Meituan Issues 0.22 Million New Class B Shares in April; Trims 2028 Convertible Bond Balance by USD 1.48 Billion

Bulletin Express
05/06

Hong Kong, 6 May 2026 – Meituan (HKEX: 03690) released its monthly return for April 2026, detailing minor equity issuance from employee option exercises and a sizeable reduction in outstanding convertible bonds.

Share Capital and Float • Authorised share capital remained unchanged at 10.00 billion shares, split into 9.26 billion Class B and 0.74 billion Class A weighted-voting-right (WVR) ordinary shares. • Issued Class B shares increased by 221,686 to 5.60 billion, representing a 0.004 % rise month-on-month. Class A issued shares were stable at 579.15 million. • Meituan confirmed compliance with the Hong Kong Stock Exchange’s 25 % minimum public-float requirement.

Equity Incentive Activity • All new issuance stemmed from exercises under the Pre-IPO employee stock incentive scheme, generating HKD 7.19 million in proceeds. • Post-IPO share option scheme maintained 57.33 million outstanding options, with capacity to issue up to 358.17 million additional shares. • The Post-IPO share award scheme held authority to grant up to 112.20 million restricted share units; no RSUs were vested or issued during the month.

Convertible Bonds • Zero-coupon convertible bonds due 2028 were largely redeemed, with the outstanding principal shrinking by USD 1.48 billion to USD 18.60 million. • Zero-coupon convertible bonds due 2027 remained unchanged at USD 20.30 million outstanding. • Post-redemption, the two bond tranches could be converted into a combined 703,764 Class B shares, assuming full conversion at HKD 431.24 per share; no shares were issued via conversion in April.

Treasury Shares • Meituan held no treasury shares, and there were no transfers or cancellations during the reporting period.

Overall, April’s activity had a negligible dilutive effect on Meituan’s share base, while the substantial redemption of the 2028 convertible bonds reduced potential future dilution risk stemming from debt-equity conversion.

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