In November last year, Aodus was sued by Australian regulators. Regulators believe that Odus had unreasonable sales between August 2019 and July 2023.
The stock price of Xin Telecom was not affected. As of about 10:10 am on Wednesday, the stock price rose 0.51% to 3.95 yuan.
Otus has apologized to the affected clients and is taking remedial measures. Odus promised to the Competition and Consumer Commission that it would also take a series of measures to eliminate unreasonable sales behavior in the past, including changing retail processes, systems and sales incentives.
According to the disclosure of Audus Wednesday (June 18), the above fines have been fully allocated in the previous fiscal year ended March 31, 2025.
Singtel's Australian telecom operator Optus Mobile, an Australian telecom operator, reached a settlement with the Australian Competition and Consumer Commission (Australian and Consumer Commission), including payment of AUD 100 million (approximately S$83.34 million) fines and commitments to make changes.