Taifu Pump Industry: Announcement on Not Redeeming Taifu Convertible Bonds in Advance
Securities code: 300992 Securities abbreviation: Taifu Pump Industry Announcement number: 2026-074 Bond code: 123160 Bond abbreviation: Taifu Convertible Bonds
Zhejiang Taifu Pump Industry Co., Ltd.
Announcement on Not Redeeming Taifu Convertible Bonds in Advance
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 September 1, 2026 to September 28, 2026, the shares of Zhejiang Taifu Pump Industry Co., Ltd. (hereinafter referred to as the "Company") have met the requirements of at least 15 of the 30 consecutive trading days. The closing price on each trading day is not less than 130% (inclusive) of the current conversion price of the "Taifu Convertible Bonds". According to the "Prospectus for the Issuance of Convertible Corporate Bonds by Zhejiang Taifu Pump Industry Co., Ltd. to Unspecified Targets" (hereinafter referred to as the "Prospectus"), the conditional redemption clause of the "Taifu Convertible Bonds" has been triggered.
The company held the 29th meeting of the fourth board of directors on September 28, 2026, and reviewed and approved the "Proposal on Not Redeeming Taifu Convertible Bonds in Advance". The company's board of directors decided not to exercise the early redemption right of "Taifu Convertible Bonds" this time. At the same time, it was decided that between September 29, 2026 and December 31, 2026, if the conditional redemption clause of the "Taifu Convertible Bonds" is triggered again, the company will not exercise the right of early redemption. Recalculating on the first trading day after December 31, 2026, if the "Taifu Convertible Bonds" trigger the above conditional redemption clause again, the company will convene a board of directors in accordance with relevant laws, regulations and the requirements of the "Prospectus" to review whether to exercise the early redemption rights of the "Taifu Convertible Bonds" and perform its information disclosure obligations in a timely manner.
1. Basic information on convertible corporate bonds
(1) Issuance of convertible corporate bonds
With the approval of the China Securities Regulatory Commission's "Reply on the Registration of Zhejiang Taifu Pump Industry Co., Ltd.'s Issuance of Convertible Corporate Bonds to Unspecified Objects" (CSRC License [2022] No. 1827), the company issued 3.3489 million convertible corporate bonds (hereinafter referred to as "Convertible Bonds" or "Taifu Convertible Bonds") to unspecified objects on September 28, 2022, with a face value of RMB 100 each. yuan, with a total issuance amount of RMB 334.89 million.
The method of issuance adopts preferential allotment to 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 to the original shareholders (including the part that the original shareholders gave up the preferential allotment) is issued online to public investors through the Shenzhen Stock Exchange (hereinafter referred to as the "Shenzhen Stock Exchange") trading system. The part with a subscription amount less than 334.89 million yuan is underwritten by the sponsor (lead underwriter).
(2) Listing status of convertible bonds
With the consent of the Shenzhen Stock Exchange, the company's convertible bonds will be listed for trading on the Shenzhen Stock Exchange on October 25, 2022. The bond abbreviation is "Taifu Convertible Bonds" and the bond code is "123160".
(3) Conversion period of convertible bonds into shares
The conversion period of Taifu convertible bonds starts from the first trading day six months after the issuance of the convertible bonds and ends on the maturity date of the convertible bonds, that is, from April 11, 2023 to September 27, 2028 (if there is a statutory holiday or rest day, it will be extended to the first trading day thereafter; no additional interest will be accrued on the interest payment during the postponement period).
(4) Adjustment of convertible bond conversion price
According to the relevant provisions of the Prospectus, the initial conversion price of "Taifu Convertible Bonds" is 23.40 yuan per share.
According to the "Proposal on Downward Revising the Conversion Price of Taifu Convertible Bonds" reviewed and approved at the 21st meeting of the company's third board of directors and the first extraordinary general meeting of shareholders in 2023, and the "Proposal on Determining a downward revision of the conversion price of Taifu Convertible Bonds" considered and approved at the 23rd meeting of the third board of directors, the company's board of directors decided to revise downward the conversion price of "Taifu Convertible Bonds" to 19.89 yuan/share. The revised conversion price will be effective from May 16, 2023.
According to the resolution of the company's 2022 Annual General Meeting of Shareholders, the company implemented and completed the 2022 annual profit distribution plan on June 9, 2023. The conversion price of "Taifu Convertible Bonds" was adjusted from 19.89 yuan/share to 19.82 yuan/share. The adjusted conversion price will take effect from June 9, 2023.
According to the resolution of the company's 2023 Annual General Meeting of Shareholders, the company implemented and completed the 2023 annual profit distribution plan on June 24, 2024. The conversion price of "Taifu Convertible Bonds" was adjusted from 19.82 yuan/share to 19.75 yuan/share. The adjusted conversion price will take effect on June 24, 2024.
The company held the first extraordinary shareholders' meeting of 2025 on March 7, 2025, and reviewed and approved the "Proposal on Adjusting the Repurchase Price of Class I Restricted Stocks in the 2024 Restricted Stock Incentive Plan and Repurchasing, Cancellation and Voiding of Part of the Restricted Stocks." The company completed the repurchase and cancellation of 688,000 restricted shares at the China Securities Depository and Clearing Co., Ltd. Shenzhen Branch on June 13, 2025. After the above-mentioned share repurchase and cancellation, the conversion price of "Taifu Convertible Bonds" was adjusted from 19.75 yuan/share to 19.84 yuan/share. The adjusted conversion price will take effect from June 16, 2025.
According to the company's 2024 shareholders' meeting resolution, the company implemented and completed the 2024 profit distribution plan on June 27, 2025. The conversion price of "Taifu Convertible Bonds" was adjusted from 19.84 yuan/share to 19.77 yuan/share. The adjusted conversion price will take effect on June 27, 2025.
According to the resolution of the company's 2025 shareholders' meeting, the company implemented and completed the 2025 profit distribution plan on July 10, 2026. The conversion price of "Taifu Convertible Bonds" was adjusted from 19.77 yuan/share to 19.70 yuan/share. The adjusted conversion price will take effect on July 10, 2026.
As of the disclosure date of this announcement, the conversion price of "Taifu Convertible Bonds" is 19.70 yuan per share.
2. Conditional redemption terms and triggering conditions of convertible bonds
(1) Conditional redemption terms
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 15 trading days out of 30 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: I =B×i×t/365
A
I: refers to the current accrued interest;
A
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 30 trading days, the conversion price and closing price before the adjustment will be used for calculation on the trading day before the adjustment, and the conversion price and closing price after the adjustment will be used for the calculation on the trading day after the adjustment.
(2) Situations that trigger conditional redemption clauses
From September 1, 2026 to September 28, 2026, the company's stock price has met the condition that the closing price of at least 15 trading days out of 30 consecutive trading days is not less than 130% (inclusive) of the current conversion price of "Taifu Convertible Bonds". According to the provisions of the "Prospectus", the conditional redemption clause of "Taifu Convertible Bonds" has been triggered.
3. Reasons for not early redemption this time and review procedures
The company held the 29th meeting of the fourth board of directors on September 28, 2026, and reviewed and approved the "Proposal on Not Redeeming Taifu Convertible Bonds in Advance". Based on the current market conditions and the company's own actual situation, in order to safeguard the interests of investors, the company's board of directors decided not to exercise the early redemption right of "Taifu Convertible Bonds" this time. At the same time, it was decided that between September 29, 2026 and December 31, 2026, if the conditional redemption clause of the "Taifu Convertible Bonds" is triggered again, the company will not exercise the right of early redemption. Recalculating on the first trading day after December 31, 2026, if the "Taifu Convertible Bonds" trigger the above conditional redemption clause again, the company will convene a board of directors in accordance with relevant laws, regulations and the requirements of the "Prospectus" to consider whether to exercise the early redemption rights of the "Taifu Convertible Bonds" and perform its information disclosure obligations in a timely manner.
- The company’s actual controllers, controlling shareholders, shareholders holding more than 5% of the shares, directors, and senior managers’ transactions in “Taifu Convertible Bonds” within six months before the redemption conditions are met, and their plans to reduce their holdings of “Taifu Convertible Bonds” in the next six months
After the company's self-examination, the company's actual controller, controlling shareholder, shareholders holding more than 5% of the shares, directors, and senior managers did not trade "Taifu Convertible Bonds" in the six months before the redemption conditions of the "Taifu Convertible Bonds" were met.
As of the disclosure date of this announcement, the above-mentioned entities do not hold "Taifu Convertible Bonds" and have no plans to reduce their holdings of "Taifu Convertible Bonds" in the next six months.
5. Risk warning
Recalculating on the first trading day after December 31, 2026, if the "Taifu Convertible Bonds" trigger the above conditional redemption clause again, the company's board of directors will convene a separate meeting to decide whether to exercise the early redemption right of the "Taifu Convertible Bonds".
Investors are kindly requested to learn more about the relevant regulations on convertible corporate bonds, pay attention to the company's subsequent announcements, and pay attention to investment risks.
Announcement is hereby made.
Board of Directors of Zhejiang Taifu Pump Industry Co., Ltd.
September 28, 2026