Summary of Key Points Core Viewpoint - The announcement details the conversion results of the "Changji Convertible Bonds" and the changes in the company's share capital as of June 30, 2025, highlighting the limited conversion activity and the remaining unconverted bond amount. Group 1: Convertible Bond Issuance and Conversion - The company issued 8 million convertible bonds with a total value of 800 million RMB, each with a face value of 100 RMB, which began trading on May 13, 2020 [2] - The initial conversion price was set at 8.31 RMB per share, later adjusted to 8.11 RMB and subsequently to 7.91 RMB [3][4] - As of June 30, 2025, a total of 942,100 RMB worth of bonds had been converted into 140,967 shares, representing 0.0190% of the total shares issued prior to conversion [1] Group 2: Remaining Convertible Bonds - As of June 30, 2025, the unconverted amount of "Changji Convertible Bonds" stood at 604,988,500 RMB, accounting for 75.6236% of the total issuance [1] - The company has made several adjustments to the conversion price, with the latest adjustment setting it at 5.30 RMB per share effective from September 18, 2024 [4] Group 3: Share Capital Changes - The total number of shares before the conversion was 271,736,100, which remained unchanged during the period from April 1, 2025, to June 30, 2025 [5] - The unlimited circulation shares increased by 377 shares, resulting in a total of 470,288,011 shares [5]

Group 1: Company Overview and Strategy - The company positions itself as a full-industry chain platform for the utilization of agricultural and forestry biomass resources in the A-share market [3] - Development strategy focuses on high-efficiency, low-emission thermal power projects primarily based on non-subsidy income, while also transitioning towards energy and material utilization [3] - In 2024, the company achieved its second-highest revenue since listing, with operating cash flow reaching a five-year high, and a 15% year-on-year increase in non-subsidy income [3] Group 2: Business Goals and Innovations - For 2025, the company aims for significant breakthroughs in non-electric business scale and revenue, targeting double-digit annual growth in non-subsidy income [3] - Plans to enhance operational quality through market-oriented circular economy initiatives and innovative financial tools to optimize asset structure [3] - The company is exploring artificial intelligence applications in thermal power control and carbon emission data verification to accelerate technological innovation and commercialization [3] Group 3: Investor Relations and Risk Management - The company acknowledges uncertainties in future operational environments and capital markets, emphasizing that these do not constitute performance commitments to investors [4] - In response to investor inquiries, the company is increasing investments in heating infrastructure for biomass projects and testing new heating models to expand service reach [4] - The company has completed a 49% equity change in Beijing Zhongke Xinkong Big Data Co., Ltd., aiming to collaborate on smart upgrades and deepening circular economy initiatives [5] Group 4: Financial Management and Debt Strategy - The company is preparing sufficient funding strategies to address the upcoming maturity of the "Changji Convertible Bond" within a year, including cash recovery from project sales [6] - The company plans to transition older projects towards combined heat and power generation models to maintain profitability after subsidy expiration [6]

Core Points - The company announced the results of the convertible bond conversion and changes in share capital for the first quarter of 2025 [1][2] - As of March 31, 2025, a total of RMB 940,100.00 of the "Changji Convertible Bonds" has been converted into 140,590 shares, representing 0.0190% of the total shares issued before conversion [1][2] - The remaining unconverted amount of "Changji Convertible Bonds" is RMB 604,990,500.00, accounting for 75.6238% of the total issuance [1][2] Convertible Bond Issuance Overview - The company issued 8 million convertible bonds at a face value of RMB 100 each, totaling RMB 800 million, which began trading on May 13, 2020 [2] - The initial conversion price was set at RMB 8.31 per share, which was adjusted to RMB 8.11 on June 3, 2020, and further adjusted to RMB 7.91 on April 30, 2021 [2][3] Share Capital Changes - From January 1, 2025, to March 31, 2025, the number of shares reduced due to conversion was recorded, with specific details on the changes in share capital provided [4][5] - The total number of shares before the conversion was 271,736,100, with no changes in the restricted shares, while the unrestricted shares increased by 57,354, resulting in a total of 470,287,634 unrestricted shares [5] Additional Information - The company provided a contact number for investor inquiries regarding the announcement [6]

Core Points - The company Guangdong Changqing (Group) Co., Ltd. will pay the fifth-year interest on its convertible bonds "Changji Convertible Bonds" on April 9, 2025, at a rate of 1.80% for the period from April 9, 2024, to April 8, 2025 [1][2][5] - The interest payment for every 10 bonds (face value of 1,000 RMB each) will be 18.00 RMB (including tax) [1][5] - The bondholders must hold the bonds until the registration date of April 8, 2025, to receive the interest [1][2] Bond Details - The bond was issued on April 9, 2020, with a total of 8 million bonds [1][2] - The interest rates for the first five years are as follows: 0.40% for the first year, 0.60% for the second year, 1.00% for the third year, 1.50% for the fourth year, 1.80% for the fifth year, and 2.00% for the sixth year [1][2] - The company has a credit rating of AA- with a stable outlook for the bonds [4][5] Taxation Information - Individual bondholders will have a 20% tax withheld on the interest income, resulting in a net payment of 14.40 RMB for every 10 bonds [5][6] - Qualified foreign institutional investors (QFII and RQFII) are exempt from this tax, receiving the full 18.00 RMB [5][7] - Other bondholders are responsible for their own tax payments on the interest income [6][7] Payment Process - The company will entrust China Securities Depository and Clearing Corporation Limited (Shenzhen Branch) to handle the interest payments [6] - Payments will be made through designated bank accounts to the respective securities firms or institutions chosen by the bondholders [6] Contact Information - For inquiries, the company’s securities department can be contacted at Guangdong Province, Zhongshan City, Xiaolan Industrial Avenue South No. 42, with phone number 0760-22583660 [7]