Chacha Food announces put option for convertible bonds

Chacha Food Co., Ltd. has issued a first indicative announcement regarding a put option for its "Chacha Convertible Bonds," effective from December 2, 2025. This option allows bondholders to sell back all or part of their untransferred bonds at a price of 100.236 yuan per bond, inclusive of interest and tax. The put option will be available for declaration from December 2, 2025, to December 8, 2025.

The put option is triggered because the company's stock price has fallen below 70% of the current conversion price (55.93 yuan per share) for thirty consecutive trading days between October 20, 2025, and November 28, 2025, during the last two interest-accrual years of the convertible bonds. While the declaration period is open, "Chacha Convertible Bonds" will temporarily suspend conversion to shares.

Funds for the repurchased bonds are scheduled to reach the issuer's account by December 11, 2025, with investor payments processed by December 15, 2025. Investors are cautioned that the current market price of "Chacha Convertible Bonds" is higher than the put option price, and exercising the option may result in a loss.