CMOC Group Limited (603993.SH) plans to issue $1.2 billion zero-coupon convertible bonds with guarantees due in 2027 under its general authorization.

CMOC Group Limited (603993.SH) announced that on January 19, 2026 (after the close of trading), the company plans to issue $1.2 billion in guaranteed convertible corporate bonds that can be converted into H shares of the company through its overseas indirect subsidiary, CMOC Capital Limited ("Issuer" or "CMOC Capital"). The company will provide guarantees for the issuance of convertible bonds by indirect subsidiary CMOC Capital. According to the terms and conditions, the bonds can be converted into H shares at an initial conversion price of HK$28.03 per H share (adjustable). Assuming that all bonds are converted at the initial conversion price of HK$28.03 per H share, the bonds will be converted into approximately 334 million H shares, equivalent to approximately 8.48% of the existing issued H shares of the company as of the announcement date, approximately 1.56% of the existing issued share capital of the company, and approximately 7.82% of the enlarged issued H shares of the company and approximately 1.54% of the enlarged issued share capital of the company after the full conversion of the bonds. The converted shares will be fully paid and will have the same rights and benefits as the H shares already issued at the relevant registration date. After deducting agent commissions and other estimated expenses payable for the issuance, the net proceeds from the issuance of the bonds will be approximately $1.188 billion. The company intends to use the proceeds to support the expansion, optimization, and sustained capital expenditure of the company's overseas resource projects, enhance the company's operational flexibility and for general corporate purposes.