Huayou Cobalt to redeem convertible bonds early after stock rally

Zhejiang Huayou Cobalt's convertible bonds will be subject to early redemption after the company’s stock price met the conditional redemption clause. From July 25, 2025, to August 29, 2025, the stock price closed above 130% of the current conversion price (34.43 yuan per share), specifically reaching 44.759 yuan per share, for at least 15 trading days. The board of directors approved the early redemption on August 29, 2025.

Bondholders can convert their bonds at 34.43 yuan per share or sell them on the secondary market within the specified period. Otherwise, they will be compulsorily redeemed at their par value of 100 yuan per bond plus accrued interest, potentially incurring significant investment losses. The company will disclose further details on the redemption process, price, payment methods, and timelines.

In other news, Zhejiang Huayou Cobalt plans to revise its governance structure, including the cancellation of the supervisory board and adjustments to the board of directors' size, increasing it to 8 members with the addition of one employee director. These changes are set for shareholder approval on September 8, 2025, at the company’s third extraordinary general meeting.