hk-ipo/data/extracted_text/00638/allotment_results_2025-10-21_2025102101036.txt

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Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited (the “Stock Exchange ”)
and Hong Kong Securities Clearing Company Limited ( “HKSCC ”) take no responsibility for the contents of this
announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability
whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this
announcement.
This announcement is not for release, publication, distribution, directly or indirectly, in or into the United States
(including its territories and possessions, any state of the United States and the District of Columbia). This
announcement does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities
in the United States or in any other jurisdictions. The securities mentioned herein have not been, and will not be,
registered under the United States Securities Act of 1933 as amended from time to time (the “U.S. Securities Act ”) or
securities law of any state or other jurisdiction of the United States. The securities may not be offered, sold, pledged
or otherwise transferred within the United States except pursuant to an exemption from the registration requirements
of the U.S. Securities Act and in compliance with any applicable state securities laws. The securities are being offered
and sold outside the United States in offshore transactions in accordance with Regulation S under the U.S. Securities
Act. There will be no public offer of securities in the United States.
This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase
or subscribe for securities. This announcement is not a prospectus. Potential investors should read the prospectus
dated October 14, 2025 (the “Prospectus ”) issued by Fibocom Wireless Inc. (ʮ̡ ) (the
“Company ”) for detailed information about the Global Offering described below before deciding whether or not to
invest in the H Shares thereby being offered. Any investment decision in relation to the Offer Shares should be taken
solely in reliance on the information in the Prospectus. The Company has not been and will not be registered under the
U.S. Investment Company Act of 1940, as amended.
Unless otherwise defined in this announcement, capitalized terms used herein shall have the same meanings as those
defined in the Prospectus.
In connection with the Global Offering, CLSA Limited, as stabilization manager (the “Stabilization Manager ”) (or
its affiliates or any person acting for it), on behalf of the Underwriters, the extent permitted by the applicable laws and
regulatory requirements of Hong Kong or elsewhere, may over-allocate or effect transactions with a view to stabilizing
or supporting the market price of the H Shares at such price, in such amounts and in such manners as the Stabilization
Manager, its affiliates or any person acting for it may determine and at a level higher than that which might otherwise
prevail for a limited period after the Listing Date. However, there is no obligation on the Stabilizing Manager (or its
affiliates or any person acting for it) to conduct any such stabilizing action. Such stabilizing action, if taken, (a) will
be conducted at the absolute discretion of the Stabilization Manager (or its affiliates or any person acting for it) and in
what the Stabilization Manager reasonably regards as the best interest of our Company, (b) may be discontinued at any
time and (c) is required to be brought to an end within 30 days of the last day for lodging applications under the Hong
Kong Public Offering (which is Sunday, November 16, 2025). Such stabilizing action, if taken, may be effected in all
jurisdictions where it is permissible to do so, in each case in compliance with all applicable laws, rules and regulatory
requirements, including the Securities and Futures (Price Stabilizing) Rules (Chapter 571W of the Laws of Hong
Kong), as amended, made under the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).
Potential investors should be aware that no stabilizing action can be taken to support the price of the H Shares for
longer than the stabilization period, which will begin on the Listing Date, and is expected to expire on the 30th day
after the last day for lodging applications under the Hong Kong Public Offering (which is Sunday, November 16,
2025). After this date, when no further stabilizing action may be taken, demand for the H Shares, and therefore the
price of the H Shares, could fall.
Potential investors of the Offer Shares should note that the Sponsor-Overall Coordinator (for itself and on behalf
of the Hong Kong Underwriters) shall be entitled to terminate their obligations under the Hong Kong Underwriting
Agreement with immediate effect upon the occurrence of any of the events set out in the section headed “Underwriting
{ Underwriting Arrangements and Expenses {  Hong Kong Public Offering {  Grounds for Termination ” in the
Prospectus at any time prior to 8:00 a.m. (Hong Kong time) on the Listing Date (which is currently expected to be on
Wednesday, October 22, 2025).


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Fibocom Wireless Inc.
ʮ̡
(A joint stock company incorporated in the People ’s Republic of China with limited liability)
GLOBAL OFFERING
Number of Offer Shares under the Global
Offering
: 135,080,200 H Shares (subject to the
Over-allotment Option)
Number of Hong Kong Offer Shares : 13,508,200 H Shares
Number of International Offer Shares : 121,572,000 H Shares (subject to the
Over-allotment Option)
Final Offer Price : HK$21.50 per Offer Share, plus brokerage
of 1%, SFC transaction levy of 0.0027%,
Stock Exchange trading fee of 0.00565%
and AFRC transaction levy of 0.00015%
Nominal value : RMB1.00 per H Share
Stock code : 0638
Sole Sponsor, Sponsor-Overall Coordinator, Joint Global Coordinator,
Joint Bookrunner and Joint Lead Manager
Overall Coordinators, Joint Global Coordinators, Joint Bookrunners and
Joint Lead Managers
Joint Bookrunners and Joint Lead Managers


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FIBOCOM WIRELESS INC.
ʮ̡
ANNOUNCEMENT OF FINAL OFFER PRICE AND ALLOTMENT RESULTS
Unless otherwise defined herein, capitalised terms used in this announcement shall have the same
meanings as those defined in the prospectus dated October 14, 2025 (the “Prospectus ”) issued by
Fibocom Wireless Inc. (the “Company ”).
SUMMARY
Company information
Stock code 0638
Stock short name FIBOCOM
Dealings commencement date October 22, 2025 *
* see note at the end of the announcement
Price Information
Final Offer Price HK$21.50
Offer Price Range HK$19.88 – HK$21.50
Offer Shares and Share Capital
Number of Offer Shares (before exercise of the
Over-allotment Option)
135,080,200
Final Number of Offer Shares in Hong Kong
Public Offering
13,508,200
Final Number of Offer Shares in International
Offering (before exercise of the Over-allotment
Option)
121,572,000
Number of issued Shares upon Listing (before
exercise of the Over-allotment Option)
900,533,742
Over-allocation
No. of Offer Shares over-allocated 20,262,000
– International Offer 20,262,000
Such over-allocation may be covered by exercising the Over-allotment Option or by making
purchases in the secondary market at prices that do not exceed the Offer Price or through
deferred delivery or a combination of these means. In the event the Over-allotment Option is
exercised, an announcement will be made on the Stock Exchange ’s website.


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Proceeds
Gross proceeds (Note) HK$2,904.2 million
Less: Estimated listing expenses payable based on
Final Offer Price
HK$(93.6) million
Net proceeds HK$2,810.6 million
Note: Gross proceeds refers to the amount which the Company is entitled to receive. For details of the use of proceeds,
please refer to the section headed “Future Plans and Use of Proceeds ” of the Prospectus. The Company will
adjust the allocation of the net proceeds from the exercise of the Over-allotment Option (if any) for the purposes
as set out in the section headed “Future Plans and Use of Proceeds ” of the Prospectus on a pro rata basis.
ALLOTMENT RESULTS DETAILS
HONG KONG PUBLIC OFFERING
No. of valid applications 191,156
No. of successful applications 30,098
Subscription level 550.99 times
Claw-back triggered N/A
No. of Offer Shares initially available under the
Hong Kong Public Offering
13,508,200
Final no. of Offer Shares under the Hong Kong
Public Offering
13,508,200
% of Offer Shares under the Hong Kong Public
Offering to the Global Offering
10.00%
Note: For details of the final allocation of H Shares to the Public Offer, investors can refer to www.eipo.com.hk/eIPOAllotment
to perform a search by identification number or www.eipo.com.hk/eIPOAllotment  for the full list of allottees.


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INTERNATIONAL OFFERING
No. of placees 118
Subscription Level 9.16 times
No. of Offer Shares initially available under the
International Offering
121,572,000
Final no. of Offer Shares under the International
Offering
121,572,000
% of Offer Shares under the International
Offering to the Global Offering
90.00%
The Directors confirm that, to the best of their knowledge, information and belief, save for (a) a
waiver from strict compliance with Rule 10.04 of the Listing Rules and a consent under paragraph
1C(2) of Appendix F1 to the Listing Rules (the “Placing Guidelines ”) granted by the Stock
Exchange to permit the Company to allocate certain Offer Shares in the International Offering to
certain Existing Minority Shareholders and/or their close associates, (b) a consent under Chapter
4.15 of the Guide for New Listing Applicants to permit the Company to, among other things,
allocate further H Shares in the International Offering to an existing Shareholder and/or its close
associates and a Cornerstone Investor and/or its close associates, and (c) a consent under paragraph
1C(1) of the Placing Guidelines to permit the Company to allocate certain Offer Shares in the
International Offering to connected clients, (i) none of the Offer Shares subscribed by the placees
and the public have been financed directly or indirectly by the Company, any of the Directors,
Supervisors, chief executive of the Company, Controlling Shareholder, substantial Shareholders,
existing Shareholders of the Company or any of its subsidiaries or their respective close associates;
and (ii) none of the placees and the public who have purchased the Offer Shares are accustomed
to taking instructions from the Company, any of the Directors, Supervisors, chief executive of
the Company, Controlling Shareholder, substantial Shareholders, existing Shareholders of the
Company or any of its subsidiaries or their respective close associates in relation to the acquisition,
disposal, voting or other disposition of H Shares registered in his/her/its name or otherwise held by
him/her/it.


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The placees in the International Offering include the following:
Cornerstone Investors
Cornerstone Investors
No. of Offer
Shares
allocated Note 1
% of Offer
Shares Note 2
% of total
issued share
capital after
the Global
Offering Note 2, 4
Existing
shareholders
or their close
associates
Qindao Gantong 25,065,800 18.56% 2.78% No
Pacific Asset Management 5,791,800 4.29% 0.64% YesNote 3
CPIC (HK) 1,447,800 1.07% 0.16% YesNote 3
GF Fund Management 4,633,400 3.43% 0.51% YesNote 3
GF International 2,606,200 1.93% 0.29% YesNote 3
Ruihua Investment 4,658,800 3.45% 0.52% No
Genimous Investment 3,581,400 2.65% 0.40% No
Mr. Zhang Xiaolei 5,429,800 4.02% 0.60% No
GTINV 3,056,600 2.26% 0.34% No
Dream ’ee HK Fund 1,860,400 1.38% 0.21% No
Total 58,132,000 43.04% 6.46%
Notes:
(1) The number of Offer Shares allocated to such investors only represents the number of Offer Shares allocated
to the investors as cornerstone investors in the International Offering. For allocations of Offer Shares to
the relevant investors as placees (if any), please refer to the section headed “Allotment Results Details –
International Offering – Allotees with waiver/consents obtained ” in this announcement.
(2) Before any exercise of the Over-allotment Option.
(3) For details of a waiver from strict compliance with Rule 10.04 of the Listing Rules and a consent under
paragraph 1C(2) of the Placing Guidelines granted by the Stock Exchange to permit the Company to allocate
certain Offer Shares in the International Offering to certain Existing Minority Shareholders and/or their close
associates as cornerstone investor, please refer to the section headed “Others/Additional Information ” in this
announcement.
(4) Not taking into account any A Shares held by the relevant investors.


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Allotees with Waivers/Consents Obtained
Investor
No. of Offer
Shares allocated
% of Offer
Shares Note 1
% of total
issued share
capital after
the Global
Offering Note 1, 5 Relationship
Allotees with waiver from strict compliance with the requirements under Rule 10.04 of the Listing Rules and consent under
paragraph 1C(2) of the Placing Guidelines in relation to subscription for H Shares by Existing Minority Shareholders holding
more than 1% of the issued share capital of the Company immediately prior to the completion of the Global Offering and/or their
close associates Note 2
NilNote 5 Nil Nil Nil Nil
Allotees with consent under Chapter 4.15 of the Guide for New Listing Applicants in relation to allocations of further H Shares to
certain Cornerstone Investors and/or their close associates Note 2
CITIC Securities International
Capital Management Limited
(“CSI”)Note 3
6,443,400 4.77% 0.72% To subscribe and hold the Offer
Shares for a close associate of a
Cornerstone Investor Note 4
Pacific Asset Management 289,400 0.21% 0.03% A Cornerstone Investor Note 4
CPIC (HK) 108,400 0.08% 0.01% A Cornerstone Investor Note 4
GF Fund Management 1,614,000 1.19% 0.18% A Cornerstone Investor Note 4
GF International 5,625,600 4.16% 0.62% A Cornerstone Investor Note 4
Ruihua Investment 2,503,400 1.85% 0.28% A Cornerstone Investor Note 4
GTINV 4,615,400 3.42% 0.51% A Cornerstone Investor Note 4
Allotees with consent under paragraph 1C(1) of the Placing Guidelines and Chapter 4.15 of the Guide for New Listing Applicants
in relation to allocations to connected clients Note 2
CITIC Securities Asset
Management Company Limited
(“CITIC Asset Management ”)
58,400 0.04% 0.01% Connected client
Bosera Asset Management
(International) Co., Limited
(“Bosera ”)
1,085,800 0.80% 0.12% Connected client
CSI 10,524,800 7.79% 1.17% Connected client
Huatai Capital Investment
Limited ( “HTCI”)
976,600 0.72% 0.11% Connected client


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Notes:
(1) Before any exercise of the Over-allotment Option.
(2) For details of (a) a waiver from strict compliance with Rule 10.04 of the Listing Rules and a consent under
paragraph 1C(2) of the Placing Guidelines granted by the Stock Exchange to permit the Company to allocate
certain Offer Shares in the International Offering to Existing Minority Shareholders and their close associates as
cornerstone investor; (b) a consent under paragraph 18 of Chapter 4.15 of the Guide for New Listing Applicants
to permit the Company to allocate certain Offer Shares in the International Offering to certain Cornerstone
Investors and/or their close associates; and (c) a consent under paragraph 1C(1) of the Placing Guidelines to
permit the Company to allocate certain Offer Shares in the International Offering to connected clients, please
refer to the sub-section relating to section headed “Others/Additional Information ” in this announcement.
(3) The number of Offer Shares allocated to CSI listed in this subsection only represents the number of Offer
Shares allocated to CSI as a placee under the International Offering on behalf of its ultimate client Daqi
Investment Management (Shenzhen) Co., Ltd. ( ༺փҳ༟၍ଣ (ଉέ)ʮ̡ ), which is a close associate of the
cornerstone investor Qindao Gantong. For further details, please refer to “Allocations of Offer Shares to certain
Cornerstone Investors and/or their close associates with a consent under paragraph 18 of Chapter 4.15 of the
Guide ” in the section headed “Others/Additional Information ” in this announcement.
(4) The number of Offer Shares allocated to the relevant investors listed in this subsection only represents the
number of Offer Shares allocated to the investors as placees in the International Offering. For allocations of
Offer Shares to the relevant investors as Cornerstone Investors, please refer to the section headed “Allotment
Results Details – International Offering – Cornerstone Investors ” in this announcement.
(5) Among the Cornerstone Investors, Pacific Asset Management, CPIC (HK), GF Fund Management and GF
International are either Existing Minority Shareholders of the Company or their close associates. The Stock
Exchange has granted a waiver from strict compliance with the requirements under Rule 10.04 of the Listing
Rules and consent under Paragraph 1C(2) of the Placing Guidelines to permit H Shares in the International
Offering to be placed to certain Existing Minority Shareholders and/or their close associates. Please refer to the
section headed “Waivers from Strict Compliance with the Listing Rules – Allocation of H Shares to Existing
Minority Shareholders and Their Close Associates ” of the Prospectus for details.


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LOCK-UP UNDERTAKINGS
Controlling Shareholder
Name
Number of
Shares held
in the
Company
subject to
lock-up
undertakings
upon Listing
Number of
H Shares
held in
the Company
subject to
lock-up
undertakings
upon Listing
% of total
issued H
Shares after
the Global
Offering
subject to
lock-up
undertakings
upon
Listing Note 1
% of
shareholding
 in the
Company
subject to
 lock-up
undertakings
upon
Listing Note 1
Last day subject to the
lock-up undertakings Note 2
Mr. Zhang
 Tianyu
281,512,495 0 0.00% 31.26% April 21, 2026 (First Sixth-Month
Period)Note 3
October 21, 2026 (Second Sixth-
Month Period) Note 4
Notes:
(1) Before any exercise of the Over-allotment Option.
(2) In accordance with the relevant Listing Rule/guidance materials, the required lock-up for the first six-month
period ends on April 21, 2026 and for the second six-month period ends on October 21, 2026.
(3) The Controlling Shareholder may dispose of or transfer Shares after the indicated date subject to that the
Controlling Shareholder will not cease to be a Controlling Shareholder.
(4) The Controlling Shareholder will cease to be prohibited from disposing of or transferring Shares after the
indicated date.
Cornerstone Investors
Name
Number of
Shares held in
the Company
subject to
lock-up
undertakings
upon Listing
Number of H
Shares held in
the Company
subject to lock-
up undertakings
upon Listing
% of total issued
H Shares
after the
Global Offering
subject to
lock-up
undertakings
upon Listing Note 1
% of
shareholding
in Company
subject to lock-
up undertakings
upon Listing Note 1
Last day subject
to the lock-up
undertakings Note 2
Qindao Gantong 25,065,800 25,065,800 18.56% 2.78% April 21, 2026
Pacific Asset Management 5,791,800 5,791,800 4.29% 0.64% April 21, 2026
CPIC (HK) 1,447,800 1,447,800 1.07% 0.16% April 21, 2026
GF Fund Management 4,633,400 4,633,400 3.43% 0.51% April 21, 2026
GF International 2,606,200 2,606,200 1.93% 0.29% April 21, 2026
Ruihua Investment 4,658,800 4,658,800 3.45% 0.52% April 21, 2026


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Name
Number of
Shares held in
the Company
subject to
lock-up
undertakings
upon Listing
Number of H
Shares held in
the Company
subject to lock-
up undertakings
upon Listing
% of total issued
H Shares
after the
Global Offering
subject to
lock-up
undertakings
upon Listing Note 1
% of
shareholding
in Company
subject to lock-
up undertakings
upon Listing Note 1
Last day subject
to the lock-up
undertakings Note 2
Genimous Investment 3,581,400 3,581,400 2.65% 0.40% April 21, 2026
Mr. Zhang Xiaolei 5,429,800 5,429,800 4.02% 0.60% April 21, 2026
GTINV 3,056,600 3,056,600 2.26% 0.34% April 21, 2026
Dream ’ee HK Fund 1,860,400 1,860,400 1.38% 0.21% April 21, 2026
Sub-total 58,132,000 58,132,000 43.04% 6.46%
Notes:
(1) Before any exercise of the Over-allotment Option.
(2) In accordance with the relevant cornerstone investment agreements, the required lock-up ends on April 21, 2026.
The Cornerstone Investors will cease to be prohibited from disposing of or transferring H Shares subscribed for
pursuant to the relevant cornerstone investment agreements after the indicated date.
(3) For further details of the Cornerstone Investors, please refer to the section headed “Cornerstone Investors ” in
the Prospectus.
PLACEE CONCENTRATION ANALYSIS
Placees*
Number of
H Shares
allotted
Allotment as
% of
International
Offering
(assuming no
exercise of
the Over-
allotment
Option)
Allotment as
% of
International
Offering
(assuming
the Over-
allotment
Option is
exercised and
new H Shares
are issued)
Allotment as
% of total
Offer Shares
(assuming no
exercise of
the Over-
allotment
Option)
Allotment as
% of total
Offer Shares
(assuming
the Over-
allotment
Option is
exercised and
new H Shares
are issued)
Number of
Shares held
upon Listing
% of total
issued share
capital upon
Listing
(assuming no
exercise of
the Over-
allotment
Option)
% of total
issued share
capital upon
Listing
(assuming the
Over-
allotment
Option is
exercised and
new H Shares
are issued)
Top 1 31,509,200 25.92% 22.22% 23.33% 20.28% 31,509,200 3.50% 3.42%
Top 5 66,672,600 54.84% 47.01% 49.36% 42.92% 72,385,346 8.04% 7.86%
Top 10 90,367,600 74.33% 63.71% 66.90% 58.17% 97,618,615 10.84% 10.60%
Top 25 120,883,800 99.43% 85.23% 89.49% 77.82% 128,365,615 14.25% 13.94%
Notes
* Ranking of placees is based on the number of H Shares allotted to the placees.


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H SHAREHOLDER CONCENTRATION ANALYSIS
H Shareholders*
Number of
H Shares
allotted
Allotment
as % of
International
Offering
(assuming
no exercise
of the Over-
allotment
Option)
Allotment
as % of
International
Offering
(assuming
the Over-
allotment
Option is
exercised
and new
H Shares
are issued)
Allotment as
% of total
Offer Shares
(assuming no
exercise of
the Over-
allotment
Option)
Allotment
as % of total
Offer Shares
(assuming
the Over-
allotment
Option is
exercised
and new
H Shares
are issued)
Number of
H Shares
held upon
Listing
% of total
issued
H Shares
capital upon
Listing
(assuming
no exercise
of the Over-
allotment
Option)
% of total
issued
H Shares
capital upon
Listing
(assuming
the Over-
allotment
Option is
exercised and
new H Shares
are issued)
Number of
Shares held
upon Listing
Top 1 31,509,200 25.92% 22.22% 23.33% 20.28% 31,509,200 23.33% 20.28% 31,509,200
Top 5 66,672,600 54.84% 47.01% 49.36% 42.92% 66,672,600 49.36% 42.92% 72,385,346
Top 10 90,367,600 74.33% 63.71% 66.90% 58.17% 90,367,600 66.90% 58.17% 97,618,615
Top 25 120,883,800 99.43% 85.23% 89.49% 77.82% 120,883,800 89.49% 77.82% 128,365,615
Notes
* Ranking of H Shareholders is based on the number of H Shares held by the H Shareholders upon Listing.
SHAREHOLDER CONCENTRATION ANALYSIS
Shareholders*
Number of
H Shares
allotted
Allotment as
% of
International
Offering
(assuming no
exercise of
the Over-
allotment
Option)
Allotment as
% of
International
Offering
(assuming
the Over-
allotment
Option is
exercised and
new H Shares
are issued)
Allotment as
% of total
Offer Shares
(assuming no
exercise of
the Over-
allotment
Option)
Allotment as
% of total
Offer Shares
(assuming
the Over-
allotment
Option is
exercised and
new H Shares
are issued)
Number of
H Shares
held upon
Listing
Number of
Shares held
upon Listing
% of total
issued share
capital upon
Listing
(assuming no
exercise of
the Over-
allotment
Option)
% of total
issued share
capital upon
Listing
(assuming the
Over-
allotment
Option is
exercised and
new H Shares
are issued)
Top 1 0 0.00% 0.00% 0.00% 0.00% 0 284,140,455 31.55% 30.86%
Top 5 45,988,400 37.83% 32.42% 34.05% 29.60% 45,988,400 390,772,400 43.39% 42.44%
Top 10 72,319,400 59.49% 50.99% 53.54% 46.55% 72,319,400 426,116,673 47.32% 46.28%
Top 25 102,274,800 84.13% 72.11% 75.71% 65.84% 102,274,800 484,172,465 53.77% 52.58%
Note
* Ranking of Shareholders is based on the number of Shares (of all classes) held by the Shareholder upon Listing.


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BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
Subject to the satisfaction of the conditions set out in the Prospectus, valid applications made by
the public will be conditionally allocated on the basis set out below:
NO. OF SHARES
APPLIED FOR
NO. OF VALID
APPLICATIONS BASIS OF ALLOTMENT/BALLOT
APPROXIMATE
PERCENTAGE
 ALLOTTED
OF THE TOTAL NO.
 OF SHARES
 APPLIED FOR
POOL A
200 60,023 189 out of 60,023 to receive 200 Shares 0.31%
400 30,231 188 out of 30,231 to receive 200 Shares 0.31%
600 7,952 74 out of 7,952 to receive 200 Shares 0.31%
800 4,337 54 out of 4,337 to receive 200 Shares 0.31%
1,000 6,160 96 out of 6,160 to receive 200 Shares 0.31%
1,200 2,468 46 out of 2,468 to receive 200 Shares 0.31%
1,400 1,848 40 out of 1,848 to receive 200 Shares 0.31%
1,600 1,490 37 out of 1,490 to receive 200 Shares 0.31%
1,800 1,409 39 out of 1,409 to receive 200 Shares 0.31%
2,000 16,222 505 out of 16,222 to receive 200 Shares 0.31%
3,000 3,918 183 out of 3,918 to receive 200 Shares 0.31%
4,000 4,626 288 out of 4,626 to receive 200 Shares 0.31%
5,000 3,683 287 out of 3,683 to receive 200 Shares 0.31%
6,000 2,550 238 out of 2,550 to receive 200 Shares 0.31%
7,000 1,918 209 out of 1,918 to receive 200 Shares 0.31%
8,000 1,521 189 out of 1,521 to receive 200 Shares 0.31%
9,000 1,281 180 out of 1,281 to receive 200 Shares 0.31%
10,000 5,598 872 out of 5,598 to receive 200 Shares 0.31%
15,000 2,663 622 out of 2,663 to receive 200 Shares 0.31%
20,000 2,781 866 out of 2,781 to receive 200 Shares 0.31%
25,000 1,675 652 out of 1,675 to receive 200 Shares 0.31%
30,000 1,471 687 out of 1,471 to receive 200 Shares 0.31%
35,000 991 540 out of 991 to receive 200 Shares 0.31%
40,000 1,406 876 out of 1,406 to receive 200 Shares 0.31%
45,000 978 685 out of 978 to receive 200 Shares 0.31%
50,000 1,813 1,411 out of 1,813 to receive 200 Shares 0.31%
60,000 1,482 1,384 out of 1,482 to receive 200 Shares 0.31%
70,000 1,260 200 Shares plus 113 out of 1,260 to receive
additional 200 Shares
0.31%
80,000 1,225 200 Shares plus 301 out of 1,225 to receive
additional 200 Shares
0.31%
90,000 978 200 Shares plus 392 out of 978 to receive
additional 200 Shares
0.31%


--- page 13 ---
13
NO. OF SHARES
APPLIED FOR
NO. OF VALID
APPLICATIONS BASIS OF ALLOTMENT/BALLOT
APPROXIMATE
PERCENTAGE
 ALLOTTED
OF THE TOTAL NO.
 OF SHARES
 APPLIED FOR
100,000 5,238 200 Shares plus 2,918 out of 5,238 to receive
additional 200 Shares
0.31%
200,000 3,182 600 Shares plus 363 out of 3,182 to receive
additional 200 Shares
0.31%
184,378 Total number of Pool A successful applicants:
23,320
POOL B
300,000 2,911 200 Shares plus 2,681 out of 2,911 to receive
additional 200 Shares
0.13%
400,000 957 400 Shares plus 537 out of 957 to receive
additional 200 Shares
0.13%
500,000 666 600 Shares plus 134 out of 666 to receive
additional 200 Shares
0.13%
600,000 430 600 Shares plus 362 out of 430 to receive
additional 200 Shares
0.13%
700,000 245 800 Shares plus 118 out of 245 to receive
additional 200 Shares
0.13%
800,000 219 1,000 Shares plus 27 out of 219 to receive
additional 200 Shares
0.13%
900,000 149 1,000 Shares plus 114 out of 149 to receive
additional 200 Shares
0.13%
1,000,000 620 1,200 Shares plus 250 out of 620 to receive
additional 200 Shares
0.13%
2,000,000 236 2,400 Shares plus 190 out of 236 to receive
additional 200 Shares
0.13%
3,000,000 74 3,800 Shares plus 16 out of 74 to receive
additional 200 Shares
0.13%
4,000,000 37 5,000 Shares plus 23 out of 37 to receive
additional 200 Shares
0.13%
5,000,000 55 6,400 Shares plus 1 out of 55 to receive
additional 200 Shares
0.13%
6,754,000 179 8,600 Shares plus 44 out of 179 to receive
additional 200 Shares
0.13%
6,778 Total number of Pool B successful applicants:
6,778
As of the date of this announcement, the relevant subscription monies previously deposited in the
designated nominee accounts have been remitted back to the accounts of all HKSCC participants.
Investors should contact their relevant brokers for any inquiries.


--- page 14 ---
14
COMPLIANCE WITH LISTING RULES AND GUIDANCE
The Directors confirm that, except for the Listing Rules that have been waived and/or in respect of
which consent has been obtained, the Company has complied with the Listing Rules and guidance
materials in relation to the placing, allotment and listing of the Company ’s H Shares.
The Directors confirm that, to the best of their knowledge, no rebate has been, directly or
indirectly, provided by the Company, its Controlling Shareholder, Directors or syndicate members
to any placees or the public (as the case may be) and the consideration payable by them for each
Share of the Company subscribed for or purchased by them is the same as the final Offer Price
determined by agreement between the Company and the Sponsor-Overall Coordinator (for itself
and on behalf of other Overall Coordinators and the Underwriters), in addition to any brokerage,
AFRC transaction levy, SFC transaction levy and trading fee payable.
OTHERS/ADDITIONAL INFORMATION
Allocation of H Shares to Existing Minority Shareholders and their close associates with a
waiver from the strict compliance with Rule 10.04 of the Listing Rules and a prior consent
under paragraph 1C(2) of the Placing Guidelines
As disclosed in the Prospectus, the Company has applied to the Stock Exchange, and the Stock
Exchange has granted, a waiver from the strict compliance with Rule 10.04 of the Listing Rules
and a consent under paragraph 1C(2) of the Placing Guidelines to permit the Company to allocate
such Offer Shares certain Existing Minority Shareholders and their close associates on the
following conditions:
(i) each Existing Minority Shareholder to whom our Company may allocate the H Shares in
the International Offering holds less than 5% of our Company ’s voting rights prior to the
completion of the Global Offering;
(ii) each Existing Minority Shareholder is not, and will not be, a core connected person of our
Company or any close associate of any such core connected person immediately prior to or
following the Global Offering;
(iii) none of the Existing Minority Shareholders has the right to appoint any Directors and/or any
other special rights;
(iv) allocation to the Existing Minority Shareholders and/or their close associates will not affect
our Company ’s ability to satisfy the public float requirement as prescribed under Rule 8.08
(as amended and replaced by Rule 19A.13A(2)) of the Listing Rules;
(v) each of our Company, the Sole Sponsor and the Overall Coordinators shall confirm to the
Stock Exchange in writing that, to the best of its knowledge and belief, it has no reason
to believe that the Existing Minority Shareholders or their close associates received any
preferential treatment in any allocation in the International Offering by virtue of their
relationship with our Company; and


--- page 15 ---
15
(vi) details of the allocation to the Existing Minority Shareholders holding more than 1% of
the issued share capital of our Company immediately prior to the completion of the Global
Offering will be disclosed in the Prospectus and/or this announcement, as the case may be.
Nonetheless, as no allocation has been made to any such Existing Minority Shareholders
holding more than 1% of the issued share capital of the Company, no disclosure has been
made in this announcement.
Please refer to the section headed “Waivers from Strict Compliance with the Listing Rules –
Allocation of H Shares to Existing Minority Shareholders and Their Close Associates ” in the
Prospectus for further details of the waiver and consent. The allocation of Offer Shares to such
Existing Minority Shareholders is in compliance with all the conditions under the waiver/consent
granted by the Stock Exchange.
Allocations of Offer Shares to certain Cornerstone Investors and/or their close associates with
a consent under paragraph 18 of Chapter 4.15 of the Guide
The Company has applied to, and the Stock Exchange has granted, a consent under Chapter 4.15
of the Guide for New Listing Applicants to permit the Company to allocate further Offer Shares in
the International Offering to certain Cornerstone Investors and/or their close associates as placees,
subject to the following conditions (the “Size-based Exemption ”):
(a) the final offering size of the Global Offering, excluding any over-allocation, will be of a total
value of at least HK$1 billion;
(b) the Offer Shares allocated to all existing Shareholders and their close associates as permitted
under the Size-based Exemption (as defined in the Guide) do not exceed 30% of the total
number of the Shares offered under the Global Offering;
(c) each Director, chief executive, Controlling Shareholder and Supervisors of the Company
confirms that no Offer Shares have been allocated to them or their respective close associates
under the Size-based Exemption;
(d) the allocation to certain Cornerstone Investors and/or their close associates will not affect the
Company ’s ability to satisfy the public float requirement under Rule 8.08 (as amended and
replaced by Rule 19A.13A(2)) of the Listing Rules; and
(e) details of the allocation to the Cornerstone Investors and/or their close associates under the
Size-based Exemption will be disclosed in this announcement.
Such allocations of Offer Shares are in compliance with all the conditions under the consent
granted by the Stock Exchange.
For details of the allocations of Offer Shares to existing Shareholders and/or their close associates
and Cornerstone Investors, please refer to the section headed “Allotment Results Details –
International Offering – Allotees with Waivers/Consents Obtained ” in this announcement.


--- page 16 ---
16
Placing to connected clients with a prior consent under paragraph 1C(1) of the Placing
Guidelines
Under the International Offering, certain Offer Shares were placed to connected clients of their
connected distributors pursuant to the Placing Guidelines.
The Company has applied to the Stock Exchange for, and the Stock Exchange has granted, a
consent under paragraph 1C(1) of the Placing Guidelines to permit the Company to allocate such
Offer Shares in the International Offering to the connected clients. The allocation of Offer Shares
to such connected clients is in compliance with all the conditions under the consent granted by the
Stock Exchange. Details of the placement to connected clients are set out below:
No.
Connected
Distributor
Connected
Client Relationship
Identities of
the ultimate
beneficial
owners of the
Offer Shares
or, where
applicable,
details of the
structured
products under
which the
subscription
by the
Connected
Client
was made
(e.g. OTC total
return swaps)
Whether the
Connected Client
is a collective
investment
scheme
which is not
authorised by
the SFC or is
expected to hold
the Offer Shares
on behalf of
such scheme
Maximum
amount of Offer
Shares to be
allocated to
the Connected
ClientNote 1
Approximate
percentage of
total number
of Offer
Shares under
the Global
OfferingNote 1
Approximate
percentage
of total
 issued share
capital after
the Global
OfferingNote 1
Part A – Connected Clients holding the beneficial interest of the Offer Shares on a non-discretionary  basis on behalf of independent third parties
1. CLSA
Limited
(“CLSA”)
CITIC
Securities
International
Capital
Management
Limited ( “CSI”)
CSI is a member
of the same
group of CLSA.
Please refer to
Note (2) below.
No 10,524,800 7.8% 1.2%
2. Huatai Financial
Holdings (Hong
Kong) Limited
(“HTFH”)
Huatai Capital
Investment
Limited
(“HTCI”)
HTCI is a
member of the
same group of
companies as
HTFH.
Please refer to
Note (3) below.
No 976,600 0.7% 0.1%


--- page 17 ---
17
No.
Connected
Distributor Connected Client Relationship
Whether the
Connected Client
is a collective
investment scheme
which is not
authorised by the
SFC or is expected
to hold the Offer
Shares on behalf
of such scheme
Maximum amount
of Offer Shares
to be allocated
 to the Connected
ClientNote 1
Approximate
percentage
of total number
of Offer Shares
under the Global
OfferingNote 1
Approximate
percentage
of total issued
share capital
after the Global
OfferingNote 1
Part B – Connected Clients holding the beneficial interest of the Offer Shares on a discretionary  basis on behalf of independent third parties
1. CLSA Limited CITIC Securities
Asset Management
Company Limited
(“CITIC Asset
Management ”)Note 4
CITIC Asset
Management is a
member of the same
group of companies
as CLSA.
No 58,400 0.04% 0.01%
2. CMB
 International
 Capital
 Limited
Bosera Asset
Management
(International)
Co., Limited
(“Bosera ”)Note 5
Bosera is a member
of the same group of
companies as CMBI
Capital.
No 1,085,800 0.8% 0.1%
Notes:
(1) Before any exercise of the Over-allotment Option.
(2) CSI proposes to subscribe for and hold the Offer Shares as a placee under the International Offering on behalf
of its ultimate clients ( “CSI Ultimate Clients ”), on a non-discretionary basis , pursuant to which:
(i) CSI will act as the single counterparty of a back-to-back total return swap transaction (the “CSI
Back-to-back TRS ”) to be entered into by it in connection with a total return swap order (the “CSI
Client TRS ”) placed and fully funded by the CSI Ultimate Clients, by which CSI will pass the full
economic exposure of the Offer Shares placed to CSI to the CSI Ultimate Clients.
(ii) As confirmed by CSI and CLSA, CSI will hold the legal title and beneficial interest in the Offer Shares,
but will contractually agree to pass on the full economic exposure and return of the Offer Shares to the
CSI Ultimate Clients, on a non-discretionary basis. The CSI Ultimate Clients may exercise their early
termination rights to terminate the CSI Client TRS at any time from the trade date of the CSI Client TRS
which should be on or after the date on which the Offer Shares are listed on the Stock Exchange.
(iii) Upon the final maturity or termination of the CSI Client TRS by the CSI Ultimate Clients, CSI will
dispose of the Offer Shares on the secondary market and the CSI Ultimate Clients will receive a final
termination amount of the CSI Back-to-back TRS which will have taken into account all the economic
returns or economic loss in relation to the Offer Shares and the fixed amount of transaction fees of the
CSI Back-to-back TRS and the CSI Client TRS. Due to its internal policy, CSI will not exercise the
voting right of the Offer Shares during the terms of the CSI Back-to-back TRS.
(iv) CSI is not a collective investment schemes which is not authorized by the SFC, nor is expected to hold
the Offer Shares on behalf of such scheme.
(v) To the best knowledge of CSI after making all reasonable enquiries, each of the investment managers
and their ultimate beneficial owner is independent from each of the Company, its subsidiaries, substantial
shareholders, CSI, CLSA and the companies which are members of the same group of CLSA.


--- page 18 ---
18
(3) PRC investors are currently not permitted under applicable PRC laws to participate directly in initial public
offerings ( “IPOs”) in Hong Kong. However, PRC investors are permitted to invest in products issued by
appropriate domestic securities firms licensed to undertake cross-border derivatives trading activities. In
connection with such products, the licensed domestic securities firms, through their Hong Kong affiliates, may
participate in Hong Kong IPOs either as placees or cornerstone investors (the “Cross-border Derivatives
Trading Regime ”). Huatai Securities Co., Ltd. ( “Huatai Securities ”), the shares of which are listed on both
the Shanghai Stock Exchange (stock code: 601688) and the Stock Exchange (stock code: 6886), is one of the
domestic securities firms licensed to undertake cross-border derivatives trading activities. Huatai Securities
entered into an ISDA agreement (the “ISDA Agreement ”) with its indirectly wholly-owned subsidiary, HTCI,
to set out the principal terms of any future total return swap between Huatai Securities and HTCI.
HTFH is a non-syndicate sub-broker in connection with the Global Offering. Pursuant to the ISDA Agreement,
HTCI, which intends to participate in the Global Offering as a placee, will hold the beneficial interest of Offer
Shares on a non-discretionary basis as the single underlying holder under a back-to-back total return swap (the
“Back-to-back TRS ”) to be entered by HTCI in connection with a Client TRS (as defined below) placed by
and fully funded (i.e. with no financing provided by HTCI) by the Huatai Ultimate Clients (as defined below),
by which, HTCI will, subject to customary fees and commissions, pass the full economic exposure of the Offer
Shares ultimately to the Huatai Ultimate Clients, which in effect, HTCI will hold the beneficial interest of the
Offer Shares on behalf of the Huatai Ultimate Clients. HTFH, being a non-syndicate sub-broker in connection
with the Global Offering, and HTCI are indirectly wholly-owned subsidiaries of Huatai Securities. Accordingly,
HTCI is considered as a “connected client ” of HTFH pursuant to paragraph 13(7) of the Placing Guidelines.
Pursuant to the Cross-border Derivatives Trading Regime, the onshore investors (the “Huatai Ultimate
Clients ”) cannot directly subscribe for the Offer Shares but may invest in derivative products issued by
domestic securities firms licenced to undertake cross-border derivatives trading activities, such as Huatai
Securities, with the Offer Shares as the underlying assets. Instead of directly subscribing for the Offer Shares,
the Huatai Ultimate Clients will, through their investment managers, place a total return swap order (the “Client
TRS”) with Huatai Securities in connection with the Company ’s Global Offering and Huatai Securities will
place a Back-to-back TRS order to HTCI on the terms of the ISDA Agreement. In order to hedge its exposure
under the Back-to-back TRS, HTCI participates in the Company ’s Global Offering and subscribes the Offer
Shares through placing order with HTFH during the International Offering.
To the best of knowledge of HTCI and after making all reasonable enquiries, each of the Huatai Ultimate
Clients is an independent third party of the Company , its subsidiaries, its substantial shareholders, HTFH and
the companies which are members of the same group of HTFH.
The purpose of HTCI to subscribe for the Offer Shares is for hedging the Back-to-back TRS in connection
with the Client TRS order placed by the Huatai Ultimate Clients. Pursuant to the terms of the contracts of the
Back-to-back TRS and the Client TRS, during the tenor of the Back-to-back TRS and the Client TRS, subject
to customary fees and commissions, all economic returns of the Offer Shares will be ultimately passed to the
Huatai Ultimate Clients through the Back-to-back TRS and the Client TRS and all economic loss shall be
ultimately borne by the Huatai Ultimate Clients. HTCI will not take any economic return or bear any economic
loss in relation to the Offer Shares.
Investment in the Back-to-back TRS and the Client TRS is similar to the investment in a qualified domestic
institutional investor ( “QDII”) fund in the way that the Huatai Ultimate Clients would reap all the economic
benefits of the underlying Offer Shares, except that a QDII fund would pass through the exchange rate exposure
on both the notional value of the investment and the profit and loss of the investment. In contrast, the profit and
loss of the Back-to-back TRS and the Client TRS factor into account the fluctuation in RMB exchange rate upon
termination of the Client TRS by converting the profit and loss using the current exchange rate at the time of
termination. As such, the Huatai Ultimate Clients would bear the exchange rate exposure of the profit and loss
on settlement date.


--- page 19 ---
19
The Huatai Ultimate Clients may exercise an early termination right to terminate the Client TRS at any time
from the issue date of the Client TRS which should be on or after the date on which the Offer Shares are listed
on the Stock Exchange at their own discretion. Upon the termination upon maturity or early termination of the
Client TRS by the Huatai Ultimate Clients, HTCI will dispose the Offer Shares on the secondary market and
the Huatai Ultimate Clients will receive a final settlement amount in cash in accordance with the terms and
conditions of the Back-to-back TRS and the Client TRS which should have taken into account all the economic
returns or economic loss in relation to the Offer Shares. If upon the maturity of the Client TRS, the Huatai
Ultimate Clients intend to extend the investment period, subject to further agreement between Huatai Securities
and the relevant Huatai Ultimate Clients, the term of the Client TRS could be extended by way of a new
issuance or a tenor extension. Accordingly, Huatai Securities will extend the term of the Back-to-back TRS by
way of a new issuance or a tenor extension.
It is proposed that HTCI will hold the legal title and the voting right of the Offer Shares by itself, and pass
through the economic exposure to the Huatai Ultimate Clients, each being an onshore client who places a
Client TRS order with Huatai Securities in connection with the Global Offering of the Company. HTCI will not
exercise the voting right of the Offer Shares during the tenor of the Back-to-back TRS.
During the life of the Client TRS and Back-to-back TRS, HTCI may continue to hold the Offer Shares in its
custodian account, or to hold some or all of the Offer Shares in a prime brokerage account for stock borrowing
purposes, where HTCI will lend out its holding of underlying Offer Shares in the form of stock borrowing loans
consistent with market practice to lower its finance costs, provided that HTCI has the ability to call back the
Offer Shares on loan at any time in order to satisfy its obligations under the Back-to-back TRS to ensure the
economic interests are ultimately passed to the Huatai Ultimate Clients.
(4) CITIC Asset Management will hold the Offer Shares in its capacity as the discretionary fund manager managing
the funds on behalf of its investors, each of which is, to the best knowledge of CITIC Asset Management, an
independent third party of the Company, its subsidiaries, its substantial shareholders, CITIC Asset Management,
CLSA and the companies which are members of the same group of CLSA.
(5) Bosera will hold the Offer Shares in its capacity as the discretionary fund manager managing the funds on
behalf of its underlying clients. To the best of Bosera ’s knowledge after due enquiry, each of the underlying
clients of Bosera is an independent third party of Bosera, CMBI and the companies which are members of the
same group of CMBI.
DISCLAIMERS
Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited and
Hong Kong Securities Clearing Company Limited take no responsibility for the contents of this
announcement, make no representation as to its accuracy or completeness and expressly disclaim
any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or
any part of the contents of this announcement.
This announcement is not for release, publication, distribution, directly or indirectly, in or into
the United States (including its territories and possessions, any state of the United States and
the District of Columbia). This announcement does not constitute or form a part of any offer or
solicitation to purchase or subscribe for securities in the United States. The securities mentioned
herein have not been, and will not be, registered under the United States Securities Act of 1933,
as amended (the “U.S. Securities Act ”). The securities may not be offered or sold in the United
States except pursuant to an exemption from the registration requirements of the U.S. Securities
Act and in compliance with any applicable state securities laws, or outside the United States
unless in compliance with Regulation S under the U.S. Securities Act. There will be no public
offer of securities in the United States.
The Offer Shares are being offered and sold outside the United States in offshore transactions in
reliance on Regulation S under the U.S. Securities Act.


--- page 20 ---
20
This announcement is for information purposes only and does not constitute an invitation or offer
to acquire, purchase or subscribe for securities. This announcement is not a prospectus. Potential
investors should read the Prospectus dated October 14, 2025 issued by Fibocom Wireless Inc. for
detailed information about the Global Offering described below before deciding whether or not
to invest in the H Shares thereby being offered.
* Potential investors of the Offer Shares should note that the Sole Sponsor and the Sponsor-
Overall Coordinator (for itself and on behalf of the Hong Kong Underwriters) shall be entitled
to terminate its obligations under the Hong Kong Underwriting Agreement with immediate
effect upon the occurrence of any of the events set out in the section headed “Underwriting –
Underwriting Arrangements and Expenses – Hong Kong Public Offering – Grounds for
Termination ” in the Prospectus at any time prior to 8:00 a.m. (Hong Kong time) on the Listing
Date (which is currently expected to be on Wednesday, October 22, 2025).
PUBLIC FLOAT AND FREE FLOAT
Immediately following the completion of the Global Offering (before any exercise of the
Over-allotment Option), the total number of the H Shares held by the public represents
approximately 15.04% of the total issued share capital of the Company (excluding the 2,627,960
A Shares held by the Company as treasury Shares), which is higher than the prescribed percentage
of H Shares required to be held in public hands of 10% under Rule 19A.13A(2)(a) of the Listing
Rules calculated based on the final Offer Price of HK$21.50 per H Share, thereby satisfying Rule
8.08 (as amended and replaced by Rule 19A.13A(2)) of the Listing Rules.
Each of the Cornerstone Investors has agreed to a lock-up period of six months following the
Listing Date. As such, H Shares held by the Cornerstone Investors upon the Listing shall not be
counted towards the free float of the H Shares of the Company at the time of Listing. Based on the
final Offer Price of HK$21.50 per H Share, the Company satisfies the free float requirement under
Rule 8.08A (as amended and replaced by Rule 19A.13C) of the Listing Rules.
The Directors confirm that, immediately following the completion of the Global Offering (before
any exercise of the Over-allotment Option), (i) no placee will, individually, be placed more than
10% of the enlarged issued share capital of the Company immediately after the Global Offering;
(ii) there will not be any new substantial Shareholder immediately after the Global Offering; (iii)
the three largest public shareholders of the Company do not hold more than 50% of the H shares
in public hands at the time of the Listing in compliance with Rules 8.08(3) and 8.24 of the Listing
Rules; and (iv) there will be at least 300 Shareholders at the time of the Listing in compliance with
Rule 8.08(2) of the Listing Rules.
COMMENCEMENT OF DEALINGS
The H Share certificates will only become valid evidence of title at 8:00 a.m. on Wednesday,
October 22, 2025 (Hong Kong time), provided that the Global Offering has become unconditional
and the right of termination described in the section headed “Underwriting – Underwriting
Arrangements and Expenses – Hong Kong Public Offering – Grounds for Termination ” in the
Prospectus has not been exercised. Investors who trade the H Shares on the basis of publicly
available allocation details prior to the receipt of H Share certificates or prior to the H Share
certificates becoming valid evidence of title do so entirely at their own risk.


--- page 21 ---
21
Assuming that the Global Offering becomes unconditional at or before 8:00 a.m. on Wednesday,
October 22, 2025 (Hong Kong time), it is expected that dealings in the H Shares on the Stock
Exchange will commence at 9:00 a.m. on Wednesday, October 22, 2025 (Hong Kong time). The H
Shares will be traded in board lots of 200 H Shares each, and the stock code of the H Shares will
be 0638.
By order of the Board
Fibocom Wireless Inc.
Zhang Tianyu
Chairman of the Board
Hong Kong, October 21, 2025
As of the date of this announcement, the Board comprises Mr. Zhang Tianyu, Mr. Ying Lingpeng
and Mr. Xu Ning as executive directors, Mr. Wang Ning and Ms. Zhao Jing as independent
non-executive directors, and Mr. Wu Chenggang as proposed independent non-executive director.