Ganfeng Lithium H shares surge after bond conversion

Ganfeng Lithium Group Co. submitted its monthly return on movements in securities for the month ended November 30, 2025, revealing significant changes in its share capital. The total authorized/registered share capital at the end of the month stood at RMB2,094,496,604. The number of authorized and issued A shares remained constant at 1,613,593,699.

A key highlight was the increase in H shares. The number of issued H shares (excluding treasury shares) rose from 446,332,081 to 480,902,905, marking an increase of 34,570,824 shares. This growth was primarily driven by the conversion of HK$1.37bn 1.50% convertible bonds due 2026. The amount of converted bonds was HK$1.164bn during the month, leading to 34,570,824 new H shares issued. At the end of November, HK$114m of convertible bonds remained outstanding, with a potential for 3,385,803 additional H shares to be issued upon further conversion.

The company also reported 551,250 outstanding share options under its 2022 share option incentive scheme, with an exercise price of RMB84.90, granted on September 5, 2022. No new shares were issued or transferred out of treasury due to share option exercises during the month.