Major shareholders continue to be optimistic about the development of the company:

The chairman and chief executive officer and two other executive directors increase their holdings in the company at an average price of about HK $4.50 per share. It shows shareholders' confidence in future development. The company said that the era of the Internet of everything has begun, and it will continue to be optimistic about the connection value created in the future, jointly open a new situation in the development of 5G development, and work with the company to connect the development of the Internet of everything smart world.

Comments:

The increase of major shareholders shows that the management continues to be optimistic about business growth, and the company currently provides technical standard-setting and traffic cash services for Chinese mobile phone smart manufacturers, which is of great value to the industry. At present, revenue and the number of customers maintain a fairly high growth rate. It is expected that with the commercialization of 5G in the future, the company's advertising services, business scenario analysis and data analysis will be brought into full play. Among them, Express Application Service will become a new business carrier in the 5G era. According to official data, Express App has covered 1 billion devices, the number of monthly active users has reached 200 million, and opened Fast Apps for a total of 2 billion times. The future ecological market space is huge, the company will share the dividend of traffic growth brought by the new 5G era. With regard to the trade friction between China and the United States, which led to the industry changes brought about by Huawei's decision to use the Hongmeng system, we believe that, first of all, the trade friction does not affect the rapid growth trend of China Mobile Limited's Internet market, and there is still a huge demand for traffic to be realized in the market. Secondly, assuming Huawei finally decides to fully adopt the new operating system, then it is bound to reframe the relevant app store services or payment services from Alphabet Inc-CL C to its own channel. According to the current status of Chinese mobile phone manufacturers allied overseas, other overseas mobile phone manufacturers will also follow the leader and gradually launch their own systems or break away from Alphabet Inc-CL C's system, then relevant SaaS service providers will gain new market space. As far as we know, at present, the management of the company is still strongly optimistic about its own business development and still hopes to strengthen its control over the company as a whole, while other original shareholders also hope to continue to share the value brought about by the company's growth. No major capital structure changes are expected in the short term. According to our expectations for the rapid growth of the company's future performance, we continue to be optimistic about the future market performance.