PetroChina Company Limited announced today that China National Petroleum Corporation (CNPC) plans to transfer 541,202,377 A-shares of PetroChina Company Limited (representing 0.30% of the company's total share capital) to China Mobile Communications Group Co., Ltd. through a state-owned share transfer arrangement.

This shareholder equity change is due to the state-owned share transfer and does not involve a takeover offer. The transfer will not result in changes to the company's controlling shareholder or actual controller. The transfer still requires approval from the State-owned Assets Supervision and Administration Commission of the State Council and completion of share transfer registration procedures.

According to the announcement, before the transfer, CNPC directly held 150,923,565,570 A-shares of the company, accounting for 82.46% of the total share capital, and indirectly held 291,518,000 H-shares through its wholly-owned overseas subsidiary FairyKing Investments Ltd., representing 0.16% of the total share capital. China Mobile Group held 178,794,300 shares through its subsidiary China Mobile Communications Corporation Limited, representing 0.10% of the total share capital.

After the transfer, CNPC will directly hold 150,382,363,193 A-shares, accounting for 82.17% of the total share capital, and indirectly hold 291,518,000 H-shares through its wholly-owned overseas subsidiary FairyKing Investments Ltd., representing 0.16% of the total share capital. CNPC and its wholly-owned overseas subsidiary will collectively hold 150,673,881,193 shares, representing 82.33% of the total share capital. China Mobile Group will directly hold 541,202,377 A-shares, accounting for 0.30% of the total share capital, and hold 178,794,300 shares through its subsidiary China Mobile Communications Corporation Limited, representing 0.10% of the total share capital. China Mobile Group and its subsidiaries will collectively hold 719,996,677 shares, representing 0.39% of the total share capital.

To further deepen the strategic cooperation between CNPC and China Mobile Group, expand cooperation areas, optimize the company's equity structure, and achieve complementary advantages, win-win cooperation, and mutual development, CNPC plans to transfer its 541,202,377 A-shares (representing 0.30% of the company's total share capital) to China Mobile Group through the state-owned share transfer method. As of the September 2 closing, PetroChina's A-share price was 9.08 yuan, making the transferred shares worth approximately 4.912 billion yuan.