Yanpai Shares: Indicative Announcement Regarding Yanpai Convertible Bonds May Meet Redemption Conditions
Securities code: 301081 Securities abbreviation: Yanpai Shares Announcement number: 2026-069 Bond code: 123243 Bond abbreviation: Yanpai Convertible Bonds
Zhejiang Yanpai Filtration Technology Co., Ltd.
Indicative Announcement Regarding Yanpai Convertible Bonds May Meet Redemption Conditions
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:
From August 27, 2026 to September 9, 2026, the closing price of Zhejiang Yanpai Filtration Technology Co., Ltd. (hereinafter referred to as the "Company") stock has been no less than 130% (including 130%, or 9.386 yuan/share) of the current conversion price of "Yampai Convertible Bonds" of 7.22 yuan/share for ten trading days;
If the conditional redemption clause of the "Yanpai Convertible Bonds" is triggered in the future (that is, "during the conversion period, if the closing price of the company's stock on at least fifteen trading days out of thirty consecutive trading days is not less than 130% of the current conversion price (inclusive) 130%)"), according to the relevant provisions of the conditional redemption clause in the "Prospectus for the issuance of convertible corporate bonds by Zhejiang Yanpai Filtration Technology Co., Ltd. to unspecified objects" (hereinafter referred to as the "Prospectus"), the company has the right to decide to redeem all or part of the unconverted convertible corporate bonds (hereinafter referred to as "convertible bonds") at the price of the bond's face value plus current accrued interest;
Investors are kindly requested to learn more about the relevant regulations of this convertible bond, pay attention to the company's subsequent announcements, and pay attention to investment risks.
1. Basic information on convertible corporate bonds
(1) Issuance of convertible corporate bonds
With the approval of the China Securities Regulatory Commission (hereinafter referred to as the "China Securities Regulatory Commission") "Reply on the Registration of Zhejiang Yanpai Filtration Technology Co., Ltd.'s Issuance of Convertible Corporate Bonds to Unspecified Objects" (CSRC License [2024] No. 40), Yanpai Shares issued 4,678,889 convertible bonds to unspecified objects on July 10, 2024, with a face value of RMB each. 100.00 yuan, the total amount of funds raised was RMB 467.8889 million (including issuance costs), and the net amount of funds raised was RMB 460.6697 million.
(2) Listing status of convertible corporate bonds
The convertible bonds issued by the company have been listed for trading on the Shenzhen Stock Exchange on July 26, 2024. The bond is referred to as "Yanpai Convertible Bonds" and the bond code is "123243".
(3) Conversion period of convertible corporate bonds
The conversion period of the convertible bonds issued this time starts from the first trading day six months after the end of the issuance of the convertible corporate bonds (July 16, 2024, T+4 day) to the maturity date of the convertible corporate bonds, that is, from January 16, 2025 to July 9, 2030 (if there is a statutory holiday or rest day, it will be postponed to the first trading day after that, no additional interest will be accrued on the interest payment during the postponement period).
(4) Adjustment of convertible bond conversion price
- Initial conversion price
According to the relevant provisions of laws and regulations and the provisions of the Prospectus, the initial conversion price of the convertible corporate bonds issued this time is 7.58 yuan per share.
- Adjustment of stock conversion price
(1) First adjustment
As the company handled the registration of shares vested in the first vesting period of the first vesting period of the reserved grant portion of the 2022 restricted stock incentive plan in accordance with relevant regulations, the company's total share capital increased from 204,804,000 shares to 205,771,368 shares, and the listing date for the new shares will be September 25, 2024. According to the convertible bond issuance plan disclosed in the "Prospectus" and the relevant regulations of the China Securities Regulatory Commission on the issuance of convertible bonds, the conversion price of "Yanpai Convertible Bonds" will be adjusted from the original 7.58 yuan/share to 7.57 yuan/share. The adjusted conversion price will take effect from September 25, 2024. For details, please refer to the "Announcement on Adjustments to the Conversion Price of Convertible Corporate Bonds" disclosed by the company on the cninfo.com (http://www.cninfo.com.cn) on September 23, 2024.
(2) Second adjustment
Due to the company's implementation of the annual equity distribution in 2024, according to the convertible bond issuance plan disclosed in the "Prospectus" and the relevant regulations of the China Securities Regulatory Commission on the issuance of convertible bonds, the conversion price of "Yanpai Convertible Bonds" will be adjusted from the original 7.57 yuan/share to 7.27 yuan/share. The adjusted conversion price will take effect from June 6, 2025. For details, please refer to the company's announcement The "Announcement on the Adjustment of the Conversion Price of Convertible Corporate Bonds" was disclosed on the cninfo.com (http://www.cninfo.com.cn) on May 29, 2025.
(3) The third adjustment
Due to the company's implementation of the annual equity distribution in 2025, according to the convertible bond issuance plan disclosed in the "Prospectus" and the relevant regulations of the China Securities Regulatory Commission on the issuance of convertible bonds, the conversion price of "Yanpai Convertible Bonds" will be adjusted from the original 7.27 yuan/share to 7.22 yuan/share. The adjusted conversion price will take effect from June 8, 2026. For details, please refer to the company's announcement The "Announcement on the Adjustment of the Conversion Price of Convertible Corporate Bonds" was disclosed on the cninfo.com (http://www.cninfo.com.cn) on June 1, 2026.
As of the disclosure date of this announcement, the conversion price of the company's convertible bonds is 7.22 yuan per share.
2. The conditional redemption clause of convertible corporate bonds may be triggered
(1) Conditional redemption terms
According to the Prospectus, the relevant provisions of the conditional redemption terms of “Yanpai 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 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 current year’s coupon rate of convertible corporate bonds;
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.
(2) Situations that may trigger the conditional redemption clause of convertible bonds
From August 27, 2026 to September 9, 2026, the closing price of the company's stock has been no less than 130% (including 130%, or 9.386 yuan/share) of the current conversion price of "Yanpai Convertible Bonds" of 7.22 yuan/share for ten trading days. According to the Prospectus, if the conditional redemption clause of the "Yanpai Convertible Bonds" is triggered in the future (that is, during the conversion period of the issuance of convertible bonds, 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% (including 130%) of the current conversion price), the company's board of directors has the right to decide to redeem all or part of the unconverted "Yanpai Convertible Bonds" at the face value of the convertible bonds plus current accrued interest.
3. Risk warning
The company will comply with relevant regulations such as the "Administrative Measures for Convertible Corporate Bonds", "Shenzhen Stock Exchange GEM Stock Listing Rules", "Shenzhen Stock Exchange Self-Regulatory Supervision Guidelines for Listed Companies No. 15 - Convertible Corporate Bonds" and the relevant provisions of the "Prospectus". If the conditional redemption clause is triggered, the company will convene a board of directors on the day when the "conditional redemption clause" is triggered to review whether to redeem the "Yanpai Convertible Bonds" and perform its information disclosure obligations in a timely manner.
Investors are kindly requested to learn more about the relevant regulations of this convertible bond, pay attention to the company's subsequent announcements, and pay attention to investment risks.
Announcement is hereby made.
Board of Directors of Zhejiang Yanpai Filtration Technology Co., Ltd.
September 9, 2026