Core Viewpoint - The announcement details a significant equity change involving China United Network Communications Group Co., Ltd. (China Unicom) due to the reduction of shares held by its major shareholder, the China State-Owned Enterprise Structural Adjustment Fund Co., Ltd. (Structural Adjustment Fund), which has decreased its stake to 5% [3][4][8]. Group 1: Shareholding Changes - On October 11, 2025, the company disclosed a share reduction plan by the Structural Adjustment Fund, which aimed to reduce its holdings by up to 375,173,104 shares [6]. - As of January 29, 2026, the Structural Adjustment Fund has reduced its holdings from 1,899,764,201 shares (6.08%) to 1,563,221,267 shares (5.00%) through various trading methods [3][7][16]. - The total shares reduced by the Structural Adjustment Fund from November 13, 2025, to January 29, 2026, amounted to 295,842,634 shares, representing 0.95% of the company's total share capital [7][8]. Group 2: Strategic Implications - The reduction in shareholding is part of a normal equity arrangement by the Structural Adjustment Fund, aimed at optimizing state capital structure and meeting its own development needs, without affecting the control of the company [4][8]. - The Structural Adjustment Fund remains optimistic about China Unicom's development prospects and intends to continue deepening strategic cooperation across various fields [4][8]. - The company plans to leverage its diverse board governance to enhance collaboration with strategic investors, contributing to high-quality development [4][8].

Group 1 - The shareholder China National Enterprise Structural Adjustment Fund Co., Ltd. reduced its stake from 185,906.39 million shares (5.95%) to 156,322.13 million shares (5.00%) [1] - The total number of shares reduced is 29,584.26 million, accounting for 0.95% of the total share capital [1] - The reduction was executed through centralized bidding (27,194.39 million shares) and block trading (2,389.87 million shares) [1] Group 2 - The reduction period is from November 13, 2025, to January 29, 2026 [1] - This reduction is part of a previously disclosed plan on October 11, 2025, which aims to reduce no more than 1.20% of the shares [1] - The structural adjustment fund is not a controlling shareholder, and this reduction does not trigger a mandatory takeover bid or change the company's control [1] Group 3 - The purpose of the reduction is to optimize the state-owned capital structure, while the structural adjustment fund continues to have a positive outlook on the company's development prospects and aims to deepen strategic cooperation [1]