Zhuhai Huafa Industrial Investment Holding Co., Ltd. made an offer to acquire 22.9% stake in Beijing Digital Telecom Co., Ltd. (SEHK:6188) from Beijing Digital Telecom and others for approximately CNY 540 million on April 30, 2021. Under the terms of transaction, Zhuhai Huafa Industrial Investment Holding Co., Ltd. will acquire 168.3 million domestic shares for price of CNY 3.2 per share and Digital China (HK) Limited will sell 21.62% stake in Beijing Digital Telecom. On May 20, 2021, the offer become unconditional. The offer period is expected to be completed by May 21, 2021. The offer will remain open or acceptances for at least 14 days after the offers become or are declared unconditional. It is expected to close on June 3, 2021. Guotai Junan Capital Limited acted as financial advisor to Zhuhai Huafa Industrial Investment Holding Co., Ltd. in the deal. Innovax Capital Limited acted as financial advisor to Independent Board Committee. Zhuhai Huafa Industrial Investment Holding Co., Ltd. completed the acquisition of 8.12% stake in Beijing Digital Telecom Co., Ltd. (SEHK:6188) from Beijing Digital Telecom and others for approximately CNY 190 million on June 3, 2021.