Zhitong Financial and Economic APP News, Shanghai Electric (02727) issued an announcement that the Electric Corporation issued the first phase of exchangeable bonds in 2021 on March 23, 2021, the underlying stock is the company's A-share shares, the size of the issue is RMB 1 billion, the issuance period is 3 years, and the coupon rate of the bond is 0.01%.

According to the relevant regulations and the agreement of Shanghai Electric (Group) Corporation's prospectus for non-public issuance of exchangeable corporate bonds (Phase I) in 2021 (for qualified investors), the initial conversion period of "21 Electric EB" is RMB5.58 per share from September 23, 2021 to March 23, 2024.

As of the date of this announcement, the Electric Corporation holds 8.253 billion A shares of the company, accounting for 52.55% of the total share capital of the company, and 314 million H shares of the company directly and through the wholly-owned subsidiary Shanghai Electric Group Hong Kong Co., Ltd., accounting for 2.00% of the total share capital of the company. The Electric Corporation holds a total of 54.55% of the company's shares and is the controlling shareholder of the company. Due to the first phase of exchangeable bonds of the Electric Corporation in 2021, the Electric Corporation has pledged 285 million A-shares of the company, accounting for 1.81% of the company's total share capital. There is uncertainty as to whether the holders of the first phase of the convertible bonds of the Electric Corporation in 2021 will choose to swap shares and the actual number of convertible bonds, assuming that all the exchangeable corporate bonds held by the holders of the first phase of exchangeable bonds of the Electric Corporation in 2021 will be used to exchange shares of the company, the controlling shareholders and the actual controllers of the company will not change.