Shanxi Meijin Energy triggers convertible bond put option after project change

Shanxi Meijin Energy Co., Ltd. held its fourth extraordinary general meeting of shareholders and first bondholder meeting for "Meijin Convertible Bond" on November 25, 2025. Both meetings approved the termination of a hydrogen fuel cell vehicle project and the permanent replenishment of working capital with remaining raised funds. This change in the use of raised capital, totaling 17,917,830.00 yuan, triggered a put option for the "Meijin Convertible Bond."

Bondholders can declare their put option from December 1 to December 5, 2025, at a price of 100.986 yuan per bond (including interest and tax). During this period, trading of "Meijin Convertible Bond" will continue, but conversion to shares will be suspended. The company’s legal counsel and independent financial advisors confirmed that all procedures for these actions comply with relevant regulations.

The company will repurchase the declared bonds, with funds deposited on December 10, 2025, and transferred to investors by December 12, 2025. Investors are cautioned that the current market price of the bond may exceed the put price, potentially resulting in losses if they choose to exercise the put option.