Tibet Water Resources Ltd. (stock code: 01115) disclosed changes to its share capital arising from partial and full conversions of HKD165,000,000 8% convertible bonds due 2025. On 1 December 2025, a partial conversion added 178,787,878 ordinary shares, representing approximately 3.37% of the previous issued share count. On 3 December 2025, a further conversion added 100,000,000 ordinary shares, representing around 1.88% of the previous issued share count. Both conversions were executed at HKD0.33 per share.

Following these conversions, the total number of issued shares rose from 5,307,672,842 to 5,586,460,720 as of 3 December 2025. No repurchases or redemptions of shares were reported over the same period.