Notice on the Fourth Reminder of Early Redemption of Xinfeng Convertible Bonds by Sangfor Technologies Inc.
The company and all members of the board guarantee that the content of this information disclosure is true, accurate, and complete, without false records, misleading statements, or significant omissions.
Important Notice:
- Redemption price of "Xinfeng Convertible Bonds": 100.51 CNY per bond (including interest and tax).
- Last trading day for convertible bonds: March 12, 2026.
- Redemption date for convertible bonds: March 17, 2026.
- Last day for conversion of convertible bonds: March 17, 2026.
- Date for issuer's redemption funds to arrive: March 20, 2026.
- Date for investors to receive redemption funds: March 24, 2026.
- Redemption type: Full redemption.
- As of the close of trading on March 16, 2026, any "Xinfeng Convertible Bonds" that have not been converted will be forcibly redeemed. After this redemption is completed, "Xinfeng Convertible Bonds" will be delisted from the Shenzhen Stock Exchange. Bondholders are reminded to convert their bonds within the specified period. If any "Xinfeng Convertible Bonds" held by bondholders are pledged or frozen, it is recommended to lift the pledge or freeze before the last conversion date to avoid being redeemed due to inability to convert.
- Bondholders wishing to convert must open trading permissions for the ChiNext board. Investors who do not meet the suitability management requirements for ChiNext stocks cannot convert their held "Xinfeng Convertible Bonds" into stocks, and investors are reminded to pay attention to the risk of being unable to convert.
- Risk warning: Any "Xinfeng Convertible Bonds" that have not been converted by the close of trading on March 16, 2026, will be forcibly redeemed at the price of 100.51 CNY per bond. Due to the significant difference between the current secondary market price of "Xinfeng Convertible Bonds" and the redemption price, bondholders are reminded to convert their bonds within the specified period. Failure to convert in a timely manner may result in losses, and investors are advised to be aware of the risks.
Sangfor Technologies Inc. (hereinafter referred to as "the Company") has seen its stock price close at or above 130% of the current conversion price of 110.93 CNY per share (i.e., 144.21 CNY per share) for 15 out of 30 trading days from January 12, 2026, to February 11, 2026, triggering the conditional redemption clause in the "Sangfor Technologies Inc. Prospectus for Issuing Convertible Bonds to Unspecified Objects" (hereinafter referred to as "the Prospectus"). The Company held the 36th meeting of the third board of directors on February 11, 2026, and approved the proposal for the early redemption of "Xinfeng Convertible Bonds." Considering the current market and the actual situation of the Company, to reduce financial costs and subsequent interest expenses, the board of directors has decided to exercise the early redemption rights of "Xinfeng Convertible Bonds" and authorized the management to handle all matters related to the redemption.
I. Basic Information of Convertible Bonds
(1) Issuance and Listing of Convertible Bonds
With the approval of the China Securities Regulatory Commission regarding the registration of Sangfor Technologies Inc. to issue convertible bonds to unspecified objects (Approval No. [2023] 1428), the Company issued 12,147,560 convertible bonds (hereinafter referred to as "convertible bonds" or "Xinfeng Convertible Bonds") on July 27, 2023, with a face value of 100 CNY each, totaling 1,214,756,000 CNY. The convertible bonds were listed for trading on the Shenzhen Stock Exchange on August 18, 2023, under the name "Xinfeng Convertible Bonds" and bond code "123210."
(2) Conversion Period of Convertible Bonds
The conversion period for this convertible bond starts from the first trading day after six months from the end of the issuance (February 2, 2024) until the maturity date of the convertible bonds (July 26, 2029).