China Carbon Neutral Development Group Limited (stock short name: C CARBONNEUTRAL) reported a material change in its share capital following the full conversion of outstanding convertible bonds.

On 11 May 2026, bondholders exercised conversion rights, resulting in the issuance of 205.93 million new ordinary shares at a conversion price of HKD 0.28 per share. The new shares equate to 32.03% of the company’s pre-conversion share base and represent an equity value of approximately HKD 57.66 million.

Post-conversion, C CARBONNEUTRAL’s issued share capital increased from 674.96 million to 880.89 million shares. The company confirmed it holds no treasury shares, and the conversion was executed in full compliance with Hong Kong Stock Exchange listing rules and relevant regulatory requirements.

The converted bonds stem from instruments announced on 30 May 2025, 31 October 2025 and 29 December 2025, with detailed terms previously set out in a circular dated 5 December 2025.