Xianhe convertible bonds: significant conversion activity impacts share capital

As of September 30, 2025, a total of CNY 33,302,000 of Huanhe 21 Convertible Bonds have been converted into 1,751,770 company shares, representing 0.2481% of Xianhe's total issued shares prior to the conversion. During the quarter from July 1 to September 30, 2025, CNY 33,194,000 of the convertible bonds were converted into 1,747,922 shares, accounting for 0.2476% of the pre-conversion share capital.

Despite this conversion activity, a significant portion of the convertible bonds remains untransformed. As of the same date, CNY 2,016,697,000 of Huanhe 21 Convertible Bonds are yet to be converted, making up 98.3755% of the total issued amount.

The company's total share capital increased from 705,976,114 shares on June 30, 2025, to 707,724,036 shares by September 30, 2025, due to the conversion of these convertible bonds. The conversion price for Huanhe 21 Convertible Bonds was adjusted multiple times, currently standing at CNY 18.99 per share following various equity distributions and downward revisions.