Core Viewpoint - The announcement details the ninth notice regarding the optional redemption of the "Shanbo Convertible Bonds" by holders, highlighting the conditions and procedures for exercising this right [1][2]. Redemption Terms - Redemption Price: 100.30 RMB per bond (including current interest) [2][10] - Holders can choose to redeem part or all of their unconverted bonds, and this redemption is not mandatory [2][7]. - If holders do not exercise their redemption rights during the specified period, they will lose the right to redeem for the current interest year [2][4]. Conditions for Redemption - The redemption clause is activated if the company's stock price falls below 70% of the conversion price for any consecutive 30 trading days [2][3]. - The redemption period is set from January 8, 2026, to January 14, 2026, with funds to be disbursed on January 19, 2026 [3][11]. Interest Calculation - The current interest for the redemption is calculated based on a 1.8% annual interest rate for the period from November 8, 2025, to January 8, 2026, resulting in approximately 0.30 RMB per bond [6][5]. Redemption Process - Holders must submit their redemption requests through the Shanghai Stock Exchange trading system during the specified period, and once confirmed, these requests cannot be revoked [8][9]. - The bonds will continue to trade during the redemption period but will not be convertible [13]. Post-Redemption Trading - If the total face value of the bonds after redemption falls below 30 million RMB, the bonds will still continue to trade until the end of the redemption period [13].

Core Viewpoint - The company announces the terms for the repurchase of its convertible bonds, "Shanbo Convertible Bonds," allowing holders to sell back part or all of their unconverted bonds under specific conditions [1][2]. Group 1: Repurchase Terms - Holders of "Shanbo Convertible Bonds" can choose to repurchase their bonds at a price of 100.30 RMB per bond, which includes accrued interest [3][5]. - The repurchase period is set from January 8, 2026, to January 14, 2026, with funds to be disbursed on January 19, 2026 [9][10]. - The repurchase right is conditional; if the stock price falls below 70% of the conversion price for 30 consecutive trading days, bondholders can exercise this right [2][3]. Group 2: Interest Calculation - The interest for the repurchase is calculated based on a rate of 1.8% for the fifth year, resulting in approximately 0.30 RMB per bond for the period from November 8, 2025, to January 8, 2026 [5][6]. - The formula for calculating accrued interest is provided, ensuring transparency in how the repurchase price is determined [4]. Group 3: Repurchase Process - Bondholders must submit their repurchase requests through the Shanghai Stock Exchange trading system during the specified period, and once confirmed, these requests cannot be revoked [7][8]. - The bonds will continue to trade during the repurchase period but will not be convertible [12]. Group 4: Future Announcements - After the repurchase period concludes, the company will announce the results of the repurchase and its impact on the company [11].

Core Viewpoint - The company announces the right for holders of "Huahai Convertible Bonds" to sell back part or all of their unconverted bonds, with the buyback price set at RMB 100.30 per bond, including accrued interest and tax [1][4]. Group 1: Buyback Terms - Holders of "Huahai Convertible Bonds" can exercise their right to sell back the bonds if the company's stock price remains below 70% of the conversion price for 30 consecutive trading days during the last two interest years of the bond [2]. - The buyback price is calculated to include accrued interest, which for the sixth year at a coupon rate of 2.00% results in a total buyback price of RMB 100.30 per bond [5][10]. - The buyback period is set from December 22, 2025, to December 26, 2025, with funds to be disbursed on December 31, 2025 [4][11]. Group 2: Buyback Process - The buyback is not mandatory; bondholders have the option to choose whether to participate [6]. - Bondholders must submit their buyback requests through the Shanghai Stock Exchange trading system during the specified buyback period [7]. - If a buyback request is not successful on the first day, bondholders can continue to submit requests on subsequent days within the buyback period [8]. Group 3: Trading During Buyback Period - "Huahai Convertible Bonds" will continue to trade during the buyback period but will not allow conversion into shares [13]. - If the total face value of the bonds in circulation falls below RMB 30 million due to buybacks, trading will still continue until the end of the buyback period [13].

Core Viewpoint - The company announced the termination of certain fundraising projects and the permanent allocation of remaining raised funds to supplement working capital during the 2025 second extraordinary general meeting of shareholders and the first bondholders meeting for "HuGong Convertible Bonds" in 2025 [1] Group 1 - The "HuGong Convertible Bonds" will have an additional repurchase clause activated, with a repurchase price of 101.25 yuan per bond (including current interest) [1] - The repurchase period is set from December 30, 2025, to January 7, 2026, with the payment date for repurchase funds on January 12, 2026 [1] - During the repurchase period, the "HuGong Convertible Bonds" will stop converting into shares, and bondholders can choose to repurchase part or all of the unconverted bonds, although this repurchase is not mandatory [1] Group 2 - As of the last trading day before the announcement, the closing price of "HuGong Convertible Bonds" was higher than the repurchase price, indicating that the repurchase may lead to losses for bondholders [1]

Core Viewpoint - The company announces the right for holders of "Huahai Convertible Bonds" to sell back part or all of their unconverted bonds, with a buyback price set at RMB 100.30 per bond, including accrued interest and tax [1][4]. Group 1: Buyback Terms - Holders of "Huahai Convertible Bonds" can exercise their right to sell back the bonds if the company's stock price remains below 70% of the conversion price for 30 consecutive trading days during the last two interest years of the bond [2]. - The buyback price is calculated to include accrued interest, which for the sixth year at a coupon rate of 2.00% results in a total buyback price of RMB 100.30 per bond [5][10]. - The buyback period is set from December 22, 2025, to December 26, 2025, with funds to be disbursed on December 31, 2025 [4][11]. Group 2: Buyback Process - The buyback is voluntary, allowing bondholders to choose whether to participate [6]. - Bondholders must submit their buyback requests through the Shanghai Stock Exchange trading system during the specified buyback period [7]. - If a buyback request is not successful on the first day, bondholders can continue to submit requests on subsequent days within the buyback period [8]. Group 3: Trading During Buyback Period - "Huahai Convertible Bonds" will continue to trade during the buyback period but will not allow conversion into shares [13]. - If the total face value of the bonds in circulation falls below RMB 30 million due to buybacks, trading will still continue until the end of the buyback period [13].

Core Viewpoint - The announcement details the fourth notice regarding the optional redemption of the "Huahai Convertible Bonds," allowing bondholders to sell their bonds back to the company at a specified price under certain conditions [1][2]. Group 1: Redemption Terms - The redemption price is set at 100.30 RMB per bond, which includes accrued interest and tax [2][10]. - Bondholders have the option to redeem part or all of their unconverted convertible bonds, and this redemption is not mandatory [2][6]. - The redemption clause becomes effective if the company's stock price remains below 70% of the conversion price for 30 consecutive trading days [2][3]. Group 2: Redemption Process - The redemption period is from December 22, 2025, to December 26, 2025, during which the bonds will stop being convertible [4][9]. - The payment date for the redeemed bonds is set for December 31, 2025 [11]. - Bondholders must submit their redemption requests through the Shanghai Stock Exchange trading system during the specified redemption period [7][8]. Group 3: Interest Calculation - The accrued interest for the redemption is calculated using the formula: IA = B × i × t / 365, where B is the total face value of the bonds being redeemed, i is the annual coupon rate, and t is the number of days from the last interest payment to the redemption date [5]. - For the sixth year, the coupon rate is 2.00%, and the interest calculated for 54 days is approximately 0.30 RMB per bond, confirming the total redemption price of 100.30 RMB [5][10]. Group 4: Trading During Redemption Period - The "Huahai Convertible Bonds" will continue to trade during the redemption period but will not be convertible [13]. - If the total face value of the bonds in circulation falls below 30 million RMB due to redemptions, trading will continue until the end of the redemption period, after which an announcement will be made [13].

Summary of Key Points Core Viewpoint - The company announces the conditional redemption of its convertible bonds ("万青转债") due to the stock price falling below a specified threshold, allowing bondholders to redeem their bonds at a predetermined price [2][3]. Group 1: Redemption Conditions - The redemption price is set at 101.235 RMB per bond, including interest and tax [1][6]. - The redemption condition is triggered when the company's stock price has been below 70% of the conversion price (5.97 RMB) for 30 consecutive trading days [2][3]. - The redemption period for bondholders is from December 16, 2025, to December 22, 2025 [1][8]. Group 2: Redemption Process - Bondholders must submit their redemption requests through the Shenzhen Stock Exchange during the specified period, and once submitted, requests cannot be canceled [8][9]. - The company will process the redemption payments on December 26, 2025, with funds reaching investors by December 29, 2025 [9][10]. - During the redemption period, the bonds will continue to trade, but conversion into shares will be suspended [11]. Group 3: Interest Calculation - The interest for the redemption is calculated based on the formula: IA = B × i × t / 365, where B is the total face value of the bonds, i is the annual coupon rate (2.30%), and t is the number of days [4][5]. - For the current interest period, the calculated interest amounts to 1.235 RMB per bond [6]. Group 4: Tax Implications - Individual investors will have a 20% tax withheld on interest income, resulting in a net redemption amount of 100.988 RMB per bond [6]. - Qualified foreign institutional investors (QFII and RQFII) are exempt from corporate income tax and value-added tax, receiving the full redemption amount [6]. Group 5: Announcement and Reporting - The company will publish daily reminders regarding the redemption process until the end of the redemption period [7]. - After the redemption period, the company will announce the results and the impact of the redemption on its financials [10].

Core Viewpoint - The company announces the conditional redemption of its convertible bonds, "Wanqing Convertible Bonds," due to the stock price falling below a specified threshold, allowing bondholders to redeem their bonds at a predetermined price [2][3]. Redemption Overview - The redemption condition is triggered when the company's stock price has been below 70% of the conversion price (5.97 CNY) for 30 consecutive trading days [2][3]. - Bondholders can redeem their bonds at a price of 101.235 CNY per bond, which includes accrued interest [6]. Redemption Conditions - The redemption rights can be exercised once during the last two interest years if the conditions are met [3]. - If bondholders do not exercise their redemption rights during the specified period, they forfeit the right for that interest year [3]. Redemption Price Calculation - The accrued interest (IA) is calculated using the formula: IA = B × i × t / 365, where B is the total face value of the bonds, i is the annual coupon rate (2.30%), and t is the number of days [4][5]. - For the current interest period, the accrued interest amounts to 1.235 CNY per bond, leading to a total redemption price of 101.235 CNY [6]. Redemption Process and Payment - The redemption announcement will be published daily during the redemption period, which runs from December 16 to December 22, 2025 [7]. - Bondholders must submit their redemption requests through the Shenzhen Stock Exchange during the specified period [8]. - The payment for redeemed bonds will be processed on December 26, 2025, with funds reaching investors by December 29, 2025 [9]. Trading and Conversion During Redemption Period - The "Wanqing Convertible Bonds" will continue to trade during the redemption period but will not allow conversion into shares [11].

Core Viewpoint - The company is announcing the conditional redemption of its convertible bonds, allowing bondholders to sell back their bonds at a specified price due to the stock price falling below a certain threshold [4][6]. Redemption Overview - The company has triggered the conditional redemption clause for its convertible bonds, allowing holders to sell back their bonds if the stock price has been below 70% of the conversion price for 30 consecutive trading days [4]. - The redemption price is set at 100.236 CNY per bond, which includes accrued interest [3][7]. - The redemption period is from December 2, 2025, to December 8, 2025, during which the bonds will not be convertible [3][10]. Redemption Conditions - The redemption clause is activated if the company's stock price falls below 55.93 CNY (the conversion price) for 30 consecutive trading days during the last two interest periods of the bonds [4]. - The calculation for accrued interest is based on a formula that considers the bond's face value, interest rate, and the number of days since the last interest payment [6]. Redemption Process - Bondholders must declare their intention to redeem during the specified period through the Shenzhen Stock Exchange trading system [10]. - The company will announce the results of the redemption and its impact on the company after the redemption period ends [12]. Payment Details - The payment for the redeemed bonds will be processed through the China Securities Depository and Clearing Corporation, with funds expected to be credited to investors by December 15, 2025 [12].

Group 1 - The company has been approved by the China Securities Regulatory Commission to issue 10,160,000 convertible bonds, raising a total of RMB 1,016,000,000, with a net amount of RMB 1,004,159,622.64 after deducting issuance costs [2][4] - The company has established a special account for the management of the raised funds and signed a four-party supervision agreement with the sponsor and the bank [5][8] - The special account is specifically for the "Shandong Ruilin Polymer Air Separation Supply Project" and must not be used for other purposes [8][9] Group 2 - The company held a board meeting on November 7, 2025, to approve changes to the investment scale of the fundraising project and to use surplus funds for loans to a subsidiary [4][5] - The four-party supervision agreement includes provisions for the management and use of the raised funds, ensuring compliance with relevant laws and regulations [8][10] - The agreement stipulates that the sponsor has the right to supervise the use of the funds and must conduct checks every six months [10][12] Group 3 - The company announced a buyback option for the convertible bonds at a price of RMB 100.38 per bond, including accrued interest [16][22] - The buyback period is from December 3 to December 9, 2025, with funds to be disbursed on December 12, 2025 [19][23] - During the buyback period, the convertible bonds will continue to trade but will not be convertible into shares [25]