China Satellite Communications' major shareholder reduces stake

China Aerospace Science and Technology Corporation (CASC), the controlling shareholder of China Satellite Communications, saw its direct shareholding decrease from 72.13% to 71.23% between August 26, 2025, and September 8, 2025. This reduction resulted from bondholders converting CASC’s publicly issued exchangeable corporate bonds into company shares.

The total shareholding of CASC and its concerted parties, including China Academy of Launch Vehicle Technology and China Academy of Space Technology, decreased from 81.68% to 80.78%. This change represents a decrease of 0.90 percentage points in CASC's overall stake, which triggers the 1% threshold for disclosure.

The company stated that this passive reduction in shareholding does not involve a tender offer and will not lead to a change in the company's controlling shareholder or actual controller. China Satellite Communications will monitor future bond conversions, as the number and timing of such conversions remain uncertain.