration date of conversion of shares, the application for conversion of shares of the holder shall be executed according to the adjusted conversion price of the company.
When the company may have share repurchase, merger, division or any other circumstances, which may change the class, quantity and / or shareholders’ equity of the company’s shares, which may affect the creditor’s rights and interests of the holders of convertible bonds issued this time or the derivative rights and interests of convertible bonds, the company will be fair, just and The conversion price shall be adjusted according to the principle of fairness and the principle of fully protecting the rights and interests of the holders of convertible bonds issued this time. The adjustment contents and operation methods of the conversion price will be formulated in accordance with the relevant national laws and regulations and the relevant provisions of the securities regulatory authorities at that time.
3、 Previous price adjustment of convertible bonds to shares
Due to the company’s implementation of equity distribution in 2020, the share conversion price of “Shenghong convertible bonds” is adjusted from 14.20 yuan / share to 14.10 yuan / share. The adjusted share conversion price will take effect from June 18, 2021 (ex right and ex interest date). For details, please refer to securities times, China Securities Journal, Shanghai Securities News, securities daily and cninfo.com on June 10, 2021（ http://www.cn.info.com.cn. ）Announcement on the price adjustment of convertible corporate bonds (Announcement No.: 2021-075).
4、 Price adjustment of convertible bonds to shares this time
(I) share issuance
Approved by the reply on approving Jiangsu Eastern Shenghong Co.Ltd(000301) issuing shares to Shenghong Petrochemical Group Co., Ltd. to purchase assets and raise supporting funds (zjxk [2021] No. 4179) of China Securities Regulatory Commission, the company issued 1111528326 RMB ordinary shares to Shenghong Petrochemical Group Co., Ltd. and Jiangsu Lianyungang Port Co.Ltd(601008) Bohong Industrial Co., Ltd, The issue price per share is RMB 11.04. The company has received the confirmation of acceptance of share registration application issued by China Securities Depository and Clearing Corporation Limited Shenzhen Branch on January 14, 2022, and the relevant shares have gone through the registration procedures for newly issued shares in China Securities Depository and Clearing Corporation Limited Shenzhen Branch. The new shares will be listed on Shenzhen Stock Exchange on January 27, 2022. According to the share capital as of January 18, 2022, based on the total share capital of the company before the issuance of 4834962793 shares, the total share capital of the company after the issuance is increased to 5946491119 shares. (II) adjustment of share conversion price
According to the relevant provisions of the prospectus, the price adjustment formula for this share conversion is P1 = (P0 + a) × k）/（1+k）。 According to the share capital as of January 18, 2022, based on the total share capital of the company before the issuance of 4834962793 shares, the calculation is as follows:
P0 is the conversion price of 14.10 yuan / share before adjustment, a is the new share price of 11.04 yuan / share, and K is the new share issuance rate of 0.229894 (i.e. 1111528326 shares / 4834962793 shares).
P1=（14.10+11.04 × 0.229894) / (1 + 0.229894) = 13.53 yuan / share.
The share conversion price adjustment of “Shenghong convertible bonds” does not involve the suspension of share conversion, and the adjusted share conversion price will take effect from January 27, 2022 (the listing date of this new shares).
It is hereby announced.
Jiangsu Eastern Shenghong Co.Ltd(000301) board of directors
January 21, 2022
