Hengyi Petrochemical halts convertible bond conversion during resale period

Hengyi Petrochemical (SZSE: 000703) announced the suspension of conversion for its "Hengyi Convertible Bonds" (127022) from January 24, 2025, to February 7, 2025. This suspension is due to the activation of the conditional resale clause, triggered by the stock price remaining below 70% of the conversion price (9.20 CNY/share) for 30 consecutive trading days. The resale offer period will run for five trading days. Conversion will resume on February 10, 2025. The bonds, initially issued on October 22, 2020, with a total face value of 20 billion CNY, are listed on the Shenzhen Stock Exchange. Trading of the bonds will continue as usual during the conversion suspension period.