JIANGSU EXPRESS (00177): A subsidiary exercising the convertible bond conversion rights of Suzu Convertible Bonds.

JIANGSU EXPRESS (00177) announced on September 25, 2024, that Guangjing Xicheng Company exercised its conversion rights for SuZu Convertible Bonds. As of the date of this announcement, the conversion price for SuZu Convertible Bonds is RMB 3.05 per share, and Guangjing Xicheng Company holds convertible bonds that can be exchanged for 128 million shares of Jiangsu Financial Leasing A-shares. As of September 17, 2024 (the date of Jiangsu Financial Leasing's last public disclosure of its total A-share common stock), Jiangsu Financial Leasing had a total of 4.697 billion A-share common stocks, of which Guangjing Xicheng Company held 328 million shares, accounting for approximately 6.98% of Jiangsu Financial Leasing's equity. Assuming that Jiangsu Financial Leasing did not have any increase or decrease in its number of shares other than the additional 128 million shares of A-share common stock due to the exercise of conversion rights by Guangjing Xicheng Company, Guangjing Xicheng Company would hold 456 million shares of Jiangsu Financial Leasing's A-share common stock, accounting for approximately 9.45% of Jiangsu Financial Leasing's equity after the conversion transaction. The exercise of conversion rights in this instance can prevent Guangjing Xicheng Company's "SuZu Convertible Bonds" from being forcibly redeemed, avoiding investment losses, and also enable Guangjing Xicheng Company to maintain its shareholding percentage in Jiangsu Financial Leasing, preventing dilution of shareholder rights, dilution of profits and cash dividends, and safeguarding Guangjing Xicheng Company's relevant interests as a shareholder of Jiangsu Financial Leasing and the company's relevant interests.