Summary of Key Points Core Viewpoint - The announcement details the conversion results of the "Zhonghe Convertible Bonds" into shares of Xinjiang Zhonghe Co., Ltd. for the third quarter of 2025, highlighting the total amount converted and the remaining unconverted bonds. Group 1: Cumulative Conversion Status - As of September 30, 2025, a total of 380,611,000 yuan of "Zhonghe Convertible Bonds" has been converted into 54,533,156 shares, representing 4.04% of the total shares outstanding before conversion as of December 31, 2023 [2][6]. Group 2: Unconverted Bonds - As of September 30, 2025, the amount of unconverted "Zhonghe Convertible Bonds" stands at 994,340,000 yuan, which accounts for 72.32% of the total issued convertible bonds [3][7]. Group 3: Quarterly Conversion Activity - From July 1, 2025, to September 30, 2025, only 5,000 yuan of "Zhonghe Convertible Bonds" was converted into 750 shares, which is negligible at 0.00% of the total shares outstanding before conversion as of December 31, 2023 [4][6]. Group 4: Convertible Bond Issuance Overview - The company issued 13.75 million convertible bonds on July 18, 2023, with a total value of 137,500,000 yuan, and these bonds began trading on August 14, 2023. The conversion period for these bonds is from January 24, 2024, to July 17, 2029 [5]. Group 5: Stock Option Plan Update - For the third quarter of 2025, there were no shares exercised under the 2021 stock option plan, with a total of 0 shares exercised, representing 0% of the total options available [12][15].

Group 1 - The core viewpoint of the announcement is that the Supervisory Board of Xinjiang Zhonghe Co., Ltd. has convened its third meeting of the tenth session to review and approve several key reports and proposals, ensuring compliance with relevant laws and regulations [1][2][3] - The meeting was held on August 26, 2025, with all five supervisors present, confirming the legality and validity of the resolutions made [1] - The Supervisory Board approved the 2025 semi-annual report and its summary, which adheres to the disclosure standards and regulations set forth by relevant authorities [2][3] Group 2 - The Supervisory Board also approved a special report on the storage and actual use of raised funds for the first half of 2025, with unanimous support from all members [3] - Additionally, the Board passed a resolution regarding the cancellation of certain stock options, again with full approval from all supervisors [3]

Group 1 - The company has received approval from the China Securities Regulatory Commission to issue convertible bonds totaling RMB 1,375 million, with a net amount of RMB 1,359.26 million after deducting issuance costs [2][3] - The company plans to change the use of surplus funds from the bond issuance, amounting to RMB 357.20 million, to invest in a project for an annual production of 2.4 million tons of alumina [3][4] - A tripartite supervision agreement has been signed to regulate the management of the raised funds, involving the company, its subsidiary, and the underwriting institution [4][5] Group 2 - The special account for the raised funds has been established, with a balance of RMB 357.61 million as of June 24, 2025, designated solely for the investment in the alumina project [6][7] - The underwriting institution is responsible for ongoing supervision of the fund usage, ensuring compliance with relevant regulations [7][8] - The agreement stipulates that any withdrawal exceeding RMB 50 million or 20% of the net raised funds must be reported to the underwriting institution [8][9]

Core Viewpoint - Yunnan Bowen Technology Co., Ltd. has announced the sale of its convertible bonds held in Xinjiang Zhonghe Co., Ltd., indicating a strategic move based on operational needs and expected positive financial impact from the transaction [1][4][10] Transaction Overview - The company held 500,000 convertible bonds of Xinjiang Zhonghe, accounting for 3.636% of the total issuance [4] - The bonds were sold through a centralized bidding process on the Shanghai Stock Exchange from July 17, 2025, to August 8, 2025, with a total transaction amount of 64.9187 million yuan [4][10] - After deducting initial investment costs and transaction fees, the expected investment gain is approximately 14.0612 million yuan, representing 19.49% of the company's audited net profit for 2024 [4][10] Approval Process - The board of directors approved the proposal to authorize management to dispose of securities investment products on April 18, 2025, with unanimous support [6] - The annual general meeting on May 15, 2025, ratified the management's authority to handle the sale of the convertible bonds, valid for 12 months from the approval date [2][6] Bond Ownership and Transaction Details - The convertible bonds are free from any encumbrances, legal disputes, or restrictions on transfer [7] - The company acquired the bonds on July 18, 2023, using 50 million yuan of its own funds, which was classified as a financial asset measured at fair value [8]

Group 1 - The company holds 500,000 convertible bonds of Xinjiang Zhonghe Co., Ltd., accounting for 3.636% of the total issuance of the bonds [1] - The company plans to reduce its holdings of the convertible bonds through centralized bidding on the Shanghai Stock Exchange from July 17, 2025, to August 8, 2025 [1] - The total transaction amount during the reduction period is expected to be 64.9187 million yuan, with an estimated investment gain of approximately 14.0612 million yuan, representing 19.49% of the company's audited net profit attributable to shareholders for the year 2024 [1] Group 2 - After the completion of the reduction, the company will no longer hold any convertible bonds of Xinjiang Zhonghe [1]

Core Points - The company announced the interest payment schedule for its convertible bonds, "Zhonghe Convertible Bonds," which will begin on July 18, 2025 [1][2] - The total amount of the convertible bonds issued is 1,375 million yuan, with a maturity period of six years from July 18, 2023, to July 17, 2029 [1][2] - The coupon rates for the bonds increase progressively from 0.2% in the first year to 2.0% in the sixth year [1][2] Summary by Sections Convertible Bond Issuance Overview - The company received approval from the China Securities Regulatory Commission to issue convertible bonds totaling 1,375 million yuan [1] - The bonds have a six-year term, with the first coupon rate set at 0.2% for the first year [1][2] Interest Payment Plan - The interest payment for the second year will be calculated at a rate of 0.4%, resulting in a payment of 0.40 yuan per bond (before tax) [4][5] - The interest payment will be made annually, with the payment date set for July 18 each year [3][4] Key Dates for Interest Payment - The bondholders' registration date for interest payment is July 17, 2025 [4] - The ex-dividend date and interest payment date are both set for July 18, 2025 [4] Payment Method - The company has appointed China Securities Depository and Clearing Corporation Limited Shanghai Branch to handle the interest payment process [5][6] - Investors will receive their interest payments through designated institutions, with tax obligations managed by the payment institutions [5][6] Tax Implications - Individual investors are subject to a 20% tax on interest income, resulting in a net payment of 0.32 yuan per bond after tax [5][6] - Non-resident enterprises are exempt from corporate income tax on the interest income from these bonds [6]

Core Viewpoint - The company has approved the 2021 Restricted Stock and Stock Option Incentive Plan, which includes the draft plan and management measures for implementation, as well as the authorization for the board to handle related matters [1][2]. Group 1: Incentive Plan Details - The third phase of the stock option incentive plan allows for a total of 16,528,000 options, with the exercise period from November 29, 2024, to November 14, 2025 [2]. - As of June 30, 2025, no shares have been exercised under the incentive plan, representing 0% of the total options available [3][5]. - The plan includes provisions for the listing and trading of shares acquired through the exercise of options, which can occur on the second trading day after the exercise date [3][4]. Group 2: Shareholder and Capital Structure Changes - The total number of shares before the exercise was 1,376,187,708, and after the exercise, it increased to 1,403,711,261, with no change in the controlling shareholder [6]. - The company did not receive any funds from the exercise of options, and this has no impact on the latest financial report [6][5]. Group 3: Participation and Restrictions - A total of 308 individuals were eligible to exercise options in the third phase, but none participated as of the second quarter of 2025 [4][5]. - If any directors or senior management participate in future exercises, their newly acquired shares will be subject to lock-up and transfer restrictions according to relevant laws [5].

Summary of Key Points Core Viewpoint - The announcement provides an update on the conversion of the "Zhonghe Convertible Bonds" into shares of Xinjiang Zhonghe Co., Ltd, detailing the cumulative conversion amounts and the impact on the company's share capital structure. Group 1: Cumulative Conversion Status - As of June 30, 2025, a total of 380,655,000 yuan of "Zhonghe Convertible Bonds" has been converted into 54,532,406 shares, representing 4.04% of the total shares outstanding before conversion as of December 31, 2023 [1][2] - The amount of "Zhonghe Convertible Bonds" that has not been converted as of June 30, 2025, is 994,345,000 yuan, accounting for 72.32% of the total issued convertible bonds [3] Group 2: Quarterly Conversion Details - From April 1, 2025, to June 30, 2025, 190,512,000 yuan of "Zhonghe Convertible Bonds" was converted into 27,523,553 shares, which is 2.04% of the total shares outstanding before conversion as of December 31, 2023 [2][3] - The total share capital increased from 1,376,187,708 shares to 1,403,711,261 shares due to the conversion [3] Group 3: Shareholder Changes - The major shareholder, Tebian Electric Apparatus Stock Co., Ltd, increased its holdings from 489,116,524 shares (35.54%) to 516,639,644 shares (36.81%) following the conversion [3]

Group 1 - The core announcement is regarding the repurchase results of the "Zhonghe Convertible Bond" by Xinjiang Zhonghe Co., Ltd. [1][2] - The repurchase period is set from June 5, 2025, to June 11, 2025, with a repurchase price of 100.35 yuan per bond (including accrued interest and tax) [2][3] - The total number of valid repurchase applications received is 490 bonds, amounting to 49,171.50 yuan (including accrued interest and tax) [2][3] Group 2 - The repurchase funds will be disbursed on June 16, 2025, and the company has transferred the repurchase funds to the designated account of China Securities Depository and Clearing Corporation Limited, Shanghai Branch [2] - The impact of this repurchase on the company's cash flow, asset status, and equity situation is minimal, as the repurchase amount is relatively small [2] - Unrepurchased "Zhonghe Convertible Bonds" will continue to be traded on the Shanghai Stock Exchange [2]

Core Viewpoint - The announcement details the additional repurchase rights for the "Zhonghe Convertible Bonds" following the approval of changes in fundraising project implementation at the company's shareholder meeting and bondholder meeting [1][2]. Summary by Sections Repurchase Terms and Price - The additional repurchase clause allows bondholders to sell their bonds back to the company at face value plus accrued interest if there are significant changes in the use of raised funds compared to the commitments in the prospectus [1][2]. - The repurchase price is calculated as 100.35 CNY per bond, which includes accrued interest of 0.35 CNY based on a coupon rate of 0.4% for the second year [2][3]. Repurchase Details - The repurchase period is set from June 5, 2025, to June 11, 2025, with funds to be disbursed on June 16, 2025 [3][4]. - During the repurchase period, the "Zhonghe Convertible Bonds" will stop converting into shares but will continue to trade [4][5]. Repurchase Procedure - 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 [4]. - If the total face value of the convertible bonds falls below 30 million CNY due to repurchases, trading will continue until the end of the repurchase period, after which the company will announce the results [5].