According to the Zhitong Finance App, Dacheng Sugar (03889) issued an announcement. The company received a conversion notice from Huasheng dated May 14, 2024, regarding the exercise of its right to convert a convertible bond with a principal amount of RMB 33 million to 363 million shares. The conversion price was HK$0.10 per share. The conversion price was HK$0.10 per share. The conversion price was HKD 1.0 to RMB 0.90962 as announced by the People's Bank of China on the date of the conversion notice.

As a result, after completing the administrative procedures required to distribute the converted shares, the company allocated and issued 363 million converted shares to Watson on May 24, 2024. The converted shares enjoy the same rights with each other and with all other existing issued shares in all aspects. The conversion of shares is equivalent to approximately 23.75% of the total issued share capital of the company before conversion and approximately 19.19% of the total issued share capital expanded by allocating and issuing 363 million subscription shares during the conversion.