Hengyi Petrochemical's caprolactam-polyamide project begins trial production

Hengyi Petrochemical announced that its subsidiary, Guangxi Hengyi New Materials, has successfully brought Phase I of the "Integrated Project for 1.2 Million Tons Per Annum of Caprolactam-Polyamide Industry and Supporting Facilities" in Qinzhou into trial production. This project, located in the Qinzhou Port Petrochemical Industrial Park, includes facilities for cyclohexanone, hydrogen peroxide, synthetic ammonia, hydrogen production, caprolactam, and polyamide polymerization, and is expected to significantly enhance the company's market position and profitability.

Concurrently, the company issued a risk warning regarding its convertible bonds, indicating that the bond's conversion price is expected to trigger a downward revision. The stock's closing price has fallen below 85% of the current conversion price for 10 trading days between October 9, 2025, and October 22, 2025, triggering the potential adjustment clause.

The current conversion price of Hengyi Convertible Bonds is 9.14 yuan per share, adjusted from an initial 11.50 yuan per share due to various profit distribution schemes and share cancellations between 2021 and 2025. Investors are advised to monitor the project's operational efficiency and market price fluctuations for raw materials and products, as well as the potential impact of the convertible bond's conversion price adjustment.