Guizhou Gas Group Co., Ltd. Convertible Bond Share Conversion Results and Shareholding Change Announcement

MaticHoleFiller · 2026-04-07T20:55:10+00:00

Guizhou Gas issued an announcement on the results of the convertible bond conversion. As of March 31, 2026, the total converted amount is 84.9M yuan, accounting for 8.49% of the total issuance. There were no conversions during this quarter. The remaining balance of unconverted convertible bonds is 915 million yuan, representing 91.51% of the total.

MaticHoleFiller

2026-04-07 20:55:10

Abstract generation in progress

Security Code: 600903 Security Short Name: Guizhou Gas Announcement No.: 2026-013

Bond Code: 110084 Bond Short Name: Guiran Convertible Bonds

Guizhou Gas Group Co., Ltd.

Announcement on the Results of the Conversion of the Convertible Bonds into Shares and Changes in Share Capital

The Board of Directors of the Company and all of its directors warrant that the contents of this announcement contain no false records, misleading statements, or material omissions, and assume legal responsibility for the authenticity, accuracy, and completeness of the contents.

Key Matters to Note:

● Cumulative Conversion Status: Since the Guizhou Gas Group Co., Ltd. (hereinafter referred to as “Guizhou Gas” or the “Company”) convertible corporate bonds (hereinafter referred to as the “Guiran Convertible Bonds”) entered the conversion period on July 1, 2022, as of December 31, 2025, the cumulative amount converted from the “Guiran Convertible Bonds” is RMB 84,903,000, accounting for 8.4903% of the total issue amount of the “Guiran Convertible Bonds”; the cumulative number of shares formed as a result of conversion is 11,824,381 shares, accounting for 1.0389% of the total number of issued ordinary shares of the Company prior to conversion of the “Guiran Convertible Bonds”.

● Redemption Status: Due to the activation of the additional put option redemption provisions in the “Guizhou Gas Group Co., Ltd. Public Offering Prospectus for Convertible Corporate Bonds” (hereinafter referred to as the “Prospectus”), the holders of the convertible bonds, in accordance with the agreement and the Company’s announcements, have cumulatively submitted applications for the redemption of 30 bond units with a par value of RMB 3,000. The redemption proceeds were paid out on May 31, 2023, and the above redeemed bonds have been fully cancelled.

● Status of Convertible Bonds Not Converted: As of March 31, 2026, the amount of the “Guiran Convertible Bonds” that has not been converted is RMB 915,094,000, accounting for 91.5094% of the total issue amount of the “Guiran Convertible Bonds”.

● Conversion Status This Quarter: During the period from January 1, 2026 to March 31, 2026, the conversion amount of the “Guiran Convertible Bonds” is RMB 0, and the number of shares formed as a result of conversion is 0 shares.

I. Overview of the Issuance and Listing of the Convertible Bonds

(1) Approved by the China Securities Regulatory Commission’s “Reply on the Approval of the Public Offering of Convertible Corporate Bonds by Guizhou Gas Group Co., Ltd.” (Securities Permit [2021] No. 2970), Guizhou Gas publicly issued 10 million units of convertible corporate bonds on December 27, 2021. Each unit had a par value of RMB 100, with a total issue amount of RMB 1.0 billion, and a term of 6 years.

(2) Approved by the Shanghai Stock Exchange’s self-regulatory decision letter [2022] No. 14, the Company’s RMB 1.0 billion convertible corporate bonds were listed and traded on the Shanghai Stock Exchange starting from January 18, 2022. The bond name is “Guiran Convertible Bonds,” and the bond code is “110084”.

(3) Pursuant to the relevant regulations including the “Shanghai Stock Exchange Listing Rules for Stocks” and in accordance with the “Prospectus,” the “Guiran Convertible Bonds” issued by the Company are convertible into the Company’s shares starting from July 1, 2022. The initial conversion price is RMB 10.17 per share, and the latest conversion price is RMB 7.11 per share. The historical conversion price adjustment is as follows:

On April 22, 2022 and May 13, 2022, the Company’s 24th meeting of the second session of the Board of Directors and the 2021 annual general meeting of shareholders approved the resolution on “the Proposal for Downward Adjustment of the Conversion Price of the ‘Guiran Convertible Bonds’.” In accordance with the relevant provisions of the Company’s “Prospectus,” the conversion price of the “Guiran Convertible Bonds” was adjusted downward from RMB 10.17 per share to RMB 7.22 per share effective May 16, 2022. For details, please refer to the Company’s announcement published on the website of the Shanghai Stock Exchange on May 14, 2022: “Guizhou Gas Group Co., Ltd. Announcement on Adjusting the Conversion Price of the ‘Guiran Convertible Bonds’ Downward” (Announcement No. 2022-039).
On May 30, 2022, the Company implemented its 2021 annual equity distribution. Pursuant to the relevant provisions of the Company’s “Prospectus” and the rules of the CSRC regarding the issuance of convertible corporate bonds, the conversion price of the “Guiran Convertible Bonds” was adjusted from RMB 7.22 per share to RMB 7.18 per share effective May 30, 2022. For details, please refer to the Company’s announcement published on the website of the Shanghai Stock Exchange on May 24, 2022: “Guizhou Gas Group Co., Ltd. Announcement on Adjusting the Conversion Price of Convertible Bonds Following the Equity Distribution for 2021” (Announcement No. 2022-046).
On June 7, 2024, the Company implemented its 2023 annual equity distribution. Pursuant to the relevant provisions of the Company’s “Prospectus” and the rules of the CSRC regarding the issuance of convertible corporate bonds, the conversion price of the “Guiran Convertible Bonds” was adjusted from RMB 7.18 per share to RMB 7.15 per share effective June 7, 2024. For details, please refer to the Company’s announcement published on the website of the Shanghai Stock Exchange on May 31, 2024: “Guizhou Gas Group Co., Ltd. Announcement on Adjusting the Conversion Price of Convertible Bonds Following the Equity Distribution for 2023” (Announcement No. 2024-029).
On January 13, 2025, the Company implemented its equity distribution for the first three quarters of 2024. Pursuant to the relevant provisions of the Company’s “Prospectus” and the rules of the CSRC regarding the issuance of convertible corporate bonds, the conversion price of the “Guiran Convertible Bonds” was adjusted from RMB 7.15 per share to RMB 7.14 per share effective January 13, 2025. For details, please refer to the Company’s announcement published on the website of the Shanghai Stock Exchange on January 6, 2025: “Guizhou Gas Group Co., Ltd. Announcement on Adjusting the Conversion Price of Convertible Bonds Following the Equity Distribution for the First Three Quarters of 2024” (Announcement No. 2025-004).
On June 16, 2025, the Company implemented its 2024 annual equity distribution. Pursuant to the relevant provisions of the Company’s “Prospectus” and the rules of the CSRC regarding the issuance of convertible corporate bonds, the conversion price of the “Guiran Convertible Bonds” was adjusted from RMB 7.14 per share to RMB 7.12 per share effective June 16, 2025. For details, please refer to the Company’s announcement published on the website of the Shanghai Stock Exchange on June 10, 2025: “Guizhou Gas Group Co., Ltd. Announcement on Adjusting the Conversion Price of Convertible Bonds Following the Equity Distribution for 2024” (Announcement No. 2025-054).
On September 17, 2025, the Company implemented its 2025 interim equity distribution. Pursuant to the relevant provisions of the Company’s “Prospectus” and the rules of the CSRC regarding the issuance of convertible corporate bonds, the conversion price of the “Guiran Convertible Bonds” was adjusted from RMB 7.12 per share to RMB 7.11 per share effective September 17, 2025. For details, please refer to the Company’s announcement published on the website of the Shanghai Stock Exchange on September 11, 2025: “Guizhou Gas Group Co., Ltd. Announcement on Adjusting the Conversion Price of Convertible Bonds Following the Interim Equity Distribution for 2025” (Announcement No. 2025-078).

(4) Redemption Status: Due to the activation of the additional put option redemption provisions in the “Prospectus,” the holders of the “Guiran Convertible Bonds,” in accordance with the agreement and the Company’s announcements, have cumulatively submitted applications for the redemption of 30 bond units with a par value of RMB 3,000. The redemption proceeds were paid out on May 31, 2023, and the above redeemed bonds have been fully cancelled. For details, please refer to the Company’s announcement published on the website of the Shanghai Stock Exchange on May 31, 2023: “Guizhou Gas Group Co., Ltd. Announcement on the Redemption Results of the ‘Guiran Convertible Bonds’” (Announcement No. 2023-033).

II. Conversion Status of the Convertible Bonds This Time

(1) The conversion period of the “Guiran Convertible Bonds” is from July 1, 2022 to December 26, 2027. During the period from January 1, 2026 to March 31, 2026, the conversion amount is RMB 0; the number of shares formed as a result of conversion is 0 shares, representing 0.00% of the total number of issued shares of the Company prior to the conversion of the “Guiran Convertible Bonds.” As of March 31, 2026, the cumulative conversion amount of the “Guiran Convertible Bonds” is RMB 84,903,000, accounting for 8.4903% of the total issue amount of the “Guiran Convertible Bonds”; the cumulative number of shares formed as a result of conversion is 11,824,381 shares, accounting for 1.0389% of the total number of issued shares of the Company prior to the conversion of the “Guiran Convertible Bonds.”

(2) The amount of the “Guiran Convertible Bonds” that has not yet been converted by the Company is RMB 915,094,000, accounting for 91.5094% of the total issue amount of the “Guiran Convertible Bonds.”

III. Changes in Share Capital

Unit: shares

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IV. Other Matters

Contact Department: Office of the Board of Directors

Telephone: 0851-86771204

Contact Fax: 0851-86771204

Contact Email: gzrq@gzgas.com.cn

This announcement is hereby made.

Board of Directors of Guizhou Gas Group Co., Ltd.

April 1, 2026

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