Accelink Technologies Co., Ltd. entered into a share subscription agreement for not more than 139,964,983 A shares for gross proceeds of not more than CNY 1,945,113,600 on November 12, 2021. The price per share will not be less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from not more than 35 investors, including China Information and Communication Technology Group Co., Ltd., who will subscribe to 10-20% of the issuance. The shares China Information and Communication Technology Group Co., Ltd. subscribes to cannot be transferred within 18 months from the issuance closing date. The shares the other investors subscribe to cannot be transferred within 6 months from the issuance closing date. The transaction has been approved in the 23rd meeting of the company's 6th directorate and 20th meeting of the 6th Board of Supervisors, and is subject to approvals of the company's shareholders, the State-owned Assets Supervision and Administration Commission of the State Council's authorized state enterprise China Information and Communication Technology Group Co., Ltd., and the China Securities Regulatory Commission. At present, the company's total share capital is 699,824,918 shares, and China Information and Communication Technology Group Co., Ltd. indirectly holds 291,478,944 shares, 41.65% stake, and will directly hold at least 1.67% stake.

On December 7, 2021, the company announced that the transaction has been approved by the China Information and Communication Technology Group Co., Ltd.