Summary of Key Points Core Viewpoint - The announcement addresses the abnormal trading fluctuations of the convertible bond "Tianlu Convertible Bond" issued by Tibet Tianlu Co., Ltd, highlighting significant price changes and the company's operational status. Group 1: Convertible Bond Issuance and Trading - The company issued 10,869,880 convertible bonds on October 28, 2019, with a total amount of RMB 108,698.80 million and a maturity of 6 years [1] - The initial conversion price was set at RMB 7.24 per share, which has been adjusted to RMB 4.17 per share due to various corporate actions [1] - The "Tianlu Convertible Bond" experienced a cumulative price increase of over 30% on July 21 and July 22, 2025, indicating abnormal trading activity [2] Group 2: Company Operational Status - The company confirmed that its production and operational conditions are normal, with no significant changes in the internal or external business environment [2] - There are no undisclosed major events or information that could impact the company's stock or bond prices, as verified by the company and its controlling shareholder [3] Group 3: Financial Performance - The company anticipates a net loss of between RMB 11,500 million and RMB 7,700 million for the first half of 2025, indicating a decline compared to the previous year [4] - The company has committed to adhering to legal and regulatory requirements for information disclosure [4] Group 4: Board Confirmation - The board of directors confirmed that there are no undisclosed matters that should be reported according to the Shanghai Stock Exchange regulations [4]

Core Viewpoint - The announcement highlights the abnormal trading fluctuations of the convertible bond "塞力转债," which experienced a cumulative price increase of over 30% over three consecutive trading days, prompting a disclosure to investors regarding potential valuation risks [2][8]. Group 1: Convertible Bond Trading Situation - "塞力转债" recorded a closing price of 175.078 yuan per bond as of July 3, 2025, representing a premium of 75.08% over the face value and a conversion premium rate of 9.65% [2][8]. - The bond experienced a cumulative price increase of over 30% from July 1 to July 3, 2025, qualifying as an abnormal trading situation under the Shanghai Stock Exchange regulations [2][8]. Group 2: Company Operations and Major Events - The company confirmed that its production and operational activities are normal, with no significant changes in market conditions or industry policies that could affect the bond's trading price [9]. - There are no undisclosed major events related to asset restructuring, share issuance, or significant transactions that could impact the company's stock or bond prices [10]. Group 3: Share Pledge and Control - The controlling shareholder,赛海科技, holds 21,642,540 shares, representing 11.33% of the total share capital, and has recently unpledged 6,700,000 shares while pledging 6,000,000 shares, resulting in a total of 15,100,000 shares pledged [19][20]. - The actual controller, 温伟, holds 9,634,208 shares, representing 5.04% of the total share capital, and has similarly unpledged 3,850,000 shares while pledging 3,000,000 shares, leading to a total of 8,300,000 shares pledged [20].