HKBN (01310) announced that it has been informed by China Mobile Hong Kong Limited (China Mobile HK) that solely for the purpose of restoring the Company's public float in accordance with Rule 8.08(1) of the Listing Rules, China Mobile HK entered into a binding placing arrangement with a placing agent on September 19, 2025. Under this arrangement, China Mobile HK has agreed to sell, and the placing agent has agreed to place, 47.925 million existing shares of the Company (the "Placing Shares") to placees who are independent third parties of the Company (the "Placing").

The Placing Shares represent approximately 3.24% of the total number of issued shares of the Company as of the date of this announcement. The Company is aware that the Placing is currently expected to be completed on September 24, 2025. The Company anticipates that the Placing will not have any material adverse impact on the Group's operations.

As of the date of this announcement, China Mobile HK is the controlling shareholder of the Company (as defined in the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules")) and holds interests in an aggregate of 1.155 billion shares (together with its concert parties), representing approximately 78.08% of the total number of issued shares.

Based on the completion of the Placing as described above and assuming that the total number of issued shares remains unchanged between the date of this announcement and the completion date of the Placing, it is expected that China Mobile HK (together with its concert parties) will hold interests in an aggregate of 1.107 billion shares, representing approximately 74.84% of the total number of issued shares upon completion of the Placing.

Therefore, as of the date of this announcement, the Company does not comply with the minimum public float requirement of 25% as stipulated in Rule 8.08(1) of the Listing Rules. The Company and China Mobile HK will take appropriate measures to ensure that there is sufficient public float of the Company's shares as soon as practicable.