Huayou Cobalt adjusts convertible bond conversion price

Zhejiang Huayou Cobalt (SSE:603799) announced an adjustment to the conversion price of its "Huayou Convertible Bonds" (SSE:113641) from 35.03 RMB to 34.92 RMB per share, effective March 12, 2025. The adjustment stems from the implementation of the company's 2024 restricted stock incentive plan and the completion of the initial grant registration. Trading of the bonds will be suspended on March 11, 2025, and will resume on March 12, 2025. The initial conversion price for the bonds was 110.26 RMB per share, with multiple adjustments occurring since their issuance in February 2022. The company's announcement details the formulas and calculations behind the latest adjustment, in accordance with the terms outlined in the bond's offering prospectus.