Baolaite: Caitong Securities Co., Ltd.'s 2025 first interim trustee management report on the issuance of convertible corporate bonds by Guangdong Baolaite Medical Technology Co., Ltd. to unspecified objects
Stock abbreviation: Baolai Stock code: 300246 Bond abbreviation: Baolai convertible bonds Bond code: 123065
Caitong Securities Co., Ltd.
Regarding the issuance of convertible corporate bonds by Guangdong Baolaite Medical Technology Co., Ltd. to unspecified objects
The 1st interim trusteeship affairs report for 2025
bond trustee
November 2025
Statement
This report is based on the "Measures for the Administration of Corporate Bond Issuance and Transactions", "Code of Conduct for Corporate Bond Trustees" and "The Trusteeship Agreement between Guangdong Baolaite Medical Technology Co., Ltd. and Caitong Securities Co., Ltd. on the issuance of convertible corporate bonds to unspecified objects by Guangdong Baolaite Medical Technology Co., Ltd. in 2020" (hereinafter referred to as Public information disclosure documents such as the "Bond Trusteeship Agreement"), "Guangdong Baolaite Medical Technology Co., Ltd.'s GEM Issuance of Convertible Corporate Bonds to Unspecified Targets Prospectus" (hereinafter referred to as the "Prospectus"), as well as relevant announcements and explanatory documents issued by Guangdong Baolaite Medical Technology Co., Ltd. (hereinafter referred to as the "Company"), were prepared by Caitong Securities Co., Ltd. (hereinafter referred to as "Caitong Securities"), the bond trustee.
This report does not constitute a recommendation for investors to take or not take a certain action. Investors should make independent judgments on relevant matters and should not rely on any content in this report as a commitment or statement made by Caitong Securities.
1. Approval status of this convertible bond
As approved for registration by the China Securities Regulatory Commission's "Zhengjian Xu [2020] No. 1831" document, the company issued 2.19 million convertible corporate bonds to unspecified objects on September 4, 2020, with a face value of 100 yuan each, raising a total of 219 million yuan. After deducting all issuance expenses (excluding tax), the actual net amount of funds raised was 212.6775 million yuan. The above-mentioned raised funds were all received on September 10, 2020, and were verified by the "Capital Verification Report" "Dahua Yanzi (2020) No. 000539" issued by Dahua Accounting Firm (Special General Partnership).
2. Basic situation of this convertible bond
(1) Bond abbreviation and code: Baolai Convertible Bond, 123065.
(2) Release date: September 4, 2020.
(3) Issuance scale: 219 million yuan.
(4) Bond term: 6 years.
(5) Bond interest rates: 0.4% in the first year, 0.7% in the second year, 1.0% in the third year, 1.8% in the fourth year, 2.5% in the fifth year, and 3.5% in the sixth year.
(6) Time limit and method of repayment of principal and interest
The convertible corporate bonds issued this time will pay interest once a year. At maturity, the principal of all convertible corporate bonds that have not been converted into shares will be returned and the interest for the last year will be paid.
- Calculation of annual interest
Annual interest refers to the current interest that holders of this convertible corporate bond can enjoy every full year from the first day of issuance of this convertible corporate bond based on the total par amount of convertible corporate bonds held.
The calculation formula for annual interest is: I=B×i
I: refers to the annual interest amount;
B: Refers to the total par amount of the convertible corporate bonds held by the convertible corporate bond holders on the interest payment credit registration date in the interest accrual year (hereinafter referred to as "the current year" or "each year");
i: refers to the current year’s coupon rate of the convertible corporate bonds.
- Interest payment method
(1) This convertible corporate bond adopts an annual interest payment method, and the starting date of interest calculation is the first day of the issuance of this convertible corporate bond, which is September 4, 2020.
(2) Interest payment date: The annual interest payment date is the day of each full year from the first date of issuance of the convertible corporate bonds. If that day is a legal holiday or rest day, it will be postponed to the next trading day, and no additional interest will be paid during the postponement period.
There is one interest accrual year between two adjacent interest payment dates.
(3) Interest payment creditor's rights registration date: The annual interest payment creditor's rights registration date is the trading day before the annual interest payment date. The company will pay the current year's interest within five trading days after the annual interest payment date. For convertible corporate bonds that are converted into company stocks before the registration date of interest-paying claims (including the registration date of interest-paying claims), the company will no longer pay interest to its holders for this and subsequent interest-bearing years.
(4) The tax payable on the interest income received by the holders of this convertible corporate bond shall be borne by the holders.
(7) Share conversion period
The conversion period of the convertible corporate bonds issued this time starts from the first trading day six months after the completion of the issuance and ends on the maturity date of the convertible corporate bonds.
(8) Conversion price
The initial conversion price of this convertible bond is 40.54 yuan/share, and the current conversion price is 24.02 yuan/share.
(9) Bond guarantee situation
No guarantee is provided for this convertible bond.
(10) Credit rating situation
China Securities Pengyuan Credit Rating Co., Ltd. issued the "2020 Guangdong Baolaite Medical Technology Co., Ltd. GEM Issuance of Convertible Corporate Bonds to Unspecified Objects 2025" on June 13, 2025. "Annual Tracking Rating Report" (No.: Zhongpeng Credit Rating [2025] Tracking No. [184] No. 01), the company's main credit rating result is AA-, the "Baolai Convertible Bond" rating result is AA-, and the rating outlook is "negative".
3. Details of the major events of this convertible bond
On October 24, 2025 and November 10, 2025, the company held the fourth meeting of the ninth board of directors and the fourth extraordinary general meeting of shareholders in 2025 respectively, and reviewed and approved the "Proposal on the Profit Distribution Plan for the First Three Quarters of 2025", based on the total share capital excluding the repurchased shares in the company's special account for repurchase on the equity registration date when implementing the profit distribution plan for the first three quarters of 2025, every 10 shares will be paid to all shareholders registered on the equity registration date. A cash dividend of RMB 0.50 (tax included) was distributed for each share, and a total cash dividend of RMB 13.0804 million was distributed.
The equity registration date for the implementation of this equity distribution is November 25, 2025, and the ex-rights and dividend date is November 26, 2025. For details, please refer to the "Announcement on the Implementation of Equity Distribution for the First Three Quarters of 2025" and the "Announcement on Adjusting the Conversion Price of Baolai Convertible Bonds Due to Equity Distribution" disclosed by the company on the information disclosure website Juchao Information Network.
After this equity distribution, the conversion price of "Bolai Convertible Bonds" was adjusted to 23.97 yuan/share.
4. Analysis of the impact of the above matters on the issuer
The adjustment of the conversion price of "Baolai Convertible Bonds" this time is in compliance with the provisions of the "Prospectus" and does not have a major adverse impact on the company's daily operations and debt solvency.
5. Performance of the bond trustee’s duties
As the trustee manager of "Baolai Convertible Bonds", Caitong Securities, in order to fully protect the interests of bond investors and perform the duties of the bond trustee, communicated with the company in a timely manner after learning the relevant matters, and issued this interim trustee management report in accordance with the "Corporate Bond Issuance and Transaction Management Measures", "Corporate Bond Trustee Manager's Code of Conduct", "Bond Trustee Management Agreement", "Prospectus" and other relevant regulations.
Caitong Securities will continue to pay attention to the company's repayment of principal and interest on this convertible bond and other matters that have a significant impact on the interests of bondholders, and will strictly follow the relevant provisions of the "Bond Trusteeship Agreement" and "Prospectus" to perform the duties of the bond trustee.
Investors are hereby reminded to pay attention to the risks associated with this convertible bond and are asked to make independent judgments on relevant matters.
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(This page has no text, but is the stamped page of "Caitong Securities Co., Ltd.'s 2025 First Temporary Trusteeship Report on Guangdong Baolaite Medical Technology Co., Ltd.'s Issuance of Convertible Corporate Bonds to Unspecified Objects"
Bond trustee: Caitong Securities Co., Ltd.
November 24, 2025