Jiudian Pharmaceutical: Announcement on not revising the share conversion price of Jiudian Zhuan 02 downwards
Securities code: 300705 Securities abbreviation: Jiudian Pharmaceutical
Announcement number: 2026-032 Bond code: 123223 Bond abbreviation: Jiudian Zhuan 02
Hunan Jiudian Pharmaceutical Co., Ltd.
Announcement on not revising down the conversion price of Jiudianzhuan 02
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.
Special tips:
Since the condition for downward revision of the conversion price of Jiudian Zhuan 02 has been triggered between May 14, 2026 and June 3, 2026, upon review at the 18th meeting of the company’s fourth board of directors, the board of directors decided not to revise the conversion price downward this time, and if it is triggered again in the next six months (from June 4, 2026 to December 3, 2026), it will not propose a downward revision plan. It will be recalculated on the first trading day after December 3, 2026. If it is triggered again, the board of directors will review and decide whether to revise downward in accordance with relevant regulations.
1. Basic information on convertible bonds
With the approval of the China Securities Regulatory Commission's Securities Regulatory Commission (2023) No. 526 Document, Hunan Jiudian Pharmaceutical Co., Ltd. (hereinafter referred to as the "Company") issued 3.60 million convertible bonds to unspecified objects on September 15, 2023, with a face value of 100 yuan each, and a total issuance of 360 million yuan. With the consent of the Shenzhen Stock Exchange (hereinafter referred to as the "Shenzhen Stock Exchange"), the company's convertible bonds will be listed for trading on the Shenzhen Stock Exchange on October 13, 2023. The bond abbreviation is: Jiudianzhuan 02, and the bond code is: 123223. The share conversion period of Jiudianzhuan 02 is from March 21, 2024 to September 14, 2029.
As of the disclosure date of this announcement, the conversion price of Jiudianzhuan 02 is 14.55 yuan per share.
2. Conditions for downward revision of convertible bond conversion price
According to the convertible bond issuance plan in the Prospectus, the conditions for downward revision of the conversion price are as follows:
(1) Correction conditions and correction range
During the existence of the convertible bonds, when the closing price of the company's stock on at least fifteen trading days out of any thirty consecutive trading days is lower than 85% of the current conversion price, the company's board of directors has the right to propose a downward revision plan for the conversion price and submit it to the company's shareholders' meeting for a vote.
The above plan must be approved by more than two-thirds of the voting rights held by shareholders attending the meeting before it can be implemented. When voting at the shareholders' meeting, shareholders holding convertible bonds issued this time should recuse themselves. The revised stock conversion price shall not be lower than the higher of the average trading price of the company's stock on the twenty trading days before the date of the shareholders' meeting and the average trading price of the company's stock on the previous trading day. At the same time, the revised share conversion price shall not be lower than the latest audited net asset value per share and face value of the stock.
If a conversion price adjustment occurs within the aforementioned thirty trading days, the calculation will be based on the conversion price and closing price before the adjustment on the trading day before the conversion price adjustment date, and the adjusted conversion price and closing price on the conversion price adjustment date and subsequent trading days.
(2) Correction procedures
When the company revise the conversion price downward, it must publish an announcement of the resolution of the shareholders' meeting on the listed company information disclosure media designated by the China Securities Regulatory Commission, announcing the extent of the correction, the equity registration date and the period of suspension of share conversion (if necessary). Conversion applications will be resumed and the revised conversion price will be implemented starting from the first trading day after the equity registration date (i.e., the date of revision of the conversion price).
If the conversion price revision date is on or after the conversion application date but before the conversion share registration date, such conversion application shall be executed based on the revised conversion price.
3. Specific instructions on not revising the convertible bond conversion price downward this time
From May 14, 2026 to June 3, 2026, the closing price of the company's stock on fifteen of the thirty consecutive trading days has been lower than 85% of the current conversion price, which has triggered the downward revision of the Jiudian Zhuan 02 conversion price.
Taking into account multiple factors such as the company's basic situation, market environment, stock price trend, as well as confidence in the company's long-term stable development and intrinsic value, in order to safeguard the overall and long-term interests of all shareholders and creditors, the company held the 18th meeting of the fourth board of directors on June 3, 2026, to review and pass the "Proposal on Not Revising the Jiudian Transfer 02 Conversion Price Downward". The company's board of directors decided not to downwardly revise the Jiudian Transfer 02 Conversion Price this time, and in the next six months (from 2026 From June 4 to December 3, 2026), if Jiudianzhuan 02 triggers the conditions for downward revision of the conversion price again, the company will not propose a downward revision plan. Recalculating on the first trading day after December 3, 2026, if Jiudian Zhuan 02 triggers the downward revision clause of the conversion price again, the company's board of directors will perform review procedures in accordance with relevant regulations and decide whether to exercise the right to downward revision of the conversion price of Jiudian Zhuan 02.
Investors are kindly requested to learn more about the relevant regulations of convertible bonds and pay attention to investment risks.
4. Documents for reference
Resolution of the 18th meeting of the 4th Board of Directors.
Announcement is hereby made.
Board of Directors of Hunan Jiudian Pharmaceutical Co., Ltd.
June 3, 2026