---
title: "Dynagreen Leaves Nearly Entire RMB2.36 Billion Convertible Bond Issue Unconverted"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/291468378.md"
description: "Dynagreen Environmental Protection Group reported that nearly the entire RMB2.36 billion convertible bond issue remains unconverted as of June 2026. Only RMB143,000 (0.0011% of pre-conversion share capital) has been converted since issuance in February 2022, despite multiple conversion price adjustments lowering the price to RMB8.67 per share. The vast majority of bonds remain outstanding until February 2028, indicating limited investor appetite for conversion."
datetime: "2026-07-01T22:37:31.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/291468378.md)
  - [en](https://longbridge.com/en/news/291468378.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/291468378.md)
generator: "portal-rs"
---

# Dynagreen Leaves Nearly Entire RMB2.36 Billion Convertible Bond Issue Unconverted

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

Dynagreen Environmental Protection Group reported that its A share convertible corporate bonds, issued in February 2022 for RMB2.36 billion with a six-year term and listed in Shanghai under the name Dynagreen Convertible Bonds, have undergone multiple conversion price adjustments following consecutive annual and interim equity distributions and an A-share incentive scheme. These price resets, which lowered the conversion price from RMB9.82 at issuance to RMB8.67 per share as of July 2026, are designed to reflect shareholder returns and employee incentives while maintaining bondholder conversion economics.

In the second quarter of 2026, only 112 A shares were converted from the Dynagreen Convertible Bonds, worth RMB1,000, bringing total converted bonds since 2022 to RMB143,000, or just 14,798 shares, representing 0.0011% of pre-conversion share capital. As of 30 June 2026, RMB2.359857 billion of the bonds, or 99.9939% of the original issue size, remained outstanding and available for conversion until February 2028, indicating limited bondholder appetite to convert so far and leaving Dynagreen with a largely intact convertible debt overhang on its balance sheet.

**More about Dynagreen Environmental Protection Group Co., Ltd. Class H**

Dynagreen Environmental Protection Group Co., Ltd. is a PRC-incorporated environmental services company focused on waste-to-energy and related environmental protection projects, with its A shares and convertible bonds traded in mainland China and H shares listed in Hong Kong. The group finances its operations partly through onshore A-share convertible corporate bonds issued on the Shanghai Stock Exchange, reflecting its reliance on capital markets to support long-term infrastructure and environmental initiatives.

**Average Trading Volume:** 1,751,659

**Technical Sentiment Signal:** Buy

**Current Market Cap:** HK$10.31B

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**