Securities Code: 301059
Bond Code: 123273
Securities Abbreviation: Sanjiang
Bond Abbreviation: Sanjiang Convertible Bonds
Announcement No.: 2026-047
Sanjiang (Zhaoqing) Silicon Material Co., Ltd.
Announcement on Not Lowering the Conversion Price of "Sanjiang Convertible Bonds"
The Company and all members of the Board of Directors guarantee the content of the information disclosure is true, accurate, and complete, and there are no false records, misleading statements, or major omissions.
Special Reminder:
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From June 18, 2026, to July 14, 2026, the closing price of the Company's stock appeared to be below 85% of the current conversion price for at least fifteen trading days within any consecutive thirty trading days. This has triggered the downward adjustment clause for the conversion price of "Sanjiang Convertible Bonds."
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On July 14, 2026, the Company held the fifth meeting of the third Board of Directors, which deliberated and passed the "Proposal on Not Lowering the Conversion Price of 'Sanjiang Convertible Bonds'." Connected directors Mr. Zhao Guofa, Ms. Ren Zhenxue, and Mr. Wang Xianwei abstained from voting. As the number of non-connected directors attending the board meeting was less than three, in accordance with the Company's Articles of Association, the Board of Directors could not form an effective resolution on this proposal. Therefore, the Board of Directors decided to submit this proposal directly to the Company's shareholders' meeting for deliberation. The Board of Directors requests the shareholders' meeting to authorize the Board of Directors, for a period of 6 months from the next trading day after the shareholders' meeting deliberates and passes the proposal (i.e., from July 31, 2026, to January 30, 2027), not to propose a downward adjustment plan if the downward adjustment clause for the conversion price of "Sanjiang Convertible Bonds" is triggered again. The period for triggering the next conversion price adjustment condition will be recalculated from January 31, 2027. If the downward adjustment clause for the conversion price of "Sanjiang Convertible Bonds" is triggered again, the Company will convene another Board of Directors meeting to deliberate whether to exercise the downward adjustment right for the conversion price of "Sanjiang Convertible Bonds."