Hubei Guangdian Network: Major Shareholder China Telecom Cultural Industries (CITIC Guoan) Plans to Reduce Holdings of No More Than 1% of Shares

On March 12, Hubei Broadcasting & Television (000665.SZ) announced that it disclosed a share reduction plan by CITIC Guoan Information Industry Co., Ltd. (hereinafter referred to as “CITIC Guoan”), a shareholder holding more than 5%.

The announcement shows that as of the disclosure date, CITIC Guoan held 64,907,505 shares of Hubei Broadcasting & Television, accounting for 5.71% of the company’s total share capital, all of which are freely tradable shares. CITIC Guoan plans to reduce its holdings by no more than 11,371,400 shares, or 1% of the total share capital, through centralized bidding within three months after 15 trading days from the date of this announcement (from April 7, 2026, to July 6, 2026).

CITIC Guoan stated that this reduction is based on its own operational development needs, aiming to optimize existing assets, recover funds, and promote the company’s sustainable growth.

The share reduction price will be determined based on the secondary market price and trading method, in compliance with relevant laws, regulations, and commitments. The shares held by CITIC Guoan originate from the company’s restructuring, listing, and profit distribution capital reserve conversion.

It is noteworthy that CITIC Guoan’s holdings of Hubei Broadcasting & Television shares are currently pledged, but there are no other rights restrictions or major disputes. Hubei Broadcasting & Television emphasized that CITIC Guoan is not the company’s controlling shareholder or actual controller. This reduction will not lead to a change in control or affect the company’s governance structure and ongoing operations.

Public information shows that the company was approved by the Hubei Provincial Committee and Provincial Government in January 2011 to be established as a large state-owned cultural high-tech enterprise. It serves as a platform for the dissemination of party and government policies, as well as the main entity for provincial broadcasting network integration, three-network convergence, digital home, and smart city construction. It is a key supporting enterprise for Hubei Province’s e-government transmission network, responsible for planning, designing, constructing, managing, operating, and developing applications for the province’s radio and television information network.

Hubei Broadcasting & Television’s Q3 2025 performance report shows that in the first three quarters of 2025, the company’s operating revenue was 1.136 billion yuan; net profit attributable to shareholders of the listed company was -388 million yuan.

As of 10:29 on March 13, the stock price of Hubei Broadcasting & Television was 5.13 yuan per share, with a total market value of 5.8 billion yuan. (Produced by “Wealth Weekly - Financial News”)