HUAYOU COBALT(SH:603799) Zheng Quan Zhi Xing·2025-06-03 11:23Core Viewpoint - The announcement details the adjustment of the conversion price for Huayou Cobalt's convertible bonds due to the implementation of the 2024 annual profit distribution plan, with the new conversion price set at 34.43 CNY per share effective June 11, 2025, down from the previous price of 34.92 CNY per share [1][8]. Summary by Sections Convertible Bond Overview - Huayou Cobalt issued 76 million convertible bonds on February 24, 2022, with a total face value of 7.6 billion CNY and a maturity of six years [1]. - The coupon rates for the bonds are structured to increase over the years, starting from 0.20% in the first year to 2.00% in the sixth year [1]. Conversion Price Adjustment - The initial conversion price was set at 110.26 CNY per share, which has undergone several adjustments since the bonds became convertible on September 2, 2022 [2]. - The conversion price has been adjusted multiple times, with the most recent adjustment prior to the current announcement being from 81.55 CNY to 81.18 CNY per share [5][6]. Profit Distribution and Conversion Price Formula - The company will distribute a cash dividend of 0.4933 CNY per share, leading to the adjustment of the conversion price using the formula P1 = P0 - D [8]. - The adjusted conversion price is calculated as follows: 34.92 CNY - 0.4933 CNY, resulting in a new conversion price of approximately 34.43 CNY per share [8]. Suspension and Resumption of Conversion - The conversion of the bonds will be suspended from June 3, 2025, to June 10, 2025, and will resume on June 11, 2025, following the adjustment [8].