Kehua Bio-Engineering resumes convertible bond share conversion after putback period

Shanghai Kehua Bio-Engineering Co., Ltd. announced the resumption of share conversion for its "Kehua Convertible Bonds" effective September 17, 2025. This follows a temporary suspension from September 10, 2025, to September 16, 2025, during the bond's putback declaration period. The convertible bonds were issued on July 28, 2020, with a total face value of 738,000,000 yuan and a 6-year term, becoming convertible into company shares on February 3, 2021.

The putback condition was triggered as the company's stock price closed below 70% of the current conversion price (20.64 yuan per share), or 14.45 yuan per share, for 30 consecutive trading days between July 28, 2025, and September 5, 2025, and the bonds are in their final two interest-accrual years. The putback price was set at 100.241 yuan per bond, which includes face value and accrued interest calculated at 2.00% for 44 days (from July 28, 2025, to September 10, 2025).

During the putback declaration period, investors could choose to sell their bonds back to the company, though it was not mandatory. Trading of the "Kehua Convertible Bonds" continued during this period, but share conversion was halted. The company confirmed that the share conversion will resume the trading day following the end of the putback declaration period.