Zhejiang Communications Group boosts stake in Zhejiang Communications Tech

Zhejiang Provincial Communications Investment Group Co., Ltd. (Zhejiang Communications Group) has completed its plan to increase shareholding in Zhejiang Communications Technology Co., Ltd. (Zhejiang Communications Tech). As of October 9, 2025, Zhejiang Communications Group acquired an additional 52,350,043 shares through centralized bidding, representing 1.96% of Zhejiang Communications Tech’s total share capital of 2,670,551,430 shares. The total value of these new acquisitions was 209,437,972.043 yuan, excluding transaction fees.

This transaction brings Zhejiang Communications Group's total direct shareholding in Zhejiang Communications Tech to 1,153,059,409 shares, accounting for 43.18% of the company's total equity. This increase adhered to the previously announced plan, which aimed to acquire between 1% and 2% of the total share capital at a price not exceeding 8.77 yuan per share. The acquisition was conducted using Zhejiang Communications Group's own funds and a specialized loan.

Zhejiang Tiance Law Firm confirmed that the increase in shareholding complies with relevant securities laws and regulations, and that Zhejiang Communications Group is exempt from issuing a tender offer. The move underscores the parent company’s confidence in Zhejiang Communications Tech’s investment value and future prospects.