CCS2989 PCCH_NRH REPLY FORM 回條 To: PCCW Limited (the "Company") 致： 電訊盈科有限公司（「公司」） (Stock Code: 0008) （股份代號：0008） c/o Computershare Hong Kong Investor Services Limited (the "Share Registrar") 經香港中央證券登記有限公司（「股份過戶登記處」） 17M Floor, Hopewell Centre 香港灣仔皇后大道東 183 號 183 Queen's Road East, Wan Chai, Hong Kong 合和中心 17M 樓 Computershare Hong Kong Investor Services Freepost No. Hong Kong Please cut the mailing label and stick it on an envelope to return this Reply Form to us. No postage is necessary if posted in Hong Ko ...

- Notification of publication of 2025 Interim Report (the "Current Corporate Communication") The Current Corporate Communication of the Company (in English and Chinese) is available on the Company's website at www.pccw.com/ir and the website of Hong Kong Exchanges and Clearing Limited ("HKEX") at www.hkexnews.hk. If you wish to receive the printed version(s) of the Current Corporate Communication or all future Corporate Communications(Note 2) of the Company, please complete the enclosed Reply Form, sign and ...

CCS2988 PCCH REPLY FORM 回條 To: PCCW Limited (the "Company") 致： 電訊盈科有限公司（「公司」） (Stock Code: 0008) （股份代號：0008） c/o Computershare Hong Kong Investor Services Limited (the "Share Registrar") 經香港中央證券登記有限公司（「股份過戶登記處」） 17M Floor, Hopewell Centre 香港灣仔皇后大道東 183 號 183 Queen's Road East, Wan Chai, Hong Kong 合和中心 17M 樓 Part A 甲部 (For Election/Change of Means of Receipt of future Corporate Communications 適用於選擇╱更改日後公司通訊之收取方式 ) (Please choose ONLY ONE of the options below)（請僅選擇下列其中一項） Option 1: Provide email address by sc ...

PCCW Limited 電訊盈科有限公司 (Incorporated in Hong Kong with limited liability) （於香港註冊成立的有限公司） (Stock Code: 0008) （股份代號：0008） Even if you have chosen (or are deemed to have agreed) to read the website version of the Company's Current Corporate Communication published on the Company's website in place of receiving printed copies, if for any reason, you have difficulty in receiving or gaining access to such website version, the Company will, upon your request in writing or by email, promptly send the printed version ...

PCCW Limited 電訊盈科有限公司 (Incorporated in Hong Kong with limited liability) (Stock Code: 0008) 5 September 2025 Dear Shareholder(s) Election of Means of Receipt of Corporate Communications Pursuant to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, PCCW Limited (the "Company") supplies Corporate Communications* to shareholders by electronic means through the Company's website at www.pccw.com/ir and the website of Hong Kong Exchanges and Clearing Limited ("HKEX") at www ...

[About PCCW](index=3&type=section&id=About%20PCCW) [Company Overview](index=3&type=section&id=Company%20Overview) PCCW is a global company based in Hong Kong with businesses in telecom, media, IT services, property development, and investment - PCCW is a Hong Kong-based global company with diversified businesses in telecommunications, media, IT solutions, property development, and investment[4](index=4&type=chunk) - The company holds a majority interest in HKT Trust and HKT Limited, Hong Kong's premier telecommunications service provider[4](index=4&type=chunk) - PCCW operates a fully integrated multimedia and entertainment group in Hong Kong, offering OTT video services, content creation, artist management, and the free-to-air TV service ViuTV[4](index=4&type=chunk)[5](index=5&type=chunk) [Chairman's Statement](index=4&type=section&id=Chairman's%20Statement) [Market Environment and Corporate Strategy](index=4&type=section&id=Market%20Environment%20and%20Corporate%20Strategy) The company is capitalizing on rising demand for content, data, and AI by deepening customer engagement and expanding technology applications - PCCW is addressing the rising demand for content, data, and AI-driven services by deepening customer engagement, enhancing network connectivity, and expanding emerging technology applications[7](index=7&type=chunk) - Viu has solidified its leadership in Southeast Asia's online video market through a multi-pillar content strategy and is producing a major Hong Kong-based drama to boost the city's international appeal[7](index=7&type=chunk) - HKT's 800G AI Superhighway connects major data center clusters, deploys 5G private networks, and provides ASEAN connectivity, with **5G subscribers now exceeding 54%** of the post-paid base[8](index=8&type=chunk)[9](index=9&type=chunk) [Acting Group Managing Director's Statement](index=5&type=section&id=Acting%20Group%20Managing%20Director's%20Statement) [Profit Growth and Business Performance](index=5&type=section&id=Profit%20Growth%20and%20Business%20Performance) The company achieved solid revenue and EBITDA growth in H1, driven by strong performance from Viu and HKT, and declared an interim dividend - In the first half of the year, PCCW's **revenue grew 7% to HK$18.922 billion**, and **EBITDA increased 6% to HK$6.010 billion**[16](index=16&type=chunk) Viu Business Performance (as of end-June 2025) | Metric | Data | | :--- | :--- | | Paid Subscribers | 13.8 million | | H1 Revenue Growth | 10% | | EBITDA Margin | Improved from 21% to 29% | - ViuTV's digital membership **grew over 4% to 3.3 million**, with viewing time up by more than 4%, while creating new opportunities for artists through live concerts and international collaborations[14](index=14&type=chunk) HKT Business Performance (H1) | Metric | Growth Rate | | :--- | :--- | | Revenue | 4% | | EBITDA | 3% | | Adjusted Funds Flow | 3% | - The Board declared an interim dividend of **HK$9.77 cents per ordinary share** for the six months ended June 30, 2025, and will continue to adopt a prudent dividend policy[16](index=16&type=chunk) [Board of Directors](index=7&type=section&id=Board%20of%20Directors) [Executive Directors](index=7&type=section&id=Executive%20Directors) This section lists PCCW's executive directors, including their respective roles, experience, and professional backgrounds - Mr Richard Li Tzar Kai serves as Executive Director and Chairman of PCCW, and also holds key positions at PCG, FWD Group, and HKT[18](index=18&type=chunk) - Ms Susanna Hui Hon Hing is the Executive Director, Acting Group Managing Director, and Group Chief Financial Officer, holding multiple key roles within PCCW Group and HKT with extensive experience in the innovation and technology ecosystem[19](index=19&type=chunk)[21](index=21&type=chunk) [Non-Executive Directors](index=8&type=section&id=Non-Executive%20Directors) This section introduces PCCW's non-executive directors, who possess extensive expertise in insurance, telecom, finance, and investment - Mr Tse Sze Wing, an Non-Executive Director, is a renowned figure in the international insurance industry, having held senior positions at AIG and AIA[22](index=22&type=chunk)[23](index=23&type=chunk)[24](index=24&type=chunk) - Mr Tang Yongbo serves as a Non-Executive Director and Deputy Chairman, and is also a director of China Unicom Group and China Unicom (Hong Kong) Limited, with extensive management experience in the telecommunications industry[25](index=25&type=chunk) - Ms Meng Shusen, a Non-Executive Director, is the Chairman and President of China Unicom Global Limited, with rich experience in telecom technology, sales, and corporate governance[26](index=26&type=chunk) - Mr David Wei, a Non-Executive Director, has over 20 years of experience in investment and operational management in China and was the former CEO of Alibaba.com Limited[28](index=28&type=chunk) [Independent Non-Executive Directors](index=10&type=section&id=Independent%20Non-Executive%20Directors) This section lists PCCW's independent non-executive directors, who have profound international experience in banking, consulting, and media - Mr Aman Mehta, an Independent Non-Executive Director, is a distinguished international banker who previously served as the Chief Executive Officer of The Hongkong and Shanghai Banking Corporation Limited[31](index=31&type=chunk)[32](index=32&type=chunk) - Ms Jennifer Wong How Yue, an Independent Non-Executive Director, has extensive experience in management consulting and media, having worked at McKinsey & Company and held senior roles at Hutchison Whampoa Group and PCG[34](index=34&type=chunk)[35](index=35&type=chunk) - Mr Bryce Wayne Lee, an Independent Non-Executive Director, is currently a Managing Director at Silver Lake with extensive experience in investment banking and technology investments[36](index=36&type=chunk) - Mr Sharhan Mohamed Muhseen Mohamed, an Independent Non-Executive Director, is a seasoned investment banker with extensive experience in M&A, corporate finance, and capital markets[41](index=41&type=chunk)[42](index=42&type=chunk) [Management's Discussion and Analysis](index=14&type=section&id=Management's%20Discussion%20and%20Analysis) [Financial Summary](index=14&type=section&id=Financial%20Summary) The Group reported growth in revenue and EBITDA, with a significant increase in consolidated profit and a narrowed loss attributable to equity holders Key Financial Data for H1 2025 | Metric | Amount (HK$) | YoY Change | | :--- | :--- | :--- | | Revenue | 18.922 billion | +7% | | EBITDA | 6.010 billion | +6% | | Consolidated Profit | 758 million | +116% | | Loss attributable to equity holders | (445 million) | Loss narrowed | | Interim Dividend (per ordinary share) | 9.77 cents | - | - Viu's paid subscribers **increased to 13.8 million**, driving a **27% rise** in subscription and advertising revenue[44](index=44&type=chunk) - ViuTV's digital membership reached **3.3 million**, with a strong lineup of concerts and programs planned for the second half of the year[44](index=44&type=chunk) [Segment Financial Review](index=15&type=section&id=Segment%20Financial%20Review) This section details the financial performance of PCCW's business segments in H1 2025, highlighting growth in HKT and OTT businesses Segment Financial Performance for H1 2025 | Business Segment | Revenue (HK$ million) | Revenue YoY Change | EBITDA (HK$ million) | EBITDA YoY Change | | :--- | :--- | :--- | :--- | :--- | | HKT | 17,322 | +4% | 6,380 | +3% | | OTT Business | 1,194 | +10% | 346 | +51% | | Free TV and Related Business | 343 | (29)% | 47 | (48)% | | Other Businesses | 743 | +99% | (364) | (18)% | | Consolidated | 18,922 | +7% | 6,010 | +6% | [HKT](index=17&type=section&id=HKT) - HKT's total revenue **grew 4% to HK$17.322 billion**, and total EBITDA **rose over 3% year-on-year to HK$6.380 billion**, with a stable EBITDA margin of 37%[47](index=47&type=chunk)[50](index=50&type=chunk) - Broadband revenue **increased by 3%**, with **1.055 million** Fiber-to-the-Home (FTTH) connections accounting for 71% of consumer broadband lines, while local data revenue **grew 11%** year-on-year[48](index=48&type=chunk) - Mobile revenue **grew 5% to HK$5.2 billion**, driven by roaming services growth, an expanded post-paid customer base, and an increase in 5G subscribers to **1.894 million** (over 54% of post-paid customers)[49](index=49&type=chunk) - Operating costs were **reduced by 4% to HK$1.921 billion**, reflecting efficiencies from AI-driven workflow transformation and business streamlining[50](index=50&type-chunk) [OTT Business](index=18&type=section&id=OTT%20Business) - OTT business revenue **rose significantly by 10% to HK$1.194 billion**, primarily contributed by Viu, which accounted for nearly 90% of the segment's revenue[52](index=52&type=chunk) - Viu's subscription and advertising revenue **grew by 27%**, with paid subscribers (excluding Myanmar) reaching **13.8 million**, a **19% year-on-year increase**[52](index=52&type=chunk)[55](index=55&type=chunk) - OTT business EBITDA **surged 51% to HK$346 million**, with the margin improving from 21% to 29%, moving towards positive cash flow[55](index=55&type=chunk) - Viu added nearly 150 new titles, including popular Korean and Chinese dramas, and expanded partnerships with telecom operators and media companies[54](index=54&type=chunk) [Free TV and Related Business](index=19&type=section&id=Free%20TV%20and%20Related%20Business) - The Free TV and Related Business recorded revenue of **HK$343 million**, a **29% decrease** from the same period last year, mainly due to the timing of concerts and events[56](index=56&type=chunk) - EBITDA **declined to HK$47 million** with a margin of 14%, consistent with the deferral of event-related revenue, which is expected to recover in the second half of the year[58](index=58&type=chunk) - ViuTV's digital membership **grew by over 4% to 3.3 million**, with viewing time also increasing by more than 4%[57](index=57&type=chunk) [Other Businesses](index=19&type=section&id=Other%20Businesses) - Revenue from Other Businesses **grew 99%** from HK$373 million last year to **HK$743 million**, in line with the progress of IT enterprise solutions projects[59](index=59&type=chunk) - EBITDA costs for the six months ended June 30, 2025 were **HK$364 million**[59](index=59&type=chunk) [Eliminations](index=19&type=section&id=Eliminations) - Eliminations for the six months ended June 30, 2025 amounted to **HK$680 million**, reflecting inter-segment collaborations on internal and external projects[60](index=60&type=chunk) [Costs](index=20&type=section&id=Costs) The Group's total cost of sales increased due to revenue mix changes at HKT, while overall operating costs decreased from efficiency gains - The Group's total cost of sales **increased by 12% to HK$9.978 billion**, while HKT's cost of sales rose by 6% to HK$9.021 billion[61](index=61&type=chunk) - The Group's operating costs **decreased by 5% to HK$2.934 billion**, and the operating costs to revenue ratio improved from 17.4% to 15.5%[62](index=62&type=chunk) - HKT reduced operating costs by 4% to HK$1.921 billion through AI-driven workflow transformation, while the OTT business achieved cost savings through enhanced promotional efficiency[62](index=62&type=chunk) [EBITDA](index=20&type=section&id=EBITDA) Consolidated EBITDA grew, driven by increased contributions from the OTT business and the solid performance of HKT - Consolidated EBITDA **rose 6% to HK$6.010 billion**, primarily driven by increased contributions from the OTT business and HKT's solid performance and operational efficiencies[63](index=63&type=chunk) - The EBITDA margin remained stable at **32%**[63](index=63&type=chunk) [Other Net Gains](index=20&type=section&id=Other%20Net%20Gains) Other net gains decreased compared to the prior year, mainly reflecting the revaluation of the Group's investment portfolio - For the six months ended June 30, 2025, other net gains were **HK$125 million**, compared to HK$184 million in the prior year[64](index=64&type=chunk) - The change primarily reflects the mark-to-market revaluation of the Group's investment portfolio[64](index=64&type=chunk) [Interest Income and Finance Costs](index=20&type=section&id=Interest%20Income%20and%20Finance%20Costs) Finance costs decreased significantly due to HKT's debt reduction and a decline in HIBOR, lowering the Group's average cost of debt - Interest income was **HK$45 million**, while finance costs **decreased significantly by 15% to HK$1.185 billion**[65](index=65&type=chunk) - The reduction in finance costs was mainly due to lower borrowings following HKT's debt reduction in late 2024 and a decline in HIBOR since early May 2025[65](index=65&type=chunk) - The Group's average cost of debt **decreased year-on-year from 4.4% to 4.1%**, and net finance costs fell by 14% to HK$1.140 billion[65](index=65&type=chunk) [Income Tax](index=20&type=section&id=Income%20Tax) Income tax expense increased year-on-year, primarily as a result of higher profit before income tax during the period - Income tax expense was **HK$446 million**, compared to HK$326 million in the prior year[66](index=66&type=chunk) - The increase in income tax expense was mainly due to the increase in profit before income tax for the period[66](index=66&type=chunk) [Profit Attributable to Non-controlling Interests](index=21&type=section&id=Profit%20Attributable%20to%20Non-controlling%20Interests) Profit attributable to non-controlling interests increased, mainly representing the share of results for non-controlling shareholders of HKT and Viu - Profit attributable to non-controlling interests was **HK$1.088 billion** (June 30, 2024: HK$696 million)[67](index=67&type=chunk) - This primarily represents the results attributable to non-controlling shareholders of HKT and Viu International Limited[67](index=67&type=chunk) [Profit Attributable to Holders of Perpetual Capital Securities](index=21&type=section&id=Profit%20Attributable%20to%20Holders%20of%20Perpetual%20Capital%20Securities) This amount represents the coupon payment on the perpetual capital securities issued by the Group in January 2021 - Profit attributable to holders of perpetual capital securities was **HK$115 million**[68](index=68&type=chunk) - This represents the coupon payable to security holders on the perpetual capital securities issued in January 2021, bearing interest at a rate of 4% per annum[68](index=68&type=chunk) [Loss Attributable to Equity Holders of the Company](index=21&type=section&id=Loss%20Attributable%20to%20Equity%20Holders%20of%20the%20Company) The loss attributable to equity holders narrowed due to improved operating profit and lower net finance costs - The loss attributable to equity holders of the Company **narrowed to HK$445 million** (June 30, 2024: HK$462 million)[69](index=69&type=chunk) - The narrowed loss was a result of improved operating profit and a decrease in net finance costs[69](index=69&type=chunk) [Liquidity and Capital Resources](index=21&type=section&id=Liquidity%20and%20Capital%20Resources) The Group maintained a solid liquidity position with substantial available bank facilities and investment-grade credit ratings Liquidity Position as at June 30, 2025 | Metric | Amount (HK$) | | :--- | :--- | | Total Debt | 57.273 billion | | Cash and Short-term Deposits | 2.329 billion | | Available Bank Facilities | 59.761 billion | | Undrawn Bank Facilities | 22.093 billion | | Total Debt to Total Assets Ratio | 57% | - CAS Holding No 1 Limited is rated **"Baa3" by Moody's** and **"BBB-" by S&P**, while Hong Kong Telecommunications (HKT) Limited is rated **"Baa2" by Moody's** and **"BBB" by S&P**[71](index=71&type=chunk) [Capital Expenditure](index=21&type=section&id=Capital%20Expenditure) The Group's capital expenditure decreased, with HKT accounting for the majority, reflecting prudent investment in digital capabilities - The Group's capital expenditure was **HK$1.106 billion** (June 30, 2024: HK$1.142 billion), with HKT accounting for approximately 97%[72](index=72&type=chunk) - The capital expenditure to revenue ratio was approximately **5.8%** (June 30, 2024: 6.5%)[72](index=72&type=chunk) - HKT's mobile and telecommunications services capex decreased, while media business capex also fell following the completion of a new production studio's first phase[72](index=72&type=chunk) [Hedging](index=22&type=section&id=Hedging) The Group actively manages foreign currency and interest rate risks through a non-speculative hedging policy - The Group's policy is to continuously manage market risks directly related to its business and financing activities and not to engage in speculative derivative transactions[73](index=73&type=chunk) - Approximately three-quarters of the Group's consolidated revenue and costs are denominated in Hong Kong dollars, providing a natural hedge[73](index=73&type=chunk) - The Group has entered into forward and swap contracts to manage foreign exchange and interest rate risks on its foreign currency-denominated financing[73](index=73&type=chunk) [Pledge of Assets](index=22&type=section&id=Pledge%20of%20Assets) As of the reporting date, the Group had not pledged any assets to secure its bank facilities - As at June 30, 2025, the Group had not pledged any assets to secure its bank facilities[74](index=74&type=chunk) [Contingent Liabilities](index=22&type=section&id=Contingent%20Liabilities) The Group's contingent liabilities primarily consist of performance guarantees and a partial guarantee for a credit facility to an associate Contingent Liabilities (HK$ million) | Item | Dec 31, 2024 | June 30, 2025 | | :--- | :--- | :--- | | Performance guarantees | 1,227 | 1,119 | | Others | 25 | 24 | | **Total** | **1,252** | **1,143** | - The Group has provided a partial guarantee for a **HK$780 million** credit facility granted to an associate, with its share of the drawn amount being approximately **HK$235 million**[75](index=75&type=chunk) [Human Resources](index=22&type=section&id=Human%20Resources) The Group employs over 14,400 staff globally and maintains performance-based bonus and incentive schemes - As at June 30, 2025, the Group employed over **14,400 employees** in 25 countries and cities worldwide (June 30, 2024: 14,800)[76](index=76&type=chunk) - Approximately **68% of employees** are based in Hong Kong, with the remainder mostly employed in mainland China[76](index=76&type=chunk) - The Group has performance-based bonus and incentive schemes tied to revenue, EBITDA, and free cash flow targets, as well as individual performance[76](index=76&type=chunk) [Interim Dividend](index=22&type=section&id=Interim%20Dividend) The Board declared an interim dividend of HK$9.77 cents per ordinary share for the first half of 2025 - The Board has declared an interim dividend of **HK$9.77 cents per ordinary share** for the six months ended June 30, 2025 (June 30, 2024: HK$9.77 cents)[77](index=77&type=chunk) - The dividend will be paid on or about Friday, September 5, 2025, to shareholders on the register of members on Wednesday, August 20, 2025[77](index=77&type=chunk) [Consolidated Income Statement](index=23&type=section&id=Consolidated%20Income%20Statement) [Consolidated Income Statement for H1 2025](index=23&type=section&id=Consolidated%20Income%20Statement%20for%20H1%202025) The Group's profit for the period was HK$758 million, with a loss attributable to equity holders of HK$445 million H1 2025 Consolidated Income Statement Summary (HK$ million) | Metric | 2024 (Unaudited) | 2025 (Unaudited) | | :--- | :--- | :--- | | Revenue | 17,698 | 18,922 | | Cost of sales | (8,939) | (9,978) | | General and administrative expenses | (6,761) | (6,602) | | Other net gains | 184 | 125 | | Interest income | 68 | 45 | | Finance costs | (1,390) | (1,185) | | Profit before income tax | 677 | 1,204 | | Income tax | (326) | (446) | | **Profit for the period** | **351** | **758** | | (Loss)/profit attributable to equity holders | (462) | (445) | | Attributable to perpetual capital securities holders | 117 | 115 | | Attributable to non-controlling interests | 696 | 1,088 | | **Loss per share (basic and diluted)** | **(5.98) HK cents** | **(5.75) HK cents** | [Consolidated Statement of Comprehensive Income](index=24&type=section&id=Consolidated%20Statement%20of%20Comprehensive%20Income) [Consolidated Statement of Comprehensive Income for H1 2025](index=24&type=section&id=Consolidated%20Statement%20of%20Comprehensive%20Income%20for%20H1%202025) The Group recorded a total comprehensive income of HK$141 million, resulting from a profit for the period offset by other comprehensive loss H1 2025 Consolidated Statement of Comprehensive Income Summary (HK$ million) | Metric | 2024 (Unaudited) | 2025 (Unaudited) | | :--- | :--- | :--- | | Profit for the period | 351 | 758 | | Other comprehensive (loss)/income | (257) | (617) | | **Total comprehensive income for the period** | **94** | **141** | | Attributable to equity holders of the Company | (682) | (782) | | Attributable to perpetual capital securities holders | 117 | 115 | | Attributable to non-controlling interests | 659 | 808 | - Other comprehensive loss mainly includes fair value changes of financial assets at FVTOCI, currency translation differences, and fair value changes of cash flow hedges[80](index=80&type=chunk) [Consolidated and Company Statements of Financial Position](index=25&type=section&id=Consolidated%20and%20Company%20Statements%20of%20Financial%20Position) [Consolidated and Company Statements of Financial Position as at June 30, 2025](index=25&type=section&id=Consolidated%20and%20Company%20Statements%20of%20Financial%20Position%20as%20at%20June%2030%2C%202025) The Group's total assets stood at HK$101.17 billion, with net assets of HK$7.40 billion as of June 30, 2025 Consolidated Statement of Financial Position Summary as at June 30, 2025 (HK$ million) | Item | Dec 31, 2024 (Audited) | June 30, 2025 (Unaudited) | | :--- | :--- | :--- | | **Assets** | | | | Non-current assets | 83,727 | 85,247 | | Current assets | 15,031 | 15,922 | | **Total assets** | **98,758** | **101,169** | | **Liabilities** | | | | Current liabilities | (25,291) | (22,766) | | Non-current liabilities | (61,953) | (71,007) | | **Total liabilities** | **(87,244)** | **(93,773)** | | **Net assets** | **11,514** | **7,396** | | Equity attributable to equity holders of the Company | 1,604 | (1,366) | | Perpetual capital securities | 5,884 | 5,592 | | Non-controlling interests | 4,026 | 3,170 | | **Total equity** | **11,514** | **7,396** | - Intangible assets (including goodwill) represent a significant portion of non-current assets, amounting to **HK$41.613 billion**[82](index=82&type=chunk) - Within current liabilities, short-term borrowings decreased significantly to **HK$1.252 billion**, while trade payables increased to **HK$8.556 billion**[83](index=83&type=chunk) [Consolidated Statement of Changes in Equity](index=27&type=section&id=Consolidated%20Statement%20of%20Changes%20in%20Equity) [Consolidated Statement of Changes in Equity for H1 2025](index=27&type=section&id=Consolidated%20Statement%20of%20Changes%20in%20Equity%20for%20H1%202025) Equity attributable to the Company's equity holders decreased, primarily due to the loss for the period and other comprehensive loss H1 2025 Summary of Changes in Equity (HK$ million) | Item | Total equity attributable to equity holders | Perpetual capital securities | Non-controlling interests | Total equity | | :--- | :--- | :--- | :--- | :--- | | At January 1, 2025 | 1,604 | 5,884 | 4,026 | 11,514 | | Total comprehensive income/(loss) for the period | (782) | 115 | 808 | 141 | | Total transactions with owners | (2,188) | (407) | (1,664) | (4,259) | | **At June 30, 2025** | **(1,366)** | **5,592** | **3,170** | **7,396** | - The change in equity attributable to the Company's equity holders was mainly impacted by the **loss for the period (HK$445 million)** and **other comprehensive loss (HK$337 million)**[86](index=86&type=chunk) - Total transactions with owners amounted to a **negative HK$4.26 billion**, primarily including dividend payments, distributions to non-controlling interests, and redemption of perpetual capital securities[86](index=86&type=chunk) [Condensed Consolidated Statement of Cash Flows](index=29&type=section&id=Condensed%20Consolidated%20Statement%20of%20Cash%20Flows) [Condensed Consolidated Statement of Cash Flows for H1 2025](index=29&type=section&id=Condensed%20Consolidated%20Statement%20of%20Cash%20Flows%20for%20H1%202025) The Group generated positive net cash from operating activities, while cash was used in investing and financing activities H1 2025 Condensed Consolidated Statement of Cash Flows Summary (HK$ million) | Item | 2024 (Unaudited) | 2025 (Unaudited) | | :--- | :--- | :--- | | Net cash generated from operating activities | 4,411 | 5,074 | | Net cash used in investing activities | (3,872) | (4,221) | | Net cash used in financing activities | (1,199) | (1,321) | | Net decrease in cash and cash equivalents | (660) | (468) | | Effect of foreign exchange rate changes | (11) | 6 | | Cash and cash equivalents at January 1 | 2,627 | 2,288 | | **Cash and cash equivalents at June 30** | **1,956** | **1,826** | - Net cash generated from operating activities increased year-on-year, indicating strong cash generation from core operations[87](index=87&type=chunk) - Net cash used in investing activities increased, primarily including investments in associates and other investing activities[87](index=87&type=chunk) - Net cash used in financing activities increased, as proceeds from new borrowings were offset by other financing activities, including repayment of borrowings[87](index=87&type=chunk) [Notes to the Unaudited Condensed Consolidated Interim Financial Information](index=30&type=section&id=Notes%20to%20the%20Unaudited%20Condensed%20Consolidated%20Interim%20Financial%20Information) [1. Basis of Preparation](index=30&type=section&id=1.%20Basis%20of%20Preparation) This financial information is prepared in accordance with HKAS 34 and has been reviewed by the Audit Committee and independent auditor - This unaudited condensed consolidated interim financial information has been prepared in accordance with the applicable disclosure requirements of Appendix D2 to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and Hong Kong Accounting Standard (HKAS) 34 "Interim Financial Reporting"[89](index=89&type=chunk) - This financial information has been reviewed by the Company's Audit Committee and by the independent auditor in accordance with Hong Kong Standard on Review Engagements 2410[89](index=89&type=chunk) - Management has determined that the Group is able to meet its debts as they fall due for the next 12 months, and therefore has prepared this financial information on a going concern basis[91](index=91&type=chunk) [2. Segment Information](index=31&type=section&id=2.%20Segment%20Information) The Group's performance is assessed from a product perspective, primarily divided into HKT, Media, and Other Businesses - The chief operating decision-maker considers the business from a product perspective and assesses the performance of HKT, Media Business, and Other Businesses[94](index=94&type=chunk)[95](index=95&type=chunk) - EBITDA is the measure of segment performance, representing earnings before interest, tax, depreciation, and amortization[94](index=94&type=chunk) H1 2025 Segment EBITDA (HK$ million) | Business Segment | EBITDA | | :--- | :--- | | HKT | 6,380 | | Media Business | 393 | | Other Businesses | (364) | | Eliminations | (399) | | **Consolidated EBITDA** | **6,010** | [3. Other Net Gains](index=33&type=section&id=3.%20Other%20Net%20Gains) Other net gains were primarily driven by fair value changes of financial assets at FVTPL and derivative financial instruments H1 2025 Composition of Other Net Gains (HK$ million) | Item | 2024 (Unaudited) | 2025 (Unaudited) | | :--- | :--- | :--- | | Fair value changes of financial assets at FVTPL | 143 | 68 | | Fair value changes of derivative financial instruments | 7 | 10 | | Others | 34 | 47 | | **Total** | **184** | **125** | [4. Profit Before Income Tax](index=33&type=section&id=4.%20Profit%20Before%20Income%20Tax) Profit before income tax was HK$1.204 billion, after deducting costs of inventories sold, amortization, and finance costs H1 2025 Major Deductions from Profit Before Income Tax (HK$ million) | Item | 2024 (Unaudited) | 2025 (Unaudited) | | :--- | :--- | :--- | | Cost of inventories sold | 3,163 | 4,243 | | Cost of sales (excluding inventories sold) | 5,776 | 5,735 | | Amortization of intangible assets | 1,576 | 1,635 | | Finance costs on borrowings | 1,292 | 1,079 | - Profit before income tax was **HK$1.204 billion**, an increase from HK$677 million in the same period last year[78](index=78&type=chunk) [5. Income Tax](index=34&type=section&id=5.%20Income%20Tax) Income tax expense for the period includes Hong Kong profits tax, overseas taxation, and changes in deferred income tax H1 2025 Composition of Income Tax Expense (HK$ million) | Item | 2024 (Unaudited) | 2025 (Unaudited) | | :--- | :--- | :--- | | Hong Kong profits tax | 157 | 156 | | Overseas taxation | 43 | 37 | | Change in deferred income tax | 126 | 253 | | **Total** | **326** | **446** | - Hong Kong profits tax has been provided at the rate of 16.5% on the estimated assessable profit for the period[100](index=100&type=chunk) - The Group has assessed the potential impact of top-up tax under the Global Anti-Base Erosion (GloBE) Rules (Pillar Two) and has no tax exposure as of the reporting date[101](index=101&type=chunk) [6. Dividends](index=34&type=section&id=6.%20Dividends) The Board declared an interim dividend of HK$9.77 cents per share, and the final dividend for the previous year was paid during the period H1 2025 Dividend Information (HK$ million) | Item | 2024 (Unaudited) | 2025 (Unaudited) | | :--- | :--- | :--- | | Interim dividend (HK$9.77 cents per share) | 756 | 756 | | Prior year final dividend paid (HK$28.48 cents per share) | 2,202 | 2,203 | - The interim dividend has not been recognized as a liability in this unaudited condensed consolidated interim financial information[102](index=102&type=chunk) [7. Loss Per Share](index=35&type=section&id=7.%20Loss%20Per%20Share) The basic and diluted loss per share for H1 2025 was HK$5.75 cents, a slight improvement from the prior year H1 2025 Loss Per Share (HK$) | Metric | 2024 (Unaudited) | 2025 (Unaudited) | | :--- | :--- | :--- | | Loss for calculating basic and diluted loss per share (million) | (462) | (445) | | Weighted average number of ordinary shares for basic loss per share | 7,730,147,245 | 7,733,145,659 | | **Basic and diluted loss per share** | **(5.98) cents** | **(5.75) cents** | - The impact of PCCW Shares granted under the Company's share award schemes had an anti-dilutive effect on the loss per share for the six months ended June 30, 2024 and 2025[104](index=104&type=chunk) [8. Net Trade Receivables](index=36&type=section&id=8.%20Net%20Trade%20Receivables) Net trade receivables stood at HK$3.568 billion, with the majority of balances aged within 30 days Aging Analysis of Trade Receivables (HK$ million) | Aging | Dec 31, 2024 (Audited) | June 30, 2025 (Unaudited) | | :--- | :--- | :--- | | 1 – 30 days | 2,315 | 2,196 | | 31 – 60 days | 482 | 368 | | 61 – 90 days | 196 | 316 | | 91 – 120 days | 192 | 219 | | Over 120 days | 854 | 876 | | **Total** | **4,039** | **3,975** | | Less: Loss allowance | (362) | (407) | | **Net trade receivables** | **3,677** | **3,568** | - Net trade receivables included amounts due from related parties of **HK$120 million**[105](index=105&type=chunk) - The Group's credit period for general customers is up to 30 days from the invoice date, with individual credit assessments for high-value credit[106](index=106&type=chunk) [9. Trade Payables](index=37&type=section&id=9.%20Trade%20Payables) Trade payables increased to HK$8.556 billion, with the largest portion aged within 30 days Aging Analysis of Trade Payables (HK$ million) | Aging | Dec 31, 2024 (Audited) | June 30, 2025 (Unaudited) | | :--- | :--- | :--- | | 1 – 30 days | 2,985 | 3,675 | | 31 – 60 days | 1,751 | 2,298 | | 61 – 90 days | 915 | 844 | | 91 – 120 days | 1,011 | 673 | | Over 120 days | 908 | 1,066 | | **Total** | **7,570** | **8,556** | - Trade payables included amounts due to related parties of **HK$247 million**[107](index=107&type=chunk) [10. Share Capital](index=37&type=section&id=10.%20Share%20Capital) As of June 30, 2025, the Company had over 7.74 billion ordinary shares issued and fully paid Share Capital Information (HK$ million) | Item | Jan 1 & June 30, 2024 (Unaudited) | Jan 1 & June 30, 2025 (Unaudited) | | :--- | :--- | :--- | | Number of issued shares | 7,739,638,249 | 7,741,063,374 | | Share capital | 12,954 | 12,954 | - The total reserves available for distribution by the Company as at June 30, 2025 amounted to **HK$16.896 billion** (as at December 31, 2024: HK$17.722 billion)[108](index=108&type=chunk) [11. Share Award Schemes of the Company and HKT Trust and HKT](index=38&type=section&id=11.%20Share%20Award%20Schemes%20of%20the%20Company%20and%20HKT%20Trust%20and%20HKT) The Company and its subsidiaries operate share award schemes to grant shares and share stapled units to selected participants - The Company operates the PCCW Share Award Scheme, while HKT Trust and HKT operate Share Stapled Unit Award Schemes to grant shares and units to selected participants[109](index=109&type=chunk) Summary of Share Award Scheme Movements (as at June 30, 2025) | Item | At Jan 1, 2025 | Vested | At June 30, 2025 | | :--- | :--- | :--- | :--- | | Number of PCCW Shares | 9,408,279 | (5,883,923) | 3,524,356 | | Number of Share Stapled Units | 4,995,834 | (2,266,735) | 2,729,099 | - For the six months ended June 30, 2025, the weighted average fair value of PCCW Shares and Share Stapled Units granted was **HK$5.08 per share** and **HK$11.10 per unit**, respectively[110](index=110&type=chunk) [12. Commitments](index=39&type=section&id=12.%20Commitments) The Group's commitments primarily relate to capital expenditure for property, plant and equipment, and the purchase of television content rights Commitments (HK$ million) | Item | Dec 31, 2024 (Audited) | June 30, 2025 (Unaudited) | | :--- | :--- | :--- | | Capital commitments authorized and contracted for | 1,863 | 1,806 | | Purchase of broadcasting rights for certain television content | 1,616 | 1,287 | | Operating expenditure commitments | 961 | 445 | | **Total** | **4,440** | **3,538** | - Capital commitments include amounts for the acquisition of property, plant and equipment of **HK$1.619 billion** (December 31, 2024) and **HK$1.673 billion** (June 30, 2025)[111](index=111&type=chunk) - Additions to property, plant and equipment for the six months ended June 30, 2025 amounted to **HK$1.106 billion**[112](index=112&type=chunk) [13. Contingent Liabilities](index=39&type=section&id=13.%20Contingent%20Liabilities) The Group's contingent liabilities primarily consist of performance guarantees and a partial guarantee for a credit facility to an associate Contingent Liabilities (HK$ million) | Item | Dec 31, 2024 (Audited) | June 30, 2025 (Unaudited) | | :--- | :--- | :--- | | Performance guarantees | 1,227 | 1,119 | | Others | 25 | 24 | | **Total** | **1,252** | **1,143** | - The Group has provided a partial guarantee for a **HK$780 million** credit facility granted to an associate, with its share of the drawn amount being approximately **HK$235 million**[114](index=114&type=chunk) [14. Related Party Transactions](index=40&type=section&id=14.%20Related%20Party%20Transactions) The Group engaged in significant transactions with related parties, including joint ventures, associates, and a substantial shareholder H1 2025 Summary of Related Party Transactions (HK$ million) | Transaction Type | 2024 (Unaudited) | 2025 (Unaudited) | | :--- | :--- | :--- | | Service fees received/receivable from joint ventures | 24 | 23 | | Service fees received/receivable from associates | 59 | 39 | | Service fees received/receivable from a substantial shareholder | 84 | 80 | | Service fees paid/payable to joint ventures | 147 | 130 | | Service fees paid/payable to associates | 681 | 534 | | Service fees paid/payable to a substantial shareholder | 82 | 98 | | Key management compensation | 54 | 55 | - All related party transactions were negotiated in the ordinary course of business and based on estimated market values as determined by the directors[115](index=115&type=chunk) [15. Financial Instruments](index=41&type=section&id=15.%20Financial%20Instruments) The Group manages credit, liquidity, and market risks through its financial management policies, measuring financial instruments by fair value hierarchy - The Group controls credit, liquidity, and market risks through its financial management policies and practices and does not engage in speculative derivative transactions[117](index=117&type=chunk) Fair Value Measurement of Financial Instruments as at June 30, 2025 (HK$ million) | Item | Level 1 | Level 2 | Level 3 | Total | | :--- | :--- | :--- | :--- | :--- | | **Assets** | | | | | | Financial assets at FVTOCI (non-current) | 577 | – | 58 | 635 | | Financial assets at FVTPL (non-current) | 228 | – | 3,258 | 3,486 | | Derivative financial instruments (non-current) | – | 146 | – | 146 | | Derivative financial instruments (current) | – | 7 | – | 7 | | **Total assets** | **805** | **153** | **3,316** | **4,274** | | **Liabilities** | | | | | | Derivative financial instruments (current) | – | (33) | – | (33) | | Derivative financial instruments (non-current) | – | (1,091) | – | (1,091) | | **Total liabilities** | **–** | **(1,124)** | **–** | **(1,124)** | - Unlisted securities are classified under Level 3, with their fair value determined using valuation techniques such as recent arm's length transactions and discounted cash flow analysis[121](index=121&type=chunk)[123](index=123&type=chunk) [16. Changes in Interests in Subsidiaries without a Change of Control](index=45&type=section&id=16.%20Changes%20in%20Interests%20in%20Subsidiaries%20without%20a%20Change%20of%20Control) The Group's economic interest in Viu International Limited decreased slightly, resulting in an increase in non-controlling interests - For the six months ended June 30, 2025, the Company's economic interest in Viu further decreased from approximately 62.8% as at December 31, 2024 to approximately 62.7%[129](index=129&type=chunk) - This change resulted in an increase in non-controlling interests attributable to Viu of **HK$1 million** for the six months ended June 30, 2025[129](index=129&type=chunk) [17. Business Combination](index=45&type=section&id=17.%20Business%20Combination) The Group completed the acquisition of Clermont Media Limited to expand its business in finance, economics, and lifestyle content - On February 4, 2025, the Group completed the acquisition of Clermont Media Limited and its subsidiaries for a total consideration of **HK$70 million**[130](index=130&type=chunk) - The acquisition aims to expand the Group's business in finance, economics, investment, lifestyle, and education to grow advertising and subscription revenue[130](index=130&type=chunk) - Goodwill of **HK$29 million** was recognized on the date of acquisition[130](index=130&type=chunk) [General Information](index=46&type=section&id=General%20Information) [Interests and Short Positions of Directors and Chief Executive in Shares, Share Stapled Units, Underlying Shares, Underlying Share Stapled Units and Debentures of the Company and its Associated Corporations](index=46&type=section&id=Interests%20and%20Short%20Positions%20of%20Directors%20and%20Chief%20Executive%20in%20Shares%2C%20Share%20Stapled%20Units%2C%20Underlying%20Shares%2C%20Underlying%20Share%20Stapled%20Units%20and%20Debentures%20of%20the%20Company%20and%20its%20Associated%20Corporations) This section details the shareholdings of the Chairman and Acting Group Managing Director in the Company and its associated corporations Directors' and Chief Executive's Long Positions in Shares of the Company (as at June 30, 2025) | Name | Personal Interests | Family Interests | Corporate Interests | Other Interests | Total | Approx % of Total Issued Shares | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Richard Li | – | – | 535,291,134 | 1,928,842,224 | 2,464,133,358 | 31.83% | | Susanna Hui | 8,435,883 | – | – | 4,652,529 | 13,088,412 | 0.17% | | Tse Sze Wing | – | 367,479 | – | – | 367,479 | 0.005% | Directors' and Chief Executive's Long Positions in Share Stapled Units of HKT Trust and HKT Limited (as at June 30, 2025) | Name | Personal Interests | Family Interests | Corporate Interests | Other Interests | Total | Approx % of Total Issued Units | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Richard Li | – | – | 67,655,964 | 152,802,281 | 220,458,245 | 2.91% | | Susanna Hui | 4,133,441 | – | – | 2,024,571 | 6,158,012 | 0.08% | | Tse Sze Wing | – | 246,028 | – | – | 246,028 | 0.003% | Directors' and Chief Executive's Long Positions in Shares of Pacific Century Premium Developments Limited (as at June 30, 2025) | Name | Personal Interests | Family Interests | Corporate Interests | Other Interests | Total | Approx % of Total Issued PCPD Shares | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Richard Li | – | – | 207,267,814 | 402,164,972 | 609,432,786 | 29.90% | | Tse Sze Wing | – | 59,531 | – | – | 59,531 | 0.003% | [Share Schemes of the Company and its Subsidiaries](index=49&type=section&id=Share%20Schemes%20of%20the%20Company%20and%20its%20Subsidiaries) The Company and HKT operate various share and share stapled unit option and award schemes for their employees - The Company has the 2024 Share Option Scheme, 2024 Share Award Scheme, and 2012 Share Award Scheme, while HKT has its own Share Stapled Unit Option and Award Schemes[144](index=144&type=chunk)[147](index=147&type=chunk)[154](index=154&type=chunk)[156](index=156&type=chunk) PCCW Share Award Schemes Unvested Shares (as at June 30, 2025) | Scheme | Unvested at Jan 1, 2025 | Unvested at June 30, 2025 | | :--- | :--- | :--- | | PCCW Subscription Scheme | 6,122,915 | 2,366,623 | | 2024 Share Award Scheme | 78,667 | 6,488,686 | HKT Share Stapled Unit Award Schemes Unvested Units (as at June 30, 2025) | Scheme | Unvested at Jan 1, 2025 | Unvested at June 30, 2025 | | :--- | :--- | :--- | | HKT Share Stapled Unit Subscription Scheme | 1,812,671 | 636,966 | | HKT 2024 Share Stapled Unit Award Scheme | 34,395 | 2,656,065 | - During the six months ended June 30, 2025, options and awards for a total of **6,634,742 Shares** were granted under all share schemes involving new share issuance, representing approximately **0.09%** of the weighted average number of issued shares[153](index=153&type=chunk) - During the six months ended June 30, 2025, options and awards for a total of **2,630,211 Share Stapled Units** were granted under all unit schemes involving new unit issuance, representing approximately **0.03%** of the weighted average number of issued units[167](index=167&type=chunk) [Substantial Shareholders' Interests and Short Positions](index=55&type=section&id=Substantial%20Shareholders'%20Interests%20and%20Short%20Positions) The Company's substantial shareholders include PCG Holdings and China Unicom Group as of the reporting date Substantial Shareholders' Long Positions in Shares (as at June 30, 2025) | Shareholder Name | Number of Shares/Underlying Shares Held | Approx % of Total Issued Shares | | :--- | :--- | :--- | | Pacific Century Group | 1,753,529,954 | 22.65% | | PCG Holdings | 1,928,842,224 | 24.92% | | Star Ocean Ultimate Limited | 1,928,842,224 | 24.92% | | The Ocean Trust | 1,928,842,224 | 24.92% | | The Starlite Trust | 1,928,842,224 | 24.92% | | OS Holdings Limited | 1,928,842,224 | 24.92% | | Ocean Star Management Limited | 1,928,842,224 | 24.92% | | The Ocean Unit Trust | 1,928,842,224 | 24.92% | | The Starlite Unit Trust | 1,928,842,224 | 24.92% | | Star Ocean Ultimate Holdings Limited | 1,928,842,224 | 24.92% | | Fung Wai Ling | 1,928,842,224 | 24.92% | | Wong Ka Chun | 1,928,842,224 | 24.92% | | China United Network Communications Group Company Limited | 1,424,935,885 | 18.41% | - PCG Holdings' interest includes its beneficial interest in 175,312,270 Shares and its interest in 1,753,529,954 Shares held by Pacific Century Group, its controlled corporation[169](index=169&type=chunk) - China Unicom indirectly holds its interests through its wholly-owned subsidiary, China Unicom Group Corporation (BVI) Limited[170](index=170&type=chunk) [Other Persons' Interests and Short Positions Discloseable under the SFO](index=56&type=section&id=Other%20Persons'%20Interests%20and%20Short%20Positions%20Discloseable%20under%20the%20SFO) Ocean Star Investment Management Limited held a significant long position in the Company's shares as of the reporting date Other Persons' Long Positions in Shares (as at June 30, 2025) | Name | Number of Shares/Underlying Shares Held | Approx % of Total Issued Shares | | :--- | :--- | :--- | | Ocean Star Investment Management Limited | 1,928,842,224 | 24.92% | - Ocean Star Investment Management Limited is deemed to be interested in these shares in its capacity as the investment manager of The Ocean Unit Trust and The Starlite Unit Trust[172](index=172&type=chunk) [Purchase, Sale or Redemption of Listed Securities](index=56&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20Listed%20Securities) Neither the Company nor its subsidiaries engaged in any purchase, sale, or redemption of the Company's listed securities during the period - During the six months ended June 30, 2025, neither the Company nor any of its subsidiaries purchased, sold or redeemed any of the Company's listed securities[173](index=173&type=chunk) [Audit Committee](index=56&type=section&id=Audit%20Committee) The Audit Committee has reviewed the Group's accounting policies and the unaudited interim financial information for H1 2025 - The Company's Audit Committee has reviewed the accounting policies adopted by the Group and the unaudited condensed consolidated interim financial information of the Group for the six months ended June 30, 2025[174](index=174&type=chunk) - The condensed consolidated interim financial information is unaudited, but has been reviewed by the Company's independent auditor[174](index=174&type=chunk) [Model Code in Appendix C3 to the Listing Rules](index=56&type=section&id=Model%20Code%20in%20Appendix%20C3%20to%20the%20Listing%20Rules) The Company has adopted a securities dealing code on terms no less exacting than the required standard, with which all directors have complied - The Company has adopted its own code for securities transactions by all directors and employees, the PCCW Code for Securities Transactions, on terms no less exacting than the required standard set out in the Model Code in Appendix C3 to the Listing Rules[175](index=175&type=chunk) - Following specific enquiry of all directors of the Company, the Company has received from each of them confirmation of compliance with the required standard set out in the Model Code and the PCCW Code throughout the period[176](index=176&type=chunk) [Corporate Governance Code](index=56&type=section&id=Corporate%20Governance%20Code) The Company is committed to high standards of corporate governance and has complied with all applicable code provisions - The Company is committed to maintaining a high standard of corporate governance, with principles emphasizing a rigorous ethical, transparent, responsible, and honest corporate culture[177](index=177&type=chunk) - During the six months ended June 30, 2025, the Company has applied the principles of and complied with all applicable code provisions of the Corporate Governance Code contained in Appendix C1 to the Listing Rules[178](index=178&type=chunk) - The directors have received a report from management on the risk management and internal control systems and found no material risks or internal control deficiencies[178](index=178&type=chunk) [Investor Relations](index=57&type=section&id=Investor%20Relations) [Directors](index=57&type=section&id=Directors) This section lists the members of the Board of Directors as of the date of the interim results announcement - Executive Directors include Richard Li (Chairman) and Susanna Hui (Acting Group Managing Director & Group CFO)[179](index=179&type=chunk) - Non-Executive Directors include Tse Sze Wing, Tang Yongbo (Deputy Chairman), Meng Shusen, Zhao Xingfu, and David Wei[179](index=179&type=chunk) - Independent Non-Executive Directors include Aman Mehta, Jennifer Wong How Yue, Bryce Wayne Lee, Lars Eric Nils Rodert, David Christopher Chance, and Sharhan Mohamed Muhseen Mohamed[179](index=179&type=chunk) [Registered Office](index=57&type=section&id=Registered%20Office) The Company's registered office is located at 41/F, PCCW Tower, Taikoo Place, 979 King's Road, Quarry Bay, Hong Kong - The registered office is located at 41/F, PCCW Tower, Taikoo Place, 979 King's Road, Quarry Bay, Hong Kong[179](index=179&type=chunk) [2025 Interim Report](index=57&type=section&id=2025%20Interim%20Report) The 2025 Interim Report is available in print and electronic formats, with options for shareholders to choose their preferred version - Printed copies of the 2025 Interim Report in both English and Chinese are available from the Company and its Share Registrar[179](index=179&type=chunk) - The report is also available in accessible format on the Company's website (www.pccw.com/ir) and the HKEXnews website (www.hkexnews.hk)[179](index=179&type=chunk) - Shareholders may at any time change their choice of language and/or means of receipt of the Company's future corporate communications by giving reasonable prior notice in writing or by email to the Company's Share Registrar[180](index=180&type=chunk) [Listing](index=57&type=section&id=Listing) PCCW's shares are listed in Hong Kong and traded as ADRs in the US, with certain subsidiary-issued notes also listed - The Company's shares are listed on The Stock Exchange of Hong Kong Limited and traded in the form of American Depositary Receipts (ADRs) on the OTC Markets Group Inc in the United States (Ticker: PCCWY)[181](index=181&type=chunk) - Certain guaranteed notes and securities issued by the Company's subsidiaries are listed on the Singapore Exchange Securities Trading Limited and the GreTai Securities Market[181](index=181&type=chunk) [Stock Codes](index=57&type=section&id=Stock%20Codes) This section provides the various stock codes for PCCW across different platforms Stock Codes | Exchange/Platform | Code | | :--- | :--- | | The Stock Exchange of Hong Kong Limited | 0008 | | Reuters | 0008.HK | | Bloomberg | 8 HK | | American Depositary Receipts | PCCWY | [Share Registrar](index=57&type=section&id=Share%20Registrar) The Company's share registrar is Computershare Hong Kong Investor Services Limited - The Share Registrar is Computershare Hong Kong Investor Services Limited, located at Shops 1712–1716, 17/F, Hopewell Centre, 183 Queen's Road East, Wan Chai, Hong Kong[184](index=184&type=chunk) [ADR Depositary](index=57&type=section&id=ADR%20Depositary) The ADR depositary for PCCW is Citibank, N.A. - The ADR Depositary is Citibank, N.A., located at P.O. Box 43077 Providence, Rhode Island 02940-3077, USA[184](index=184&type=chunk) [Share Information](index=57&type=section&id=Share%20Information) This section provides key details about the Company's shares Share Information | Item | Data | | :--- | :--- | | Board Lot | 1,000 Shares | | Shares in issue at June 30, 2025 | 7,741,063,374 Shares | [Dividend](index=57&type=section&id=Dividend) The interim dividend for the first half of 2025 is HK$9.77 cents per ordinary share - The interim dividend per ordinary share for the six months ended June 30, 2025 is HK$9.77 cents[185](index=185&type=chunk) [Financial Calendar](index=57&type=section&id=Financial%20Calendar) This section outlines the key dates for the 2025 interim results and dividend payment Financial Calendar | Event | Date | | :--- | :--- | | Announcement of 2025 interim results | August 1, 2025 | | Closure of register of members (for 2025 interim dividend) | August 19–20, 2025 (both days inclusive) | | Record date for 2025 interim dividend | August 20, 2025 | | Payment of 2025 interim dividend | On or about September 5, 2025 | [Investor Relations Contact](index=57&type=section&id=Investor%20Relations%20Contact) Investors can contact the Investor Relations department via email or visit the company website for more information - Investors can contact PCCW's Investor Relations department via email at ir@pccw.com[187](index=187&type=chunk) - The company website is www.pccw.com[187](index=187&type=chunk)

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年8月31日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 電訊盈科有限公司 | | | 呈交日期: | 2025年9月2日 | | | I. 法定/註冊股本變動 不適用 | | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00008 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 7,741,063,374 | | 0 | | 7,741,063,374 | | 增加 / 減少 (-) | | | 0 | | ...

来源：金融界 资金流向方面，今日主力资金净流出3157.28万元，占比成交额7.92%。其中，超大单净流入356.63万 元、占成交额0.89%，大单净流出3513.91万元、占成交额8.81%，中单净流出流入1305.95万元、占成交 额3.27%，小单净流入1851.33万元、占成交额4.64%。 盐田港最新一期业绩显示，截至2025一季报，公司营业总收入1.71亿元、同比减少14.04%，归属净利润 3.13亿元，同比增长21.63%，扣非净利润3.13亿元，同比增长21.96%，流动比率7.374、速动比率 7.363、资产负债率23.49%。 金融界消息 截至2025年8月25日收盘，盐 田 港（000088）报收于4.62元，上涨0.43%，换手率2.73%， 成交量86.45万手，成交金额3.99亿元。 天眼查商业履历信息显示，深圳市盐田港股份有限公司，成立于1997年，位于深圳市，是一家以从事水 上运输业为主的企业。企业注册资本519948.3346万人民币，实缴资本428572.4351万人民币。公司法定 代表人为李雨田。 通过天眼查大数据分析，深圳市盐田港股份有限公司共对外投资了19家企业 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該 等內容而引致的任何損失承擔任何責任。 PCCW Limited 電訊盈科有限公司 （於香港註冊成立的有限公司） （股份代號：0008） 與聯想進行的持續關連交易 茲提述 2022 年 8 月公告。由於現有持續關連交易協議於 2025 年 8 月 11 日屆滿，本公 司（透過其附屬公司）已就 2025 年延長過渡服務協議達成協議，並於 2025 年 8 月 12 日訂立 2025 年服務協議，以為本集團與聯想集團之間提供相關服務及產品續期，期限 為截至 2028 年 8 月 11 日止三年。 聯想為電訊盈科網絡服務（本公司的附屬公司）的主要股東，故根據《上市規則》為 本公司附屬公司層面的關連人士。因此，聯想集團若干成員公司與本集團若干成員公 司於 2025年延長過渡服務協議及 2025年服務協議項下擬進行的交易構成本公司的持續 關連交易。 由於 2025年延長過渡服務協議及 2025年服務協議項下擬進行的交易為本集團若干成員 公司與本公司附屬 ...

天眼查商业履历信息显示，深圳市盐田港股份有限公司，成立于1997年，位于深圳市，是一家以从事水 上运输业为主的企业。企业注册资本519948.3346万人民币，实缴资本428572.4351万人民币。公司法定 代表人为李雨田。 通过天眼查大数据分析，深圳市盐田港股份有限公司共对外投资了19家企业，参与招投标项目272次， 此外企业还拥有行政许可13个。 来源：金融界 金融界消息 截至2025年8月12日收盘，盐 田 港（000088）报收于4.61元，上涨0.22%，换手率1.23%， 成交量38.81万手，成交金额1.79亿元。 资金流向方面，今日主力资金净流出2432.07万元，占比成交额13.62%。其中，超大单净流出5198.63万 元、占成交额29.11%，大单净流入2766.56万元、占成交额15.49%，中单净流出流入1799.41万元、占成 交额10.08%，小单净流入632.66万元、占成交额3.54%。 盐田港最新一期业绩显示，截至2025一季报，公司营业总收入1.71亿元、同比减少14.04%，归属净利润 3.13亿元，同比增长21.63%，扣非净利润3.13亿元，同比增长21.96%， ...