Funeng Shares (600483): Profit Distribution Adjusts The Price Of Funeng Convertible Bond To Equity

Fujian Funeng Co., Ltd. announcement on profit distribution adjustment of Funeng convertible bond to equity price

The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and shall bear individual and joint liabilities for the authenticity, accuracy and completeness of the contents. Important content tips:

● conversion price before adjustment: 8.12 yuan / share

● adjusted conversion price: 7.85 yuan / share

Implementation date of price adjustment of Funeng Convertible Bond: July 28, 2021

Approved by China Securities Regulatory Commission (CSRC approval [2018] No. 1732), Fujian Funeng Co., Ltd. (hereinafter referred to as "the company") issued 28.3 million convertible corporate bonds on December 7, 2018, with a face value of 100 yuan each and a total amount of 2.830 billion yuan, The maturity of the bonds is six years. The above convertible bonds have been listed and traded on Shanghai Stock Exchange since December 28, 2018. The bonds are referred to as "Funeng convertible bonds", and the bond code is "110048". Funeng convertible bonds can be converted into shares of the company from June 14, 2019. The initial conversion price is 8.69 yuan / share, and the latest conversion price is 8.12 yuan / share.

I. basis for adjustment of conversion price

(1) the company held the 2020 annual general meeting of shareholders on June 28, 2021. The annual equity distribution plan for 2020 was reviewed and approved as follows: Based on the total share capital on the equity registration date determined by the implementation announcement of equity distribution in 2020, cash dividends of RMB 2.70 (including tax) were distributed to all shareholders for every 10 shares, and the remaining undistributed profits were accumulated to be distributed in subsequent years, No capital accumulation fund will be converted to share capital in this year.

(2) according to the relevant provisions of the company's prospectus for the public offering of convertible bonds (hereinafter referred to as the "prospectus for convertible bonds"), after the issuance of Funeng convertible bonds, when the company distributes stock dividends, converts to increase share capital, issues new shares or allotment shares, and distributes cash dividends (excluding the capital stock increased due to the convertible bonds issued this time), etc, The conversion price will be adjusted accordingly.

(3) the company held the 31st interim meeting of the 9th board of directors on July 13, 2021, deliberated and passed the proposal on adjusting the price of Funeng convertible bonds into shares. In view of the company's plan to implement the distribution of rights and interests in 2020, according to the above-mentioned "may"

According to the relevant provisions on the adjustment of the conversion price in the bond raising instructions, the conversion price of Funeng convertible bonds will be adjusted from the current 8.12 yuan / share to 7.85 yuan / share from the ex right and ex dividend date determined by the company's equity distribution in 2020. The company adjusted the convertible bond to equity price due to the implementation of the equity distribution plan in 2020, which is in line with the relevant provisions of the company's convertible bond raising instructions.

2. Adjustment formula of conversion price

According to the convertible bond raising instructions, the price adjustment formula of cash dividend to share conversion is: P1 = p0-d, in which: P0 is the stock price of 8.12 yuan / share before adjustment, D is the cash dividend of 0.27 yuan / share, and the adjusted conversion price P1 = 7.85 yuan / share. The adjusted conversion price will take effect from July 28, 2021, and Funeng convertible bond will resume from July 28, 2021.

It is hereby announced.

Board of directors of Fujian Funeng Co., Ltd

21 July 2021