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/Qizheng Tibetan Medicine: Important reminder announcement on the implementation of early redemption of "Qizheng Convertible Bonds" and the imminent cessation of stock conversion
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Qizheng Tibetan Medicine: Important reminder announcement on the implementation of early redemption of "Qizheng Convertible Bonds" and the imminent cessation of stock conversion

Shenzhen Stock Exchange
2025/09/01

Securities code: 002287 Securities abbreviation: Qizheng Tibetan Medicine Announcement number: 2025-083 Bond code: 128133 Bond abbreviation: Qizheng Convertible Bonds

Tibet Qizheng Tibetan Medicine Co., Ltd.

Important announcement regarding the implementation of early redemption of "Qizheng Convertible Bonds" and the imminent cessation of share conversions

The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete, and contains no false records, misleading statements or major omissions.

Important content reminder:

  1. Last transfer date: September 2, 2025

Since "Qizheng Convertible Bonds" have stopped trading, the company reminds investors to convert shares within the time limit. September 2, 2025 is the last conversion day of "Qizheng Convertible Bonds". Before the market closes on that day, investors holding "Qizheng Convertible Bonds" can still convert shares; after the market closes on September 2, 2025, "Qizheng Convertible Bonds" that have not been converted into shares will stop converting.

  1. As of the market close on August 29, 2025, there are only 2 trading days left before the "Qizheng Convertible Bonds" stop converting shares and redeeming them. If investors fail to transfer shares in time, they may face losses. Investors are kindly requested to read this announcement carefully and pay attention to the relevant risks.

Special tips:

  1. Redemption price of "Qizheng Convertible Bonds": 101.701 yuan/piece (including current accrued interest, current annual interest rate is 1.80%, and current interest includes tax). The redemption price after tax is subject to the price approved by China Securities Depository and Clearing Co., Ltd. Shenzhen Branch (hereinafter referred to as "Zhongdeng Company").

  2. Date when redemption conditions are met: August 11, 2025

  3. "Qizheng Convertible Bonds" trading stop date: August 29, 2025

  4. “Qizheng Convertible Bonds” redemption registration date: September 2, 2025

  5. "Qizheng Convertible Bonds" cease conversion date: September 3, 2025

  6. “Qizheng Convertible Bonds” redemption date: September 3, 2025

  7. Issuer (company) fund arrival date (arrived in Zhongdeng company account): September 8, 2025

  8. The date when investors’ redemption funds arrive: September 10, 2025

  9. Redemption Category: All Redemptions

  10. Abbreviation of convertible bonds on the last trading day: Z Positive Convertible Bonds

  11. According to the arrangement, "Qizheng Convertible Bonds" that have not been converted into shares as of the market close on September 2, 2025 will be forcibly redeemed. After this redemption is completed, "Qizheng Convertible Bonds" will be delisted from the Shenzhen Stock Exchange. Bondholders of "Qizheng Convertible Bonds" are reminded to pay attention to converting shares within the time limit. If the "Qizheng Convertible Bonds" held by bondholders are pledged or frozen, it is recommended to unpledge or freeze them before the date when the conversion is stopped, so as to avoid being redeemed due to the inability to convert into shares.

  12. Risk warning: The redemption price of this "Qizheng Convertible Bond" may be significantly different from the market price before the suspension of trading and conversion. Holders are reminded to pay attention to converting shares within the time limit. If investors fail to transfer shares in time, they may face losses. Investors are advised to pay attention to investment risks.

Tibet Qizheng Tibetan Medicine Co., Ltd. (hereinafter referred to as the "Company") held the 12th meeting of the sixth board of directors on August 11, 2025, and reviewed and approved the "Proposal on Early Redemption of "Qizheng Convertible Bonds". Based on the current market and the company's own situation, after comprehensive consideration, the board of directors decided to exercise the right to redeem the "Qizheng Convertible Bonds" in advance this time, and authorized the company's management and relevant departments to be responsible for all matters related to the subsequent redemption of the "Qizheng Convertible Bonds". The relevant matters are now announced as follows:

1. Basic information on convertible corporate bonds

  1. Issuance of convertible bonds

As approved by the China Securities Regulatory Commission's "Reply on the Approval of the Public Issuance of Convertible Corporate Bonds by Tibet Qizheng Tibetan Medicine Co., Ltd." (CSRC License [2020] No. 1766), the company publicly issued convertible corporate bonds with a face value of RMB 100 each, a total of 8 million, issued at face value, with a total issuance of 800 million yuan.

  1. Listing status of convertible corporate bonds

With the consent of the Shenzhen Stock Exchange (hereinafter referred to as the "Shenzhen Stock Exchange") "Shenzhen Stock Exchange [2020] No. 952", the company's 800 million yuan convertible corporate bonds will be listed on the Shenzhen Stock Exchange for trading on October 27, 2020. The bond abbreviation is "Qizheng Convertible Bonds" and the bond code is "128133".

  1. Conversion period of convertible corporate bonds

According to the "Prospectus", the conversion period of the convertible bonds issued this time starts from the first trading day (March 29, 2021) six months after the completion of the issuance of the convertible bonds (September 28, 2020, that is, the date when the raised funds are transferred to the issuer's account) to the maturity date of the convertible bonds (September 21, 2026). (Because March 28, 2021 is a legal holiday, it will be postponed to March 29, 2021.)

  1. Adjustments to the conversion price of convertible corporate bonds

(1) In July 2021, the company implemented the 2020 annual equity distribution plan. The conversion price of Qizheng convertible bonds was adjusted from 30.12 yuan/share to 29.78 yuan/share starting from July 8, 2021. For details, please refer to the " "Announcement on Adjusting the Conversion Price of Convertible Corporate Bonds" (Announcement Number: 2021-052) on Securities Times and Juchao Information Network (http://www.cninfo.com.cn).

(2) In December 2021, the company completed the repurchase and cancellation of some restricted stocks. The conversion price of Qizheng convertible bonds was adjusted from 29.78 yuan/share to 29.79 yuan/share starting from December 31, 2021. For details, please see the "Securities Times" , "Announcement on the Completion of the Repurchase and Cancellation of Partial Restricted Stocks and the Adjustment of the Conversion Price of Convertible Corporate Bonds" (Announcement Number: 2021-109) on the Juchao Information Network (http://www.cninfo.com.cn).

(3) In June 2022, according to the special resolution of the company's first extraordinary general meeting of shareholders in 2022, and comprehensively considering the company's future development prospects and stock price trends and other factors, the board of directors decided to increase the conversion price of "Qizheng Convertible Bonds" from 29.79 yuan/share to 29.79 yuan/share starting from June 13, 2022. It was revised downward to 24.78 yuan/share. For details, please refer to the "Announcement on the downward revision of the conversion price of convertible corporate bonds" published on the Securities Times and cninfo.com (http://www.cninfo.com.cn) (announcement number: 2022-033).

(4) In July 2022, the company implemented the 2021 annual equity distribution plan. The conversion price of Qizheng convertible bonds will be adjusted from 24.78 yuan/share to 24.19 yuan/share starting from July 19, 2022. For details, please refer to the publication "Announcement on Adjusting the Conversion Price of Convertible Corporate Bonds" (Announcement Number: 2022-042) on "Securities Times" and Juchao Information Network (http://www.cninfo.com.cn).

(5) In October 2022, according to the special resolution of the company’s fourth extraordinary general meeting of shareholders in 2022, and comprehensively considering the company’s future development prospects and stock price trends and other factors, the board of directors decided to increase the conversion price of “Qizheng Convertible Bonds” from 24.19 yuan per share starting from October 31, 2022. It was revised downward to 23.26 yuan/share. For details, please refer to the "Announcement on the downward revision of the conversion price of convertible corporate bonds" (announcement number: 2022-069) published on the Securities Times and cninfo.com (http://www.cninfo.com.cn).

(6) In July 2023, the company implemented the 2022 annual equity distribution plan. The conversion price of Qizheng convertible bonds will be adjusted from 23.26 yuan/share to 22.87 yuan/share starting from July 20, 2023. For details, please see the publication in "Announcement on Adjusting the Conversion Price of Convertible Corporate Bonds" (Announcement Number: 2023-030) on "Securities Times" and Juchao Information Network (http://www.cninfo.com.cn).

(7) In February 2024, according to the special resolution of the company’s second extraordinary shareholders’ meeting in 2024, and comprehensively considering the company’s future development prospects and stock price trends and other factors, the board of directors decided to increase the conversion price of “Qizheng Convertible Bonds” from 22.87 yuan/share to 22.87 yuan/share starting from February 20, 2024. The price was revised downward to 20.09 yuan/share. For details, please refer to the "Announcement on the downward revision of the conversion price of convertible corporate bonds" (announcement number: 2024-011) published on the Securities Times and cninfo.com (http://www.cninfo.com.cn).

(8) In July 2024, the company implemented the 2023 annual equity distribution plan. The conversion price of Qizheng convertible bonds will be adjusted from 20.09 yuan/share to 19.61 yuan/share starting from July 4, 2024. For details, please refer to the " "Announcement on Adjusting the Conversion Price of Convertible Corporate Bonds" (Announcement No.: 2024-043) on Securities Times and Juchao Information Network (http://www.cninfo.com.cn).

(9) In January 2025, the company implemented a special dividend equity distribution plan. The conversion price of Qizheng convertible bonds was adjusted from 19.61 yuan/share to 19.39 yuan/share starting from January 24, 2025. For details, please refer to the "Announcement on Adjusting the Conversion Price of Convertible Corporate Bonds" (Announcement No.: 2025-007) published on the Securities Times and cninfo.com (http://www.cninfo.com.cn).

(10) In July 2025, the company implemented the 2024 annual equity distribution plan. The conversion price of Qizheng convertible bonds will be adjusted from 19.39 yuan/share to 19.01 yuan/share starting from July 10, 2025. For details, please see the publication in "Announcement on Adjusting the Conversion Price of Convertible Corporate Bonds" (Announcement Number: 2025-046) on "Securities Times" and cninfo.com (http://www.cninfo.com.cn).

2. Conditional redemption terms of convertible corporate bonds

  1. Trigger redemption situation

From July 21, 2025 to August 11, 2025, the closing price of the company's stock price for fifteen trading days has been no less than 130% of the current conversion price of the company's publicly issued convertible corporate bonds (19.01 yuan/share), or 24.713 yuan/share. According to the "Shenzhen Stock Exchange Self-Regulatory Guidelines for Listed Companies No. 15 - Convertible Corporate Bonds" and the "Prospectus" and other relevant regulations, the conditional redemption clause of "Qizheng Convertible Bonds" has been triggered.

On August 11, 2025, the company held the 12th meeting of the sixth board of directors and reviewed and approved the "Proposal on Early Redemption of "Qizheng Convertible Bonds". Based on the current market and the company's own conditions, and after comprehensive consideration, the board of directors decided to exercise the right of early redemption of the "Qizheng Convertible Bonds" this time, and redeem all the "Qizheng Convertible Bonds" that have not been converted into shares after the closing of the redemption registration date at the price of the bond's face value plus the current accrued interest, and authorized the company's management and relevant departments to be responsible for all matters related to the subsequent redemption of the "Qizheng Convertible Bonds".

  1. Conditional redemption terms

According to the company's "Prospectus", the conditional redemption terms of "Qizheng Convertible Bonds" are as follows:

During the conversion period, when either of the following two situations occurs, the company has the right to decide to redeem all or part of the unconverted convertible corporate bonds at the price of the bond's face value plus current accrued interest:

① During the share conversion period, if the closing price of the company’s stock on at least fifteen trading days out of any thirty consecutive trading days is not less than 130% (inclusive) of the current share conversion price;

② When the unconverted balance of the convertible corporate bonds issued this time is less than 30 million yuan.

The calculation formula for current accrued interest is: IA=B×i×t/365

IA: refers to the current accrued interest;

B: refers to the total par amount of convertible corporate bonds held by holders of convertible corporate bonds issued this time; i: refers to the coupon rate of the convertible corporate bonds for the current year;

t: refers to the number of interest accrual days, that is, the actual number of calendar days from the last interest payment date to the redemption date of this interest accrual year (the beginning is not counted).

If the conversion price is adjusted within the aforementioned thirty trading days, the conversion price and closing price before the adjustment will be calculated on the trading day before the adjustment, and the conversion price and closing price after the adjustment will be used on the trading day after the adjustment.

3. Redemption Implementation Arrangements

(1) Redemption price and basis for its determination

According to the conditional redemption terms in the Prospectus, the redemption price of "Qizheng Convertible Bonds" is 101.701 yuan per piece (including interest and tax). The calculation process is as follows:

The calculation formula for current accrued interest is: IA=B×i×t/365

IA: refers to the current accrued interest;

B: refers to the total par amount of convertible corporate bonds held by holders of convertible corporate bonds issued this time; i: refers to the coupon rate of the convertible corporate bonds for the current year;

t: refers to the number of interest accrual days, that is, the actual number of calendar days from the last interest payment date (September 23, 2024) to the redemption date of this interest accrual year (September 3, 2025) (the beginning is not counted).

The current accrued interest of each bond IA=B×i×t/365=100×1.80%×345/365≈1.701 yuan/piece

The redemption price of each bond = face value of the bond + accrued interest for the current period = 100 + 1.701 = 101.701 yuan/piece. The redemption price after tax deduction shall be subject to the price approved by Zhongdeng Company. The company does not withhold or remit interest income tax from holders.

(2) Redemption objects

All holders of "Qizheng Convertible Bonds" registered with Zhongdeng Company after the market closes as of the redemption registration date (September 2, 2025).

(3) Redemption procedures and time arrangements

  1. The company will disclose a redemption reminder announcement on each trading day before the redemption date to inform holders of "Qizheng Convertible Bonds" of matters related to this redemption.

  2. "Qizheng Convertible Bonds" will cease trading from August 29, 2025.

  3. The redemption registration date of “Qizheng Convertible Bonds” is September 2, 2025.

  4. "Qizheng Convertible Bonds" will stop converting shares starting from September 3, 2025.

  5. The redemption date of "Qizheng Convertible Bonds" is September 3, 2025. The company will fully redeem the "Qizheng Convertible Bonds" registered with Zhongdeng Company after the market closes on the redemption registration date (September 2, 2025). After the redemption is completed, "Qizheng Convertible Bonds" will be delisted from the Shenzhen Stock Exchange.

  6. September 8, 2025 is the date when the issuer (company) funds arrive (reaches Zhongdeng Company’s account), and September 10, 2025 is the day when the redemption money reaches the capital account of the “Qizheng Convertible Bonds” holder. At that time, the redemption money of “Qizheng Convertible Bonds” will be directly transferred to the capital account of the “Qizheng Convertible Bonds” holder through the convertible bond custody broker.

  7. After the redemption is completed, the company will publish the redemption results announcement and the delisting announcement of "Qizheng Convertible Bonds" on the designated information disclosure media in accordance with relevant regulatory rules.

(4) Other matters

Consulting Department: Office of the Board of Directors

Contact number: 010-84766012

  1. The company’s actual controllers, controlling shareholders, shareholders holding more than 5% of the shares, directors, supervisors, and senior managers traded “Qizheng Convertible Bonds” within six months before the redemption conditions were met.

After verification, the company's actual controller, controlling shareholder, shareholders holding more than 5% of the shares, directors, supervisors, and senior managers traded "Qizheng Convertible Bonds" in the six months before the redemption conditions were met (February 12, 2025 - August 11, 2025). The details of the transactions of "Qizheng Convertible Bonds" are as follows:

Unit: Zhang

Total period held at the beginning of the period Total period held Name of bond holder at the end of the period Type of holder

There is a quantity. A quantity is bought. A quantity is sold. There is a quantity.

The company’s controlling shareholders agree

The development of Yutuo culture in Tibet has

Actor; shareholding percentage 132,800 0 132,800 0 Co., Ltd.

More than five-fifths of shareholders

Except for the above circumstances, the company's actual controller, controlling shareholder, shareholders holding more than 5% of the shares, directors, supervisors, and senior managers did not have any other transactions in "Qizheng Convertible Bonds" in the six months before the redemption conditions were met.

5. Other matters that need explanation

  1. If the holder of "Qizheng Convertible Bonds" handles stock conversion matters, he must apply for stock conversion through the securities company that holds the bond. For specific stock conversion operations, it is recommended that bondholders consult the securities company where the account is opened before applying.

  2. The minimum unit of application for conversion of convertible bonds into shares is 1 piece, each with a face value of 100.00 yuan, and the minimum unit for conversion into shares is 1 share; if multiple applications for conversion of shares are made on the same trading day, the number of shares to be converted will be calculated together. The shares that the convertible bond holder applies for conversion must be an integral multiple of 1 share. If the balance of the convertible bond converted into 1 share is insufficient during the conversion, the company will, in accordance with the relevant regulations of the Shenzhen Stock Exchange and other departments, pay the par balance of the convertible bond and the corresponding interest payable for the current period in cash within five trading days after the date of conversion by the convertible bond holder.

  3. Convertible bonds purchased on the same day can apply for conversion on the same day. The new shares converted from convertible bonds can be listed and circulated on the next trading day after the conversion application, and enjoy the same rights and interests as the original shares.

6. Risk warning

According to the arrangement, "Qizheng Convertible Bonds" that have not been converted into shares as of the market close on September 2, 2025 will be forcibly redeemed. After this redemption is completed, "Qizheng Convertible Bonds" will be delisted from the Shenzhen Stock Exchange. Bondholders of "Qizheng Convertible Bonds" are reminded to pay attention to converting shares within the time limit. If the "Qizheng Convertible Bonds" held by bondholders are pledged or frozen, it is recommended to unpledge or freeze them before the date when the conversion is stopped, so as to avoid being redeemed due to the inability to convert into shares.

The redemption price of the "Qizheng Convertible Bonds" may be significantly different from the market price before the suspension of trading and conversion. Holders are reminded to pay attention to converting shares within the time limit. If investors fail to transfer shares in time, they may face losses. Investors are advised to pay attention to investment risks.

7. Documents for reference

  1. Resolution of the 12th meeting of the 6th Board of Directors;

  2. Verification opinions of Shenwan Hongyuan Securities Underwriting and Sponsoring Co., Ltd. on the early redemption of Qizheng convertible bonds by Tibet Qizheng Tibetan Medicine Co., Ltd.;

  3. Beijing Hairun Tianrui Law Firm’s legal opinion on the early redemption of the convertible corporate bonds of Tibet Qizheng Tibetan Medicine Co., Ltd.

Announcement hereby

Board of Directors of Tibet Qizheng Tibetan Medicine Co., Ltd.

September 1, 2025