新疆天业股份有限公司“天业转债”转股结果及股份变动公告详解

要点摘要

• 可转债转股进展缓慢：截至2026年3月31日，“天业转债”累计转股金额仅为248.30万元，累计转股股份为441,300股，占转股前公司总股本的0.0258%。
• 绝大多数可转债尚未转股：截至2026年3月31日，未转股的“天业转债”金额高达299,751.70万元，占发行总量的99.9172%。
• 最新转股价格低于初始价格：“天业转债”初始转股价为6.90元/股，目前最新转股价格为5.60元/股。
• 本季度转股情况：2025年12月31日至2026年3月31日期间，转股金额为241.80万元，转股股份为431,775股，占转股前总股本的0.0253%。
• 股本结构变化：截至2026年3月31日，公司总股本变更为1,707,795,560股，全部为无限售条件流通股份。
• 限售股全面上市流通：原限售股份共438,575,248股（包括非公开发行及转股形成的股份）已于2023年11月13日全部上市流通。

公告详细内容与对投资者的影响

新疆天业股份有限公司于2026年4月2日发布了关于“天业转债”转股结果及股份变动的公告。此次公告对于关注公司资本结构、可转债转股进展以及未来可能存在的稀释风险的投资者具有重要参考价值。

1. 可转债发行及转股基本情况

公司于2022年6月23日公开发行了30,000,000张（300万手）可转换公司债券，总发行额为300,000万元，票面利率呈阶梯式递增，期限6年。该债券于2022年7月19日在上交所挂牌，债券简称“天业转债”。自2022年12月29日起进入转股期，转股截止日为2028年6月22日。
“天业转债”初始转股价格为6.90元/股，当前调整后转股价为5.60元/股，已反映公司股价波动及分红、送股等情况。

2. 转股进展及股份变动

自转股期起始至2026年3月31日，累计仅有441,300股通过转股形成，转股金额为248.30万元，转股率极低，仅占总股本的0.0258%。本季度（2025年12月31日至2026年3月31日）转股金额为241.80万元，股份为431,775股。
截至2026年3月31日，尚有99.9172%的“天业转债”未转股（对应金额为299,751.70万元），投资者对转股意愿较低，原因或与当前转股价格及市场价格倒挂有关，值得关注未来转股价格调整及相关政策变化对转股率的影响。

3. 股本结构变化及限售股解禁

公司2020年非公开发行387,205,386股限售股份及转股形成的51,369,862股限售股份（合计438,575,248股）已于2023年11月13日全部上市流通。
目前公司股份全部为无限售条件流通股，股权流动性得到显著提升。2026年3月31日公司总股本为1,707,795,560股，较转股期初小幅增加。

4. 对股东及投资者的重要提示与潜在影响

• 转股进度缓慢：转股率极低，说明绝大部分可转债持有人选择持有债券而非转股，短期内对公司总股本稀释影响有限。
• 未来稀释压力需关注：若未来市场环境变化或转股价格进一步下调，存在大规模转股导致股本稀释的潜在可能，需密切跟踪后续转股动态。
• 流通性提升：所有限售股已解禁，公司股票流通性增强，或对股票交易活跃度产生正面影响。
• 转股价格调整动向：转股价调整至5.60元/股，已接近当前市场价，未来如股价上涨，转股意愿将提升，需关注可能的股本增发对股价的压力。

5. 投资者联系方式

如有任何疑问，可联系新疆天业股份有限公司证券部，电话0993-2623118、2623163，邮箱：[email protected]。

结论

本次公告反映出“天业转债”转股进展缓慢，当前对公司股本结构影响有限，但未来转股价格或市场环境变化可能带来潜在稀释压力；同时全部限售股已流通，提升了股票的流动性。投资者应持续关注转股价格调整及转股率变化，警惕潜在的股本增发风险。

免责声明：本文内容仅供投资者参考，不构成任何投资建议。投资者据此操作，风险自担。

English Translation

Xinjiang Tianye Co., Ltd. “Tianye Convertible Bonds” Conversion Result and Share Capital Change Announcement Explained

Key Points Summary

• Slow Convertible Bond Conversion Progress: As of March 31, 2026, cumulative conversion amount of “Tianye Convertible Bonds” was only RMB 2.483 million, forming 441,300 shares, accounting for just 0.0258% of the company’s pre-conversion total share capital.
• Vast Majority Unconverted: As of March 31, 2026, unconverted amount of the bonds was as high as RMB 2,997.517 million, 99.9172% of the total issue.
• Latest Conversion Price Lower Than Initial: The initial conversion price was RMB 6.90/share, latest adjusted to RMB 5.60/share.
• This Quarter’s Conversion: From Dec 31, 2025, to Mar 31, 2026, conversion amount was RMB 2.418 million, 431,775 shares, accounting for 0.0253% of pre-conversion capital.
• Share Capital Structure Change: As of Mar 31, 2026, total share capital increased to 1,707,795,560 shares, all freely tradable.
• All Restricted Shares Now Tradable: Original 438,575,248 restricted shares (including private placement and conversion) were all listed and tradable since Nov 13, 2023.

Announcement Details and Impact on Investors

On April 2, 2026, Xinjiang Tianye Co., Ltd. released an announcement on the results of “Tianye Convertible Bonds” conversion and resulting share capital changes. This is crucial for investors concerned about capital structure, conversion progress, and potential dilution risks.

1. Convertible Bond Issuance and Conversion Overview

The company issued 30 million convertible bonds (total RMB 3 billion) on June 23, 2022, with step-up interest rates over 6 years. The bonds were listed on July 19, 2022, on the Shanghai Stock Exchange (code: 110087). The conversion period started on Dec 29, 2022, and ends June 22, 2028.
Initial conversion price was RMB 6.90/share, latest adjusted to RMB 5.60/share, reflecting share price changes and corporate actions.

2. Conversion Progress and Share Capital Changes

From the start of the conversion period to Mar 31, 2026, only 441,300 shares were converted (RMB 2.483 million), a very low conversion rate (0.0258%). In the latest quarter, 431,775 shares (RMB 2.418 million) were converted.
As of Mar 31, 2026, 99.9172% of the bonds remain unconverted (RMB 2,997.517 million), indicating holders prefer holding bonds over conversion. This may be due to the current conversion price being higher than the market price. Future policy or price changes could impact conversion rates.

3. Share Structure and Restricted Shares Unlock

In November 2023, 438,575,248 previously restricted shares (from private placement and prior conversions) became fully tradable.
As of Mar 31, 2026, all shares are freely tradable, improving liquidity. Total share capital stands at 1,707,795,560 shares, up slightly since the start of the conversion period.

4. Key Risks and Considerations for Investors

• Slow Conversion Means Minimal Dilution for Now: With very low conversion rate, short-term dilution pressure is limited.
• Potential Dilution Risk Remains: If the conversion price is adjusted down or market price rises, large scale conversion and share capital expansion may occur in the future.
• Liquidity Improved: Full unlock of all shares increases stock liquidity, possibly boosting trading activity.
• Watch for Conversion Price Adjustments: Currently, the conversion price nearly matches market price; any rise in share price could result in higher conversion rates and thus dilution.

5. Investor Contact Information

For inquiries, contact Xinjiang Tianye Co., Ltd. Securities Department: 0993-2623118, 2623163, email: [email protected].

Conclusion

This announcement shows “Tianye Convertible Bonds” are converting very slowly, so current dilution risk is minor. Should the market price exceed conversion price or conversion price be adjusted, future dilution risk may increase. Meanwhile, all shares are now tradable, improving liquidity. Investors should monitor conversion price and conversion rate changes and be aware of possible future share capital expansion.

Disclaimer: The above is for reference only and does not constitute investment advice. Investors act at their own risk.

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