Beijing Digital Telecom : JOINT ANNOUNCEMENT - MONTHLY UPDATE IN RELATION TO (I) POSSIBLE MANDATORY CONDITIONAL CASH OFFER BY ZHUHAI HUAFA INDUSTRIAL INVESTMENT HOLDING CO., LTD* FOR ALL THE ISSUED DOMESTIC SHARES; AND (II) POSSIBLE MANDATORY CONDITIONAL CASH OFFER BY GUOTAI JUNAN SECURITIES (HONG KONG) LIMITED ON BEHALF OF HONG KONG HUAFA INVESTMENT HOLDINGS LIMITED TO ACQUIRE ALL THE ISSUED H SHARES

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this joint 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 joint announcement.

This joint announcement appears for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities of the Company.

̏ԯࠔڦஷਠ൱ٰ΅Ϟࠢʮ̡ मऎശ೯ྼ᜗ପุҳ༟છٰ

BEIJING DIGITAL TELECOM CO., LTD.

(a joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 6188)

Ϟࠢʮ̡

ZHUHAI HUAFA

INDUSTRIAL

INVESTMENT HOLDING CO., LTD.*

(a limited liability company established in the People's

Republic of China)

࠰ಥശ೯ҳ༟છٰϞࠢʮ̡

HONG KONG HUAFA

INVESTMENT HOLDINGS LIMITED

(a limited liability company incorporated in Hong Kong)

HK Huafa Investment

JOINT ANNOUNCEMENT

MONTHLY UPDATE IN RELATION TO

(I) POSSIBLE MANDATORY CONDITIONAL CASH OFFER BY ZHUHAI HUAFA

INDUSTRIAL INVESTMENT HOLDING CO., LTD* FOR ALL THE ISSUED DOMESTIC SHARES OF BEIJING DIGITAL TELECOM CO., LTD. (OTHER THAN THOSE ALREADY OWNED OR AGREED TO BE ACQUIRED BY ZHUHAI HUAFA INDUSTRIAL INVESTMENT HOLDING CO., LTD* AND PARTIES ACTING IN CONCERT WITH IT); AND

(II)POSSIBLE MANDATORY CONDITIONAL CASH OFFER BY GUOTAI JUNAN SECURITIES (HONG KONG) LIMITED ON BEHALF OF HONG KONG HUAFA INVESTMENT HOLDINGS LIMITED TO ACQUIRE ALL THE ISSUED H SHARES OF BEIJING DIGITAL TELECOM CO., LTD.

Reference is made to the joint announcement (the "Joint Announcement") issued by Beijing Digital Telecom Co., Ltd. (the "Company"), Zhuhai Huafa Industrial Investment Holding Co., Ltd. and Hong Kong Huafa Investment Holdings Limited dated 1 February 2021 in relation to, amongst other things, (i) the acquisition of the Sale Shares; and (ii) the Offers. Capitalised terms used in this joint announcement shall have the same meanings as those defined in the Joint Announcement unless the context requires otherwise.

As disclosed in the Joint Announcement, the making of the Offers is conditional upon Completion which in turn is conditional upon the Conditions (the details of which are set out under the section headed "The Share Purchase Agreement - Conditions precedent to Completion" in the Joint Announcement) having been satisfied (or waived by Zhuhai Huafa Industrial, if applicable) on or prior to the Long Stop Date. The Offeror Group and the Company would like to provide an update on the status of the Conditions.

As at the date of this joint announcement, Condition 2(a) has been fulfilled and Conditions (1), (2)(b), (3), (4), (5) and (6) are to be fulfilled or waived by Zhuhai Huafa Industrial (as the case may be) at Completion. Completion is expected to take place within three (3) Business Days of all Conditions having been satisfied (or waived by Zhuhai Huafa Industrial, if applicable), or at any other time as mutually agreed in writing by Zhuhai Huafa Industrial, the Transferors and the Liu Family.

It is currently expected that the Composite Document will be despatched on or before 16 April 2021. Further announcement(s) will be jointly made by the Offeror Group and the Company in respect of any material developments in relation to the Offers as and when appropriate.

WARNING

Shareholders and potential investors of the Company should note that the Offers may or may not be materialised as the making of the Offers are subject to Completion. Furthermore, the Offers are conditional upon the fulfilment of acceptance conditions. If the total number of Shares in respect of the valid acceptances which the Offeror has received at or before 4:00 p.m. on the date of closing of the Offers (or such later time, or date as the Offeror Group may, subject to the Takeovers Code, decide) under the Offers, together with the voting rights of the Company acquired before or during the Offers, does not result in the Offeror Group and parties acting in concert with it holding more than 50% of the voting rights of the Company, the Offers will not become unconditional and will lapse.

Accordingly, the Shareholders and potential investors of the Company should exercise caution when dealing in the Domestic Shares and the H Shares. If Shareholders and potential investors have any doubt about their position, they should consult their professional advisers. Further announcement(s) will be made by the Offeror Group and the Company regarding the Offers as and when appropriate.

By order of the Board of	By order of the Board of	By order of the Board of
̏ԯࠔڦஷਠ൱ٰ΅Ϟࠢʮ̡	मऎശ೯ྼ᜗ପุҳ༟છٰ	࠰ಥശ೯ҳ༟છٰϞࠢʮ̡
BEIJING DIGITAL	Ϟࠢʮ̡	HONG KONG HUAFA
TELECOM CO., LTD.	ZHUHAI HUAFA	INVESTMENT
LIU Donghai	INDUSTRIAL INVESTMENT	HOLDINGS LIMITED
Director	HOLDING CO., LTD*	LI Guangning
GUO Jin	Director
Director
The PRC, 22 March 2021
- 2 -

As at the date of this joint announcement, the Board comprises the following Directors: Executive Directors: Mr. Liu Donghai, Mr. Liu Yajun and Ms. Liu Wencui; Non-executive Directors: Mr. Li Wenzhi, Mr. Yao Yanzhong and Mr. Lv Jing; Independent Non-executive Directors: Mr. Lv Tingjie, Mr. Lv Pingbo, and Mr. Zhang Senquan.

As at the date of this joint announcement, the directors of Zhuhai Huafa are Mr. Li Guangning, Mr. Ye Yuhong, Mr. Xie Wei, Mr. Chen Yi, Ms. Zhou Youfen, Mr. Huang Jianbin and Mr. Li Weijie.

As at the date of this joint announcement, the directors of Zhuhai Huafa Industrial are Ms. Guo Jin, Mr. Xie Hui, Mr. Xie Hao and Mr. Wang Zhe.

As at the date of this joint announcement, the directors of Hong Kong Huafa are Mr. Li Guangning, Mr. Xie Wei, Mr. Guo Lingyong, Mr. Wu Jiang and Ms. Li Yanmei.

All Directors jointly and severally accept full responsibility for the accuracy of information contained in this joint announcement (other than the information in relation to the Offeror Group and/or parties acting in concert with any of them (for this purpose, excluding the Transferors and the Liu Family)) and confirm, having made all reasonable inquiries, that to the best of their knowledge, opinions expressed in this joint announcement (other than those expressed by the directors of Zhuhai Huafa, Zhuhai Huafa Industrial and/or Hong Kong Huafa) have been arrived at after due and careful consideration and there are no other facts not contained in this joint announcement, the omission of which would make any statement in this joint announcement misleading.

All directors of Zhuhai Huafa, Zhuhai Huafa Industrial and Hong Kong Huafa jointly and severally accept full responsibility for the accuracy of information contained in this joint announcement (other than the information in relation to the Company, the Transferors and/ or the Liu Family) and confirm, having made all reasonable inquiries, that to the best of their knowledge, opinions expressed in this joint announcement (other than those expressed by the Directors) have been arrived at after due and careful consideration and there are no other facts not contained in this joint announcement, the omission of which would make any statement in this joint announcement misleading.

*

For identification purposes only