Huayou convertible bonds hit 10% conversion, triggering early redemption

Zhejiang Huayou Cobalt announced that as of September 12, 2025, 5.74 bn yuan of its "Huayou Convertible Bonds" have been converted into 166,587,747 shares, representing 10.42% of the company's total issued shares prior to conversion. This conversion, along with 8,000 yuan in redemptions, significantly alters the company's capital structure. Remaining unconverted bonds amount to 1.86 bn yuan, 24.52% of the initial issuance.

The company also confirmed the early redemption of its "Huayou Convertible Bonds," with the redemption registration date set for September 26, 2025. The redemption price is 100.8918 yuan per bond, and the proceeds will be distributed on September 29, 2025. This decision follows the stock price meeting the redemption conditions, with the share price exceeding 130% of the conversion price for 15 trading days.

The last trading day for the convertible bonds will be September 23, 2025, and the last conversion day will be September 26, 2025. Post-redemption, "Huayou Convertible Bonds" will be delisted from the Shanghai Stock Exchange on September 29, 2025. Investors are advised to convert or sell their bonds to avoid potential losses due to the difference between the secondary market price and the redemption price.