Zhejiang Taifu Pump Industry Co., Ltd. Announcement on the Conversion of Convertible Bonds in the First Quarter of 2026

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Security code: 300992 Stock abbreviation: Taifu Pump Industry Announcement No.: 2026-018

Bond code: 123160 Bond abbreviation: Taifu Convertible Bonds

Announcement of Zhejiang Taifu Pump Industry Co., Ltd. on the Conversion of Its Convertible Corporate Bonds into Shares for the First Quarter of 2026

This company and all members of the Board of Directors guarantee that the information disclosed is true, accurate, and complete, and that there are no false records, misleading statements, or material omissions.

Special Notice:

1. The conversion period of “Taifu Convertible Bonds” (bond code: 123160) is from April 11, 2023 to September 27, 2028; the latest conversion price is RMB 19.77 per share.

2. In the first quarter of 2026, a total of 1,830 “Taifu Convertible Bonds” completed conversion (aggregate par value of RMB 183,000), resulting in a total conversion into 9,249 shares of “Taifu Pump Industry” (stock code: 300992).

3. As of the end of the first quarter of 2026, the number of convertible bonds remaining available to the company is 2,314,844 lots, and the remaining par value is RMB 231,484,400.

Pursuant to the relevant provisions of the “Shenzhen Stock Exchange GEM Stock Listing Rules” and the “Shenzhen Stock Exchange Listed Company Self-Regulatory Guidance No. 15—Convertible Corporate Bonds,” Zhejiang Taifu Pump Industry Co., Ltd. (hereinafter referred to as the “Company” or “Taifu Pump Industry”) hereby announces the conversion of its convertible corporate bonds for the first quarter of 2026 (hereinafter referred to as “Taifu Convertible Bonds” or “convertible bonds”) and the changes in the Company’s shares as follows:

I. Overview of the issuance and listing of the convertible bonds

(I) Issuance of the convertible bonds

With approval from the China Securities Regulatory Commission’s “Reply on Approving the Registration of Zhejiang Taifu Pump Industry Co., Ltd. to Issue Convertible Corporate Bonds to Non-Specific Subscribers” (CSRC Permit [2022] No. 1827), the Company was approved to register. On September 28, 2022, the Company issued 3.3489 million lots of convertible corporate bonds to non-specific subscribers, with a par value of RMB 100 per lot and a total issuance amount of RMB 33,489.00 million. The issuance was conducted using a preferential allotment method to the original shareholders registered with the Shenzhen Branch of China Securities Depository and Clearing Co., Ltd. as of the close of business on the equity record date. After the preferential allotment to the original shareholders, the remaining portion (including the portion waived by the original shareholders) was issued online through the trading system of the Shenzhen Stock Exchange (hereinafter referred to as “SZSE”) to the public investors. Any portion where the subscription amount is insufficient compared to RMB 33,489.00 million was underwritten in full by the sponsor (lead underwriter).

(II) Listing of the convertible bonds

With approval from the SZSE, the Company’s convertible bonds were listed and traded on the SZSE starting from October 25, 2022. The bond abbreviation is “Taifu Convertible Bonds,” and the bond code is 123160.

(III) Conversion period of the convertible bonds

The conversion period of Taifu Convertible Bonds runs from the first trading day after the expiration of six months from the end of the issuance of the convertible bonds to the maturity date, i.e., from April 11, 2023 to September 27, 2028 (if coinciding with statutory holidays or rest days, it is extended to the first trading day thereafter; interest payments during the extended period shall not accrue separately).

(IV) Adjustment to the conversion price of the convertible bonds

According to the provisions of the “Prospectus for the Issuance of Convertible Corporate Bonds to Non-Specific Subscribers by Zhejiang Taifu Pump Industry Co., Ltd.” (hereinafter referred to as the “Prospectus”), the initial conversion price of “Taifu Convertible Bonds” is RMB 23.40 per share.

Based on the resolutions approved at the 21st meeting of the Third Board of Directors, the 2023 First Extraordinary General Meeting of Shareholders, regarding the “Proposal on Downward Adjustment of the Conversion Price of Taifu Convertible Bonds,” and the resolution approved at the 23rd meeting of the Third Board of Directors, regarding the “Proposal on Determining the Downward Adjustment of the Conversion Price of Taifu Convertible Bonds,” the Board of Directors decided to downward adjust the conversion price of “Taifu Convertible Bonds” to RMB 19.89 per share. The adjusted conversion price took effect on May 16, 2023.

According to the Company’s 2022 Annual General Meeting resolution, the Company completed the 2022 annual profit distribution plan on June 9, 2023. As a result, the conversion price of “Taifu Convertible Bonds” was adjusted from RMB 19.89 per share to RMB 19.82 per share, and the adjusted conversion price took effect on June 9, 2023.

According to the Company’s 2023 Annual General Meeting resolution, the Company completed the 2023 annual profit distribution plan on June 24, 2024. As a result, the conversion price of “Taifu Convertible Bonds” was adjusted from RMB 19.82 per share to RMB 19.75 per share, and the adjusted conversion price took effect on June 24, 2024.

The Company convened the 2025 first extraordinary general meeting of shareholders on March 7, 2025, and the meeting approved the “Proposal on Adjusting the Repurchase Price of the First Category of Restricted Shares under the 2024 Restricted Share Incentive Plan and Repurchasing, Cancelling and Forfeiting Certain Restricted Shares.” The Company completed the repurchase and cancellation of 688,000 shares of restricted stock on June 13, 2025 at the Shenzhen Branch of China Securities Depository and Clearing Co., Ltd. After the repurchase and cancellation of the above shares, the conversion price of “Taifu Convertible Bonds” was adjusted from RMB 19.75 per share to RMB 19.84 per share, and the adjusted conversion price took effect on June 16, 2025.

Pursuant to the resolutions of the Company’s 2024 annual general meeting of shareholders, the Company completed the 2024 annual profit distribution plan on June 27, 2025. As a result, the conversion price of “Taifu Convertible Bonds” was adjusted from RMB 19.84 per share to RMB 19.77 per share, and the adjusted conversion price took effect on June 27, 2025.

II. Conversion of the convertible bonds and changes in shares

“Taifu Convertible Bonds” have been convertible into the Company’s shares since April 11, 2023. From January 1, 2026 to March 31, 2026, “Taifu Convertible Bonds” decreased by 1,830 lots due to conversion (aggregate par value of RMB 183,000), and the number of converted shares was 9,249. As of March 31, 2026, “Taifu Convertible Bonds” still has 2,314,844 lots outstanding (par value of RMB 231,484,400).

The Company’s changes in shareholding for the first quarter of 2026 are as follows:

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Note: If the figures in the above table do not match the sum of the sub-items due to rounding, the discrepancies are attributable to rounding.

III. Passive dilution of shareholding of the Company’s controlling shareholder, actual controller, and their persons acting in concert, and the situation where equity changes reach integer multiples of 5%

In the first quarter of 2026, the Company’s shareholders Wenling City Hongtai Investment Partnership (Limited Partnership) and Wenling City Yitai Investment Partnership (Limited Partnership), through centralized bidding to reduce the Company’s shares, passive dilution due to the conversion of convertible bonds, and the joint result of the cancellation of equity incentive arrangements due to share buyback and cancellation, caused the aggregate shareholding ratio of the Company’s controlling shareholder and actual controllers, namely Mr. Chen Yiwen and Ms. Lin Hui, and their persons acting in concert, namely Wenling City Dijiu Electronic Technology Co., Ltd., Hongtai Investment, and Yitai Investment, to change to 45.00%, reaching an integer multiple of 5%. For specific details, please refer to the Company’s “Notice on the Equity Change of the Controlling Shareholders, Actual Controllers and Their Persons Acting in Concert Reaching an Integer Multiple of 5%,” which was disclosed on Juchuang Information Network on March 2, 2026 (Announcement No.: 2026-012).

IV. Other matters

If investors need to learn about other related information of “Taifu Convertible Bonds,” please refer to the full text of the Prospectus published by the Company on September 26, 2022 on Juchuang Information Network (www.cninfo.com.cn). If investors have any questions regarding the above matters, please call the Company’s Securities Department at: 0576-86312868.

V. Documents for reference

1. The “Taifu Pump Industry” share capital structure table issued by the Shenzhen Branch of China Securities Depository and Clearing Co., Ltd. as of March 31, 2026;

2. The “Taifu Convertible Bonds” share capital structure table issued by the Shenzhen Branch of China Securities Depository and Clearing Co., Ltd. as of March 31, 2026.

This announcement is hereby issued.

Zhejiang Taifu Pump Industry Co., Ltd.

Board of Directors

April 1, 2026

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