Wens convertible bonds resume share conversion after put option

Wens Foodstuff Group announced that its "Wenshi Convertible Bonds" (123107) will resume share conversion on November 24, 2025. This follows a temporary suspension of share conversion from November 17 to November 21, 2025, due to an investor put option. The put option was triggered after the company's bondholders' meeting and an extraordinary general meeting approved the termination and adjustment of certain fundraising projects. This decision activated a "conditional put option" clause, granting bondholders a one-time right to sell their bonds back to the company.

The put option allowed bondholders to sell their "Wenshi Convertible Bonds" at a price of 101.149 yuan per bond (including interest and tax) during the declaration period. For individual investors and securities investment funds, the actual proceeds after a 20% tax deduction would be 100.919 yuan per bond. Qualified foreign institutional investors (QFII and RQFII) and other bondholders would receive 101.149 yuan per bond as their interest income is tax-exempt or not withheld by the company. The company’s funds for the put option will be due on November 26, 2025, with investor proceeds expected by November 28, 2025.

Investors had the option to participate in the put; it was not mandatory. The company cautioned investors that if the closing price of "Wenshi Convertible Bonds" was higher than the put price, choosing to exercise the put could result in a loss. During the put declaration period, the convertible bonds continued to trade normally, but share conversion was temporarily suspended.