New Hope Liuhe forms rural development joint venture, manages convertible bonds

New Hope Liuhe announced its collaboration with a central state-owned enterprise fund and an underdeveloped region fund to establish Xinliu Chuangyi Rural Development Co. The joint venture, with a registered capital of yuan 2.87 bn, will see New Hope Liuhe contribute yuan 2.1 bn (73.17%), the central state-owned enterprise fund yuan 700m (24.39%), and the underdeveloped region fund yuan 70m (2.44%). The initiative aims to support rural revitalization by acquiring existing subsidiaries and establishing 16 new pig farming subsidiaries in key assistance areas, focusing on a "company + farmer" model without increasing overall pig production capacity. This transaction is moving to the signing phase after receiving necessary approvals.

In other financial news, New Hope Liuhe's controlling shareholder, New Hope Group, completed a partial buyback of its "23 Hope E1" exchangeable corporate bonds. The buyback period from November 12 to November 14, 2025, resulted in the redemption of 2,180,000.00 bonds. After this transaction, yuan 4.52 bn of the "23 Hope E1" bonds remain outstanding.

Additionally, New Hope Liuhe issued corrected notices regarding the maturity and delisting of its "Hope Convertible Bonds." The bonds will mature on January 2, 2026, with a redemption registration date of December 31, 2025. Holders will receive yuan 106 per bond (including tax and final interest) on the payment date of January 5, 2026, when the bonds will also be delisted from the Shenzhen Stock Exchange. The last trading day for these convertible bonds is December 26, 2025, and the last conversion day is December 31, 2025.