Huahai Pharmaceutical convertible bonds trigger optional put

Zhejiang Huahai Pharmaceutical Co. has issued an announcement regarding the optional put for its "Huahai Convertible Bonds." The put option is triggered because the company's stock price closed below 70% of its current conversion price for 30 consecutive trading days between November 2, 2025, and December 12, 2025. Bondholders can exercise their put option between December 22, 2025, and December 26, 2025.

The put price is CNY 100.30 per bond, which includes accrued interest and tax. This price is calculated based on a 2.00% annual coupon rate for the sixth year, over 54 days from November 2, 2025, to December 26, 2025, resulting in an interest component of approximately CNY 0.30 per bond. The payment date for the put funds is December 31, 2025.

During the put period, "Huahai Convertible Bonds" will continue to trade, but conversion into shares will be suspended. Holders retain the right to choose whether to exercise the put option, as it is not mandatory. The company reminds investors that the current market price of "Huahai Convertible Bonds" is above the put price, meaning exercising the option may result in losses.