Securities code: 603097 Securities abbreviation: Jiangsu Huachen Announcement No.: 2026-008
Bond code: 113695 Bond abbreviation: Huachen convertible bonds
Jiangsu Huachen Transformer Co., Ltd.
Announcement on the 10% change in the proportion of convertible bonds held by bondholders
The company's board of directors and all directors guarantee that the contents of this announcement do not contain any false records, misleading statements or major omissions, and assume legal responsibility for the authenticity, accuracy and completeness of its contents.
1. Placement of convertible bonds
With the approval of the China Securities Regulatory Commission's Securities Regulatory Commission Document No. 988 (2025), Jiangsu Huachen Transformer Co., Ltd. (hereinafter referred to as the "Company") issued 4,600,000 convertible corporate bonds to unspecified objects on June 20, 2025, with a face value of RMB 100 each, and a total issuance of RMB 460,000,000, with a term of 6 years. As approved by the Shanghai Stock Exchange's Self-Regulatory Supervision Decision [2025] No. 155, the 460 million yuan convertible corporate bonds issued by the company will be listed and traded on the Shanghai Stock Exchange on July 10, 2025. The bond abbreviation is "Huachen Convertible Bonds" and the bond code is "113695".
The company's controlling shareholder and actual controller Zhang Xiaojin and persons acting in concert Zhang Xiaobao, Zhang Chenchen, Zhang Xiaoyu and Zhang Xiaoyin subscribed for a total of 3,132,640 "Huachen Convertible Bonds" through preferential allotment by the original shareholders, accounting for 68.10% of the company's total convertible corporate bonds issuance.
2. Changes in convertible bond holding ratio
From January 19, 2026 to January 23, 2026, the controlling shareholder and actual controller Zhang Xiaojin reduced his holdings of "Huachen Convertible Bonds" by a total of 600,000 pieces through centralized bidding through the Shanghai Stock Exchange system, accounting for 13.04% of the total issuance. After the reduction, the controlling shareholder and actual controller Zhang Xiaojin and persons acting in concert hold 2,532,640 "Huachen Convertible Bonds", accounting for 55.06% of the total amount of convertible bonds issued. For details, please refer to the "Jiangsu Huachen Transformer Co., Ltd.'s Announcement on the Change in the Proportion of Bond Holders' Convertible Bonds Holding by 10%" disclosed by the company on January 24, 2026 (Announcement Number: 2026-003).
From January 26, 2026 to February 3, 2026, the controlling shareholder and actual controller Zhang Xiaojin and his concerted parties reduced their holdings of "Huachen Convertible Bonds" by a total of 560,000 pieces through centralized bidding through the Shanghai Stock Exchange system, accounting for 12.17% of the total issuance. After the reduction, the controlling shareholder and actual controller Zhang Xiaojin and persons acting in concert held 1,972,640 "Huachen Convertible Bonds", accounting for 42.88% of the total amount of convertible bonds issued. For details, please refer to the "Announcement of Jiangsu Huachen Transformer Co., Ltd. on the change in the proportion of convertible bonds held by bondholders reaching 10%" disclosed by the company on February 4, 2026 (Announcement Number: 2026-006).
Recently, the company received a notice from the controlling shareholder and actual controller Zhang Xiaojin and his persons acting in concert. From February 4, 2026 to February 11, 2026, the controlling shareholder and actual controller Zhang Xiaojin and his persons acting in concert reduced their holdings of "Huachen Convertible Bonds" by a total of 565,140 pieces through centralized bidding through the Shanghai Stock Exchange system, accounting for 12.28% of the total issuance. The specific changes are as follows:
Note: 1. The total issuance amount in the above table is the initial issuance amount of 4,600,000 pieces.
2. If the total number of the above values does not match the sum of each sub-item value, it is due to rounding.
Announcement is hereby made.
Board of Directors of Jiangsu Huachen Transformer Co., Ltd.
February 13, 2026
