Ganfeng Lithium to redeem HK$1.2bn H-share convertible bonds early

Ganfeng Lithium, through its subsidiary Jiangxi Ganfeng Lithium Group Co., Ltd., will proceed with the early redemption of its H-share convertible corporate bonds. The initial issuance, on September 2, 2025, totaled HK$1,370,000,000. As of the announcement date, HK$1,238,000,000 of the convertible bonds remain outstanding, representing 90.36% of the original principal.

The company is exercising its right to redeem the remaining convertible bonds at 100% of the principal amount, plus accrued and unpaid interest up to the redemption date of December 18, 2025. This decision follows the H-share closing price meeting the redemption trigger, specifically trading at or above 130% of the conversion price (HK$33.67) for 20 out of 30 consecutive trading days. Bondholders wishing to convert their bonds must submit conversion notices by 3:00 PM HKT on December 8, 2025.

The current H-share closing price is HK$50.80. If all remaining convertible bonds are converted, it would result in the issuance of 36,768,636 H-shares, representing approximately 8.22% of the company's total issued H-shares and 1.78% of the total issued share capital. Investors are urged to consider potential losses if they do not convert their bonds, given the difference between the H-share price and the redemption price.