Zhuhai Huafa Industrial Investment Holding Co., Ltd. entered into the Share Purchase Agreement to acquire a 15% stake in Beijing Digital Telecom Co., Ltd. (SEHK:6188) from Beijing Di Er Tong Consulting Company Limited and Digital Science & Technology Group Limited for approximately HKD 420 million on January 29, 2021. Under the transaction, total 109.86906 million shares will be acquired at a price of HKD 3.8429 per share. Zhuhai Huafa Industrial will purchase 101.3 million shares from Beijing Di Er Tong Consulting Company Limited for HKD 389.3 million and 27.4 million shares from Digital Science & Technology Group Limited for HKD 32.9 million. In related transaction Zhuhai Huafa Industrial Investment Holding Co., Ltd. made an offer to acquire all the outstanding Domestic Shares and H Shares other than those already owned or agreed to be acquired by Zhuhai Huafa Industrial or parties acting in concert with it. It is currently intended that, after Completion and the closing of the Offer, Liu Donghai will remain as an executive Director of Beijing Digital Telecom Co., Ltd., while Liu Yajun and Liu Wencui (both executive Directors of Beijing Digital Telecom Co., Ltd.) will resign from their position. Transaction is subject to the H Shares of Beijing Digital Telecom Co., Ltd. remaining listed and traded on the Stock Exchange, approvals of State-owned Assets Supervision and Administration Commission, if required, approvals by the National Development and Reform Commission and the Ministry of Commerce, execution of loan agreement and Concert Party Agreement, consents from certain banks/financial institutions. State-owned Assets Supervision and Administration Commission has approved the transaction. As of March 22, 2021, the transaction has been approved by State-owned Assets Supervision and Administration Commission. Long stop date of transaction is July 29, 2021. Guotai Junan Capital Limited acted as financial advisor to Zhuhai Huafa Industrial Investment Holding Co., Ltd. Zhuhai Huafa Industrial Investment Holding Co., Ltd. completed the acquisition of a 15% stake in Beijing Digital Telecom Co., Ltd. (SEHK:6188) from Beijing Di Er Tong Consulting Company Limited and Digital Science & Technology Group Limited on April 7, 2021. Post completion of transaction, Zhuhai Huafa Industrial Investment Holding Co., Ltd. controls approximately 37.99% stake in Beijing Digital Telecom Co., Ltd. Pursuant to Rule 26.1 of the Takeovers Code, Zhuhai Huafa Industrial is required to make a mandatory conditional general offer in cash for all the outstanding Domestic Shares and H Shares other than those already owned or agreed to be acquired by Zhuhai Huafa Industrial or parties acting in concert with it at a same price per share.