Huitong Construction Group Co., Ltd. Convertible Bond Conversion Results and Share Change Announcement

Stock Code: 603176 Stock Abbreviation: Huithong Group Announcement No.: 2026-004

Bond Code: 113665 Bond Abbreviation: Huithong Convertible Bonds

Huithong Construction Group Co., Ltd.

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

The board of directors of the Company and all members of the board hereby guarantee 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 content.

Key Matters Highlighted:

● Cumulative Conversion Status: The conversion start and end dates of the “Huithong Convertible Bonds” are June 21, 2023 to December 14, 2028. As of March 31, 2026, a total of RMB 371,000 of the “Huithong Convertible Bonds” has been converted into A-share stocks of Huithong Construction Group Co., Ltd. (hereinafter referred to as the “Company”), with a cumulative number of converted shares of 46,212 shares, representing approximately 0.0099% of the total issued shares of the Company prior to the conversion of the “Huithong Convertible Bonds”.

● Outstanding Unconverted Convertible Bonds: As of March 31, 2026, the amount of the “Huithong Convertible Bonds” that have not yet been converted is RMB 359,629,000, accounting for approximately 99.8969% of the total issuance of the “Huithong Convertible Bonds”.

● Conversion During This Quarter: During the period from January 1, 2026 to March 31, 2026, the “Huithong Convertible Bonds” had a cumulative conversion amount of RMB 1,000 and a cumulative number of converted shares of 158 shares.

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

(1) Issuance of the Convertible Bonds

Approved by the China Securities Regulatory Commission’s (CSRC) “Reply on Approving the Public Issuance of Convertible Corporate Bonds by Huithong Construction Group Co., Ltd.” (CSRC Approval [2022] No. 2894), the Company publicly issued 3.60 million lots of convertible corporate bonds to the public on December 15, 2022. Each lot has a par value of RMB 100, with a total issuance amount of RMB 360 million (i.e., RMB 360M). The term is 6 years from the date of issuance; the subsistence start and end dates are December 15, 2022 to December 14, 2028. The bond coupon rates are: year 1: 0.3%; year 2: 0.5%; year 3: 1.0%; year 4: 1.5%; year 5: 2.0%; year 6: 2.5%.

(2) Listing of the Convertible Bonds

With the approval of the Shanghai Stock Exchange’s self-regulatory supervision decision letter No. [2023] 4, the Company’s RMB 360 million convertible bonds have been listed and traded on the Shanghai Stock Exchange since January 11, 2023. The bond abbreviation is “Huithong Convertible Bonds,” and the bond code is “113665”.

(3) Adjustment to the Conversion Price of the Convertible Bonds

Pursuant to relevant provisions such as the “Shanghai Stock Exchange Stock Listing Rules,” and in accordance with the terms of the “Offering Memorandum for the Public Issuance of Convertible Corporate Bonds by Huithong Construction Group Co., Ltd.,” the “Huithong Convertible Bonds” are convertible into the Company’s shares starting from June 21, 2023. The initial conversion price is RMB 8.23 per share, and the latest conversion price is RMB 6.29 per share. The adjustments are as follows:

After the Company implemented the 2022 profit distribution and distributed cash dividends, the conversion price of the “Huithong Convertible Bonds” was adjusted from RMB 8.23 per share to RMB 8.21 per share. The adjusted conversion price became effective from June 13, 2023.

After the Company implemented the 2023 profit distribution and distributed cash dividends, the conversion price of the “Huithong Convertible Bonds” was adjusted from RMB 8.21 per share to RMB 8.19 per share. The adjusted conversion price became effective from July 4, 2024.

After the Company implemented the 2025 restricted stock incentive plan for the first grant, resulting in changes to the total share capital, the conversion price of the Company’s convertible bonds was adjusted from RMB 8.19 per share to RMB 8.09 per share. The adjusted conversion price became effective from April 14, 2025.

After the Company implemented the 2024 profit distribution and distributed cash dividends, the conversion price of the “Huithong Convertible Bonds” was adjusted from RMB 8.09 per share to RMB 8.07 per share. The adjusted conversion price became effective from July 7, 2025.

After the Company implemented the 2025 restricted stock incentive plan for the reserved grant, resulting in changes to the total share capital, the conversion price of the “Huithong Convertible Bonds” was adjusted from RMB 8.07 per share to RMB 8.06 per share. The adjusted conversion price became effective from September 23, 2025.

After the Company implemented a downward adjustment procedure for the conversion price of the convertible bonds, the conversion price of the “Huithong Convertible Bonds” was adjusted downward from RMB 8.06 per share to RMB 6.29 per share. The adjusted conversion price became effective from October 14, 2025.

II. Conversion of the Convertible Bonds This Time

The conversion period of the “Huithong Convertible Bonds” is June 21, 2023 to December 14, 2028. As of March 31, 2026, a total of RMB 371,000 of the “Huithong Convertible Bonds” has been converted into the Company’s A-share stock, with a cumulative number of converted shares of 46,212 shares, representing approximately 0.0099% of the total issued shares of the Company prior to the conversion of the “Huithong Convertible Bonds”.

Of this, during the period from January 1, 2026 to March 31, 2026, the “Huithong Convertible Bonds” had a cumulative conversion amount of RMB 1,000 and a cumulative number of converted shares of 158 shares. As of March 31, 2026, the amount of the “Huithong Convertible Bonds” that have not yet been converted is RMB 359,629,000, accounting for approximately 99.8969% of the total issuance of the “Huithong Convertible Bonds”.

III. Changes in Share Capital

Unit: shares

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IV. Other Matters

If investors need to learn about other relevant information regarding the “Huithong Convertible Bonds,” please refer to the full text of the “Offering Memorandum for the Public Issuance of Convertible Corporate Bonds by Huithong Construction Group Co., Ltd.” disclosed by the Company on December 13, 2022 on the website of the Shanghai Stock Exchange (www.sse.com.cn).

Contact Department: Office of the Board of Directors

Consultation Hotline: 0312-5595218

This announcement is hereby issued.

Board of Directors of Huithong Construction Group Co., Ltd.

April 2, 2026

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