Xinjiang Tianrun Dairy updates convertible bonds, proposes governance overhaul

Xinjiang Tianrun Dairy's "Tianrun Convertible Bonds" saw cumulative conversions of 998,000 yuan, resulting in 120,496 new shares, representing 0.0376% of the company's total shares before conversion, as of September 30, 2025. Unconverted bonds totaled 989,002,000 yuan, or 99.8992% of the total issuance. The company's total share capital has been adjusted to 315,510,787 shares following these changes and a share cancellation of 4,799,955 shares.

The company's board of directors and supervisors approved the use of up to 320 million yuan in temporarily idle raised funds for cash management, with a term of 12 months. This decision aims to enhance capital utilization without impacting ongoing projects. Additionally, the company will host an extraordinary general meeting on October 28, 2025, to deliberate on the proposed abolition of the board of supervisors and corresponding amendments to the company's articles of association and other governance policies.

The proposed governance changes include significant revisions to the company's articles of association and various internal management rules, aiming to streamline operations and comply with regulatory updates. These amendments encompass changes to shareholder meeting rules, board of directors' procedures, independent director framework, and internal control systems.