Lenovo Group Limited (Lenovo) has filed its resubmitted Monthly Return for the period ended 30 June 2026, confirming that its share capital structure remained unchanged during the month while providing updated data on outstanding warrants and convertible bonds.

Key Takeaways

1. Issued Share Capital Steady • Outstanding ordinary shares: 12.40 billion (no change versus May 2026). • Treasury shares: Nil. • Lenovo affirms compliance with Hong Kong Main Board Rule 13.32D public-float requirements (minimum 25%).

2. Warrants in Issue • January 2025 warrants: 1.15 billion warrants at an issue price of HK$1.43 each. • Full exercise at the adjusted strike of HK$11.92 per share would generate up to 1.19 billion new shares. • Transfer/exercise capped at 306.67 million unexercised warrants per rolling 12-month period; maturity on 8 January 2028 (extendable to 8 April 2028). • No warrants were exercised in June 2026.

3. Convertible Bond Position (Total Outstanding Principal: US$4.45 billion) a) 2.50% Convertible Bonds due 2029 – Original issue: US$675 million (26 Aug 2022). – Repurchased in June 2026: US$225.04 million; remaining principal: US$449.96 million. – Fully convertible into 406.80 million shares at an adjusted price of HK$8.67.

b) Zero-Coupon Convertible Bonds due 2028 – Issue size: US$2.00 billion (8 Jan 2025). – Fully convertible into 1.61 billion shares at an adjusted price of HK$9.70. – Conversion permitted only at maturity (8 Jan 2028, extendable to 8 Apr 2028).

c) Zero-Coupon Convertible Bonds due 2033 – New issuance: US$2.00 billion (25 Jun 2026). – Convertible into 426.88 million shares at an initial price of HK$36.70. – Conversion rights commence after the sixth anniversary of issuance; maturity 25 Jun 2033.

4. Share Issuance & Treasury Activity • No new shares were issued and no treasury shares were cancelled, sold or transferred during June 2026.

Implications

With 12.40 billion shares outstanding and potential dilution stemming from 1.19 billion shares issuable upon full warrant exercise and 2.44 billion shares from convertible bonds, Lenovo maintains significant optional equity funding capacity without altering its current share count. The partial repurchase of US$225.04 million in 2.50% 2029 convertible bonds reduces potential dilution by 205.02 million shares, while the June-2026 issuance of US$2.0 billion zero-coupon 2033 convertibles introduces future optionality starting in 2032.

The absence of share issuance this month, together with adherence to public-float requirements, underlines Lenovo’s disciplined capital-structure management as it balances near-term stability with longer-dated convertible funding flexibility.