Dynagreen Reports Minimal Conversion of RMB2.36 Billion Convertible Bonds in Q4 2025

An update from Dynagreen Environmental Protection Group Co., Ltd. Class H ( (HK:1330) ) is now available.

Dynagreen Environmental Protection Group Co., Ltd. reported minimal bond-to-equity conversion activity for its A-share convertible corporate bonds in the fourth quarter of 2025, with only RMB3,000 of bonds converted into 329 A shares. Since conversion began in September 2022, a cumulative RMB139,000 of the RMB2.36 billion issuance has been converted, representing just 0.0010% of the company’s pre-conversion share capital, leaving RMB2,359,861,000, or 99.9941% of the bonds, still outstanding. Over the life of the bonds, the conversion price has been repeatedly adjusted downward in line with the company’s equity distributions and an A-share incentive scheme, which may improve attractiveness of future conversions but also highlights that the instrument remains largely a debt rather than equity source of funding at this stage, with limited dilution for existing shareholders so far.

The most recent analyst rating on (HK:1330) stock is a Hold with a HK$5.50 price target. To see the full list of analyst forecasts on Dynagreen Environmental Protection Group Co., Ltd. Class H stock, see the HK:1330 Stock Forecast page.

More about Dynagreen Environmental Protection Group Co., Ltd. Class H

Dynagreen Environmental Protection Group Co., Ltd. is a PRC-incorporated environmental services company listed in Hong Kong that raises onshore renminbi funding via A-share convertible corporate bonds listed on the Shanghai Stock Exchange. The company operates within the environmental protection and waste-to-energy sector, relying on domestic capital markets to support its infrastructure-heavy business and long-term project development needs.

YTD Price Performance: 0.39%

Average Trading Volume: 1,709,505

Technical Sentiment Signal: Buy

Current Market Cap: HK$9.8B

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