HKBN Ltd. (1310) has entered into new master agreements with China Mobile Hong Kong Company Limited (CMHK) and China Mobile International Limited (CMI), both indirect subsidiaries of China Mobile. These agreements cover a range of telecommunications and technology services for a term ending on 31 August 2028.

According to the announcement, the new arrangements comprise two sets of master agreements. The first set—Master CM Services Agreements—governs services such as fixed telecommunications network (“FTNS”), international telecommunications, mobile, wholesale international direct dialling, premises licensing, data center leasing, as well as technology solutions and consultancy. The second set—Master HKBN Services Agreements—details services provided by HKBN Ltd. to China Mobile Group, including broadband resale arrangements, FTNS, wholesale IDD, data center leasing, technology and consultancy, mobile backhaul rental, and sales agency for mobile services.

The annual caps for these transactions are set with reference to historical usage, inflation, and expanded business collaborations following CMHK’s majority stake in HKBN Ltd. Because the highest applicable percentage ratios of the relevant agreements are below 5%, they are subject to reporting, annual review, and announcement requirements under the Listing Rules, without requiring independent shareholders’ approval.

HKBN Ltd. notes that these continuing connected transactions are expected to foster synergy and operational efficiency by leveraging the respective strengths and resources of both parties. Certain directors holding positions in CMHK abstained from voting on the relevant board resolutions due to their material interests in these transactions. The company has also implemented measures to refine its internal monitoring and compliance procedures in relation to connected transactions.