Ganfeng Lithium H-shares increase significantly after convertible bond conversion

Jiangxi Ganfeng Lithium Group Co., Ltd. announced a notable increase in its H-share capital during November 2025. The company's total issued H-shares rose by 34,570,824, bringing the month-end total to 480,902,905 H-shares. This increase primarily stemmed from the conversion of HK$1.164bn of convertible bonds.

The conversion activity reduced the outstanding convertible bonds to HK$114m, with an implied 3,385,803 additional H-shares potentially issuable from the remaining bonds. The conversion price was HK$33.67 per share. These convertible bonds were originally issued for HK$1.37bn at a 1.50% interest rate, maturing in 2026.

In contrast, Ganfeng Lithium's A-share capital remained unchanged, with 1,613,593,699 A-shares outstanding at the end of November 2025. While there were 551,250 A-share stock options outstanding under the 2022 incentive plan, none were exercised during the month. The total statutory/registered share capital for the company at month-end stands at RMB 2,094,496,604.