Gelonghui March 7th 丨Huahai Pharmaceutical (600521.SH) announced that as of March 7, 2023, the company's stock price had a situation where the closing price for at least 15 trading days out of any 30 consecutive trading days was lower than 80% of the current conversion price, which touched on the “Huahai Convertible Bonds” conversion price downward revision clause.

After deliberation and approval at the 11th interim meeting of the 8th board of directors of the company, the board of directors of the company decided not to exercise the right to revise the “Huahai Convertible Bonds” convertible price downward this time, and that within the next 2 months (March 8, 2023 to May 7, 2023), if the convertible price correction clause for convertible bonds is once again touched, no downward amendment plan will be proposed. Starting from May 8, 2023, the company's board of directors will hold another meeting to decide whether to exercise the right to revise the “Huahai Convertible Bonds” convertible price downward if the “Huahai Convertible Bonds” convertible price is triggered again.