① **** Mouse Electric today disclosed an announcement announcing that it will not revise the “**** Bear Bonds” conversion price downward. ② Affected by the overall consumption environment, the fundamentals of **** Mouse Electric have weakened.
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Financial Services Association, September 10 (Reporter Ren Chaoyu) Little Bear Electric (002959.SZ) disclosed an announcement today announcing that it will not revise the “**** Bonds” conversion price downward. In fact, due to poor stock price performance, the company has recently hit downward correction conditions. Furthermore, due to the overall consumption environment, the fundamentals of **** Mouse Electric weakened, and deducted non-net profit in the first half of the year fell by about 40% year-on-year.
Little Bear Electric is a “creative small appliances+internet” company. Small kitchen appliances account for a relatively high revenue share.
According to Aowei Cloud Network (AVC) omni-channel summary data from January to June 2024, the overall retail sales of small kitchen appliances were 26.1 billion yuan, down 5.4% year on year, and retail sales volume was 131.49 million units, up 0.4% year on year. According to the Aowei Cloud Network report, the market volume of small kitchen appliances rose and fell in the first half of 2024, and consumers showed their demand rationally to the fullest.
In such a market environment, the company's performance and stock price both declined. In the first half of 2024, the company's net revenue and profit both declined. Revenue fell 8.97%, after deducting non-net profit, a 40.40% decline. As of today's close, the company's stock price has fallen 29% since this year. Today's closing price was 36.13 yuan/share.
Today's announcement revealed that from August 20, 2024 to September 9, 2024, the closing price of the company's stock for 15 trading days was less than 85% of the current share conversion price (53.22 yuan/share), which has triggered downward revision conditions for the “Little Bear Bonds” conversion price.
**** Electric said in the announcement that based on confidence in the company's long-term steady development and intrinsic value, and based on confidence in the company's long-term steady development and intrinsic value, and after review and approval at the 13th meeting of the 3rd board of directors of the company, the board of directors of the company decided not to revise the “**** Bear Bonds” conversion price downward this time, and within the next six months (that is, September 10, 2024 to March 9, 2025), if the stock price once again triggers downward revisions to the “**** Bear Bonds” share transfer price. Recalculations will begin on March 10, 2025. If a downward revision of the “**** Bear Bonds” conversion price is triggered after the term, the company's board of directors will hold a meeting to decide whether to exercise the right to revise the “**** Bonds” conversion price downward.
The continuing decline in underlying stock prices has also weakened the appeal of convertible debt-for-equity swaps. According to public information, today's closing price of Little Bear Convertible Bonds was 109.220 yuan, a decrease of 19.06% over the past year.