Securities Code: 300569
Bond Code: 123071
Securities Abbreviation: Tianneng Heavy Industry
Bond Abbreviation: Tianneng Convertible Bond
Announcement No.: 2026-052
Qingdao Tianneng Heavy Industry Co., Ltd.
Announcement on the Expected Triggering of Downward Adjustment Conditions for the Conversion Price of "Tianneng Convertible Bonds"
The Company and all members of the Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and are free from any false representations, misleading statements, or material omissions.
Special Notice:
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Securities Code: 300569
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Bond Code: 123071
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Conversion Price: RMB 6.68 per share
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Conversion Period: April 27, 2021 to October 20, 2026
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Qingdao Tianneng Heavy Industry Co., Ltd. (hereinafter referred to as the "Company") has experienced five trading days from August 3, 2026, to August 7, 2026, where the closing price of its stock was lower than 90% of the current conversion price. If the closing price of the Company's stock continues to be lower than 90% of the current conversion price, it is expected that the downward adjustment clauses in the "Prospectus for the Issuance of Convertible Corporate Bonds to Unspecified Objects by Qingdao Tianneng Heavy Industry Co., Ltd." (hereinafter referred to as the "Prospectus") may be triggered. If the downward adjustment clause for the conversion price is triggered, the Company will promptly fulfill the subsequent deliberation procedures and information disclosure obligations in accordance with the "Shenzhen Stock Exchange Listed Company Self-Regulatory Supervision Guidelines No. 15 — Convertible Corporate Bonds" and the "Prospectus." Investors are kindly advised to pay attention to investment risks.
I. Basic Information of Convertible Corporate Bonds
(I) Issuance and Listing of Convertible Bonds
With the approval of the China Securities Regulatory Commission's "Document No. 2326 [2020]," Qingdao Tianneng Heavy Industry Co., Ltd. (hereinafter referred to as the "Company") issued 7 million convertible corporate bonds to unspecified objects on October 21, 2020. Each bond has a face value of RMB 100, with a total issuance amount of RMB 700 million. The Company's convertible corporate bonds were listed and traded on the Shenzhen Stock Exchange starting from November 25, 2020, with the bond abbreviation "Tianneng Convertible Bond" and bond code "123071," as approved by the Shenzhen Stock Exchange.
(II) Conversion Period of Convertible Bonds
April 27, 2021 to October 20, 2026.
II. History of Conversion Price Adjustments for Convertible Corporate Bonds
On April 28, 2021, the Company convened the Fourth Meeting of the Fourth Board of Directors, which deliberated and approved the "Proposal on the Board of Directors Proposing to Lower the Conversion Price of Convertible Corporate Bonds." On May 18, 2021, the 2020 Annual Shareholders' Meeting deliberated and approved the "Proposal on Lowering the Conversion Price of Convertible Corporate Bonds" with more than two-thirds of the voting rights held by shareholders present at the meeting. On May 19, 2021, the Company convened the Sixth Meeting of the Fourth Board of Directors, which deliberated and approved the "Proposal to Lower the Conversion Price of 'Tianneng Convertible Bond'." The conversion price of "Tianneng Convertible Bond" was lowered to RMB 13.40 per share, effective from May 20, 2021. For details, please refer to the "Announcement on the Company's Downward Adjustment of the Conversion Price of Convertible Corporate Bonds" (Announcement No.: 2021-062) disclosed on the Juchao Information Network.
On June 15, 2021, the Company implemented the 2020 profit distribution. Concurrently, the conversion price of the convertible bond "Tianneng Convertible Bond" was adjusted from RMB 13.40 per share to RMB 7.73 per share. The adjusted conversion price became effective from June 15, 2021 (ex-rights and ex-dividend date). For details, please refer to the "Announcement on the Adjustment of the Conversion Price of Tianneng Convertible Bond" (Announcement No.: 2021-065) disclosed on the Juchao Information Network.