Cecep Solar Energy convertible bonds enter share conversion period

Cecep Solar Energy Company Limited announced that its "Taineng Convertible Bonds" have entered their share conversion period, commencing from October 9, 2025, and lasting until March 27, 2031. The current conversion price is RMB5.61 per share. The company initially issued RMB2.95 bn worth of convertible bonds on March 28, 2025, with a face value of RMB100 per bond, following approval from the China Securities Regulatory Commission.

The convertible bonds began trading on the Shenzhen Stock Exchange on April 16, 2025. The initial conversion price was RMB5.67 per share but was adjusted to RMB5.61 per share effective July 11, 2025, due to a cash dividend distribution of RMB0.056 per share from the 2024 profit allocation plan. Shares obtained through conversion will originate from newly issued stock and will carry the same rights as existing shares.

Bondholders can submit conversion applications via the Shenzhen Stock Exchange trading system during normal trading hours, with the smallest conversion unit being one bond for one share. Unconverted bonds may be subject to redemption under specific conditions, including a 112% redemption price (including final interest) upon maturity or if the company's stock price meets certain thresholds.