Core Viewpoint - Zhejiang Huahai Pharmaceutical Co., Ltd. has decided not to lower the conversion price of its convertible bonds, Huahai Convertible Bonds, despite the stock price falling below the threshold for adjustment [1][4][14]. Group 1: Board Meeting and Decisions - The third temporary meeting of the ninth board of directors was held on August 15, 2025, with all nine directors present, meeting the legal requirements for the meeting [1]. - The board unanimously approved the proposal not to lower the conversion price of the Huahai Convertible Bonds [1][4]. Group 2: Convertible Bond Details - As of August 15, 2025, the company's stock price had been below 80% of the current conversion price for at least 15 trading days within any 30 consecutive trading days, triggering the adjustment clause [4][13]. - The initial conversion price was set at 34.66 CNY per share, with the latest conversion price adjusted to 33.06 CNY per share [5][9]. - The company issued 18.426 million convertible bonds with a total amount of 1.8426 billion CNY, with a maturity of six years from the issuance date [5]. Group 3: Future Considerations - The board will not propose a downward adjustment for the conversion price in the next two months (from August 16 to October 15, 2025), even if the adjustment clause is triggered again [4][14]. - Starting from October 16, 2025, if the adjustment clause is triggered again, the board will convene to consider whether to exercise the right to adjust the conversion price [5][14].

股票简称：华海药业 股票代码：600521 公告编号：临 2025-088 号 债券简称：华海转债 债券代码：110076 浙江华海药业股份有限公司 第九届董事会第三次临时会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 浙江华海药业股份有限公司（以下称"公司"）第九届董事会第三次临时会议于 二零二五年八月十五日下午十五点以通讯方式在公司四楼会议室召开。会议应到会 董事九人，实际到会董事九名，符合召开董事会会议的法定人数。会议由公司董事 长李宏先生主持。会议程序符合《公司法》及《公司章程》的规定，会议合法有效。 会议审议并通过了如下决议： 表决情况：同意：9 票；反对：0 票；弃权：0 票。 具体内容详见公司于 2025 年 8 月 16 日刊登在中国证券报、上海证券报、证券 时报、证券日报及上海证券交易所网站（www.sse.com.cn）上的《浙江华海药业股 份有限公司关于不向下修正"华海转债"转股价格的公告》。 特此公告。 浙江华海药业股份有限公司 董事会 二零二五年八月十五日 一、审议通过了《关于不向 ...

Core Viewpoint - Huahai Pharmaceutical (600521) announced that its board of directors decided not to exercise the right to lower the conversion price of "Huahai Convertible Bonds" for the current period and will not propose a downward adjustment in the next two months [1] Group 1 - The board resolution was made during the third temporary meeting of the ninth board of directors [1] - The period for potential downward adjustment of the conversion price is set from August 16, 2025, to October 15, 2025 [1] - Starting from October 16, 2025, the company will reassess whether to exercise the right to adjust the conversion price if the conditions are met [1]

Group 1 - The core point of the article is that Huahai Pharmaceutical announced the decision not to adjust the conversion price of its "Huahai Convertible Bonds" during the third temporary meeting of the ninth board of directors [2]

Group 1 - The company, Zhejiang Huahai Pharmaceutical Co., Ltd., has issued convertible bonds with a total amount of 1,842.60 million bonds, each with a face value of 100.00 yuan, totaling 184,260.00 million yuan [3] - The convertible bond, referred to as "Huahai Convertible Bond," is listed on the Shanghai Stock Exchange with the code "110076" and has a maturity period of six years from the issuance date [3] - The conversion price for the bonds is set at 33.06 yuan per share, with the conversion period running from May 6, 2021, to November 1, 2026 [2] Group 2 - The company anticipates that the conditions for a downward adjustment of the conversion price may be triggered, as the stock price has been below 80% of the current conversion price for 10 trading days within a 30-day period [6] - If the downward adjustment condition is triggered, the company will convene a board meeting to decide whether to adjust the conversion price and will disclose the decision in a timely manner [6][5] - The adjustment process requires a two-thirds majority approval from shareholders present at the meeting, excluding those holding the convertible bonds [4] Group 3 - The company has previously announced on April 26, 2025, that it would not adjust the conversion price of the "Huahai Convertible Bond" [6] - The company is obligated to disclose any decisions regarding the adjustment of the conversion price in accordance with the regulations set by the Shanghai Stock Exchange [6][5] - Investors can refer to the prospectus published on October 29, 2020, for more information regarding the "Huahai Convertible Bond" [7]

Summary of Key Points Core Viewpoint - The announcement details the conversion results of Zhejiang Huahai Pharmaceutical Co., Ltd.'s convertible bonds, indicating minimal conversion activity and a significant amount of unconverted bonds remaining. Group 1: Convertible Bond Conversion Status - As of June 30, 2025, a total of 182,000 yuan of Huahai convertible bonds have been converted into 5,304 shares, representing 0.00036% of the company's total shares before conversion [1][6] - The amount of unconverted Huahai convertible bonds stands at 1,842,417,000 yuan, accounting for 99.9901% of the total issuance [1][6] - No conversions occurred during the period from April 1, 2025, to June 30, 2025 [5][6] Group 2: Convertible Bond Issuance Overview - Huahai issued 18.426 million convertible bonds on November 2, 2020, with a total value of 184,260,000 yuan and a maturity of six years [2] - The initial conversion price was set at 34.66 yuan per share, which has undergone several adjustments, with the latest adjustment bringing it to 33.31 yuan per share effective June 17, 2025 [2][5] Group 3: Share Capital Changes - The company repurchased and canceled 10,656,753 shares, resulting in a reduction of total share capital [6][7] - The total number of shares after the cancellation is 1,497,251,081 shares [6][7]

Group 1 - The company's main credit rating remains "AA" with a stable outlook [1] - The tracking credit rating for the "Huahai Convertible Bond" is also maintained at "AA" [1] - The rating was conducted by Shanghai New Century Credit Rating Investment Service Co., Ltd. based on a comprehensive analysis of the company's industry and operational status [1] Group 2 - The previous credit rating results for the company and the convertible bond were both "AA" as of June 28, 2024 [1] - The announcement is made in accordance with the relevant regulations of the Securities Issuance Registration Management Measures and the Shanghai Stock Exchange Listing Rules [1] - The announcement was issued by the Board of Directors of Zhejiang Huahai Pharmaceutical Co., Ltd. on June 27, 2025 [2]

Group 1 - The company announced a cash dividend of 0.25 yuan per share (including tax) to all shareholders based on the total share capital after deducting shares held in the repurchase account [1][3] - The company will stop the conversion of its convertible bonds ("华海转债") from July 1, 2025, until the record date for the dividend distribution, with resumption of conversion on the first trading day after the record date [1][3] - The company will adjust the conversion price of the convertible bonds according to the terms outlined in the bond issuance prospectus after the implementation of the profit distribution plan [3] Group 2 - The company held its annual general meeting on May 23, 2025, where the profit distribution plan was approved [1][2] - The company will publish the implementation announcement of the profit distribution and the adjustment of the convertible bond conversion price on July 2, 2025 [3] - Shareholders wishing to enjoy the dividend distribution must convert their bonds by June 30, 2025 [3]

Group 1 - The core viewpoint of the report is the management of the convertible bonds issued by Zhejiang Huahai Pharmaceutical Co., Ltd., including the bond's issuance details, credit ratings, and the use of raised funds [1][2][3][4][5][6][7][8][9] Group 2 - The total amount of the convertible bonds issued is 1,842.60 million yuan, with a term of 6 years and an interest rate that varies from 0.30% in the first year to 1.00% in the third year [1][2] - The funds raised will be allocated to various projects, including 692.60 million yuan for the production of 20 tons of Perindopril and 50 tons of Ramipril, and 600 million yuan for a pharmaceutical and R&D center project [1][6] - The company has maintained a credit rating of AA for both the issuer and the bonds, with a stable outlook [1][2][3] Group 3 - The company reported a 14.91% increase in total revenue for 2024, amounting to 954,742.54 million yuan compared to 830,871.98 million yuan in 2023 [5] - The net profit for 2024 reached 110,746.31 million yuan, reflecting a 35.51% increase from the previous year [5] - The company’s total assets and liabilities remained stable, with total liabilities at 112.41 billion yuan as of December 31, 2024 [7][9] Group 4 - The company has established a mechanism for the management of raised funds, ensuring compliance with the intended use as outlined in the bond issuance documents [6][7] - The company has successfully completed the projects funded by the raised capital, including the production of raw materials and the establishment of a pharmaceutical park [6][7] - The company has reported no significant adverse changes in its operating environment or business continuity [4][6]

证券代码：600521 证券简称：华海药业 债券代码：110076 债券简称：华海转债 浙商证券股份有限公司 关于 浙江华海药业股份有限公司 可转换公司债券转股价格调整的 临时受托管理事务报告 债券受托管理人： （浙江省杭州市五星路 201 号） 二〇二五年六月 重要声明 浙商证券股份有限公司（以下简称"浙商证券"）编制本报告的内容及信息 来源于浙江华海药业股份有限公司（以下简称"华海药业"、 "公司"或"发行人"） 对外公布的公开信息披露文件及发行人向浙商证券提供的资料。 浙商证券按照《公司债券发行与交易管理办法》《公司债券受托管理人执业 行为准则》等相关规定及与华海药业签订的《浙江华海药业股份有限公司公开发 行可转换公司债券之受托管理协议》 （以下简称"《受托管理协议》"）的约定编制 本报告。 浙商证券提请投资者及时关注发行人的信息披露文件，并已督促发行人及时 履行信息披露义务。 一、核准文件及核准规模 经中国证券监督管理委员会《关于核准浙江华海药业股份有限公司公开发行 可转换公司债券的批复》（证监许可20202261 号）核准，公司于 2020 年 11 月 2020376 号文同意，公司 184,26 ...