Core Viewpoint - Baiyang Pharmaceutical (301015.SZ) disclosed a report regarding the reduction of shares by its controlling shareholder, Baiyang Group, which has triggered a change in shareholding that touches a 5% integer multiple threshold [1][2]. Summary by Sections Share Reduction Plan - Baiyang Group plans to reduce its shareholding by up to 15,768,585 shares, accounting for 3.00% of the total share capital, through centralized bidding and/or block trading from August 12, 2025, to November 11, 2025 [1]. - As of the report date, the reduction plan has not been fully executed [1]. Execution of Share Reduction - From August 12 to August 13, 2025, Baiyang Group reduced its shares by 10,512,390 shares, representing 2.00% of the total share capital through block trading [1]. - From September 11 to November 3, 2025, an additional 1,994,500 shares were reduced through centralized bidding, accounting for 0.38% of the total share capital, leading to a total reduction of 12,506,890 shares [1]. Financial Impact - The average share prices during the reduction period were 26.43 yuan and 28.05 yuan, resulting in a total cash-out amount of approximately 333,788,192.7 yuan [2]. Shareholding Structure - As of the report date, the combined shareholding of the information disclosure obligors decreased to 394,218,110 shares, representing 75.00% of the total share capital, down from 406,725,000 shares, which was 77.46% prior to the reduction [2][3]. - The reduction does not lead to a change in the controlling shareholder or actual controller of the company, nor does it significantly impact the governance structure or future operations of the company [3].

Core Points - The announcement details the conversion of the company's convertible bonds into shares, with a total of 139,601 bonds converted into 519,476 shares by the end of Q2 2025 [1][3] - The current conversion price for the bonds is set at 25.36 RMB per share, following adjustments due to annual profit distribution [2][3] - The total remaining convertible bonds amount to 8,460,399, with a total face value of 84,603.99 million RMB [3][4] Convertible Bond Details - The company issued 8.6 million convertible bonds on April 14, 2023, with a face value of 100 RMB each, raising a total of 8,600 million RMB [1][2] - The initial conversion price was set at 27.64 RMB per share, which has been adjusted multiple times due to profit distributions [2][3] - The conversion period for the bonds is from October 20, 2023, to April 13, 2029 [2] Share Capital Changes - As of March 31, 2025, the total share capital was 525,619,310 shares, which increased to 525,619,476 shares by June 30, 2025, due to the conversion of bonds [4] - The proportion of restricted shares remains at 0.01%, while unrestricted shares account for 99.99% of the total share capital [4]

Group 1 - The China Convertible Bond Index opened up by 0.04% [1] - Kenen Convertible Bond and Bojun Convertible Bond rose over 3% [1] - Jinling Convertible Bond and Baiyang Convertible Bond increased by more than 2% [1] Group 2 - Dongshi Convertible Bond fell by over 3% [1] - Jinjiji Convertible Bond and Mengsheng Convertible Bond declined by more than 1% [1]

Group 1 - The company issued 8.6 million convertible bonds on April 14, 2023, with an initial conversion price of 27.64 CNY per share, which has been adjusted to 26.12 CNY per share as of October 20, 2023 [1] - The conversion price will be adjusted based on specific corporate actions such as stock dividends, capital increases, and cash dividends, following a defined formula [2][3] - The company approved a profit distribution plan for the fiscal year 2024, which includes a cash dividend of 0.7619998 CNY per share, leading to an adjustment of the conversion price to 25.36 CNY per share effective from May 27, 2025 [3][4] Group 2 - The adjusted conversion price reflects the company's commitment to protecting the interests of convertible bondholders during changes in equity structure [3] - The company will announce any adjustments to the conversion price in accordance with relevant laws and regulations, ensuring transparency and fairness [3] - The profit distribution plan is based on a total of 525,619,398 shares, indicating the scale of the company's equity distribution [4]

Core Points - The company has approved a cash dividend distribution plan for the fiscal year 2024, amounting to 7.62 CNY per 10 shares, totaling approximately 400.52 million CNY before tax [1][2] - The total share capital of the company is 525,619,398 shares, and the cash dividend per share is calculated to be approximately 0.762 CNY [1][2] - The dividend distribution will not include stock dividends or capital increases, and adjustments will be made if there are changes in total share capital due to convertible bonds [1][2] Dividend Distribution Details - The cash dividend distribution is set for shareholders registered by May 26, 2025, with the ex-dividend date on May 27, 2025 [2] - The distribution will be directly credited to shareholders' accounts through their custodial securities companies [2] - Different tax rates will apply for various categories of shareholders, with specific provisions for Hong Kong investors and domestic institutional investors [1][2] Adjustments and Notifications - Following the dividend distribution, the conversion price of the company's convertible bonds will be adjusted accordingly [3] - The company has provided contact information for inquiries regarding the dividend distribution [4]