NANFANG COMM(01617) plans to sell approximately 4.00% of its stake in Source Photonics. Trading will resume on June 24th.

NANFANG COMM (01617) announced that on June 13, 2025, the company's indirect wholly-owned subsidiary Pacific Smart, the buyer Super Genius Group (Hong Kong) Limited, and Suzhou Dongshan Precision Manufacturing entered into a sale and purchase agreement. Pacific Smart conditionally agreed to sell and the buyer conditionally agreed to purchase the shares for a price of 25.1811 million US dollars (equivalent to approximately 181 million RMB, converted at the announced exchange rate). As of the date of the agreement, the shares for sale represent approximately 4.00% equity in the target company Source Photonics Holdings (Cayman) Limited, and are all Class A preferred shares held by Pacific Smart. The target group is a global leading supplier of advanced technology solutions for optical communication and data connectivity. Since the company's equity interest in the target company is less than 5%, the target company is not considered a subsidiary of the company. Since the company's investment in the target company in 2020, the company has treated this investment as a single item under financial assets at fair value through profit or loss in the company's consolidated financial statements. Therefore, the financial information of the target company has not been consolidated into the company's consolidated financial statements. The company has applied to the Stock Exchange for the resumption of trading of shares on the Stock Exchange starting at 9 am on June 24, 2025.