Core Viewpoint - The announcement by CITIC International Telecom (01883) regarding the extension of the franchise contract with the Macau government is expected to benefit the future development of Macau Telecom and support its role in the social development of Macau [1][2]. Group 1: Franchise Contract Details - The franchise contract between Macau Telecom and the Macau government will be extended for two years, from October 1, 2025, to September 30, 2027 [1]. - After September 30, 2026, the Macau government can terminate the franchise contract with a 60-day notice [1]. - Designated assets and investments under the franchise contract will become property of the Macau SAR on October 1, 2025, while Macau Telecom retains the right to continue using these assets [1]. - From October 1, 2025, the franchise assets will be opened for shared use by public telecommunications operators in the Macau SAR based on principles of fairness, transparency, and user payment [1]. - Macau Telecom will assist the Macau government in managing shared asset applications starting January 1, 2026, including establishing management systems and fee structures [1]. - The book value of the franchise assets as of June 30, 2025, is approximately HKD 215 million [1]. Group 2: Company Perspective - The company views the signing of the supplementary contract as a continuation of the principles established in the previous supplementary contract dated September 30, 2024, which will be beneficial for its future development [2]. - Macau Telecom aims to continue its supportive role in the development and service functions for the Macau society [2]. - The company has submitted an application to the Hong Kong Stock Exchange to resume trading of its shares starting from September 18, 2025 [2].