Jiangsu Guotai announces ownership change and bond conversion pause

Jiangsu Guotai International Group announced that its controlling shareholder, Jiangsu Guotai International Trade Co., Ltd., completed the gratuitous transfer of 100% of its equity to Zhangjiagang Industrial Development Group Co., Ltd. This change, effective November 6, 2025, makes Zhangjiagang Industrial Development Group Co., Ltd. the indirect controlling shareholder and Zhangjiagang State-owned Assets Management Center the actual controller. The original equity transfer plan was first announced on September 24, 2025, with the transfer agreement signed on October 29, 2025.

In a related development, the company's "Guotai Convertible Bonds" will temporarily suspend share conversion from November 10, 2025, until the equity registration date for the 2025 interim dividend distribution. This suspension is due to the upcoming 2025 interim equity distribution, which will adjust the conversion price of the bonds based on the principle of a constant total cash dividend.

The conversion will resume on the first trading day following the equity registration date. This measure is in accordance with the Convertible Bond Prospectus and regulatory guidelines.