Tianmao Industrial Group Co., Ltd. (hereinafter referred to as "Tianmao Group" or "the Company") stock (stock abbreviation: *ST Tianmao, stock code: 000627) has been continuously suspended from trading since the market opened on August 14, 2025. The active termination of the company's stock listing has been approved by the Company's first extraordinary general meeting of shareholders in 2025. According to the relevant plan for this active termination of the company's stock listing, the Company has completed the distribution of cash option rights, and the company's stock will enter the exercise declaration and settlement phase, and will no longer be traded. Investors are advised to pay attention to investment risks. Each eligible A-share shareholder holding 1 share has the right to exercise 1 cash option right. A-share shareholders who receive cash option rights can declare to exercise the cash option in whole or in part at the exercise price of 1.60 CNY per share during the cash option declaration period and will receive cash compensation after settlement. After the company's stock enters the delisting segment, investors in the Shenzhen Stock Connect may not be able to transfer their stocks, and investors are reminded to pay attention to investment risks.
The cash option declaration period is from September 15 to September 19, 2025, during trading hours from 9:30 to 11:30 AM and from 1:00 to 3:00 PM. Shareholders who have received cash options can exercise their rights in whole or in part at the exercise price of 1.60 CNY per share during the declaration period, and will transfer their shares to the cash option provider, Jingmen Weituo Hongcheng Management Partnership (Limited Partnership). If eligible A-share shareholders do not declare or effectively declare the exercise of cash options during the declaration period, they will not be able to obtain the corresponding cash compensation. The Company and all members of the Board of Directors guarantee the authenticity, accuracy, and completeness of the announcement, with no false records, misleading statements, or significant omissions.
As of August 13, 2025, the closing price of Tianmao Group was 1.58 CNY per share, and the cash option exercise price is 1.60 CNY per share. Shareholders who effectively declare the exercise of cash options will receive cash compensation at the exercise price of 1.60 CNY per share. The reference stock price of the underlying stock (i.e., Tianmao Group stock) and the cash option agreed price premium ratio does not exceed 50%, and the absolute value of the Delta of the rights contained in this cash option is not less than 5%. According to the relevant provisions of the "Shenzhen Stock Exchange Self-Regulatory Guidelines for Listed Companies No. 1 - Business Handling," the Company will provide cash options through the trading system (displayed as "cash options" during system declaration), and specific operational methods are detailed in the following section "III. Methods for Declaring the Exercise of Cash Options."
This announcement only explains matters related to the declaration and exercise of cash options and does not constitute a recommendation for declaring the exercise of cash options. Investors wishing to understand the details of the plan for the active termination of the listing should read the full text of the announcement "Tianmao Industrial Group Co., Ltd. on Withdrawing the Company's Stock from Trading on the Shenzhen Stock Exchange" disclosed on August 8, 2025, and pay attention to related announcements issued by the Company in a timely manner.