Shanghai Electric Group (02727): The controlling shareholder is about to enter the conversion period for the private placement of convertible corporate bonds.

Shanghai Electric Group (02727) announced that, according to the relevant regulations and the provisions of the "Shanghai Electric Group Holding Group Limited 2024 Exchangeable Corporate Bonds (First Tranche) Offering Circular for Professional Investors", the conversion period for 24 Electric EB is from September 30, 2024 to March 27, 2027 (if it falls on a statutory holiday or rest day, it will be extended to the next working day), with an initial conversion price of RMB 4.80 per share. As of the date of this announcement, Electric Holdings holds 7,442,101,913 shares of the company's A shares, accounting for 47.77% of the total share capital, and directly and through its wholly-owned subsidiary Shanghai Electric Group Holdings (Hong Kong) Limited holds 313,642,000 shares of the company's H shares, accounting for 2.01% of the total share capital, Electric Holdings holds a total of 49.78% of the company's shares, making it the controlling shareholder of the company. Electric Holdings has pledged 1.71 billion shares of the company's A shares, accounting for 10.98% of the total share capital, due to the current convertible bonds. The uncertainty exists on whether the holders of the current convertible bonds will choose to convert and the actual number of conversions. Assuming that all the convertible bonds held by the holders of the current convertible corporate bonds are used to exchange company stocks (the proportion of the conversion shares to the total company shares is 6.69%), there will be no change in the controlling shareholder and actual controller of the company.