Securities Code: 300967
Bond Code: 123189
Securities Abbreviation: Xiaoming Shares
Bond Abbreviation: Xiaoming Convertible Bond
Announcement Number: 2026-084
Ningxia Xiaoming Animal Husbandry Co., Ltd.
Announcement on the Board of Directors' Proposal to Lower the Conversion Price of "Xiaoming Convertible Bond"
The company and all members of the board of directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and that there are no false records, misleading statements, or significant omissions.
Special Reminder:
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Securities Code: 300967, Securities Abbreviation: Xiaoming Shares
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Bond Code: 123189, Convertible Bond Abbreviation: Xiaoming Convertible Bond
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Conversion Price: 19.09 RMB/share
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Conversion Period: October 12, 2023 to April 5, 2029
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From June 22, 2026 to July 13, 2026, the company's stock closing price was below 85% of the current conversion price (i.e., 16.2265 RMB/share) for 15 out of 30 consecutive trading days, triggering the downward adjustment clause for the conversion price.
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On July 13, 2026, the company held the 25th meeting of the Fifth Board of Directors, which deliberated and approved the "Proposal on the Board of Directors' Proposal to Lower the Conversion Price of 'Xiaoming Convertible Bond'". The company's board of directors has decided to lower the conversion price of "Xiaoming Convertible Bond" and will submit this proposal to the company's second extraordinary general meeting of shareholders in 2026 for deliberation by special resolution. Shareholders holding "Xiaoming Convertible Bond" must abstain from voting on this proposal.
I. Basic Information of Convertible Corporate Bonds
(I) Issuance of Convertible Corporate Bonds
Upon the "Approval of the Registration of Ningxia Xiaoming Animal Husbandry Co., Ltd.'s Issuance of Convertible Corporate Bonds to Unspecified Objects" (Securities Regulatory Commission License [2023] No. 253) from the China Securities Regulatory Commission (hereinafter referred to as the "CSRC"), the company was approved for registration. On April 6, 2023, the company issued 3,290,000 convertible corporate bonds to unspecified objects, with a face value of RMB 100 per bond. The total amount raised was RMB 329,000,000.00. After deducting related issuance expenses totaling RMB 5,040,950.00, the net proceeds from the issuance were RMB 323,959,050.00. The receipt of these proceeds was verified by Xinyonghe Certified Public Accountants (Special General Partnership), who issued the "Capital Verification Report" XYZH/2023YCAA1F0099 on April 13, 2023.
(II) Listing of Convertible Corporate Bonds
With the approval of the Shenzhen Stock Exchange, the company's convertible bonds were listed and traded on the Shenzhen Stock Exchange starting from April 25, 2023, with the bond abbreviation "Xiaoming Convertible Bond" and bond code "123189".
(III) Conversion Period of Convertible Corporate Bonds
The conversion period for this convertible corporate bond is from the first trading day after six months from the end of the convertible bond issuance date (April 12, 2023), which is October 12, 2023, to the maturity date of the convertible bond (April 5, 2029).
(IV) Adjustment of Conversion Price of Convertible Corporate Bonds
According to the relevant clauses of the "Prospectus for the Issuance of Convertible Corporate Bonds to Unspecified Objects by Ningxia Xiaoming Animal Husbandry Co., Ltd." (hereinafter referred to as the "Prospectus") and the relevant regulations of the CSRC on the issuance of convertible corporate bonds, the conversion period for this convertible bond is from the first trading day after six months from the end of the convertible bond issuance date (April 12, 2023), which is October 12, 2023, to the maturity date of the convertible bond (April 5, 2029). The initial conversion price of the convertible bond was RMB 19.43 per share.