Shandong Heda Group Co., Ltd. Announcement on the Conversion of Convertible Bonds in the First Quarter of 2026

MaticHoleFiller

2026-04-08 08:37:55

Security Code: 002810 Security Abbreviation: Shandong Heda Announcement No.: 2026-013

Bond Code: 127088 Bond Abbreviation: Heda Convertible Bonds

Shandong Heda Group Co., Ltd.

Announcement on the Conversion of Heda Convertible Bonds into Shares in the First Quarter of 2026

The Company and all members of the Board of Directors warrant that the information disclosed in this announcement is true, accurate, and complete, and that there are no false records, misleading statements, or material omissions.

Special Notice:

Security Code: 002810 Security Abbreviation: Shandong Heda

Bond Code: 127088 Bond Abbreviation: Heda Convertible Bonds

Conversion Price: RMB 16.76 per share

Conversion Start Date: from January 8, 2024 to July 2, 2029

Pursuant to the provisions of the Shenzhen Stock Exchange Listing Rules, as well as relevant provisions including Shenzhen Stock Exchange Self-Regulatory Guidance No. 15—Convertible Corporate Bonds, Shandong Heda Group Co., Ltd. (hereinafter referred to as the “Company”) hereby announces the conversion of Heda Convertible Bonds and changes in the Company’s shares in the first quarter of 2026 as follows:

I. Overview of the issuance and listing of the convertible bonds

Pursuant to the China Securities Regulatory Commission’s Reply on Approving Shandong Heda Group Co., Ltd.’s Application for Registration of Issuance of Convertible Corporate Bonds to Non-Specific Investors (Securities Regulatory Permit〔2023〕No. 1099), the Company publicly issued 6M convertible bonds on July 3, 2023, with a par value of RMB 100 per bond. The total issuance amount was RMB 600,000.00 thousand yuan, with a term of 6 years. With the approval of the Shenzhen Stock Exchange (hereinafter referred to as the “SZSE”), these convertible bonds began listing and trading on the SZSE from July 19, 2023. The bond abbreviation is “Heda Convertible Bonds,” and the bond code is “127088.”

Pursuant to the Convertible Corporate Bonds Offering Prospectus of Shandong Heda Group Co., Ltd. to Non-Specific Investors (hereinafter referred to as the “Offering Prospectus”) and other relevant provisions, the conversion period of the convertible bonds starts from the first trading day after six months from the date of completion of issuance of the convertible bonds (January 8, 2024) and ends on the maturity date of the convertible bonds (July 2, 2029).

II. Adjustment to the conversion price of the convertible bonds

Pursuant to relevant provisions and the agreement in the Offering Prospectus, the initial conversion price of “Heda Convertible Bonds” is RMB 17.40 per share.

Pursuant to the resolution of the Company’s fifth extraordinary general meeting of shareholders in 2023, the Company repurchased and cancelled restricted shares of 413,000 shares that had been granted to 29 incentive recipients but had not yet had their restrictions lifted. The Shenzhen Branch of China Securities Depository and Clearing Co., Ltd. completed the repurchase and cancellation of the above portion of restricted shares on March 6, 2024. The Company’s total share capital was adjusted from 342,112,040 shares to 341,699,040 shares (excluding the impact of convertible bond conversion). After completion of the repurchase and cancellation, the conversion price of “Heda Convertible Bonds” was adjusted from RMB 17.40 per share to RMB 17.39 per share. The date on which the conversion price adjustment became effective was March 7, 2024.

For details, please refer to the Company’s announcement dated March 7, 2024 in 《China Securities Journal》《Securities Times》《Shanghai Securities News》《Securities Daily》and Jucheng Information Net (

Pursuant to the resolution of the Company’s annual general meeting of shareholders in 2023, the Company’s 2023 profit distribution plan is: based on the Company’s existing total share capital of 341,704,139 shares, distribute a cash dividend of RMB 2.00 per 10 shares to all shareholders (including tax).

Pursuant to the relevant terms for adjusting the conversion price of convertible corporate bonds, the conversion price of “Heda Convertible Bonds” was adjusted from RMB 17.39 per share to RMB 17.19 per share. The date on which the conversion price adjustment became effective was July 5, 2024.

For details, please refer to the Company’s announcement dated July 1, 2024 in 《China Securities Journal》《Securities Times》《Shanghai Securities News》《Securities Daily》and Jucheng Information Net (

The Company’s 14th meeting of the ninth session of the Board of Directors and the 2024 second extraordinary general meeting of shareholders approved the resolution on “The Company’s〈Third Tranche Stock Option and Restricted Stock Incentive Plan (Draft)〉and its Summary” (hereinafter referred to as the “Third Tranche Incentive Plan”). The Company’s 16th meeting of the ninth session of the Board of Directors approved the resolutions on “Adjusting matters related to the Third Tranche Stock Option and Restricted Stock Incentive Plan” and “Granting stock options and restricted stocks to incentive recipients under the Third Tranche Stock Option and Restricted Stock Incentive Plan.” After that, the grant registration of the shares was completed with the Shenzhen Branch of China Securities Depository and Clearing Co., Ltd. In total, 6.43M shares were granted to 116 incentive recipients, and the grant price was RMB 6.66 per share.

After completion of the registration for the above restricted shares, the conversion price of “Heda Convertible Bonds” was adjusted from RMB 17.19 per share to RMB 17.00 per share. The date on which the conversion price adjustment became effective was November 28, 2024.

For details, please refer to the Company’s announcement dated November 27, 2024 in 《China Securities Journal》《Securities Times》《Shanghai Securities News》《Securities Daily》and Jucheng Information Net (

Pursuant to the resolution of the Company’s 2024 third extraordinary general meeting of shareholders, the Company’s profit distribution plan for the first three quarters of 2024 is: based on the Company’s existing total share capital of 348,136,854 shares, distribute a cash dividend of RMB 1.50 per 10 shares to all shareholders (including tax).

Pursuant to the relevant terms for adjusting the conversion price of convertible corporate bonds, the conversion price of “Heda Convertible Bonds” was adjusted from RMB 17.00 per share to RMB 16.85 per share. The date on which the conversion price adjustment became effective was January 3, 2025.

For details, please refer to the Company’s announcement dated December 26, 2024 in 《China Securities Journal》《Securities Times》《Shanghai Securities News》《Securities Daily》and Jucheng Information Net (

Pursuant to the authorization by the Company’s annual general meeting of shareholders in 2024 and resolutions adopted by the Company’s 25th meeting of the ninth session of the Board of Directors, the Company’s interim profit distribution plan for 2025 is: based on the total share capital of 348,136,913 shares as of the date of the announcement on implementation of dividend distributions, less 1,777,102 shares held in the Company’s share repurchase special securities account, which equals 346,359,811 shares; distribute a cash dividend of RMB 1.00 per 10 shares to all shareholders (including tax).

Pursuant to the relevant terms for adjusting the conversion price of convertible corporate bonds, the conversion price of “Heda Convertible Bonds” was adjusted from RMB 16.85 per share to RMB 16.75 per share. The date on which the conversion price adjustment became effective was September 17, 2025.

For details, please refer to the Company’s announcement dated September 11, 2025 in 《China Securities Journal》《Securities Times》《Shanghai Securities News》《Securities Daily》and Jucheng Information Net (

The Company’s 26th meeting of the ninth session of the Board of Directors, the Company’s 17th meeting of the ninth session of the Board of Supervisors, and the Company’s 2025 third extraordinary general meeting of shareholders approved the resolution on “Adjusting the repurchase price of restricted shares under the Third Tranche Stock Option and Restricted Stock Incentive Plan, and repurchasing and cancelling certain restricted shares.” The resolution agreed to repurchase and cancel 230,000 restricted shares that had been granted but had not yet had their restrictions lifted to 6 incentive recipients who no longer meet the incentive conditions due to leaving employment, with a repurchase price of RMB 6.41 per share.

After completion of the repurchase and cancellation of the above restricted shares, the conversion price of “Heda Convertible Bonds” was adjusted from RMB 16.75 per share to RMB 16.76 per share. The date on which the conversion price adjustment became effective was December 9, 2025.

For details, please refer to the Company’s announcement dated December 9, 2025 in 《China Securities Journal》《Securities Times》《Shanghai Securities News》《Securities Daily》and Jucheng Information Net (

III. Conversion of “Heda Convertible Bonds” and changes in the Company’s shareholdings

In the first quarter of 2026, “Heda Convertible Bonds” were reduced by 1,600 bonds due to conversion. The amount of convertible bonds decreased by RMB 160,000.00. The number of shares converted was 9,542 shares: of which 0 shares were newly issued shares, and 9,542 shares were treasury shares held by the Company’s share repurchase special securities account (the Company first repurchased shares on May 16, 2025 for conversion of convertible bonds). As of March 31, 2026, the remaining number of convertible bonds was 5,996,623 bonds, and the remaining amount was RMB 599,662,300.00.

The Company’s shareholding changes in the first quarter of 2026 are as follows:

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Note: 1. The Company’s share capital changes in this period mainly result from changes in executive locked-in shares held by directors and senior management, and newly added shares due to the exercise of stock options in the first exercise period under the Company’s Third Tranche Incentive Plan.

In the table above, “Proportion (%)” represents the results after rounding and retaining two decimal places.
The number of shares before this change in the table above is the data in the Company’s share capital structure table as of December 31, 2025.

IV. Other

If investors have any questions regarding the above matters, please call the Company’s investor hotline: 0533-6696036 for consultation.

If investors would like to learn more about other relevant matters of “Heda Convertible Bonds,” please refer to the Company’s June 29, 2023 announcement on Jucheng Information Net (

V. Documents for reference

The share capital structure table issued by the Shenzhen Branch of China Securities Depository and Clearing Co., Ltd.

This announcement is hereby issued.

Shandong Heda Group Co., Ltd.

Board of Directors

April 2, 2026

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