Gehua CATV adjusts stake in Hebei Guangdian asset swap

Beijing Gehua CATV Network Co., Ltd. has provided an update on its asset swap and connected transaction. The company's wholly-owned subsidiary, Zhuozhou Gehua CATV Network Co., Ltd., will swap its cable TV network assets and businesses for a stake in China Broadcasting Hebei Network Co., Ltd. (Hebei Guangdian). This transaction aims to align with national cable TV network integration plans and enhance asset operating efficiency.

Following an adjustment due to another party's inability to participate in the capital increase, the parties formally signed the "Capital Increase and Share Subscription Agreement" on August 27, 2025. Zhuozhou Gehua's cable network asset group is valued at RMB 87,395,800, which will be used to subscribe for 4,171,320 shares in Hebei Guangdian.

This subscription will result in Zhuozhou Gehua holding a 1.99% stake in Hebei Guangdian's registered capital post-capital increase, an increase from the previously planned 1.79%. The adjusted equity structure shows China Broadcasting Hebei Network Co., Ltd. holding 48.84% and other shareholders (excluding Zhuozhou Gehua) holding 49.17% of Hebei Guangdian.