Hengyi Petrochemical opts against lowering convertible bond price

Hengyi Petrochemical (SZSE:000703) announced that its 12th Board of Directors, at its 24th meeting held on June 30, 2025, resolved not to adjust downwards the conversion price of its outstanding "Hengyi Convertible Bonds." The decision comes as the company's stock price had triggered the potential adjustment clause, falling below 85% of the current conversion price for 15 trading days. The company cited its belief that the recent stock performance did not accurately reflect its intrinsic long-term value and a desire to protect the interests of all investors. The board also stipulated that it will not propose a downward revision of the conversion price for the next three months (July 1, 2025 to September 30, 2025), even if triggered again. The option to reassess will begin October 9, 2025.