Shanghai Aladdin Biochemical Technology Co., Ltd. Recent Convertible Bond Conversion Results and Changes in Equity of Controlling Shareholders, Actual Controllers, and Their Concerted Parties

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Stock code: 688179 Stock abbreviation: Aladdin Announcement No.: 2026-022

Bond code: 118006 Convertible bond abbreviation: Aladdin Convertible Bond

Shanghai Aladdin Biochemical Technology Co., Ltd.

Announcement on the Recent Results of Convertible Bond Conversion and Changes in Equity Interests of the Controlling Shareholder, the Actual Controller, and Their Consistent Action Parties

The board of directors of the Company and all its directors warrant that there are no false records, misleading statements, or major omissions in the content of this announcement, and they assume legal responsibility for the truthfulness, accuracy, and completeness of the content in accordance with the law.

Key Matters:

● Cumulative conversion status: Shanghai Aladdin Biochemical Technology Co., Ltd. (hereinafter referred to as the “Company”) issued convertible bonds for public offering “Aladdin Convertible Bond” (阿拉转债). Conversion started on September 21, 2022. As of April 3, 2026, RMB 97,030,000 of “Aladdin Convertible Bond” has been converted into Company shares, with a conversion quantity of 7,264,854 shares, accounting for 5.141194% of the Company’s total issued shares before conversion of “Aladdin Convertible Bond”.

● Unconverted convertible bond status: As of April 3, 2026, the amount of convertible bonds that have been redeemed and canceled is RMB 7,000, accounting for 0.001807% of the total issuance of convertible bonds; the amount of “Aladdin Convertible Bond” that has not yet been converted is RMB 290,370,000, accounting for 74.953536% of the total issuance of “Aladdin Convertible Bond”.

● Recent conversion status: Between April 1, 2026 and April 3, 2026, “Aladdin Convertible Bond” converted RMB 90,883,000 into Company shares, with a cumulative conversion quantity of 6,822,965 shares, accounting for 4.828477% of the Company’s total issued shares before conversion of “Aladdin Convertible Bond”.

I. Overview of the Issuance and Listing of Convertible Bonds

(1) Issuance and Listing of Convertible Bonds

With approval from the China Securities Regulatory Commission (CSRC) as stated in document No. [2022]72 (证监许可〔2022〕72号), the Company issued 3.87M convertible bonds to the public on March 15, 2022. Each bond has a face value of RMB 100, and the total issuance amount is RMB 387.40 million (RMB 3.87M).

With approval from the self-regulatory supervision decision letter No. [2022]88 of the Shanghai Stock Exchange, the Company’s RMB 387.4M convertible bond was listed for trading on the Shanghai Stock Exchange starting from April 12, 2022. The bond abbreviation is “Aladdin Convertible Bond” (阿拉转债), and the bond code is “118006”.

(2) Adjustment to the Conversion Price of Convertible Bonds

Pursuant to relevant regulations and the terms set forth in the “Offering Memorandum for the Public Issuance of Convertible Bonds by Shanghai Aladdin Biochemical Technology Co., Ltd.” (hereinafter referred to as the “Offering Memorandum”), the “Aladdin Convertible Bond” issued by the Company is convertible into the Company’s shares starting from September 21, 2022. The initial conversion price is RMB 63.72 per share, and the latest conversion price is RMB 13.32 per share. The adjustments to the conversion price in prior instances are as follows:

Because the Company implemented its 2021 annual equity distribution plan, the conversion price was adjusted to RMB 45.23 per share starting from May 26, 2021. For details, please refer to the Company’s announcement disclosed on May 20, 2022 on the SSE website (www.sse.com.cn), “Shanghai Aladdin Biochemical Technology Co., Ltd. Announcement on the Adjustment of the Conversion Price of Convertible Bonds in Connection with the 2021 Annual Equity Distribution” (Announcement No.: 2022-037).

Upon triggering the downward adjustment clause for the conversion price specified in the Offering Memorandum, the Company held the 4th meeting of the 4th session of the board of directors on December 1, 2022 and the 4th annual temporary general meeting on December 19, 2022, where it deliberated and approved the “Proposal on Downward Adjustment of the Conversion Price of the Aladdin Convertible Bond”. On December 19, 2022, the Company held the 5th meeting of the 4th session of the board of directors, where it deliberated and approved the “Proposal on Downward Adjustment of the Conversion Price of Convertible Bonds”. Starting from December 21, 2022, the conversion price of “Aladdin Convertible Bond” was adjusted from RMB 45.23 per share to RMB 39.88 per share. For details, please refer to the Company’s announcement disclosed on December 20, 2022 on the Shanghai Stock Exchange website (www.sse.com.cn), “Shanghai Aladdin Biochemical Technology Co., Ltd. Announcement on the Downward Adjustment of the Conversion Price of the Aladdin Convertible Bond” (Announcement No.: 2022-090).

On June 15, 2023, the Company received the “Certificate of Securities Change Registration” issued by Shanghai Branch of China Securities Depository and Clearing Corporation Limited. The Company completed the share registration for the first vesting period under its 2021 restricted stock incentive plan. New shares were added by 206.48k shares (20.6484 ten-thousand shares). As a result of the registration for the equity incentive vesting, the Company’s total share capital changed from 141,313,907 shares to 141,520,391 shares. On June 16, 2023, the Company held the 9th meeting of the 4th session of the board of directors, which deliberated and approved the “Proposal on Adjusting the Conversion Price of the Convertible Bond ‘Aladdin Convertible Bond’”. The conversion price of “Aladdin Convertible Bond” was adjusted from RMB 39.88 per share to RMB 39.86 per share, and the adjusted conversion price became effective starting from June 20, 2023. For details, please refer to the Company’s announcement disclosed on June 19, 2023 on the Shanghai Stock Exchange website (www.sse.com.cn), “Shanghai Aladdin Biochemical Technology Co., Ltd. Announcement on the Adjustment of the Conversion Price of the Convertible Bond ‘Aladdin Convertible Bond’” (Announcement No.: 2023-022).

Because the Company implemented its 2022 annual equity distribution plan, the conversion price was adjusted to RMB 28.29 per share starting from July 7, 2023. For details, please refer to the Company’s announcement disclosed on July 3, 2023 on the SSE website (www.sse.com.cn), “Shanghai Aladdin Biochemical Technology Co., Ltd. Announcement on Adjusting the Conversion Price of Convertible Bonds in Connection with the 2022 Annual Equity Distribution” (Announcement No.: 2023-026).

Because the Company implemented its 2023 annual equity distribution plan, the conversion price was adjusted to RMB 19.99 per share starting from May 21, 2024. For details, please refer to the Company’s announcement disclosed on May 14, 2024 on the SSE website (www.sse.com.cn), “Shanghai Aladdin Biochemical Technology Co., Ltd. Announcement on Adjusting the Conversion Price of Convertible Bonds in Connection with the 2023 Annual Equity Distribution” (Announcement No.: 2024-027).

Because the Company implemented its equity distribution plan for the first three quarters of 2024, the conversion price was adjusted to RMB 19.89 per share starting from February 26, 2025. For details, please refer to the Company’s announcement disclosed on February 20, 2025 on the SSE website (www.sse.com.cn), “Shanghai Aladdin Biochemical Technology Co., Ltd. Announcement on Adjusting the Conversion Price of the Aladdin Convertible Bond when Implementing the Equity Distribution Plan for the First Three Quarters of 2024” (Announcement No.: 2025-011).

Upon triggering the downward adjustment clause for the conversion price specified in the Offering Memorandum, the Company held the 34th meeting of the 4th session of the board of directors on March 6, 2025 and the 2nd extraordinary general meeting on March 24, 2025 respectively, where it deliberated and approved the “Proposal on Downward Adjustment of the Conversion Price of the Aladdin Convertible Bond”. On March 24, 2025, the Company held the 35th meeting of the 4th session of the board of directors, where it deliberated and approved the “Proposal on Downward Adjustment of the Conversion Price of Convertible Bonds”. Starting from March 26, 2025, the conversion price of “Aladdin Convertible Bond” was adjusted from RMB 19.89 per share to RMB 16.17 per share. For details, please refer to the Company’s announcement disclosed on March 25, 2025 on the Shanghai Stock Exchange website (www.sse.com.cn), “Shanghai Aladdin Biochemical Technology Co., Ltd. Announcement on the Downward Adjustment of the Conversion Price of the Aladdin Convertible Bond and Resumption after Suspension of Conversion Trading” (Announcement No.: 2025-023).

Because the Company implemented its 2024 annual equity distribution plan, the conversion price was adjusted to RMB 13.39 per share starting from June 5, 2025. For details, please refer to the Company’s announcement disclosed on May 29, 2025 on the SSE website (www.sse.com.cn), “Shanghai Aladdin Biochemical Technology Co., Ltd. Announcement on Adjusting the Conversion Price of the Aladdin Convertible Bond when Implementing the 2024 Annual Equity Distribution Plan” (Announcement No.: 2025-045).

Because the Company implemented its equity distribution plan for the first three quarters of 2025, the conversion price was adjusted to RMB 13.32 per share starting from January 19, 2026. For details, please refer to the Company’s announcement disclosed on January 13, 2026 on the SSE website (www.sse.com.cn), “Shanghai Aladdin Biochemical Technology Co., Ltd. Announcement on Adjusting the Conversion Price of the Aladdin Convertible Bond when Implementing the Equity Distribution Plan for the First Three Quarters of 2025” (Announcement No.: 2026-005).

(3) Repurchase (Redemption) of Convertible Bonds

On November 18, 2024, the Company held the first 2024 bondholders meeting of “Aladdin Convertible Bond” and the third extraordinary general meeting of 2024, where it deliberated and approved the “Proposal on Adjusting the Investment Amount of Certain Projects Raised by the Proceeds and Internal Investment Structure”. Adjustments were made to the investment amount and internal investment structure of certain projects raised by the proceeds under “Aladdin Convertible Bond”. Pursuant to the additional repurchase terms of “Aladdin Convertible Bond” under the Company’s “Offering Memorandum”, the additional repurchase terms for “Aladdin Convertible Bond” became effective. The repurchase application period for this repurchase was from November 29, 2024 to December 5, 2024. The number of valid applications in this repurchase was 70 bonds, with a face value of RMB 7,000. Based on the number of valid applications, Shanghai Branch of China Securities Depository and Clearing Corporation Limited canceled “Aladdin Convertible Bond” with a face value of RMB 7,000 on December 10, 2024. For details, please refer to the Company’s announcement disclosed on December 10, 2024 on the SSE website (www.sse.com.cn), “Shanghai Aladdin Biochemical Technology Co., Ltd. Announcement on the Repurchase Results of the Aladdin Convertible Bond” (Announcement No.: 2024-081).

II. Conversion of Convertible Bonds in This Period

The conversion period of “Aladdin Convertible Bond” runs from September 21, 2022 to March 14, 2028. Between April 1, 2026 and April 3, 2026, “Aladdin Convertible Bond” converted RMB 90,883,000 into Company shares, with a cumulative conversion quantity of 6,822,965 shares, accounting for 4.828477% of the Company’s total issued shares before conversion of “Aladdin Convertible Bond”.

As of April 3, 2026, the amount of convertible bonds that have not been converted is RMB 290,370,000, accounting for 74.953536% of the total issuance of “Aladdin Convertible Bond”.

III. Changes in Share Capital

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IV. Situation Where the Percentage of Shares Held by the Controlling Shareholder, the Actual Controller, and Their Consistent Action Parties Passively Reached the Disclosure Threshold

Before and after this change in share capital, the situation where the controlling shareholder and the actual controller and their consistent action parties passively reached the information disclosure threshold is as follows:

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Note: 1. If there are any rounding differences in the above data and indicators, they are due to rounding to the nearest whole number.

2. The total share capital before the change is based on the data as of March 31, 2026 (333,494,990 shares), and the total share capital after the change is based on the data as of April 3, 2026 (340,317,955 shares).

3. After this change, the shareholding numbers of the Company’s controlling shareholder, the actual controller Xu Jiuzhen, Zhao Liping, and their consistent action party Shanghai Shichuang Supply Chain Co., Ltd. remain unchanged. Due to the impact of the conversion of the Company’s “Aladdin Convertible Bond”, the total share capital increased, resulting in the combined shareholding percentage being passively diluted from 43.74% to 42.87%. The equity change passively reached the integer multiple of 1%.

V. Other

If investors need to learn the detailed information about the Aladdin Convertible Bond, please refer to the “Offering Memorandum for the Public Issuance of Convertible Bonds by Shanghai Aladdin Biochemical Technology Co., Ltd. to Unspecified Persons”, disclosed by the Company on March 11, 2022 on the SSE website.

Contact department: Securities Affairs Department

Contact number: 021-50560989

Contact email: aladdindmb@163.com

This announcement is hereby issued.

Shanghai Aladdin Biochemical Technology Co., Ltd.

Board of Directors

April 3, 2026

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