China Mobile Limited announced that on 27 October 2025, its wholly-owned subsidiary, Guangdong Mobile, exercised conversion rights on SPD Bank A-Shares Convertible Bonds with an aggregate principal amount of RMB366,000 (approximately HK$401,091). This transaction resulted in an additional acquisition of around 29,256 SPD Bank A-Shares at a conversion price of RMB12.51 (approximately HK$13.71) per share. The highest applicable percentage ratio related to this deal (when aggregated with prior acquisitions) exceeds 5% but remains below 25%, thereby qualifying it as a discloseable transaction under the Hong Kong Listing Rules.

Prior to the conversion, the group held 6,053,466,194 SPD Bank A-Shares, representing approximately 18.18% of SPD Bank’s issued share capital. Following the transaction, it now holds 6,053,495,450 SPD Bank A-Shares, which represents about 18.18% of SPD Bank’s enlarged capital base. Guangdong Mobile continues to hold RMB95,604,000 (approximately HK$104,770,359) in principal amount of SPD Bank A-Shares Convertible Bonds yet does not plan to exercise further conversion rights.

SPD Bank is listed on the Shanghai Stock Exchange (stock code: 600000) and reported a net profit of RMB37,429 million in 2023, RMB45,835 million in 2024, and RMB29,894 million for the six months ended 30 June 2025 under International Financial Reporting Standards. The conversion helps strengthen SPD Bank’s core tier-one capital while allowing China Mobile to better share in SPD Bank’s operating results.