China Telecom Corporation Limited,("China Telecom" or the "Company", a joint stock limited company incorporated in the People's Republic of China with limited liability, together with its subsidiaries, collectively the "Group") is a large-scale and leading integrated intelligent information services operator in the world, providing wireline & mobile telecommunications services, Internet access services, information services and other value-added telecommunications services primarily in the PRC. As at the end of 2019, the Company had mobile subscribers of about 336 million, wireline broadband subscribers of about 153 million and access lines in service of about 111 million. The Company's H shares and American Depositary Shares ("ADSs") are listed on The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange" or "HKSE") and the New York Stock Exchange respectively.

China Telecom:

AT&T Inc. (NYSE:T) is a modern media company whose mission is to inspire human progress through the power of communication and entertainment. We bring together premium video content, a large base of direct-to-consumer relationships, high-speed networks optimized for video and advertising technology to lead the next revolution in technology, media and telecommunications. AT&T has recorded 35 consecutive years of quarterly dividend growth and is a Fortune 10 company.

AT&T Asia/Pacific:

Shanghai Information Investment Inc.(hereinafter as “SII”) is a Shanghai-based state-owned investment company focusing on ICT and related industries. It was founded in September 1997 with the approval of Shanghai Municipal Government for accelerating the construction of Shanghai Info-Port and improving the informatization of Shanghai economy and society. As its controlling shareholder.

Since its foundation, by the way of utilizing both government commands and market operation, SII managed to successfully complete main projects of Shanghai Info-port (such as intensive information pipeline, cable network bidirectional transformation, supercomputing center, etc.), cable TV digitization projects (including overall conversion of analog TV to digital TV, construction of Shanghai Next Generation Broadcast Network (NGB),merging of Shanghai suburban counties’ cable networks, etc), and information technology projects (such as “efficient customs clearance” project, electronic payment system, digital certificate authentication system, credit system, etc), thus completed the business layout for “two networks, four platforms” (i.e. the 2 networks of cable TV network and intensive information pipeline network and the 4 platforms of digital home service platform, financial information service platform, modern logistics information service platform, and enterprise data management platform). SII has become an enterprise group possessing total asset of over 10 billion RMB, employing approximately 7,000 people, consisting of one wholly owned enterprise, 12 holding companies, and 11 equity participation companies, and has played the main role in Shanghai’s urban informatization construction.

In the upcoming “Twelfth Five-Year Plan”, SII will adhere to its mission, forge ahead, and strive to build a high-performance, wide-coverage “smart city” infrastructure, actively promoting “smart city” applications (such as “smart finance”, “smart home”, “smart port”, “cloud data centers”, network security, etc.), vigorously driving forward core technological R&D and industrialization, (including ultra-precision manufacturing, HD video, etc), endeavor to become a specialized investment company of the utmost influence in the field of information investment in China and contribute significantly to Shanghai’s “four centers” (i.e. Shanghai international economics center, Shanghai international financial center, Shanghai international shipping center, and Shanghai international trade center) and the construction of the “smart city”.