Shanghai Qifan Cable Co., Ltd. Announcement on the Results of Convertible Bond Conversion and Share Changes

Stock Code: 605222 Stock Short Name: Yifang Cable Announcement No.: 2026-013

Bond Code: 111000 Bond Short Name: Yifang Convertible Bonds

Shanghai Yifang Cable Co., Ltd.

Announcement on the Results of Conversion of Convertible Bonds and Changes in Shares

The board of directors of the Company and all its directors hereby guarantee that the contents of this announcement contain no false records, misleading statements, or material omissions, and assume legal responsibility for the truthfulness, accuracy, and completeness of the contents.

Key Information Highlights:

● Conversion status: In the first quarter of 2026, a total of RMB 34,000 of “Yifang Convertible Bonds” was converted into the Company’s shares, resulting in a total conversion of 1,958 shares. As of March 31, 2026, a cumulative RMB 797,000 of “Yifang Convertible Bonds” has been converted into the Company’s shares, and the cumulative number of shares formed by the conversion is 40,027 shares, accounting for 0.0096% of the total number of shares issued by the Company before the conversion of the convertible bonds.

● Unconverted convertible bonds: As of March 31, 2026, the amount of convertible bonds not yet converted is RMB 999,203,000, accounting for 99.9203% of the total amount of convertible bonds issued in this offering.

I. Overview of the Issuance and Listing of Convertible Bonds

(I) Details of the Issuance of the Convertible Bonds

Approved by the China Securities Regulatory Commission’s reply “on approving the public issuance of convertible corporate bonds by Shanghai Yifang Cable Co., Ltd.” (CSRC Approval [2021] No. 667), Shanghai Yifang Cable Co., Ltd. (hereinafter referred to as the “Company”) publicly issued 10M convertible corporate bond lots on May 24, 2021. Each lot had a par value of RMB 100, the total issuance amount was RMB 1 billion, and the term was 6 years.

(II) Details of the Listing of the Convertible Bonds

With the approval of the Shanghai Stock Exchange’s self-regulatory supervision decision letter [2021] No. 247, the Company’s RMB 1 billion convertible corporate bonds issued in this offering have been listed for trading on the Shanghai Stock Exchange starting from June 17, 2021. The bond short name is “Yifang Convertible Bonds,” and the bond code is “111000.”

(III) Details of Adjustments to the Conversion Price of the Convertible Bonds

Pursuant to relevant provisions and the Company’s “Convertible Corporate Bonds Offering Memorandum” (hereinafter referred to as the “Offering Memorandum”), the “Yifang Convertible Bonds” issued by the Company in this offering became convertible into the Company’s shares starting from November 29, 2021. The initial conversion price was RMB 20.53 per share, and the latest conversion price is RMB 17.35 per share. The adjustments to the conversion price are as follows:

Because the Company implemented the 2021 restricted stock incentive plan, resulting in changes to the total share capital, the conversion price of the Company’s convertible bonds was adjusted from RMB 20.53 per share to RMB 20.10 per share. The adjusted conversion price became effective starting from October 29, 2021. For details, please refer to the Company’s announcement disclosed on October 28, 2021, “Announcement on the Adjustment of the Conversion Price of Convertible Corporate Bonds” (Announcement No.: 2021-094).

Because the Company implemented its 2021 profit distribution, after the cash dividend was distributed in this round, the conversion price of the “Yifang Convertible Bonds” was adjusted from RMB 20.10 per share to RMB 19.86 per share. The adjusted conversion price became effective starting from May 23, 2022. For details, please refer to the announcement disclosed on May 17, 2022, “Announcement on the Adjustment of the Conversion Price of Convertible Corporate Bonds” (Announcement No.: 2022-031).

Because the Company implemented its 2022 profit distribution, after the cash dividend was distributed in this round, the conversion price of the “Yifang Convertible Bonds” was adjusted from RMB 19.86 per share to RMB 19.75 per share. The adjusted conversion price became effective starting from July 10, 2023. For details, please refer to the announcement disclosed on July 4, 2023, “Announcement on the Adjustment of the Conversion Price of Convertible Corporate Bonds” (Announcement No.: 2023-049).

Because the Company implemented its 2023 profit distribution, after the cash dividend was distributed in this round, the conversion price of the “Yifang Convertible Bonds” was adjusted from RMB 19.75 per share to RMB 19.59 per share. The adjusted conversion price became effective starting from June 18, 2024. For details, please refer to the announcement disclosed on June 12, 2024, “Announcement on the Adjustment of the Conversion Price of Convertible Corporate Bonds” (Announcement No.: 2024-052).

Because the Company implemented its 2024 profit distribution, after the cash dividend was distributed in this round, the conversion price of the “Yifang Convertible Bonds” was adjusted from RMB 19.59 per share to RMB 19.55 per share. The adjusted conversion price became effective starting from July 10, 2025. For details, please refer to the announcement disclosed on July 4, 2025, “Announcement on the Adjustment of the Conversion Price of Convertible Corporate Bonds” (Announcement No.: 2025-043).

Because the “Yifang Convertible Bonds” triggered the downward adjustment clause of the conversion price, and pursuant to the relevant terms of the “Offering Memorandum,” upon authorization by the Company’s 2025 second extraordinary general meeting of shareholders, the board of directors decided to adjust the conversion price of the “Yifang Convertible Bonds” downward from RMB 19.55 per share to RMB 17.35 per share. The adjusted conversion price of the “Yifang Convertible Bonds” became effective starting from September 11, 2025. For details, please refer to the announcement disclosed on September 10, 2025, “Announcement on the Downward Adjustment of the Conversion Price of the ‘Yifang Convertible Bonds’ and Suspension of Conversion” (Announcement No.: 2025-070).

II. Details of Conversion of Convertible Bonds in This Round

During the first quarter of 2026 (i.e., from January 1, 2026 to March 31, 2026), a total of RMB 34,000 of “Yifang Convertible Bonds” was converted into the Company’s shares. The cumulative number of shares formed by conversion is 1,958 shares, accounting for 0.0005% of the total number of shares issued by the Company before the conversion of the convertible bonds.

As of March 31, 2026, a cumulative RMB 797,000 of “Yifang Convertible Bonds” has been converted into the Company’s shares. The cumulative number of shares formed by conversion is 40,027 shares, accounting for 0.0096% of the total number of shares issued by the Company before the conversion of the convertible bonds.

As of March 31, 2026, the amount of convertible bonds not yet converted is RMB 999,203,000, accounting for 99.9203% of the total amount of convertible bonds issued.

III. Details of Changes in Share Capital

After conversion of the convertible bonds in this round, the Company’s share capital structure changes as follows:

Unit: shares

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IV. Other Matters

Contact department: Office of the Secretary to the Board of Directors

Inquiry phone: 021-37217999

This announcement is hereby given.

Board of Directors of Shanghai Yifang Cable Co., Ltd.

April 2, 2026

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