Hengyi Petrochemical halts convertible bond conversions during resale period

Hengyi Petrochemical (SZSE: 000703) announced the suspension of conversions for its "Hengyi Convertible Bonds" (127022) from January 24, 2025, to February 7, 2025. This suspension is due to the activation of a conditional put option, triggered by the stock price trading below 70% of the conversion price (9.20 CNY/share) for 30 consecutive trading days. The put option is active during the final two interest payment periods of the bonds. Trading of the convertible bonds will continue as normal. Conversions will resume on February 10, 2025. The original conversion period runs from April 22, 2021, to October 15, 2026. The bonds were issued in October 2020 with a total face value of 20 billion CNY.