天津友发钢管集团股份有限公司关于不提前赎回“友发转债”的公告

Core Viewpoint - Tianjin Youfa Steel Pipe Group Co., Ltd. has decided not to exercise the early redemption rights for its convertible bonds, despite meeting the conditions for redemption based on stock price performance [2][11]. Group 1: Convertible Bond Redemption - From January 27, 2026, to February 24, 2026, the company's stock price met the condition of closing at least 130% of the current conversion price for 15 out of 30 consecutive trading days, triggering the conditional redemption clause for the "Youfa Convertible Bonds" [2][10]. - The board of directors held a meeting on February 24, 2026, and unanimously decided not to exercise the early redemption rights for the "Youfa Convertible Bonds" [11][19]. - The company will not exercise the early redemption rights for the next three months (February 25, 2026, to May 24, 2026), even if the redemption conditions are triggered again [11][19]. Group 2: Convertible Bond Issuance and Terms - The company issued 20 million convertible bonds with a total value of 2 billion yuan, with a maturity of six years starting from March 30, 2022 [2][3]. - The initial conversion price was set at 9.39 yuan per share, which has been adjusted multiple times, with the latest price being 4.77 yuan per share [3][4]. - The bond's redemption terms allow the company to redeem the bonds if the total amount of unconverted bonds falls below 30 million yuan [9]. Group 3: Board Meeting and Decisions - The fifth board meeting was held on February 24, 2026, with all eight directors present, and the meeting complied with legal and regulatory requirements [16][17]. - The board approved the proposal to waive the advance notice requirement for the meeting [18]. - The decision regarding the non-exercise of early redemption rights was made after careful consideration of the current market conditions and the company's situation [11][19].