March 17, 2026 Investment Alert: Baolai Reduces Guidance by 0.17 Yuan

Baolai Convertible Bond is quite strange.
It has been listed for five and a half years without any reduction, very stubborn. It would be fine to pass through peacefully without a reduction.
Less than half a year until maturity, they proposed to lower the conversion price, thinking it would at least approach the bottom to promote conversion, but it was only lowered by 0.17 yuan.
The conversion price was lowered from 23.97 yuan to 23.80 yuan.
The reduction is as high as 0.71%.
The conversion value increased significantly from 63.33 to 63.78, a 0.71% rise.
From the perspective of promoting conversion, it only increased the conversion value by 0.71%. Whether it is reduced or not makes no difference. The current premium rate of the convertible bond is still over 100%, which indicates it is not aimed at promoting conversion.
Some say it is similar to Lanfan, but Lanfan has redemption pressure, whereas Baolai Convertible Bond’s price has been above 125 without any redemption pressure.

This time, the reduction seems illogical. Could it be that some holders want to sell?
I looked at the holder information, which was from a few months ago, so I can’t tell much.

Baolai Convertible Bond: Reduction not bottomed out
http://static.cninfo.com.cn/finalpage/2026-03-16/1225011907.PDF

Ruike Convertible Bond: Proposal to reduce
http://static.cninfo.com.cn/finalpage/2026-03-17/1225011362.PDF

Lanfan Convertible Bond: Reduction close to bottom
https://static.cninfo.com.cn/finalpage/2026-03-17/1225012438.PDF

Jiemai Technology: Termination of 3,000-ton battery-grade lithium carbonate lithium extraction plant sales contract
http://static.cninfo.com.cn/finalpage/2026-03-16/1225011262.PDF
The company’s “Sales Contract for 3,000-ton Battery-Grade Lithium Carbonate Lithium Extraction Plant” with HANACOLLA S.A. was terminated due to changes in overall project planning. The company and HANACOLLA signed a “Termination Agreement,” and from the date of signing, the sales contract is terminated. HANACOLLA will pay the company $1.5 million within three working days after signing the agreement and waive the right to request the company to refund the prepayment of $2.5 million.

Jiemei Technology: Planning to acquire 100% equity of EFOCUS Technology, resuming trading on March 17
http://static.cninfo.com.cn/finalpage/2026-03-17/1225012484.PDF

Huicheng Convertible Bond, Yuanxin Convertible Bond: Mandatory redemption
http://static.cninfo.com.cn/finalpage/2026-03-17/1225012436.PDF
http://static.cninfo.com.cn/finalpage/2026-03-17/1225011306.PDF

Dazhong Convertible Bond, Wankai Convertible Bond, Jingzhuang Convertible Bond: No mandatory redemption
http://static.cninfo.com.cn/finalpage/2026-03-17/1225011647.PDF
http://static.cninfo.com.cn/finalpage/2026-03-17/1225012340.PDF
http://static.cninfo.com.cn/finalpage/2026-03-17/1225012687.PDF

Jiete Convertible Bond, Tong 22 Convertible Bond, Guowei Convertible Bond: No reduction
http://static.cninfo.com.cn/finalpage/2026-03-17/1225010694.PDF
http://static.cninfo.com.cn/finalpage/2026-03-17/1225011602.PDF
http://static.cninfo.com.cn/finalpage/2026-03-17/1225012263.PDF