According to CoinMeta, Fengshan Group announced that from October 22, 2026, to November 11, 2026, the closing price of the company's stock was below 85% of the conversion price for at least fifteen out of any consecutive thirty trading days (i.e., 11.52 RMB per share), which triggered the downward adjustment clause for the conversion price of "Fengshan Convertible Bonds." The twentieth meeting of the company's fourth board of directors reviewed and approved the proposal to lower the conversion price of "Fengshan Convertible Bonds." This matter still needs to be submitted to the company's shareholders' meeting for review and must be passed by more than two-thirds of the voting rights held by the shareholders present at the meeting in order to be implemented.