China Mobile Guangdong boosts stake in Pudong Development Bank

China Mobile Group Guangdong Co., Ltd. (China Mobile) has increased its stake in Shanghai Pudong Development Bank Co., Ltd. from 17.00% to 18.18%, exceeding the 1% threshold for equity changes. This increase is a result of converting 56,314,540 convertible bonds into 450,156,195 ordinary shares of the bank.

As of October 13, 2025, the bank's total share capital stands at 31,828,841,478 shares after the conversion. This strategic move solidifies China Mobile's position as a major shareholder. The conversion does not trigger a mandatory tender offer and does not alter the bank's largest shareholder.

The "Pudong Development Bank Convertible Bonds" entered their conversion period on May 4, 2020. This transaction is classified as a direct shareholding increase by China Mobile Guangdong.