HKBN and China Mobile group ink new service agreements

HKBN Ltd. has entered into new Master Agreements with China Mobile Hong Kong Company Limited (CMHK) and China Mobile International Limited (CMI). The term for these agreements commences on October 30, 2025, and ends on August 31, 2028. These agreements cover various telecommunication-related services, including CM Services where China Mobile Group provides services to HKBN, and HKBN Services where HKBN provides services to China Mobile Group.

The annual caps for CM Services for the fiscal years ending August 31, 2026, 2027, and 2028 are estimated at HK$33,470, HK$39,620, and HK$45,770 respectively for CM FTNS Service, and HK$105,000, HK$108,000, and HK$110,000 for CM Wholesale IDD Service. For HKBN Services, the annual caps for HKBN Broadband Resale Service are HK$34,400, HK$63,000, and HK$105,000. For HKBN Wholesale IDD Service, the caps are HK$105,000, HK$108,000, and HK$110,000 for the same periods.

CMHK owns 74.84% of HKBN's issued share capital, making members of the China Mobile Group connected persons under Chapter 14A of the Listing Rules. The transactions are deemed continuing connected transactions. Fees will be negotiated at arm's length, based on prevailing market prices, and require HKBN to purchase services from China Mobile Group only if its quote is the lowest, and to charge no less than it charges independent third parties for services of the same nature.