Announcement on the Adjustment of Conversion Price for Xinru Convertible Bonds
Special Reminder:
- Bond Code: 128142; Bond Abbreviation: Xinru Convertible Bonds.
- Conversion Price Before Adjustment: 17.88 CNY/share.
- Conversion Price After Adjustment: 17.50 CNY/share.
- Effective Date of This Adjustment: June 9, 2026.
- Conversion will not be suspended prior to the adjustment.
Basis for the Adjustment of Conversion Price
New Hope Dairy Co., Ltd. (hereinafter referred to as "the Company") publicly issued 718 million CNY of convertible corporate bonds (Bond Abbreviation: Xinru Convertible Bonds, Bond Code: 128142) on December 18, 2020, and these bonds were listed for trading on the Shenzhen Stock Exchange on January 19, 2021, with a conversion price of 18.69 CNY/share. According to the "Prospectus for the Public Issuance of A-Share Convertible Corporate Bonds by New Hope Dairy Co., Ltd." (hereinafter referred to as "the Prospectus") and relevant regulations from the China Securities Regulatory Commission regarding the issuance of convertible corporate bonds, if the company undergoes stock dividends, capital increases, new share issuances (excluding increases in capital due to the conversion of these bonds), rights issues, or cash dividends, the conversion price will be adjusted accordingly (retaining two decimal places, rounding the last digit). The specific formula for adjusting the conversion price is as follows:
| Formula | Description |
|---|---|
| P1=P0/(1+n) | For stock dividends or capital increases |
| P1=(P0+A×k)/(1+k) | For new share issuances or rights issues |
| P1=(P0+A×k)/(1+n+k) | For simultaneous occurrences of the above two |
| P1=P0-D | For cash dividends |
| P1=(P0-D+A×k)/(1+n+k) | For simultaneous occurrences of the above three |
Where:
- P0 is the conversion price before adjustment,
- n is the rate of stock dividends or capital increases,
- k is the rate of new share issuances or rights issues,
- A is the price of new shares or rights,
- D is the cash dividend per share,
- P1 is the conversion price after adjustment.