O-Net Lists on Hong Kong Exchange

HONG KONG -- O-Net Communications (Group) Limited (“O-Net Communications”, stock code: 877), a leading supplier of passive optical networking subcomponents, components, modules and subsystems used in high-speed telecommunications and data communications networks, commenced trading on the Main Board of the Stock Exchange of Hong Kong today.

O-Net Communications’ shares were actively traded and recorded an impressive price movement today. Its share price reached an intra-day high of HK$4.06 per share and closed at HK$3.99 per share, approximately 40.0% and 37.6% higher than the offer price of HK$2.90 per share respectively. A total of approximately 267.4 million shares changed hands on turnover of approximately HK$948.5 million.

Mr. Austin Na, CEO and Co-Chairman of O-Net Communications said: “We are delighted at the positive reception for our IPO today, and thank investors for their confidence in our company. We look forward to a positive future as a listed company on the Stock Exchange of Hong Kong”.

O-Net Communications (ShenZhen) Ltd.