China Mobile Limited (00941): Further convert Shanghai Pudong Development Bank A-share convertible bonds.

China Mobile Limited (00941) announced that on October 27, 2025, Guangdong Mobile exercised its exchange rights to convert a total face value of RMB 366,000 (approximately HK$401,100) of Shanghai Pudong Development Bank convertible bonds A shares at a conversion price of RMB 12.51 per share (approximately HK$13.71), resulting in approximately 29,300 shares of Shanghai Pudong Development Bank A shares. The actual number of Shanghai Pudong Development Bank A shares converted may vary due to settlement and delivery reasons. Before the conversion, the group held a total of 6.053 billion shares of Shanghai Pudong Development Bank A shares, representing approximately 18.18% of the issued share capital of Shanghai Pudong Development Bank. After the conversion, the group still holds 6.053 billion shares of Shanghai Pudong Development Bank A shares (subject to adjustments due to settlement and delivery), representing approximately 18.18% of the enlarged issued share capital of Shanghai Pudong Development Bank. After the conversion, Guangdong Mobile still holds a total face value of RMB 95.604 million (approximately HK$105 million) of Shanghai Pudong Development Bank convertible bonds A shares, which will mature on October 27, 2025. The group has no intention to exercise the exchange rights. The conversion allows Guangdong Mobile to subscribe for Shanghai Pudong Development Bank A shares at a price comparable to market trading prices, while also benefiting Shanghai Pudong Development Bank in supplementing its core Tier 1 capital, enhancing its capital strength and risk resistance, enabling the group to better share in Shanghai Pudong Development Bank's operational performance. The directors believe that the terms and conditions of the conversion are fair and reasonable, and in the overall interests of the company and its shareholders.