Yixin Group Ltd. has issued a conversion notice to fully convert its interest-free convertible notes in Yusheng Holdings Limited into non-voting preferred shares, a transaction classified as a discloseable transaction under Hong Kong listing rules. The notes comprise a US$260 million 2018 convertible note convertible into 13.0 million Series Pre-A preferred shares at US$20.00 per share, a US$43 million 2019 convertible note convertible into 2.15 million Series Pre-A preferred shares at US$20.00 per share, a US$12.25 million 2020 convertible note convertible into 548,718 Series B preferred shares at US$22.32 per share, and a US$12 million 2023 convertible note convertible into 462,981 Series C-2 preferred shares at US$25.92 per share. Upon completion, which is subject to Yusheng’s reorganization and required approvals, Yixin will hold 16,161,699 preferred shares in total, representing about 44.23 percent of Yusheng’s enlarged share capital, but with no voting rights and no consolidation of Yusheng’s results into Yixin’s accounts.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Yixin Group Ltd. published the original content used to generate this news brief via IIS, the Issuer Information Service operated by the Hong Kong Stock Exchange (HKex) (Ref. ID: HKEX-EPS-20260302-12036770), on March 02, 2026, and is solely responsible for the information contained therein.