Core Viewpoint - Xtep International (01368.HK) has successfully completed the repurchase of all conditions stipulated in the transaction agreement, with the repurchase finalized on February 6, 2026, involving a total principal amount of HKD 500 million for the 2025 convertible bonds, representing 100% of the initial principal amount of the bonds [1] Group 1 - The total principal amount of the repurchased bonds is HKD 500 million [1] - The repurchase accounts for 100% of the initial principal amount of the 2025 convertible bonds [1] - The company has instructed HSBC to arrange for the cancellation of the repurchased bonds [1]

Group 1 - The company announced that as of the publication date, the outstanding principal of the 2025 convertible bonds is HKD 500 million, which can be converted into approximately 83.19 million shares at an adjusted conversion price of HKD 6.01 per share [1] - On January 30, 2026, the company entered into an agreement with the dealer to assist in collecting the intentions of bondholders willing to sell their 2025 convertible bonds back to the company [1] - Bondholders accepting the buyback offer will receive a buyback price equivalent to 100.50% of the total principal amount of the 2025 convertible bonds, along with any accrued unpaid interest [1] Group 2 - On January 30, 2026, the company entered into a subscription agreement for convertible bonds, under which the dealer conditionally agreed to subscribe for or facilitate the subscription of bonds totaling HKD 500 million [2] - The issue price of the bonds will be 100% of the principal amount, with each bond having a face value of HKD 2 million [2] - Assuming a preliminary conversion price of HKD 6.37 per share, the bonds can be converted into a maximum of approximately 78.49 million new shares, representing about 2.80% of the company's current issued share capital [2]

Core Viewpoint - The company, Xtep International (01368), plans to repurchase its 2025 convertible bonds and simultaneously issue new convertible bonds to extend its debt maturity structure and enhance its capital base [1] Group 1: Bond Repurchase - The company or its subsidiaries may purchase the 2025 convertible bonds at any price in the open market or other means, as per the terms of the bonds [1] - A transaction agent has been appointed to assist in the repurchase process, including collecting expressions of interest from bondholders willing to sell [1] Group 2: New Bond Issuance - The company intends to issue convertible bonds to institutional investors and has appointed an agent to manage the pricing of the new bonds [1] - The final terms of the bond issuance, including size and pricing, will be established before signing a subscription agreement with the agent [1] Group 3: Strategic Benefits - The board believes that the repurchase and issuance of bonds will extend the debt maturity structure and provide additional funding at a lower cost for the repurchase, with any remaining funds used for general corporate purposes [1] - The proposed bond issuance will not cause immediate dilution of existing shareholders' equity and will strengthen the company's capital base, promoting long-term development when the bonds are converted into new shares [1]