Core Viewpoint - The article discusses various convertible bonds and new stock offerings, highlighting specific actions taken by companies regarding their bonds and the upcoming subscription for a new stock. Group 1: Convertible Bonds - Jineng Convertible Bond: The board proposed a downward adjustment [1] - Yuguang Convertible Bond: No strong redemption [1] - Liancheng Convertible Bond, Bohui Convertible Bond, Yong'an Convertible Bond: Strong redemption [1] - Qiaqia Convertible Bond: No downward adjustment [1] Group 2: New Stock Offerings - Youli Intelligent: New stock subscription on July 29 at the Beijing Stock Exchange [1] - Ber25 Convertible Bond: Recently listed [1] - Tianfulong: New stock subscription on the Shanghai and Shenzhen exchanges [1]

Core Viewpoint - The company has decided not to lower the conversion price of its convertible bonds, despite the stock price being below 85% of the current conversion price for a specified period, reflecting confidence in its future development and intrinsic value [1][6][7] Summary by Sections Convertible Bond Issuance Overview - The company issued a total of 1.34 billion yuan in convertible bonds, with a six-year term, approved by the China Securities Regulatory Commission [1] - The bonds began trading on November 18, 2020, under the name "Qiaqia Convertible Bonds" with the code "128135" [1] Conversion Period and Price Adjustments - The conversion period for the bonds started on April 26, 2021, and will last until the maturity date on October 19, 2026 [2] - The initial conversion price was adjusted from 60.83 yuan/share to 60.03 yuan/share on June 11, 2021, following a cash dividend distribution [2] - Subsequent adjustments were made due to annual dividend distributions, with the conversion price reaching 58.18 yuan/share on June 20, 2023, and further adjustments planned for 2024 [3][4] Downward Price Adjustment Clause - The company has a clause allowing for the conversion price to be lowered if the stock price is below 85% of the conversion price for at least 15 out of 30 consecutive trading days [5] - Any proposed adjustments must be approved by a two-thirds majority of shareholders present at the meeting [5] Decision on Not Lowering Conversion Price - The board of directors decided not to lower the conversion price despite the stock price triggering the adjustment condition, citing confidence in the company's future [6][7] - The period for potential future adjustments will restart from January 28, 2026, if the conditions are met again [7]

Core Viewpoint - The company is expected to trigger the condition for a downward adjustment of the conversion price for its convertible bonds, "Qiaqia Convertible Bonds," due to the stock price being below 85% of the current conversion price for a significant number of trading days [1][7]. Group 1: Convertible Bond Issuance Overview - The company issued a total of 1.34 billion yuan in convertible bonds, with a term of six years, approved by the China Securities Regulatory Commission [2]. - The bonds began trading on November 18, 2020, and the conversion period started on April 26, 2021, lasting until the maturity date of October 19, 2026 [2]. Group 2: Conversion Price Adjustments - The initial conversion price was set at 60.83 yuan per share, which was adjusted to 60.03 yuan per share on June 11, 2021, following a cash dividend distribution [2]. - Subsequent adjustments were made due to annual dividend distributions, with the conversion price changing to 59.18 yuan on June 22, 2022, and further to 58.18 yuan on June 20, 2023, and then to 57.19 yuan on June 20, 2024 [3][4]. Group 3: Downward Adjustment Conditions - The company’s board has the authority to propose a downward adjustment of the conversion price if the stock price is below 85% of the current conversion price for at least 15 out of 30 consecutive trading days [5][7]. - The current period for assessing this condition began on July 7, 2025, and as of July 18, 2025, the stock price has been below the threshold for ten trading days [7]. Group 4: Future Considerations - If the company decides to adjust the conversion price, it will announce the decision through designated media, including the adjustment magnitude and relevant dates [6]. - The next assessment period for triggering a downward adjustment will restart from July 7, 2025, if the condition is met again within six months [6].

Core Points - The company has announced its 2024 annual profit distribution plan, which was approved at the shareholders' meeting on May 16, 2025 [2] - The total share capital for profit distribution will exclude repurchased shares, and the remaining distributable profits will be carried forward to the next year [2][5] - The cash dividend for every 10 shares will be 9.826755 yuan, calculated based on the actual cash dividend total divided by the total share capital [5] Summary by Sections Profit Distribution Plan - The profit distribution plan for 2024 includes no bonus shares or capital reserve transfers, with profits carried forward if the share capital changes before implementation [2] - The cash dividend distribution will be adjusted based on the total share capital excluding repurchased shares [2][5] Key Dates - The record date for the profit distribution is June 19, 2025, and the ex-dividend date is June 20, 2025 [3] Distribution Method - Cash dividends will be directly credited to shareholders' accounts through their custodial securities companies on the ex-dividend date [3] Adjustments to Convertible Bonds - Following the profit distribution, the conversion price of the company's convertible bonds will be adjusted from 56.91 yuan to 55.93 yuan per share, effective June 20, 2025 [4] - The repurchase price limit for shares will also be adjusted from 47.19 yuan to 46.21 yuan per share, effective the same date [4] Consultation Information - The company’s securities department is available for inquiries regarding the profit distribution [5]

Core Viewpoint - The company announces a temporary suspension of the conversion of its convertible bonds during the implementation of its 2024 annual equity distribution, with specific dates for the suspension and resumption of conversion [1][2]. Group 1: Convertible Bond Details - The convertible bond code is 128135, and the bond name is "洽洽转债" [1]. - The conversion period for the bonds is from April 26, 2021, to October 19, 2026 [1]. - The suspension of conversion will occur from June 4, 2025, until the equity distribution registration date for the 2024 annual distribution [1]. Group 2: Equity Distribution Impact - The company will adjust the conversion price of the bonds according to the provisions in the bond issuance prospectus when equity changes occur, such as stock dividends or cash dividends [3][4]. - The adjustment formulas for the conversion price are specified for various scenarios, including stock dividends, capital increases, and cash dividends [3]. Group 3: Communication and Compliance - The company will publish announcements regarding the adjustment of the conversion price and the suspension period in designated media as required by regulatory authorities [4]. - The adjustments will be made in a fair and just manner to protect the rights of convertible bondholders [4].

Meeting Overview - The annual general meeting of shareholders for Qiaqia Food Co., Ltd. was held on May 16, 2025, with both on-site and online voting options available [1][2] - A total of 419 shareholders attended, representing 53,352,313 shares, which is 10.8374% of the total voting shares [1] Voting Results - The meeting saw significant participation from minority shareholders, with 381 voting online, representing 37,139,281 shares, or 7.5441% of the total voting shares [2] - The proposals presented at the meeting were approved with overwhelming support, including: - The 2024 Annual Report, approved by 99.7748% of the votes [3] - The 2024 Board of Directors' Work Report, approved by 99.7744% of the votes [3] - The 2024 Supervisory Board's Work Report, approved by 99.7746% of the votes [4] - The 2024 Financial Settlement Report, approved by 99.7754% of the votes [4] - The 2024 Profit Distribution Plan, approved by 99.8096% of the votes [5] - The Special Report on the Use of Raised Funds, approved by 99.7751% of the votes [6] - The reappointment of the auditing firm for 2025, approved by 99.7337% of the votes [7] - The proposal to use idle raised funds for cash management, approved by 99.7685% of the votes [8] - The proposal for investment management using self-owned funds, approved by 98.6235% of the votes [9] - The application for a comprehensive credit limit for 2025, approved by 99.7270% of the votes [9] - The amendment to the company's articles of association, approved by 99.7718% of the votes [9] Legal Compliance - The meeting was witnessed by lawyers from Shanghai Tongli Law Firm, confirming that the meeting's procedures complied with relevant laws and regulations [9]