[For immediate release] O-Net Completes Acquisition of 3SP Technologies * * * * Strengthen its Position as a Major Technology Partner for LiDAR Products to Capture the High-growth ADAS market

(Hong Kong, 24 April 2017) - O-Net Technologies (Group) Limited ("O-Net" or the "Group") (stock code: 877), a leading high technology enterprise, announced that the acquisition of 3SP Technologies was successfully completed on 21 April 2017.

3SP Technologies ("3SP"), a company incorporated in France, is principally engaged in research, development, manufacturing and supplying of innovative chips and laser products for telecommunications and data communications market as well as innovative high-end markets such as light detection and ranging product (the "LiDAR") for advanced driving assistance system (the "ADAS") market. 3SP has a team of over 20 years professional experiences with 17 members in research and development ("R&D") department, and

19 engineers & technicians responsible for volume production. Worth to note is that 3SP is the only manufacturer in the world which possesses the capability to mass produce Indium Phosphide ("InP") and Gallium Arsenide ("GaAs") laser chips under the same roof, thus the acquisition would not only complement the Group's products for the optical telecommunications and data-communications markets, but also allows the Group to diversify into innovative high-end market.

While O-Net is one of the world's top three largest companies of erbium-doped fiber amplifiers ("EDFA") and Raman amplifiers, the acquisition of 3SP, which is also the main supplier of 980nm pump laser worldwide, can seamlessly support O-Net's EDFA business and solidify the Group's leading position in amplifier market. Moreover, the vertical integration also allows 3SP to proffer their expertise in chip technologies to the Group's another growth driver - transceiver, which will be widely used in data-communication and telecommunication markets. In addition, the diversified laser chip R&D capability of 3SP can help bolster O-Net's fiber laser and LiDAR products development, which are essential for the Group to tap the emerging market of ADAS.

Mr. Austin Na, Chairman and CEO of O-Net Technologies, said, "We are excited to welcome 3SP Technologies to become part of our Group officially which provides a solid platform for us to extend our research, development and manufacturing capability. Adding 3SP Technologies to O-Net also enables us to diversity our products range from optical products and solutions to chips, laser products and solutions. Coupled with the strong R&D capability of ITF Technologies for its LiDAR applications, we are set to become a major technology partner for LiDAR products in order to capture the rapid growth of ADAS market. We will continue to explore investment opportunities to further optimize the value of our products, in particular the diversification and advancement of our chips products, and to solidify our leading position by mergers and acquisition in order to deliver sustainable returns to our shareholders in the long run."

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About O-Net Technologies (Group) Limited (Stock code: 877)

O-Net Technologies (Group) Limited, with headquarter in Shenzhen, was listed on the Stock Exchange of Hong Kong Limited on 29 April 2010. It is a leading supplier of optical networking products to the global optical telecommunication and datacom markets. To further strengthen the Group's leadership in the global technology industry, the acquisition of 3SP technologies and ITF Technologies enable the Group to secure the supply of advanced laser chips and optical components in order to widen the Group's product range and improve its technologies through vertical integration. Riding on the Group's core optical networking technology platform, it has diversified from its core business to certain new businesses including automation and sensing and laser applications, and has re-positioned its strategic focus from a sole telecom passive component supplier to a high technology leader with advanced products and solutions for cloud data centers, industrial laser and ADAS markets with an aim to become a leading high-tech company.

Media enquiries:

Strategic Financial Relations Limited

Maggie Au

+852 2864 4815

maggie.au@sprg.com.hk

Isabel Kwok

+852 2864 4824

isabel.kwok@sprg.com.hk

Fax:

+852 2527 1196 / 2804 2789

O-Net Communications (Group) Ltd. published this content on 24 April 2017 and is solely responsible for the information contained herein.
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