China Carbon Neutral Development Group Limited (stock short name: C Carbon Neutral) filed its Monthly Return for the period ended 31 May 2026, detailing significant changes in share capital:

1. Issued Share Capital • Outstanding ordinary shares jumped 30.49% month-on-month, rising from 674.96 million to 880.89 million. • The 205.93 million new shares were created through the full conversion of HK$57.66 million convertible bonds at HK$0.28 per share. • No treasury shares were held or cancelled, keeping total issued shares equal to outstanding shares.

2. Authorised Share Capital • Authorised capital stayed unchanged at 10.00 billion ordinary shares with a par value of HK$0.01, equivalent to HK$100.00 million.

3. Convertible Instruments • The HK$57.66 million bond tranche referenced in the December 2025 shareholder circular was completely converted, reducing its outstanding balance to zero. • A separate zero-coupon convertible bond with a principal of HK$46.50 million remained outstanding at month-end.

4. Share Option Position • Options outstanding totalled 136.59 million: – 8.00 million under the 2016 scheme. – 64.30 million under the December 2025 scheme. – 64.29 million newly granted on 14 May 2026 at HK$0.966 per share (exercise period: 14 May 2026 – 13 May 2036). • No options were exercised during the month.

5. Public Float • The company confirmed compliance with the Main Board’s 25% public-float requirement as of 31 May 2026.

The filing indicates that the equity conversion materially strengthened the company’s capital structure while leaving authorised limits intact, with additional dilution potential residing in outstanding options and the remaining zero-coupon bonds.