According to Tianhe Solar's announcement, as of December 31, 2025, a total of 3,014 billion yuan of “Tian23 Convertible Bonds” had been converted into company shares, with 188 million shares transferred, accounting for 8.66% of the total number of shares issued by the company before the conversion; the amount of convertible bonds that had not yet been converted was 5.851 billion yuan, accounting for 66.01% of the total amount issued. From October 1 to December 31, 2025, a total of 3,013 billion yuan of “Tian23 Convertible Bonds” was converted, and 188 million shares were converted. After the share transfer, the total share capital of the company increased from 2,179 billion shares to 2,343 million shares. The shareholding ratio of shareholders such as controlling shareholder Gao Jifan and his co-actors was passively diluted due to share transfers, and Jiangsu Youze Venture Capital Group Co., Ltd. completed the holdings reduction plan.

According to Tianhe Solar's announcement, as of December 31, 2025, a total of 3,014 billion yuan of “Tian23 Convertible Bonds” had been converted into company shares, with 188 million shares transferred, accounting for 8.66% of the total number of shares issued by the company before the conversion; the amount of convertible bonds that had not yet been converted was 5.851 billion yuan, accounting for 66.01% of the total amount issued. From October 1 to December 31, 2025, a total of 3,013 billion yuan of “Tian23 Convertible Bonds” was converted, and 188 million shares were converted. After the share transfer, the total share capital of the company increased from 2,179 billion shares to 2,343 million shares. The shareholding ratio of shareholders such as controlling shareholder Gao Jifan and his co-actors was passively diluted due to share transfers, and Jiangsu Youze Venture Capital Group Co., Ltd. completed the holdings reduction plan.