Jiuqiang Bio: Announcement on the conversion of convertible corporate bonds in the first quarter of 2026
Securities code: 300406 Securities abbreviation: Jiuqiang Biotech Announcement number: 2026-016 Bond code: 123150 Bond abbreviation: Jiuqiang Convertible Bonds
Beijing Jiuqiang Biotechnology Co., Ltd.
Announcement on the conversion of convertible corporate bonds in the first quarter of 2026
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:
The conversion period of the "Nine Strong Convertible Bonds" (bond code: 123150) is from January 6, 2023 to June 29, 2028; the latest effective conversion price is 16.48 yuan/share.
In the first quarter of 2026, no conversion of shares of the “Top Nine Convertible Bonds” occurred.
As of the end of the first quarter of 2026, the company's remaining convertible bonds were 11,210,221, and the total remaining par amount was RMB 1,121,022,100.
In accordance with the relevant provisions of the "Shenzhen Stock Exchange GEM Stock Listing Rules" and the "Shenzhen Stock Exchange Self-Regulatory Guidelines for Listed Companies No. 15 - Convertible Corporate Bonds", Beijing Jiuqiang Biotechnology Co., Ltd. (hereinafter referred to as the "Company") now announces the conversion of convertible corporate bonds and changes in the company's total share capital in the first quarter of 2026 as follows:
1. Issuance and listing of convertible corporate bonds
(1) Issuance of convertible bonds
With the approval of the China Securities Regulatory Commission's "Reply on the Registration of Beijing Jiuqiang Biotechnology Co., Ltd.'s Issuance of Convertible Corporate Bonds to Unspecified Objects" (CSRC License [2022] No. 1081), the company issued 11,390,000 convertible corporate bonds to unspecified objects on June 30, 2022, with an issuance price of 100 face value each. Yuan, issued at face value, and raised a total of RMB 1,139,000,000. The method of issuance adopts preferential allotment by the original shareholders registered in the Shenzhen Branch of China Securities Depository and Clearing Co., Ltd. after the market closes on the equity registration date. The balance after the preferential allotment by the original shareholders (including the portion of the original shareholders who gave up the preferential allotment) is issued to public investors through the Shenzhen Stock Exchange trading system.
(2) Listing status of convertible bonds
With the consent of the Shenzhen Stock Exchange, the convertible corporate bonds issued by the company will be listed for trading on the Shenzhen Stock Exchange on July 20, 2022. The bond code is "123150", and the bond is referred to as "Nine Strong Convertible Bonds".
(3) Conversion period of convertible bonds into shares
The conversion period of the "Nine Strong Convertible Bonds" starts from the first trading day (January 6, 2023) six months after the issuance of the convertible bonds (July 6, 2022) and ends on the maturity date of the convertible bonds (June 29, 2028).
2. Previous conversion price adjustments of the “Top Nine Convertible Bonds”
According to the "basis for determining the initial conversion price" in the "Prospectus", the initial conversion price of the "Nine Strong Convertible Bonds" is RMB 17.63 per share. The previous conversion price adjustments are as follows:
(1) Repurchase and cancellation of restricted stocks to adjust the conversion price of convertible bonds
The company's relevant repurchase and cancellation involved 5 people, and the total number of shares repurchased and canceled was 142,395 shares, accounting for 0.0242% of the company's total share capital of 588,984,300 shares before cancellation. Since the repurchased and canceled shares accounted for a small proportion of the company's total share capital, it was calculated that after the completion of the restricted stock repurchase and cancellation, the conversion price of the "Top Nine Convertible Bonds" remained unchanged at 17.63 yuan/share. For details, please refer to the "Announcement on the Repurchase and Cancellation of Restricted Stocks without Adjusting the Conversion Price of Convertible Bonds" disclosed by the company on the cninfo.com (http://www.cninfo.com.cn) on August 17, 2022 (Announcement Number: 2022-099).
(2) Adjustment of convertible bond conversion price for annual equity distribution in 2022
Due to the implementation of the annual equity distribution in 2022, the conversion price of the "Nine Strong Convertible Bonds" has been reduced from 17.63 yuan/share to 17.53 yuan/share. The adjusted conversion price will take effect from May 22, 2023 (the ex-rights and ex-dividend date of the equity distribution). For specific content, please refer to the "Announcement on the Adjustment of the Conversion Price of the Nine Convertible Bonds" (Announcement Number: 2023-040) disclosed by the company on the Cninfo Network (http://www.cninfo.com.cn) on May 15, 2023.
(3) Changes in registered capital and adjustment of convertible bond conversion price
Due to the change in the company's registered capital, the conversion price of the "Nine Strong Convertible Bonds" was raised from 17.53 yuan/share to 17.55 yuan/share. The adjusted conversion price will take effect from July 6, 2023. For details, please refer to the "Announcement on the Adjustment of the Conversion Price of the Nine Convertible Bonds" disclosed by the company on the cninfo.com (http://www.cninfo.com.cn) on July 6, 2023 (announcement number: 2023-062).
(4) Adjustment of convertible bond conversion price for annual equity distribution in 2023
Due to the implementation of the annual equity distribution in 2023, the conversion price of the "Nine Strong Convertible Bonds" has been reduced from 17.55 yuan/share to 17.35 yuan/share. The adjusted conversion price will take effect from May 7, 2024 (the ex-rights and ex-dividend date of the equity distribution). For specific content, please refer to the "Announcement on the Adjustment of the Conversion Price of the Nine Convertible Bonds" (Announcement No.: 2024-033) disclosed by the company on the Cninfo Network (http://www.cninfo.com.cn) on April 25, 2024.
(5) Trigger downward revision clause in 2024
From July 11, 2024 to July 31, 2024, the closing price of the company's stock price has been lower than 85% of the current conversion price (i.e. 14.75 yuan/share) for at least fifteen of the thirty consecutive trading days, which has triggered the downward revision clause of the conversion price stipulated in the "Prospectus".
The company's board of directors comprehensively considered the company's basic situation, stock price trends, market environment and other factors, as well as its confidence in the company's long-term stable development and intrinsic value. In order to safeguard the interests of all investors, the company held the ninth meeting of the fifth board of directors on July 31, 2024 to review and approve the "Proposal on Not Revising the Conversion Price of the "Top Nine Convertible Bonds" downwards." January 31, 2025), if the downward revision clause of the conversion price of the "Top Nine Convertible Bonds" is triggered again, no downward revision plan will be proposed. For details, please refer to the "Announcement on Not Revising the Conversion Price of the "Nine Strong Convertible Bonds" downwards" disclosed by the company on the cninfo.com (http://www.cninfo.com.cn) on July 31, 2024 (announcement number: 2024-061).
(6) Repurchase and cancellation of restricted stocks to adjust the conversion price of convertible bonds
The company's related repurchase and cancellation involved 3 people, and the total number of shares repurchased and canceled was 119,876 shares, accounting for 0.0204% of the company's total share capital of 588,446,367 shares before cancellation. Among them, a total of 7,767 shares were repurchased and cancelled. Some of the restricted stocks first granted under the fourth phase of the restricted stock incentive plan were repurchased and canceled; a total of 112,109 partial restricted stocks first granted under the fifth phase of the restricted stock incentive plan were repurchased and canceled. shares. Since the repurchased and canceled shares account for a small proportion of the company's total equity, after calculation, the conversion price of the "Nine Strong Convertible Bonds" will not be adjusted, and the conversion price will still be 17.35 yuan/share. For specific content, please refer to the "Announcement on the Repurchase and Cancellation of Restricted Stocks without Adjusting the Conversion Price of Convertible Bonds" disclosed by the company on the Cninfo Network (http://www.cninfo.com.cn) on November 15, 2024 (Announcement Number: 2024-093).
(7) Adjustment of convertible bond conversion price for annual equity distribution in 2024
Due to the implementation of the annual equity distribution in 2024, the conversion price of the "Nine Top Convertible Bonds" has been reduced from 17.35 yuan/share to 16.95 yuan/share. The adjusted conversion price will take effect from May 6, 2025 (the ex-rights and ex-dividend date of the equity distribution). For specific content, please refer to the "Announcement on the Adjustment of the Conversion Price of Nine Convertible Bonds" (Announcement Number: 2025-035) disclosed by the company on April 24, 2025 on the Cninfo Network (http://www.cninfo.com.cn).
(8) The downward revision clause will be triggered for the first time in 2025
From April 7, 2025 to May 9, 2025, the company's stock price has been lower than 85% of the current conversion price for at least fifteen of the thirty consecutive trading days. Due to the implementation of the 2024 annual equity distribution, the conversion price of the "Top Nine Convertible Bonds" has been reduced from 17.35 yuan/share to 16.95 yuan/share. The adjusted conversion price has been reduced since May 2025. Effective from the 6th. On the trading day before the conversion price adjustment date, it is calculated based on the conversion price and closing price before the adjustment (that is, the price that triggers the downward revision condition is less than 14.75 yuan/share). On the conversion price adjustment day and the trading days after it, it is calculated based on the adjusted conversion price and closing price (that is, the price that triggers the downward revision condition is less than 14.41 yuan/share). The downward revision of the conversion price stipulated in the "Prospectus" of the "Top Nine Convertible Bonds" has been triggered.
The company held the 16th meeting of the fifth board of directors on May 9, 2025, and reviewed and approved the "Proposal on Not Revising the Conversion Price of the "Top Nine Convertible Bonds" downwards". The company's board of directors comprehensively considered the company's basic situation, stock price trends, market environment and other factors, as well as its confidence in the company's long-term stable development and intrinsic value. In order to protect the interests of all investors, the company's board of directors decided not to revise downward the conversion price of the "Top Nine Convertible Bonds" this time. At the same time, within the next three months after this board of directors review and approval (i.e., May 10, 2025 to August 9, 2025), if the downward revision clause of the conversion price of the "Top Nine Convertible Bonds" is triggered again, no downward revision plan will be proposed. For details, please refer to the "Announcement on Not Revising the Conversion Price of the "Top Nine Convertible Bonds" Downward" (announcement number: 2025-042) disclosed by the company on the cninfo.com (http://www.cninfo.com.cn) on May 9, 2025.
(9) Repurchase and cancellation of restricted stocks to adjust the conversion price of convertible bonds
The company's related repurchase and cancellation involved 51 people, and the total number of shares repurchased and canceled was 2,017,966 shares, accounting for 0.34% of the company's total share capital of 588,326,594 shares before cancellation. In the fifth phase of the restricted stock incentive plan, 16,817 restricted stocks were repurchased and canceled due to the resignation of the incentive targets; 2,001,149 restricted stocks were repurchased and canceled for the second release period due to company-level performance assessment failure to meet the standards, and 2,001,149 restricted stocks were reserved for the first release period, of which 1,832,988 shares were first granted; 168,161 shares were reserved for grant. The conversion price of the "Nine Strong Convertible Bonds" will be adjusted from the original 16.95 yuan/share to 16.98 yuan/share. The adjusted conversion price will take effect from July 23, 2025. For details, please refer to the "Announcement on the Adjustment of the Conversion Price of the Nine Convertible Bonds" disclosed by the company on the cninfo.com (http://www.cninfo.com.cn) on July 22, 2025 (announcement number: 2025-055).
(10) Adjustment of convertible bond conversion price for 2025 semi-annual equity distribution
Due to the implementation of the 2025 semi-annual equity distribution, the conversion price of the "Nine Top Convertible Bonds" has been reduced from 16.98 yuan/share to 16.68 yuan/share. The adjusted conversion price will take effect from September 5, 2025 (the ex-rights and ex-dividend date of the equity distribution). For specific content, please refer to the "Announcement on the Adjustment of the Conversion Price of the Nine Convertible Bonds" (Announcement No.: 2025-067) disclosed by the company on the Cninfo Network (http://www.cninfo.com.cn) on August 29, 2025.
(11) The downward revision clause is triggered for the second time in 2025
From August 27, 2025 to September 18, 2025, the company's stock price has been lower than 85% of the current conversion price for at least fifteen trading days out of thirty consecutive trading days (from August 27, 2025 to September 4, 2025, it was 14.43 yuan/share, and from September 5, 2025, it was 14.18 yuan/share) Yuan/share) has triggered the downward revision clause of the conversion price stipulated in the "Prospectus" of the "Nine Convertible Bonds".
The company held the 18th meeting of the fifth board of directors on September 18, 2025, and reviewed and approved the "Proposal on Not Revising the Conversion Price of the "Top Nine Convertible Bonds" downwards". The company's board of directors comprehensively considered the company's basic situation, stock price trends, market environment and other factors, as well as its confidence in the company's long-term stable development and intrinsic value. In order to protect the interests of all investors, the company's board of directors decided not to revise downward the conversion price of the "Top Nine Convertible Bonds" this time. At the same time, within the next six months after this board of directors' review and approval (i.e., from September 19, 2025 to March 18, 2026), if the downward revision clause of the conversion price of the "Top Nine Convertible Bonds" is triggered again, no downward revision plan will be proposed. For details, please refer to the "Announcement on Not Revising the Conversion Price of the "Top Nine Convertible Bonds" Downward" (announcement number: 2025-080) disclosed by the company on the cninfo.com (http://www.cninfo.com.cn) on September 18, 2025.
(12) The second interim equity distribution in 2025 adjusts the convertible bond conversion price
Due to the implementation of the second interim equity distribution in 2025, the conversion price of the "Nine Convertible Bonds" has been reduced from 16.68 yuan/share to 16.48 yuan/share. The adjusted conversion price will take effect from November 27, 2025 (the ex-rights and ex-dividend date of the equity distribution). For details, please refer to the "Announcement on the Adjustment of the Conversion Price of the Nine Convertible Bonds" disclosed by the company on the cninfo.com (http://www.cninfo.com.cn) on November 20, 2025 (announcement number: 2025-110).
3. Equity conversion and share changes of “Nine Convertible Bonds”
In the first quarter of 2026, no conversion of shares of the “Top Nine Convertible Bonds” occurred. As of March 31, 2026, there were still 11,210,221 "Nine Convertible Bonds" with a total remaining par amount of RMB 1,121,022,100. The changes in the company's shares in the first quarter of 2026 are as follows:
Before this share change After this share change
Increase or decrease due to share transfer Increase or decrease due to other reasons
Nature of shares (as of December 31, 2025) (as of March 31, 2026) Change (shares) Change (shares)
Quantity (shares) Proportion (%) Quantity (shares) Proportion (%)
Circulating shares/non-tradable shares with sales restrictions 161,892,323 27.61 0 93,894 161,986,217 27.63 Among them: executive locked shares 161,724,161 27.58 0 93,894 161,818,055 27.6 Equity incentive restricted shares 168,162 0.03 0 0 168,162 0.03
Circulable shares without selling restrictions 424,416,305 72.39 0 -93,894 424,322,411 72.37
Total share capital 586,308,628 100 0 0 586,308,628 100 Notes: 1. “Increases and decreases due to other reasons” are due to the recalculation of the statutory limit of transferable shares of executive locked shares in 2026.
If the total number of values in the above table does not match the sum of each sub-item value, it is due to rounding.
4. Others
If investors have any questions about the above content, please call the company's investor consultation hotline "010-82247199" for consultation.
5. Documents for reference
The share capital structure table of "Nine Strong Biotech" as of March 31, 2026 issued by the Shenzhen Branch of China Securities Depository and Clearing Co., Ltd.;
The equity structure table of the "Top Nine Convertible Bonds" as of March 31, 2026 issued by the Shenzhen Branch of China Securities Depository and Clearing Co., Ltd.
Announcement is hereby made.
Board of Directors of Beijing Jiuqiang Biotechnology Co., Ltd.
April 1, 2026