China Mobile Guangdong boosts stake in SPD Bank via convertible bond conversion

China Mobile Communications Group Guangdong Co., Ltd. (China Mobile Guangdong) has increased its direct shareholding in Shanghai Pudong Development Bank Co., Ltd. (SPD Bank), pushing its stake from 17.80% to 18.15%. This 0.35% increase, which crossed the 1% integer threshold for reporting purposes, resulted from the conversion of 18,740,710 convertible bonds into 149,805,835 ordinary shares. The conversion occurred on October 17, 2025.

Prior to the conversion, China Mobile Guangdong held 5,785,049,012 shares. Following the conversion, its total holding rose to 5,934,854,847 shares. This change in equity did not trigger a mandatory tender offer and did not alter SPD Bank's status regarding its largest shareholder. The total share capital of SPD Bank increased to 32,693,020,951 shares following these conversions.

This transaction is categorized as an increase in holdings and is compliant with relevant securities laws and regulations. The conversion pricing was approximately 12.51 RMB per share.