Recently, the Peking Securities Regulatory Bureau visited CHINA MOBILE, China United Network Communications, and CHINA TELECOM, engaging in in-depth discussions with the companies regarding governance structure, Cash / Money Market dividends, Market Cap management, social responsibility, market prospects, and future Global Strategy. Listed companies stated during the research that they are currently at a critical stage for high-quality development and hope that regulatory agencies can provide more guidance on the new policies in the Capital Markets, continuously improving the compliance operation level of listed companies and urging them to enhance compliance awareness and risk prevention capabilities. The Peking Securities Regulatory Bureau affirmed the measures taken by the three major operators to accelerate the development of new quality productivity and promote digital transformation, and stated that companies should fully demonstrate the responsibilities of state-owned enterprises, better serve the construction of a strong network nation and Digital China, and strive to become world-class enterprises. Firstly, focus on the main responsibilities and business, lead high-quality development by serving national strategies, courageously become pioneers of innovation, and strengthen the basic value creation foundation. Secondly, strengthen the internal driving force for compliance in corporate governance, and take on a stronger mission to set an example for integrity in the Capital Markets and standardized operations. Thirdly, reasonably utilize Capital Markets tools, implement Shareholder Shareholding, share repurchase and other Market Cap management measures, actively maintain the company’s Market Cap, and effectively protect the interests of Shareholders. Fourthly, enhance effective communication and interaction with investors, promptly convey the latest developments in the company's operations to the market, and actively listen to investors' voices. The Peking Securities Regulatory Bureau will continue to enhance the interpretation of regulatory rules and case warnings through training sessions held in collaboration with the Beijing Listed Company Association and the release of regulatory communications, guiding market participants to operate in a regulated manner.