Dynagreen Sees Minimal Bond Conversion as Most Convertible Issue Remains Outstanding

Dynagreen Environmental Protection Group Co., Ltd. Class H ( (HK:1330) ) has provided an announcement.

Dynagreen Environmental Protection Group reported minimal conversion of its A-share convertible corporate bonds in the first quarter of 2026, with only 336 shares converted, equivalent to RMB3,000. Cumulatively, just RMB142,000 of the RMB2.36 billion issuance has been converted into A shares, representing 0.0010% of pre-conversion share capital, while 99.9940% of the bonds remain outstanding, indicating bondholders largely prefer to hold the securities rather than convert at current terms.

The bonds, issued in February 2022 with a six-year term and low step-up coupon rates, have undergone multiple downward adjustments to their conversion price following equity distributions and an incentive scheme, most recently to RMB8.89 per share in December 2025. The very low conversion uptake suggests limited immediate equity dilution for existing shareholders and signals that market conditions or the share price may not yet be sufficiently attractive to drive large-scale conversion, leaving Dynagreen’s capital structure still heavily geared toward debt via these convertible instruments.

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, focusing on waste-to-energy and related environmental protection projects. The group raises onshore renminbi funding through A-share convertible corporate bonds listed on the Shanghai Stock Exchange to support its capital and project needs.

Average Trading Volume: 2,742,875

Technical Sentiment Signal: Buy

Current Market Cap: HK$12B

See more data about 1330 stock on TipRanks’ Stock Analysis page.