Core Viewpoint - China Unicom announced the resignation of Mr. Chen Zhongyue from his positions as Executive Director, Chairman, and CEO, effective from October 29, 2025 [1] Company Summary - Mr. Chen Zhongyue's resignation is due to work relocation [1] - The resignation will take effect in the future, indicating a planned transition in leadership [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任 何聲明，並明確表示，概不對因公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 CHINA UNICOM (HONG KONG) LIMITED 中國聯合網絡通信(香港)股份有限公司 （在香港註冊成立之有限公司） （股份代號：762） 董事長兼首席執行官辭任 中國聯合網絡通信（香港）股份有限公司（「本公司」）董事會（「董事會」）宣佈， 陳忠岳先生因工作調動，已辭任本公司執行董事﹑董事長兼首席執行官及提名委員會委 員職務，自2025年10月29日起生效。陳忠岳先生已確認與董事會並無任何意見分歧，而 就其辭任一事，亦無任何其他事宜需提呈本公司股東注意。 陳忠岳先生擔任本公司董事長期間，勤勉敬業，恪盡職守，求真務實，銳意進取，為本 公司改革發展開創了新的局面、作出了卓越貢獻。陳忠岳先生在任期間，帶領本公司積 極服務國家戰略，不斷深化融合創新，有力推動企業高質量發展邁出更大步伐。 在陳忠岳先生的帶領下，本公司聚焦網絡強國、數字中國主責，深耕聯網通信、算網數 智主業，將聯網通信作為服務網絡強國的 ...

執行董事 簡勤 （總裁） 唐永博 李玉焯 （首席財務官） CHINA UNICOM (HONG KONG) LIMITED 獨立非執行董事 中國聯合網絡通信(香港)股份有限公司 （在香港註冊成立之有限公司） （股份代號：762） 董事名單及其角色和職能 中國聯合網絡通信(香港)股份有限公司董事會（「董事會」）成員載列如下：- 審計委員會 鍾瑞明 （主席） 張永霖 羅范椒芬 范駿華 薪酬委員會 張永霖 （主席） 鍾瑞明 范駿華 鍾瑞明 （主席） 羅范椒芬 香港，2025年10月29日 董事會設有三個董事委員會。董事委員會的組成如下：- 張永霖 鍾瑞明 羅范椒芬 范駿華 提名委員會 ...

Core Insights - The fourth China IPv6 Innovation Development Conference released the "China IPv6 Development Report (2025)", highlighting significant advancements in IPv6 development in China, with key indicators showing rapid growth and a positive development trend [1] Group 1: Key Development Indicators - As of September 2025, the number of active IPv6 users in China reached 865 million, a 294-fold increase from 2.93 million in 2017, with a user penetration rate of 77.02% [1] - The proportion of IPv6 traffic in total mobile and fixed network traffic reached 34.02%, with mobile network IPv6 traffic averaging 69.02%, a nearly 14-fold increase since the end of 2019 [1] - In February 2023, mobile network IPv6 traffic surpassed 50% for the first time, marking a historic shift where IPv6 traffic exceeded IPv4 traffic [1] Group 2: Network Infrastructure Upgrades - Major telecom companies in China have completed IPv6 upgrades across their backbone networks, metropolitan area networks, and 4G networks, with all new 5G networks and gigabit optical networks also supporting IPv6 [3] - By September 2025, the international IPv6 bandwidth of the three major telecom companies reached 11.32 Tbps, over 100 times the capacity in 2019 [3] Group 3: Application Infrastructure Improvements - All major telecom companies have completed IPv6 upgrades for their data centers and DNS, with over 95% of cloud products now supporting IPv6 [5] - The IPv6 support rate for major content delivery networks (CDN) reached 94.93% as of September 2025, with enhanced capabilities for IPv6 traffic acceleration [5] Group 4: Terminal Support Capabilities - All new mobile terminals since 2019 are configured to support both IPv4 and IPv6, with major smartphone brands enabling IPv6 by default [7] - As of September 2025, the IPv6 activation rate for home gateways reached 96.86%, and over 90% of home routers in use support IPv6 [7] Group 5: Expanding Application Depth and Breadth - Government websites and services have significantly improved their IPv6 support, with over 95% of county-level government portals now IPv6 compatible [9] - The IPv6 support rate for the top 200 apps and 100 commercial websites in China reached 97.33%, with an average IPv6 traffic share of 74.51% for these apps [9] Group 6: Technological Innovation and Standards - A comprehensive IPv6 evolution technology system has been established, with over 1,000 deployments across various sectors, including government, finance, and education [11] - By September 2025, China had published 138 IPv6 industry standards and initiated 52 national standards, enhancing the IPv6 standard system [12] Group 7: Security Enhancement - The management and supervision of IPv6 network security have improved, with over 3,000 malicious IPv6 address segments monitored and over 20,000 incidents of controlled IPv6 botnets addressed [14] - The release of national standards for IPv6 network security devices has led to comprehensive coverage of IPv6 functionalities in mainstream security products [15] Group 8: Pilot Demonstrations and Promotion - The central government has initiated pilot projects to enhance IPv6 deployment, with significant increases in IPv6 traffic in selected cities [16] - Various forums and promotional activities have been organized to raise awareness and acceptance of IPv6 across different sectors [17]

Core Viewpoint - The approval for commercial trials of eSIM mobile services has been granted to China Unicom, China Mobile, and China Telecom, highlighting the technological advantages of eSIM cards such as card-free activation and seamless global roaming, which cater to diverse communication needs and present opportunities for domestic software and systems [1] Group 1 - eSIM technology is integrated into mobile chips, eliminating the need for physical SIM cards, thus enhancing convenience and flexibility for users [1] - The adoption of eSIM technology promotes the lightweight design of terminal devices and increases collaboration opportunities within the industry chain [1] - Currently, eSIM phones are utilized in the Internet of Things (IoT) sector, with plans for future expansion to more devices, providing innovative development space for China Mobile, Unicom, and Telecom [1]

Leadership Changes - Yang Jie has resigned as the Chairman of China Mobile, with Chen Zhongyue, the former Chairman of China Unicom, taking over the position [1] - Chen Zhongyue, aged 54, has extensive experience in the telecommunications industry, having previously held various senior roles at China Telecom and China Unicom [1] Financial Performance - For the first three quarters of 2025, China Mobile reported a revenue of 794.7 billion yuan, a year-on-year increase of 0.4%, with a net profit margin of 14.5%, up by 0.5 percentage points [2] - In Q3, China Mobile's revenue reached 250.9 billion yuan, reflecting a 2.5% year-on-year growth, while the net profit attributable to shareholders was 31.1 billion yuan, up by 1.4% [2] - China Unicom reported a revenue of 292.99 billion yuan for the first three quarters, a 1% increase year-on-year, with a net profit of 8.77 billion yuan, up by 5.2% [2] - In Q3, China Unicom's revenue was 92.78 billion yuan, remaining flat compared to the same period last year, while the net profit increased by 5.4% to 2.42 billion yuan [2]

Core Points - The case of Cao Xingxin, former member of the Party Leadership Group and Vice General Manager of China United Network Communications Group Co., Ltd., has been publicly sentenced to twelve years in prison for bribery, along with a fine of 2 million RMB [3][6] - The court found that from 2005 to 2024, Cao utilized his positions to facilitate project contracts, job adjustments, and promotions for others, receiving bribes totaling over 26.75 million RMB [4][6] Summary by Sections - **Judicial Outcome** - Cao Xingxin was sentenced to twelve years in prison and fined 2 million RMB for bribery [3][6] - All illicit gains and their proceeds have been confiscated and turned over to the national treasury [3][6] - **Details of the Crime** - Between 2005 and 2024, Cao leveraged his official positions to assist others in securing project contracts and promotions, receiving bribes amounting to over 26.75 million RMB [4][6] - The court recognized the particularly large amount of bribery and the presence of attempted bribery, which contributed to the sentencing [6] - **Court Proceedings** - The trial was held on August 1, 2025, with evidence presented by the prosecution and Cao admitting to his crimes [6] - The court considered mitigating factors such as Cao's confession, restitution of the bribes, and cooperation with the investigation [6]

Core Points - The former member of the Party Leadership Group and Vice General Manager of China Unicom, Cao Xingxin, was sentenced to 12 years in prison for bribery, involving over 26.75 million yuan [1][2][4] Group 1: Case Details - From 2005 to 2024, Cao Xingxin utilized his positions in various governmental and corporate roles to provide assistance in project contracting, job adjustments, and promotions, receiving illegal benefits totaling over 26.75 million yuan [3][4] - The court found that Cao's actions constituted a serious crime of bribery, with the amount being particularly large, warranting legal punishment [4] - The court considered mitigating factors such as Cao's confession, active restitution of embezzled funds, and the fact that he had not completed the crime, leading to a lighter sentence [4] Group 2: Disciplinary Actions - Cao Xingxin was expelled from the Party and public office due to severe violations of political, organizational, and disciplinary regulations, as well as engaging in bribery [5] - His case was reported to the prosecutorial authorities for legal examination and prosecution, with all illicit gains being confiscated [5][6] - The investigation into Cao began on September 28, 2024, highlighting the ongoing scrutiny of public officials' conduct [6] Group 3: Background Information - Cao Xingxin, born in October 1966, held various significant positions, including Vice General Manager of China Unicom and Deputy Director of the Central Organization Department [7]

Core Insights - Chen Zhongyue has been appointed as the Chairman and Party Secretary of China Mobile Communications Group Co., Ltd, transitioning from his previous role as Chairman of China Unicom [1][3] - Chen Zhongyue has a strong educational background with degrees from Shanghai University of Post and Telecommunications, Zhejiang University, and Xiamen University [1] - The leadership of China Mobile is increasingly composed of former China Unicom executives, indicating a trend of personnel movement within the telecommunications industry [3] Group 1 - Chen Zhongyue was born in June 1971 and has been involved in the telecommunications sector since 1990, holding various positions within China Telecom before moving to China Unicom [1][3] - His career progression includes roles such as Vice General Manager of China Telecom's Zhejiang branch and General Manager of the Public Customer Business Unit [3] - In January 2021, he became the General Manager and Deputy Secretary of the Party Committee of China Unicom, and in November 2023, he was promoted to Chairman [3] Group 2 - The recent leadership changes at China Mobile, including the appointment of He Biao as General Manager, reflect a significant shift in the company's management structure [3] - The telecommunications industry is characterized by interconnections between companies, with leaders moving between firms, suggesting a collaborative yet competitive environment [3]

Core Viewpoint - The Guangfa CSI National New Hong Kong Stock Connect Central State-Owned Enterprises Dividend ETF (520900) has experienced a decline in both share count and total assets in 2024, indicating potential challenges in attracting investor interest [1][2]. Fund Overview - The fund was established on June 26, 2024, with an annual management fee of 0.50% and a custody fee of 0.10% [1]. - As of October 27, 2024, the fund's total share count is 1.593 billion shares, with a total asset size of 1.703 billion yuan [1]. - The fund's share count has decreased by 36.42% and total assets by 26.58% since December 31, 2024 [1]. Liquidity Analysis - Over the last 20 trading days, the fund has accumulated a total trading volume of 1.108 billion yuan, averaging 55.42 million yuan per day [1]. - Year-to-date, the fund has seen a total trading volume of 18.107 billion yuan, with an average daily trading volume of 91.92 million yuan across 197 trading days [1]. Fund Management - The current fund managers are Huo Huaming and Lü Xin, with respective management periods yielding returns of 8.60% and 22.17% [2]. - Huo Huaming has managed the fund since its inception, while Lü Xin is set to manage it starting April 30, 2025 [2]. Top Holdings - The fund's major holdings include: - China Petroleum & Chemical Corporation (10.86% holding) - China Mobile (10.32% holding) - China Shenhua Energy (9.70% holding) - CNOOC Limited (9.52% holding) - COSCO Shipping Holdings (8.42% holding) - China Petroleum & Chemical Corporation (7.40% holding) - China Telecom (4.53% holding) - China Unicom (3.44% holding) - China Coal Energy (2.59% holding) - China Resources Land (2.22% holding) [2][3].