Announcement on the Sixth Reminder of Early Redemption of Xinfeng Convertible Bonds by Sangfor Technologies Inc.
Sangfor Technologies Inc. and all members of the board of directors 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.
- According to the arrangement, "Xinfeng Convertible Bonds" that have not been converted by the close of trading on March 16, 2026, will be forcibly redeemed. After this redemption is completed, "Xinfeng Convertible Bonds" will be delisted from the Shenzhen Stock Exchange. Bondholders are reminded to pay attention to the conversion within the deadline.
- If bondholders have "Xinfeng Convertible Bonds" that 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.
- Risk warning: "Xinfeng Convertible Bonds" that remain unconverted after 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 within the deadline; failure to do so may result in losses. Investors are advised to pay attention to the risks.
Sangfor Technologies Inc. (hereinafter referred to as "the Company") stock has shown that from January 12, 2026, to February 11, 2026, the closing price has not been lower than 130% of the current conversion price of "Xinfeng Convertible Bonds" at 110.93 CNY per share for 15 out of 30 consecutive trading days, 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 decided to exercise the early redemption rights of "Xinfeng Convertible Bonds" and authorized the management to handle all matters related to the redemption of "Xinfeng Convertible Bonds."
I. Basic Information of Convertible Bonds
(1) Issuance and Listing of Convertible Bonds
With the approval of the China Securities Regulatory Commission on the registration of Sangfor Technologies Inc. to issue convertible bonds to unspecified objects (Zheng Jian Xu Ke [2023] No. 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. With the approval of the Shenzhen Stock Exchange, the convertible bonds were listed for trading on August 18, 2023, under the name "Xinfeng Convertible Bonds" and the 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 of the convertible bonds (February 2, 2024) until the maturity date of the convertible bonds (July 26, 2029).