Securities Code: 300775 Bond Code: 123114 Securities Abbreviation: San Guai Defense Bond Abbreviation: San Guai Convertible Announcement Number: 2026-048 Xi'an San Guai Defense Co., Ltd. Announcement on the Board of Directors' Proposal to Lower the Conversion Price of "San Guai Convertibles"
The Company and all members of the Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and are free from false records, misleading statements, or material omissions.
Special Reminder:
- As of June 15, 2026, Xi'an San Guai Defense Co., Ltd. (hereinafter referred to as the "Company") has experienced a situation where the closing price of its stock has been below 85% of the current conversion price for at least fifteen trading days within any consecutive thirty trading days, triggering the downward adjustment clause for the conversion price of "San Guai Convertibles."
- On June 15, 2026, the Company held the eighth meeting of the fourth Board of Directors, which deliberated and approved the "Proposal on the Board of Directors' Proposal to Lower the Conversion Price of 'San Guai Convertibles'." This proposal needs to be submitted to the Company's first extraordinary general meeting of shareholders in 2026 for deliberation and approval by more than two-thirds of the voting rights held by shareholders (including shareholder representatives) attending the meeting. Shareholders holding "San Guai Convertibles" as related parties shall abstain from voting.
I. Basic Information on Convertible Corporate Bonds (I) Basic Information on the Issuance and Listing of Convertible Bonds
Approved by the China Securities Regulatory Commission (CSRC) with Permit No. [2021] 1352, Xi'an San Guai Defense Co., Ltd. publicly issued 9,043,727 convertible corporate bonds (hereinafter referred to as "convertible bonds") to unspecified targets, with a face value of RMB 100 per bond, raising a total of RMB 904,372,700. The Company's convertible bonds were listed and traded on the Shenzhen Stock Exchange on June 11, 2021, with the bond abbreviation "San Guai Convertible" and bond code "123114." According to the "Shenzhen Stock Exchange ChiNext Stock Listing Rules" and the "Prospectus," the conversion period for "San Guai Convertibles" starts from the first trading day six months after the issuance of the convertible bonds ends (May 31, 2021) until the maturity date of the convertible corporate bonds, which is from November 30, 2021, to May 24, 2027.
(II) Adjustment or Amendment of Convertible Bond Conversion Price The initial conversion price of "San Guai Convertibles" was RMB 31.82 per share. The adjustment of the conversion price is as follows: