Huahai convertible bonds: put option triggered by low stock prices

Zhejiang Huahai Pharmaceutical Co., Ltd. has announced an optional put option for its "Huahai convertible bonds" (bond code: 110076), with a put price of RMB 100.30 per bond, inclusive of current interest and tax. This option was triggered because the company's stock price traded below 70% of the current conversion price for 30 consecutive trading days between November 2, 2025, and December 12, 2025. The put option period will run from December 22, 2025, to December 26, 2025, with put proceeds to be disbursed on December 31, 2025.

During the put option period, the "Huahai convertible bonds" will continue to trade but will be suspended from conversion into shares. Bondholders electing to exercise the put option will sell their bonds at the specified price. The company advises bondholders to consider the investment risk, as the closing price of the "Huahai convertible bonds" on the last trading day prior to this announcement was higher than the put price, potentially leading to losses for those choosing to sell.

The calculated interest for the put price is based on a 2.00% annual coupon rate for the sixth year, over 54 calendar days (from November 2, 2025, to December 26, 2025), resulting in approximately RMB 0.30 per bond. The company assures bondholders that exercising the put option is voluntary and not mandatory.