Jiangsu Baichuan High-Tech New Materials Co., Ltd. Important Notice on Early Redemption of "Baichuan Transfer 2" and the Upcoming Suspension of Conversion

Log in to the Sina Finance app and search for 【information disclosure】 to view more evaluation tiers

The Company and all members of the Board of Directors hereby guarantee that the information disclosed is true, accurate, and complete, and contains no false records, misleading statements, or material omissions.

Key Information:

1、Last conversion date: March 31, 2026

March 31, 2026 is the last conversion date for “Bai Chuan Zhuan 2.” Before the close of trading on that day, investors holding “Bai Chuan Zhuan 2” may still convert; after the close of trading on March 31, 2026, any “Bai Chuan Zhuan 2” that has not been converted will cease to be convertible.

2、After the close of trading on March 27, 2026, “Bai Chuan Zhuan 2” has stopped trading. There are only 2 trading days left until “Bai Chuan Zhuan 2” stops being convertible and is redeemed. The Company hereby particularly reminds holders of “Bai Chuan Zhuan 2” to read this announcement carefully, fully understand the relevant risks, pay attention to the last conversion time, and make investment decisions prudently.

3、Pursuant to the arrangements, as of after the close of trading on March 31, 2026, for “Bai Chuan Zhuan 2” that has not yet been converted, it will be mandatorily redeemed at a price of RMB 100.809 per bond (principal) unit. If investors do not convert in a timely manner, they may face losses. Investors are kindly requested to pay attention to investment risks.

Special Notice:

1、Redemption price for “Bai Chuan Zhuan 2”: RMB 100.809 per bond (principal) unit (including accrued interest for the current period. The current annual interest rate is 1.80%, and the interest for the current period is subject to tax)

2、Redemption condition satisfied date for “Bai Chuan Zhuan 2”: March 10, 2026

3、Trading suspension date for “Bai Chuan Zhuan 2”: March 27, 2026

4、Conversion suspension date for “Bai Chuan Zhuan 2”: April 1, 2026

5、Redemption registration date for “Bai Chuan Zhuan 2”: March 31, 2026

6、Redemption date for “Bai Chuan Zhuan 2”: April 1, 2026

7、Issuer (Company) funds received date: April 7, 2026

8、Date when redemption proceeds are credited to investors’ accounts: April 9, 2026

9、Redemption category: Full redemption

10、Last trading day convertible bond abbreviation: Z Chuan Zhuan 2

11、Pursuant to the arrangements, as of after the close of trading on March 31, 2026, “Bai Chuan Zhuan 2” that has still not been converted will be mandatorily redeemed. It is hereby specially reminded that holders of “Bai Chuan Zhuan 2” should convert within the prescribed period. After this redemption is completed, “Bai Chuan Zhuan 2” will be delisted on the Shenzhen Stock Exchange. If “Bai Chuan Zhuan 2” held by its holders has been pledged or frozen, it is recommended that holders release the pledge or freeze before the conversion suspension date to avoid the situation where it is mandatorily redeemed due to an inability to convert.

12、Risk warning: Pursuant to the arrangements, as of after the close of trading on March 31, 2026, “Bai Chuan Zhuan 2” that has not yet been converted will be mandatorily redeemed at a price of RMB 100.809 per bond (principal) unit. If investors do not convert in a timely manner, they may face losses. Investors are kindly requested to pay attention to investment risks.

Jiangsu Bai Chuan Hi-Tech New Materials Co., Ltd. (hereinafter referred to as the “Company”) convened the 10th meeting of the 7th session of the Board of Directors on March 10, 2026. The meeting reviewed and approved the resolution on “Early Redemption of ‘Bai Chuan Zhuan 2’.” Based on the current market conditions and the Company’s own circumstances, after comprehensive consideration, the Company’s Board of Directors decided to exercise the right to early redeem “Bai Chuan Zhuan 2,” and authorized the Company’s management and relevant departments to be responsible for all subsequent matters related to the redemption. The relevant matters are now announced as follows:

I. Overview of the Redemption Circumstances

(I) Basic information of the convertible corporate bonds

1、Issuance of the convertible bonds

Approved by the China Securities Regulatory Commission (CSRC) through its approval dated September 26, 2022, namely the “Reply on Approving Jiangsu Bai Chuan Hi-Tech New Materials Co., Ltd. to Publicly Issue Convertible Corporate Bonds” (CSRC Approval No. [2022] 2255). The Company publicly issued convertible corporate bonds on October 19, 2022 to the public with a total principal amount of RMB 97,800 million. Each bond has a face value of RMB 100. There were 9.78 million bonds issued, with a term of 6 years. The total amount of funds raised from this issuance was RMB 978,000,000.00, and after deducting issuance expenses of RMB 15,994,028.27 (excluding VAT), the actual net proceeds raised amounted to RMB 962,005,971.73 (hereinafter referred to as the “raised funds”). As of October 25, 2022, all of the above raised funds had been received. The raised funds were verified by the certifying accountant Tianye Certified Public Accountants (Special General Partnership) and an audit verification report with reference number Su Gong W[2022]B133 was issued.

2、Listing of the convertible bonds

With approval from the Shenzhen Stock Exchange under document “Shen Zheng Shang [2022] 1069,” the Company’s RMB 97,800.00 million convertible corporate bonds have been listed and traded on the Shenzhen Stock Exchange starting November 16, 2022. The bond abbreviation is “Bai Chuan Zhuan 2,” and the bond code is “127075.”

3、Conversion period of the convertible bonds

The conversion period for the convertible bonds issued in this offering runs from the first trading day after the six-month period following the end date of issuance (October 25, 2022) (i.e., April 25, 2023) until the maturity date of the convertible bonds (October 18, 2028). However, since “Bai Chuan Zhuan 2” triggered the conditional redemption provisions on March 10, 2026, the Company convened the 10th meeting of the 7th session of the Board of Directors on the same day, and the meeting reviewed and approved the resolution on “Early Redemption of ‘Bai Chuan Zhuan 2’.” “Bai Chuan Zhuan 2” stopped trading after the close of trading on March 26, 2026, and stopped being convertible after the close of trading on March 31, 2026.

4、Adjustments to the conversion price of the convertible bonds

Pursuant to the provisions of the “Offering Memorandum for the Public Issuance of Convertible Corporate Bonds for 2022 by Jiangsu Bai Chuan Hi-Tech New Materials Co., Ltd.” (hereinafter referred to as the “Offering Memorandum”), after this issuance, if the Company distributes stock dividends, increases share capital through conversion of capital reserves, issues new shares, grants rights offerings, distributes cash dividends, etc. (excluding any increase in share capital resulting from the conversion of the convertible corporate bonds issued in this offering), the conversion price shall be adjusted accordingly. The initial conversion price of the Company’s convertible corporate bonds was RMB 10.36 per share.

Due to the implementation of the Company’s 2022 annual equity distribution plan, the conversion price of “Bai Chuan Zhuan 2” was adjusted from RMB 10.36 per share to RMB 10.31 per share. The adjusted conversion price became effective starting May 15, 2023. For details, see the Company’s announcement published on May 9, 2023 on the “Cninfo website” (

Due to the triggering of the conversion price downward adjustment clause for “Bai Chuan Zhuan 2,” and pursuant to the authorization granted by the first extraordinary general meeting of shareholders in 2024, the Board of Directors decided to adjust the conversion price of “Bai Chuan Zhuan 2” downward from RMB 10.31 per share to RMB 8.18 per share. The adjusted conversion price became effective starting August 6, 2024. For details, see the Company’s announcement published on August 6, 2024 on the “Cninfo website” (

Due to the implementation of the Company’s 2024 annual equity distribution plan, the conversion price of “Bai Chuan Zhuan 2” was adjusted from RMB 8.18 per share to RMB 8.12 per share. The adjusted conversion price became effective starting April 30, 2025. For details, see the Company’s announcement published on April 22, 2025 on the “Cninfo website” (

Due to the triggering of the conversion price downward adjustment clause for “Bai Chuan Zhuan 2,” and pursuant to the authorization granted by the first extraordinary general meeting of shareholders in 2025, the Board of Directors decided to adjust the conversion price of “Bai Chuan Zhuan 2” downward from RMB 8.12 per share to RMB 7.53 per share. The adjusted conversion price became effective starting May 15, 2025. For details, see the Company’s announcement published on May 15, 2025 on the “Cninfo website” (

(II) Conditional redemption provisions for the convertible corporate bonds

The relevant provisions regarding the conditional redemption clauses in the “Offering Memorandum” are as follows:

During the conversion period, if either of the following two situations occurs, the Company may decide to redeem all or part of the unconverted convertible corporate bonds at a price equal to the par value plus accrued interest for the current period:

1、During the conversion period, if in any consecutive thirty trading days the closing price of the Company’s shares is not lower than 130% of the then-current conversion price on at least twenty trading days (including 130%). If a conversion price adjustment occurs within the above trading days, then for the trading days before the adjustment, the calculation shall be based on the pre-adjustment conversion price and the closing price; for the trading days after the adjustment, the calculation shall be based on the adjusted conversion price and the closing price;

2、When the outstanding balance of the convertible corporate bonds issued in this offering that has not been converted is less than RMB 30 million.

The formula for calculating the accrued interest for the current period is: IA = B × i × t / 365

IA: refers to accrued interest for the current period;

B: refers to the aggregate face amount of the convertible corporate bonds held by holders of the convertible corporate bonds issued in this offering;

i: refers to the coupon rate (face interest rate) for the current year of the convertible corporate bonds;

t: refers to the number of days for interest calculation, i.e., the actual number of calendar days from the day following the last interest payment date to the redemption date in the current interest calculation year (counting the first day but not the last day).

(III) Triggering of the conditional redemption provisions for the convertible corporate bonds

From February 3, 2026 to March 10, 2026, the Company’s stock price has met the condition that, in any consecutive thirty trading days, the closing price is not lower than 130% of the then-current conversion price (i.e., RMB 7.53 per share) on at least twenty trading days (including 130%, i.e., RMB 9.79 per share). Pursuant to the provisions of the “Offering Memorandum,” the conditional redemption provisions for “Bai Chuan Zhuan 2” have been triggered.

二、Implementation Arrangements for the Redemption

(I) Redemption price and basis for determining the redemption price

Pursuant to the Company’s “Offering Memorandum” regarding conditional redemption, the redemption price of “Bai Chuan Zhuan 2” is RMB 100.809 per bond (principal) unit. The calculation process is as follows:

The formula for calculating the accrued interest for the current period is: IA = B × i × t / 365

IA: refers to accrued interest for the current period

B: refers to the aggregate face amount of the convertible corporate bonds held by holders of the convertible corporate bonds issued in this offering (each bond has a face value of RMB 100);

i: refers to the coupon rate (face interest rate) for the current year of the convertible corporate bonds, 1.80%;

t: refers to the number of days for interest calculation. From the interest calculation start date (i.e., October 19, 2025) to the redemption date for the current interest calculation year (i.e., April 1, 2026), the actual number of calendar days is 164 days (counting the first day but not the last day).

Accrued interest per bond for the current period = 100 × 1.80% × 164 / 365 ≈ RMB 0.809 per bond

Redemption price per bond = bond face value + accrued interest for the current period = 100 + 0.809 = RMB 100.809 per bond

The redemption price after tax shall be subject to the price approved by the Shenzhen Branch of China Securities Depository and Clearing Co., Ltd. The Company will not withhold and pay the holders’ interest income tax on behalf of the holders.

(II) Redemption parties

As of the redemption registration date (i.e., March 31, 2026) after the close of trading, all holders of “Bai Chuan Zhuan 2” that are registered with the Shenzhen Branch of China Securities Depository and Clearing Co., Ltd.

(III) Redemption procedures and timing arrangements

1、The Company will disclose, once per trading day, a redemption notice prior to the redemption date (i.e., before April 1, 2026), to notify the bond holders of “Bai Chuan Zhuan 2.”

2、Starting from March 27, 2026, “Bai Chuan Zhuan 2” will stop trading.

3、Starting from April 1, 2026, “Bai Chuan Zhuan 2” will stop being convertible.

4、April 1, 2026 is the redemption date of “Bai Chuan Zhuan 2.” The Company will redeem in full “Bai Chuan Zhuan 2” registered after the close of trading on the redemption registration date (the trading day immediately preceding the redemption date: March 31, 2026). After this conditional redemption is completed, “Bai Chuan Zhuan 2” will be delisted on the Shenzhen Stock Exchange.

5、April 7, 2026 is the date when the issuer (Company) funds are received (credited to the account of CSDC), and April 9, 2026 is the date when redemption proceeds are credited to the holders’ capital accounts of “Bai Chuan Zhuan 2.” At that time, the redemption proceeds of “Bai Chuan Zhuan 2” will be directly remitted into the holders’ capital accounts of “Bai Chuan Zhuan 2” via the bond custody securities firms.

6、Within 7 trading days after the completion of this redemption, the Company will publish a redemption results announcement and a convertible bond delisting announcement in the information disclosure media designated by the China Securities Regulatory Commission.

7、Last trading day convertible bond abbreviation: Z Chuan Zhuan 2.

(IV) Methods for consultation

Contact department: Company’s Securities Department

Contacts: Chen Huimin, Miao Bin

Phone: 0510-81629928

Email: bcc@bcchem.com

III. Circumstances of the Company’s actual controller, controlling shareholder, shareholders holding more than 5%, directors, and senior management trading “Bai Chuan Zhuan 2” within the 6 months prior to satisfaction of the redemption conditions

Within the 6 months prior to satisfaction of the redemption conditions, the Company’s actual controller, controlling shareholder, shareholders holding more than 5%, directors, and senior management have not traded “Bai Chuan Zhuan 2.”

IV. Other Matters to Be Clarified

1、If holders of “Bai Chuan Zhuan 2” need to process conversion, they must submit a conversion application through the securities firm that provides custody for this bond. For the detailed conversion procedures, holders are advised to consult the securities firm where they opened their account before submitting the application.

2、The minimum unit for applying for conversion of convertible bonds is 1 bond, and each bond has a par value of RMB 100.00. The minimum unit converted into shares is 1 share. If multiple conversion applications are submitted on the same trading day, the number of converted shares shall be aggregated and calculated. The shares applied for conversion by holders of the convertible bonds must be an integer multiple of 1 share. Any portion of the convertible bonds that cannot be converted into 1 share during conversion will be settled in cash within five trading days after the day when the holders of the convertible bonds submit their conversion applications, in accordance with the relevant rules of the Shenzhen Stock Exchange and other relevant departments, for the portion of the convertible bonds’ face value balance and the corresponding interest payable for the current period.

3、Convertible bonds purchased on the day can be converted on that same day if the holder submits a conversion application that day. The newly issued shares arising from conversion can be listed for trading on the next trading day after the conversion application is submitted and shall enjoy the same rights as the original shares.

V. Risk Warning

Pursuant to the arrangements, as of after the close of trading on March 31, 2026, “Bai Chuan Zhuan 2” that has not yet been converted will be mandatorily redeemed. The holders of “Bai Chuan Zhuan 2” are hereby reminded to convert within the prescribed period. After this redemption is completed, “Bai Chuan Zhuan 2” will be delisted on the Shenzhen Stock Exchange. If “Bai Chuan Zhuan 2” held by its holders has been pledged or frozen, it is recommended that holders release the pledge or freeze before the conversion suspension date to avoid the situation where it is mandatorily redeemed due to an inability to convert.

Pursuant to the arrangements, as of after the close of trading on March 31, 2026, “Bai Chuan Zhuan 2” that has not yet been converted will be mandatorily redeemed at a price of RMB 100.809 per bond (principal) unit. If investors do not convert in a timely manner, they may face losses. Investors are kindly requested to pay attention to investment risks.

This announcement is hereby made.

Board of Directors of Jiangsu Bai Chuan Hi-Tech New Materials Co., Ltd.

March 27, 2026

Endless information and precise interpretation—available on the Sina Finance app