Important Statement
This report is prepared by the trustee manager, China Merchants Securities Co., Ltd. (hereinafter referred to as "China Merchants Securities"), based on the "Management Measures for Convertible Corporate Bonds," the "Trust Management Agreement," the "Prospectus for the Issuance of Convertible Corporate Bonds," and the "2025 Annual Report." China Merchants Securities has not independently verified the contents and information quoted from these documents and does not guarantee their authenticity, accuracy, or completeness. This report does not constitute a recommendation for investors to act or refrain from acting; investors should make independent judgments regarding related matters.