China Mobile Limited (“China Mobile”) announced on 21 March 2024 that, subject to Board deliberation, the maximum amount of daily associated transactions between China Mobile Communications Group Limited (“China Mobile Group Company”) and its effective controller China Mobile Communications Group Limited (“China Mobile Group Company”) was approved by the Board of Directors. This adjustment involves day-to-day associated transactions to the normal operations required for the company's operations and is conducted on the basis of marketing principles to maximize efficiency and optimize operational efficiency. According to the announcement, the maximum amount of telecommunications business and information services sold by China Mobile Group to China Mobile Group Corporation in 2024 is expected to be adjusted from $1 billion to $2 billion, while the purchase...Show More

China Mobile Limited (“China Mobile”) announced on 21 March 2024 that, subject to Board deliberation, the maximum amount of daily associated transactions between China Mobile Communications Group Limited (“China Mobile Group Company”) and its effective controller China Mobile Communications Group Limited (“China Mobile Group Company”) was approved by the Board of Directors. This adjustment involves day-to-day associated transactions to the normal operations required for the company's operations and is conducted on the basis of marketing principles to maximize efficiency and optimize operational efficiency. According to the announcement, the maximum amount of telecommunications business and information services sold by China Mobile Group to China Mobile Group Corporation in 2024 is expected to be adjusted from $1 billion to $2 billion, while the purchase ceiling will remain at $8 billion. THE ADJUSTMENT IS NOT SUBJECT TO SUBMISSION TO THE GENERAL MEETING AND THE INDEPENDENT NON-EXECUTIVE DIRECTORS HAVE ISSUED AN INDEPENDENT OPINION THAT THE ADJUSTMENT IS IN THE BEST INTERESTS OF THE COMPANY AND SHAREHOLDERS AS A WHOLE AND DOES NOT AFFECT THE INDEPENDENCE OF THE COMPANY. Founded in 1999, China Mobile Group Corporation is the de facto controller of China Mobile and covers a wide range of businesses. China Mobile said that the adjustment of this daily linked transaction will not adversely affect the company's financial condition and operating results.