Group 1 - The core index of the China Securities 1000 Communication Services Index closed at 5430.93 points, with a one-month increase of 9.14%, a three-month increase of 11.76%, and a year-to-date increase of 17.63% [1] - The index is composed of liquid and representative securities from each industry, providing a diversified investment target for investors [1] - The top ten weighted stocks in the index include: Tom Cat (3.33%), Changxin Bochuang (3.16%), Taicheng Light (3.08%), Yiyuan Communication (2.93%), Yinzhijie (2.92%), Jiecheng Co. (2.79%), Jibite (2.75%), Aofei Data (2.69%), Zhangqu Technology (2.64%), and Yunsai Zhiliang (2.4%) [1] Group 2 - The market share of the index's holdings is 67.08% from the Shenzhen Stock Exchange and 32.92% from the Shanghai Stock Exchange [1] - The industry composition of the index includes: Communication Equipment (33.79%), Cultural Entertainment (31.87%), Marketing and Advertising (15.06%), Data Center (6.97%), Telecom Value-Added Services (4.89%), Communication Technology Services (3.91%), and Digital Media (3.51%) [2] - The index samples are adjusted every six months, with adjustments implemented on the next trading day after the second Friday of June and December [2]

Core Viewpoint - The company is focusing on mobile communication technology services and expanding its business collaborations with operators and major equipment manufacturers in various fields, including digital economy and government enterprises [2] Group 1 - The company is committed to technological research and development based on the needs of operators and major equipment manufacturers [2] - The company is actively exploring business cooperation in areas such as government enterprises and the digital economy [2] - The company continues to invest in research and development of digital products related to the metaverse, virtual reality, and digital humans [2]

Core Viewpoint - The company aims to integrate various advantageous resources and expand new channels for development while focusing on its main business and development strategy [1] Group 1: Business Strategy - The company will continue to deepen its services in mobile communication technology, focusing on the needs of operators and major equipment manufacturers for technological research and development [1] - The company plans to actively expand business cooperation with operators and major equipment manufacturers in areas such as government and enterprise services and the digital economy [1] Group 2: Industry Opportunities - The low-altitude economy presents multiple opportunities for the communication industry, and the company intends to leverage its years of experience in the communication sector to track new industry opportunities [1] - The company will continue research and development in digital products related to the metaverse, virtual reality, and digital humans, aiming to expand related business [1]

Core Points - The Shanghai Composite Index decreased by 0.37%, while the China Securities Hong Kong 300 Communication Services Index (H300 Communication) reported at 1556.46 points [1] - The H300 Communication Index has seen a 5.23% increase over the past month, a 17.08% increase over the past three months, and a year-to-date increase of 30.66% [1] Index Composition - The top ten holdings of the H300 Communication Index are Tencent Holdings (14.99%), NetEase-S (14.07%), China Mobile (13.87%), Baidu Group-SW (12.98%), Kuaishou-W (12.55%), CK Hutchison (7.47%), China Telecom (4.55%), China Unicom (3.24%), Bilibili-W (2.84%), and China Tower (2.78%) [1] - The H300 Communication Index is composed entirely of stocks listed on the Hong Kong Stock Exchange [2] Sector Breakdown - The sector composition of the H300 Communication Index includes Digital Media (47.00%), Telecom Services (30.56%), Cultural Entertainment (15.63%), Communication Technology Services (2.78%), Data Centers (2.05%), Communication Equipment (1.02%), and Marketing & Advertising (0.96%) [2] Index Adjustment Mechanism - The index samples are adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December each year [2] - Weight factors are generally fixed until the next scheduled adjustment, with temporary adjustments made in response to changes in the underlying index samples [2]

来源：金融界 金融界8月1日消息，有投资者在互动平台向华星创业提问：请问公司5G -A应用产生业绩了没，目前公 司连年亏损！公司打算从哪些方面扭转盈亏？ 公司回答表示：您好，公司将围绕主营业务和发展战略，积极整合各种优势资源，拓展企业发展新渠 道，努力扩大业务盈利空间。公司将继续深耕移动通信技术服务，继续围绕运营商、主设备商等客户的 需求进行技术研发，同时积极拓展与运营商、主设备商等客户在政企、数字经济等其他领域的业务合 作。低空经济为通信行业带来了多方面的机遇，依托多年在通信行业领域积累的经验，积极追踪新的行 业机遇。公司将继续对于元宇宙、虚拟现实和数字人等数字产品的研究和开发，对相关业务进行拓展。 感谢您的关注！ ...

Core Viewpoint - The company is issuing A-shares to specific investors in 2025, which may dilute immediate returns, and has outlined measures to mitigate this impact [1][10]. Financial Impact of the Stock Issuance - The issuance will affect key financial metrics, with assumptions made for net profit scenarios: - If net profit remains flat compared to 2024, diluted earnings per share (EPS) will be approximately 0.3305 yuan [3][4]. - If net profit increases by 10% compared to 2024, diluted EPS will rise to about 0.3636 yuan [4]. - If net profit decreases by 10% compared to 2024, diluted EPS will drop to around 0.2975 yuan [4]. Necessity and Reasonableness of the Stock Issuance - The funds raised will be allocated to projects such as intelligent computing centers and 5G network construction, aligning with the company's core business and national industrial policies [6][8]. Company’s Preparedness for Investment Projects - The company has over 30 years of experience in the telecommunications sector and has established a strong technical team capable of executing complex projects [7][8]. - The company has successfully deployed multiple intelligent computing clusters, with total computing power exceeding 15,000P, indicating readiness to meet growing market demands [8]. Measures to Mitigate Dilution of Immediate Returns - The company plans to accelerate project construction and improve resource allocation to achieve expected outcomes quickly [10]. - It will enhance financial management to reduce costs and improve overall profitability, ensuring that existing business growth complements new projects [10]. - The company aims to strengthen internal controls and governance to safeguard shareholder interests, particularly for minority shareholders [10][11]. Commitment from Management - The board and senior management have committed to ensuring the effectiveness of the measures to mitigate the dilution of immediate returns, emphasizing their responsibility to protect shareholder interests [11][13].

Group 1 - The company plans to raise a total of up to RMB 1,920.23 million through a private placement of A-shares, with funds allocated for the construction of intelligent computing centers, 5G communication network projects, and repayment of bank loans [1][2] - The intelligent computing center project has a total investment of RMB 1,304.50 million, with RMB 1,102.20 million expected to be funded from the raised capital, aimed at providing computing power services and expanding new profit growth points [2][4] - The 5G communication network project has a total investment of RMB 532.04 million, with RMB 518.03 million planned to be funded from the raised capital, to meet the growing demand for 5G network services [8][9] Group 2 - The intelligent computing center project is essential for supporting the rapid growth of artificial intelligence computing power demand and enhancing the company's competitive edge in the intelligent computing sector [3][5] - The project is backed by national policies promoting the development of artificial intelligence and data economy, creating a favorable environment for its implementation [5][6] - The company has established a professional technical team and has accumulated extensive project experience, which will support the construction and operation of the intelligent computing center [7][8] Group 3 - The repayment of bank loans using RMB 300 million from the raised funds aims to improve the company's capital structure and enhance its financial risk resistance [12][13] - As of March 31, 2025, the company had total assets of RMB 7,968.89 million and total liabilities of RMB 5,827.44 million, indicating a relatively high debt ratio of 73.13% [13][14] - The issuance of funds is expected to enhance the company's overall competitiveness and sustainable development capabilities, aligning with the interests of all shareholders [15]

Core Viewpoint - China Bester Group Telecom Co., Ltd. plans to issue A-shares to specific investors to raise funds for the construction of intelligent computing centers and to repay bank loans, aiming to enhance its competitiveness in the AI and 5G sectors [9][12][21]. Group 1: Company Overview - Company Name: China Bester Group Telecom Co., Ltd. [9] - Registered Capital: 433,972,686 RMB [9] - Established: December 29, 1999 [9] - A-share Code: 603220 [9] - Main Business: 5G communication technology services, information system integration, and AI computing services [9]. Group 2: Purpose of the Issuance - The issuance aims to support the construction of intelligent computing centers, repay bank loans, and optimize the company's capital structure [12][21]. - The intelligent computing center project has a total investment of 130,450.39 million RMB, with 110,220.00 million RMB planned to be funded through this issuance [18][21]. Group 3: Market Context - The demand for intelligent computing is rapidly increasing due to the growth of AI applications across various sectors, including manufacturing, healthcare, and transportation [10][12]. - China's intelligent computing capacity is projected to grow from 75.0 EFLOPS in 2020 to 725.3 EFLOPS by 2024, with a compound annual growth rate of 76.35% [10][28]. Group 4: Regulatory and Approval Process - The issuance requires approval from the China Securities Regulatory Commission and the Shanghai Stock Exchange [12][19]. - The final number of shares to be issued will not exceed 30% of the company's total share capital prior to the issuance [16][20]. Group 5: Financial Structure and Use of Proceeds - The total amount to be raised is capped at 192,023.48 million RMB, which will be allocated to the intelligent computing center and loan repayment [18][21]. - The company plans to adjust the allocation of funds based on the actual amount raised and project priorities [18][21]. Group 6: Strategic Importance - The project aligns with national policies promoting data infrastructure and AI development, creating a favorable environment for the company's growth [22][27]. - The intelligent computing center is expected to enhance the company's capabilities in AI and 5G, supporting its long-term strategic goals [12][22].

Group 1 - The core purpose of the issuance is to meet the company's business development needs, enhance profitability, and maintain industry leadership [1][2] - The issuance is driven by the rapid growth of the artificial intelligence industry and the increasing demand for intelligent computing power, which is expected to grow from 75.0 EFLOPS in 2020 to 725.3 EFLOPS in 2024, with a compound annual growth rate of 76.35% [2][3] - The company aims to expand its investment in AI computing and 5G infrastructure to meet the growing market demand and enhance its competitive capabilities [4][5] Group 2 - The company plans to issue A-shares to a maximum of 35 specific investors, including qualified institutional investors and other eligible entities [6][7] - The issuance price will be based on the average trading price of the company's shares over the 20 trading days prior to the pricing date, with a minimum price set at 80% of this average [8][9] - The issuance is compliant with relevant laws and regulations, ensuring that the process is legal and follows proper procedures [10][11] Group 3 - The company has a strong foundation in personnel, technology, and market reserves, having established itself as a key service provider in the telecommunications sector for over 30 years [17][18] - The company has successfully built multiple intelligent computing clusters and has a total computing power exceeding 15,000P, serving major clients in the AI sector [19][20] - The fundraising will be used for projects that align with the company's core business and future strategic direction, enhancing its market competitiveness and profitability [21][22] Group 4 - The company has outlined measures to mitigate the potential dilution of immediate returns from the issuance, including efficient resource allocation and accelerated project implementation [21][22] - The company commits to maintaining a stable dividend policy and ensuring reasonable returns for shareholders, particularly small investors [22][23] - The board of directors and senior management have made commitments to ensure the effective execution of measures to protect shareholder interests [24][25]

General Provisions - The company establishes the General Manager's Work Rules to ensure institutionalized, standardized, and scientific management in line with modern enterprise systems and relevant laws [1] - The General Manager is responsible for daily operations under the Board of Directors and must execute Board resolutions [1] Appointment of General Manager - The General Manager is nominated by the Chairman and appointed by the Board, with a term of three years, renewable [2] - The General Manager and senior management must be full-time and cannot hold other positions in controlling shareholders or related enterprises [2] Powers and Duties of the General Manager - The General Manager has the authority to manage daily operations, implement Board decisions, and represent the company in agreements [3][4] - Responsibilities include drafting internal management structures, proposing appointments of senior management, and handling major emergencies [4][5] General Manager's Meetings - The General Manager's office meetings are held monthly to discuss significant operational issues and provide decision-making support [6][7] - Meeting records must be maintained for at least ten years, detailing attendees and decisions made [7][10] Dismissal of the General Manager - The Board must dismiss the General Manager under specific conditions, such as resignation or inability to perform duties [8][9] - The General Manager must submit a resignation report two months in advance, and resignation is effective only upon Board approval [8][11] Reporting Obligations - The General Manager must report to the Board or Audit Committee on various operational matters, including annual plans and major contracts [12][13] - Immediate reporting is required for significant disputes, accidents, or regulatory penalties [13]