Shanghai Xuerong suspends convertible bond conversion amid ownership change

Shanghai Xuerong Biotechnology (SZSE:300511) announced the suspension of the conversion of its "Xuerong" convertible bonds (123056) effective March 10, 2025. This decision is linked to the ongoing planned change in the company's control, initiated by shareholder Yang Yongping. Trading in the company's stock and bonds were initially halted on March 6, 2025, and will now continue to be suspended. The company anticipates the trading halt will last no more than three trading days. The company stated that the overall scheme is still under consultation, and is unable to resume trading and conversion on the morning of March 10. The company assures investors it will comply with disclosure requirements and promptly release updates.