Meeting Overview - The annual general meeting was held on May 21, 2025, at JW Marriott Hotel, Hong Kong [2] - The meeting was convened by the board of directors and chaired by Mr. Ke Ruiwen [3] Attendance and Voting - 7 out of 9 current directors attended the meeting, while 4 out of 5 current supervisors were present [5] - All resolutions presented at the meeting were approved without any dissenting votes [2][6] Resolutions Passed - The following key resolutions were approved: - 2024 annual financial settlement report [6] - 2024 annual report [6] - 2024 board of directors report [6] - 2024 supervisory board report [6] - 2024 profit distribution and dividend declaration plan [6] - Authorization for the board to decide on the 2025 mid-term profit distribution plan [6] - Continuation of related party transaction agreement with China Tower Corporation [6] - Appointment of external auditors for 2025 [6] - Purchase of liability insurance for directors, supervisors, and senior management [7] - Election of Mr. Lv Yongzhong as a non-executive director [7] - Authorization for the board to repurchase company shares [7] Legal Compliance - The meeting's procedures and voting conformed to the Company Law and the company's articles of association, ensuring validity [4][8] Director Departure - Mr. Chen Shengguang's departure from the board was noted, with no impact on the board's legal composition [10][11] - The company expressed gratitude for Mr. Chen's contributions since joining in May 2017 [11]

Meeting Procedures - The meeting was convened by the company's board of directors, and the time, location, and method of the meeting were consistent with the notice provided [2][3] - The meeting was presided over by Mr. Ke Ruiwen, the chairman of the company [2] Attendance and Voting - A total of 111 shareholders and their proxies attended the meeting, holding 67,734,451,726 shares, which accounted for 74.02% of the total voting shares [3] - For the A-share class meeting, 8 shareholders and their proxies attended, holding 66,219,066,029 shares, representing 10.92% of the total voting shares [3] Voting Results - The meeting included 11 proposals for the shareholders' approval, with the first 10 passed by ordinary resolution and the 11th requiring a special resolution [4] - The voting process combined both on-site and online voting, and the results were compiled and verified according to the company's regulations [4][5] - The legal opinion confirmed that the voting procedures were in compliance with relevant laws and the company's articles of association, rendering the results valid [5]

Group 1 - China Telecom announced the resignation of non-executive director Chen Shengguang, effective May 21, 2025, due to adjustments prior to the annual shareholders' meeting [1][2] - Chen Shengguang's departure will not result in the board of directors falling below the legal number of members, as the company has completed the selection of a new non-executive director [1][2] - Chen Shengguang has served on the board since May 2017 and has made significant contributions to the company's development strategy, governance, and risk management [2] Group 2 - There are no outstanding public commitments or obligations from Chen Shengguang, and there are no disagreements with the board that need to be brought to the shareholders' attention [2] - The board expressed gratitude for Chen Shengguang's contributions during his tenure [2]

Group 1 - The core viewpoint of the article highlights the performance of the China Securities Hong Kong Stock Connect TMT Index, which has seen a 10.93% increase over the past month and a 22.64% increase year-to-date [1] - The index consists of 50 listed companies in the TMT sector selected from the Hong Kong Stock Connect, reflecting the overall performance of related industry companies [1] - The top ten weighted companies in the index include Xiaomi Group-W (21.12%), Tencent Holdings (14.91%), and China Mobile (14.28%) [1] Group 2 - The index is adjusted semi-annually, with changes implemented on the next trading day following the second Friday of June and December [2] - In special circumstances, the index may undergo temporary adjustments, such as removing companies that are delisted or adding new TMT companies that rank in the top ten by market capitalization [2] - The index's holdings are entirely composed of companies listed on the Hong Kong Stock Exchange, with 52.50% in communication services and 47.50% in information technology [1]

一、提前离任的基本情况 二、陈胜光先生离任对公司的影响 陈胜光先生已按照公司相关规定做好工作交接，其离任不会导致公 司董事会成员低于法定人数。公司已按照《公司法》《公司章程》及相 关规定完成新任非执行董事的选聘工作，详见公司 2025 年 4 月 26 日、 5 月 22 日披露于上海证券交易所网站（www.sse.com.cn）及指定媒体 的《中国电信股份有限公司关于选举公司非执行董事的公告》（公告编 号：2025-015）、《中国电信股份有限公司 2024 年年度股东大会、2025 年第一次 A 股类别股东会和 2025 年第一次 H 股类别股东会决议公告》 （公告编号：2025-021）。 1 陈胜光先生不存在未履行的公开承诺或义务，与公司董事会无任何 意见分歧，亦无任何与其辞任有关的事项须提请公司股东注意。 证券代码：601728 证券简称：中国电信 公告编号：2025-022 中国电信股份有限公司 关于非执行董事离任的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 | | | | | | | 是否继续 | 是否 ...

致：中国电信股份有限公司 北京市海问律师事务所 关于中国电信股份有限公司 2024 年年度股东大会、2025 年第一次 A 股类别股东会 和 2025 年第一次 H 股类别股东会的法律意见书 本所律师认为，本次会议的召集和召开程序、召集人的资格符合有关法律和公 司章程的有关规定。 二、出席本次会议现场会议人员资格 北京市海问律师事务所（以下简称"本所"）作为中国电信股份有限公司（以 下简称"中国电信"或"公司"）的常年法律顾问，应中国电信要求，根据《中华 人民共和国公司法》《中华人民共和国证券法》（以下统称"有关法律"）及《中国 电信股份有限公司章程》（以下简称"公司章程"）的规定，就中国电信于 2025 年 5 月 21 日召开的 2024 年年度股东大会（以下简称"本次股东大会"）、2025 年第一 次 A 股类别股东会（以下简称"A 股类别股东会"）和 2025 年第一次 H 股类别股 东会（以下简称"H 股类别股东会"，与本次股东大会及 A 股类别股东会合称"本 次会议"）出具本法律意见书。 一、本次会议的召集和召开程序 经核查《中国电信股份有限公司第八届董事会第十八次会议决议公告》《中国 电信股份有 ...

证券代码：601728 证券简称：中国电信 公告编号：2025-021 中国电信股份有限公司 2024年年度股东大会、2025 年第一次 A 股类别股东会 和 2025 年第一次 H 股类别股东会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 本次会议是否有否决议案：无 (四) 表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次会议由公司董事会召集，公司董事长柯瑞文先生主持会议。 本次会议的召集、召开和表决程序符合《公司法》和《公司章程》等有关规 一、 会议召开和出席情况 | 1、出席 | 2024 年年度股东大会的股东和代理人人数 | 3,152 | | --- | --- | --- | | 其中：A | 股股东人数 | 3,049 | | H | 股股东人数 | 103 | | 2、出席 | 2024 年年度股东大会的股东所持有表决权的股份总 | 69,837,545,051 | | 数（股） | | | 2024 年年度股东大会： (一) 股东大会召开的时间：2025 年 ...

Core Viewpoint - The launch of 5G-A marks an enhancement over 5G, providing improved network capabilities and catering to both individual and industrial user needs [1][4]. Group 1: 5G-A Commercial Launch - China Telecom officially announced the commercial launch of 5G-A on May 17, offering various packages priced at 199, 299, and 399 yuan [2]. - China Mobile introduced its "Three Major Feedback Plans" on May 15, targeting 5G-A users with packages ranging from 199 to 999 yuan per month, aiming to acquire 50 million 5G-A users this year [2]. - China Unicom's 5G-A packages include multiple tiers, such as youth, business, and cloud acceleration versions, with prices starting at 21.9 yuan for 10GB [2]. Group 2: Technological Advancements - 5G-A integrates new technologies like 3CC carrier aggregation and low-latency reliable networks, enabling advancements in various sectors such as low-altitude economy, smart cities, and industrial internet [1][4]. - The transition from 5G to 5G-A is a necessary step towards 6G, with significant improvements in capacity, speed, latency, positioning, and reliability [1]. Group 3: Market Impact - The introduction of 5G-A is expected to drive double-digit growth in DOU (average monthly data usage per household) and ARPU (average revenue per user) for telecom operators [3]. - Operators are shifting their focus from resource-oriented to application-oriented network operations, creating diverse packages tailored to specific user needs [4]. Group 4: Infrastructure Development - By 2024, over 100,000 5G-A base stations are projected to be deployed, with significant investments planned by major operators [5][6]. - China Mobile plans to invest 9.8 billion yuan in 2025 for 5G-A, aiming for extensive coverage in key urban areas [6][7]. Group 5: Investment Recommendations - In the current macroeconomic environment, telecom operators are recommended for investment due to their strong profitability and high dividends, with the acceleration of 5G-A commercialization expected to enhance operational efficiency [8].

Group 1 - The core viewpoint of the news is the launch of the "Internet + Bright Kitchen" initiative in Guangzhou, which aims to enhance food safety supervision in the takeout restaurant industry through digital means [1][2] - The initiative involves a collaboration between China Telecom Guangdong, Meituan, and the Guangzhou Market Supervision Administration to implement real-time monitoring and transparency in food preparation processes [1] - The new feature on the Meituan app allows consumers to view live kitchen operations, significantly increasing consumer trust and reducing complaint rates by 23%, while also boosting order volume by over 5% [1] Group 2 - The initiative represents a significant shift from traditional supervision to smart regulation, promoting a collaborative model of "government supervision + merchant self-discipline + platform empowerment + public oversight" [2] - The implementation of this system aims to transform "invisible kitchens" into "transparent kitchens," thereby ensuring food safety for the public [2]

Investment Rating - The industry investment rating is "Positive" [7] Core Viewpoints - The official launch of 5G-A is expected to enhance user value, providing significant improvements in capacity, speed, latency, positioning, and reliability compared to 5G [1][3] - Major telecom operators have commenced 5G-A commercial services, with China Mobile aiming to develop 50 million 5G-A users in 2024 [1][2] - 5G-A is anticipated to drive double-digit growth in DOU (average monthly data usage per user) and ARPU (average revenue per user) due to its integration with AI and the introduction of diverse service packages [3][4] - The infrastructure for 5G-A is being rapidly developed, with over 100,000 5G-A base stations expected to be deployed in 2024 [4][5] - Telecom operators are adjusting their investment structures to focus on the future development of 5G-A, with significant planned investments for 2025 [5][9] Summary by Sections 5G-A Commercial Launch - China Mobile, China Telecom, and China Unicom have all launched 5G-A service packages with various pricing tiers [1][2] - China Mobile's 5G-A package ranges from 199 to 999 yuan per month, targeting a user base of 50 million [1] - China Telecom offers three 5G-A packages priced at 199, 299, and 399 yuan, along with additional data packages [1][2] User Experience and Market Potential - The integration of 5G-A with AI is expected to transform network operations and enhance user experience through tailored service offerings [3] - New technologies such as 3CC carrier aggregation and low-latency networks are set to empower various industries, including smart cities and industrial internet [3][4] Infrastructure Development - The Ministry of Industry and Information Technology has outlined plans for nationwide 5G-A coverage in major cities [4] - China Mobile plans to invest 9.8 billion yuan in 2025 to expand its 5G-A infrastructure [5] Investment Recommendations - The report recommends investing in China Mobile, China Telecom, and China Unicom due to their strong profitability and high dividend yields amidst a complex macroeconomic environment [9]