New Hope Liuhe: Q3 convertible bond activity and share capital changes

New Hope Liuhe Co., Ltd. reported that in the third quarter of 2025, its "Hope Convertible Bond" saw a reduction of RMB 54,000 (540 bonds) due to conversions, while "Hope Convertible Bond 2" decreased by RMB 11,000 (110 bonds) for the same reason. These conversions collectively resulted in an increase of 6,131 shares. As of September 30, 2025, the remaining principal of "Hope Convertible Bond" was RMB 949,335,700, and "Hope Convertible Bond 2" was RMB 8,143,474,900.

The company's total share capital decreased by 23,366,069 shares to 4,502,576,702 shares. This was primarily due to the cancellation of 23,372,200 restricted shares from the 2022 restricted stock incentive plan in July 2025. Additionally, 290,580 previously restricted shares held by former directors and senior management became unrestricted, increasing the unlimited circulating shares.

In a related development, director and senior management member Mr. Tao Yuling did not execute his share reduction plan, which ended on September 30, 2025. Other senior executives, Mr. Li Shuang and Mr. Pang Yundong, completed their respective share reduction plans earlier in the quarter. Mr. Tao Yuling's unexecuted plan had no impact on the company's control or governance structure.