Regarding the incident where a former employee of China Telecom (00728)(SHA:601728) publicly举报 several executives, China Telecom's Enterprise Customer Division issued a statement today stating that Zheng Jiyi was formerly an employee of the department, who had been absent from work for 635 days without valid reason since 2023, and repeated attempts to persuade him to return were ineffective. According to the "People's Republic of China Labor Contract Law" and company regulations, the employment relationship with Zheng Jiyi was lawfully terminated on August 31, 2026. "We have strictly adhered to regulations in project collaborations. The projects mentioned by Zheng Jiyi underwent a special internal review in 2024, and his claims do not align with the facts."

*China Telecom executives accused of illegally siphoning 38 million yuan*

　　According to previous domestic media reports, former China Telecom employee Zheng publicly举报 several senior executives of China Telecom, alleging issues such as organized bid-rigging and forged contracts in the "National Industrial Internet Big Data Center" project, involving the illegal siphoning of 38 million yuan (RMB, same below) in fiscal funds. Specific issues举报ed by Zheng include: a core software development project being "completed" within 13 days, yet reporting a workload of 33,779 man-days; four wholly-owned subsidiaries of the telecom company engaging in internal bid-rigging, with a procurement budget of 35.0495 million yuan and a winning bid amount of 35.04 million yuan, resulting in a 99.97% match between budget and winning bid price.

　　Zheng also claimed that the 77 million yuan in self-raised matching funds for the aforementioned "National Industrial Internet Big Data Center" project involved widespread falsification, including signing false contracts, inflated procurement, bookkeeping adjustments, and false expense listings, and that senior management was fully aware of these actions. Additionally, Zheng stated that he was unilaterally terminated from his employment contract in June 2026. (jq)