Fu Neng Shares (600483): Issuance Of Shares To Adjust The Price Of Convertible Bonds.

Convertible bond Code: 110048 convertible bonds referred to as: Fu Neng convertible bond conversion code: 190048 referred to as shares: fortune to equity swap.

Fujian Fu Neng Limited by Share Ltd announcements on issuance of shares to adjust the price of convertible bonds

The board of directors and all directors of the company guarantee that there is no false record, misleading statement or major omission in the contents of this announcement, and shall bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents. Important note:

Adjust the price before conversion: 8.23 yuan / share.

Adjusted stock price: 8.12 yuan / share.

The implementation date of the price adjustment of Fu Neng convertible bonds: June 23, 2020

With the approval of the China Securities Regulatory Commission (CSRC) on Approving the approval of Fujian Fuxing Limited by Share Ltd's public offering of Switching Company bonds (SFC license No. [2018]1732), Fujian Funeng Limited by Share Ltd (hereinafter referred to as "company") was publicly issued 2 in December 7, 2018. 8 million 300 thousand Switching Company bonds, each denomination of 100 yuan, the total issue of 2 billion 830 million yuan, bonds for a period of 6 years. The above convertible bonds have been listed on the Shanghai Stock Exchange since December 28, 2018, and the bonds are referred to as "Fu Neng convertible bonds", and the bond code is "110048". Fuoneng convertible bonds can be converted into company stock since June 14, 2019, and the initial conversion price is 8.69 yuan / share. After the implementation of the 2018 profit distribution, the price of the converted stock has been adjusted to 8.48 yuan / share since July 29, 2019. After the implementation of the 2019 profit distribution, the price of the conversion price has been adjusted to 8.23 yuan / share since June 8, 2020.

1. The basis for price adjustment of stock swap.

(1) according to the agreement of the company's public offering of Switching Company bonds prospectus (hereinafter referred to as the "prospectus for convertible bonds"), the following formula will be applied when the company delivers dividends, capital stock, issue of new shares or allotment of shares, and the delivery of cash shares (excluding the capital stock added to the convertible bonds due to the issuance of convertible bonds) after the issuance of the company's convertible bonds. The adjustment of the stock price is carried out (keeping the two place after the decimal point, the last one is four, five enters):

Sending stock dividends or increasing capital stock: P1=P0/ (1+n);

Issuance of new shares or rights issue: P1= (P0+A * k) / (1+k);

The above two items are carried out at the same time: P1= (P0+A * k) / (1+n+k);

Cash dividend: P1=P0-D;

The above three items are carried out at the same time: P1 = (P0-D+A * k) / (1+n+k): P1 is the adjusted stock price, P0 is the adjusted forward share price, n is the delivery rate or the rate of increase in equity, A is the issuance of the new share price or the allotment price, K is the issuance rate or the rights issue rate, and D delivers cash dividends for each share.

Approved by the China Securities Regulatory Commission (CSRC) on Approving the approval of Fujian Fu Neng Limited by Share Ltd to issue shares to Fujian energy Refco Group Ltd, the approval of the SFC license No. [2019]2883 and the twenty-fourth interim meeting of the ninth board of directors of the company, the company issued 208540 to Fujian energy Refco Group Ltd. 956 shares purchased related assets, and the new share issue registration work has been completed in June 18, 2020. The company has adjusted the convertible bond conversion price for the issuance of shares this time, which is in line with the relevant provisions of the company's convertible bond prospectus.

(two) the company held the twenty-third ad interim meeting of the ninth board of directors in May 20, 2020, and deliberated and adopted the motion on adjusting the price of convertible bond. According to the authorization of the company's first provisional shareholders' meeting in 2017, after the motion was deliberated and passed by the board of directors of the company, it was not necessary to submit it to the shareholders' meeting for deliberation.

Two, the result of the price adjustment of the equity swap.

According to the convertible bond raising prospectus price adjustment formula: P1= (P0+A * k) / (1+k)

Among them, P0 is the 8.23 yuan / share before adjusting the stock price, A is the new share price 7.34 yuan / share, K is 13.44% of the new share issue, and the adjusted stock price is P1=8.12 yuan / share.

The adjusted stock price will come into force on June 23, 2020, and fuoneng equity swap (Code: 190048) will cease to be converted from June 22, 2020 and will be renewed in June 23, 2020.

Notice hereby.

Board of directors of Fujian fortune Limited by Share Ltd

June 20, 2020