Financial Performance - Operating revenue for the first three quarters of 2024 reached RMB 394.718 billion, a year-on-year increase of 2.7%, with service revenue at RMB 362.886 billion, up 3.8%[2][6] - EBITDA for the first three quarters of 2024 was RMB 111.023 billion, a year-on-year increase of 5.1%, with an EBITDA margin of 30.6%[2][6] - Net profit attributable to shareholders for the first three quarters of 2024 was RMB 29.299 billion, a year-on-year increase of 8.1%[2][6] - Operating income for the first nine months of 2024 was RMB 394.718 billion, compared to RMB 384.254 billion in the same period last year[11] - Net profit for the period reached RMB 29.340 billion, up from RMB 27.143 billion in 2023[11] - Pre-tax profit increased to RMB 37,712 million in the first 9 months of 2024, up from RMB 35,014 million in the same period of 2023[15] - Basic earnings per share (EPS) for the first nine months of 2024 were RMB 0.32, compared to RMB 0.30 in the same period last year[12] Mobile and Fixed-Line Services - Mobile service revenue for the first three quarters of 2024 reached RMB 156.823 billion, a year-on-year increase of 3.2%, with mobile users increasing by 14.9 million to 422.67 million[7] - 5G package users increased by 26.4 million to 345.06 million, with a penetration rate of 81.6%[7] - Fixed-line and smart home service revenue for the first three quarters of 2024 reached RMB 95.624 billion, a year-on-year increase of 2.9%, with broadband users reaching 196.26 million[7] Industrial Digitalization - Industrial digitalization revenue for the first three quarters of 2024 reached RMB 105.549 billion, a year-on-year increase of 5.8%[7] Assets and Liabilities - Total assets as of September 30, 2024, were RMB 865.468 billion, a year-on-year increase of 3.5%[4] - Equity attributable to shareholders as of September 30, 2024, was RMB 448.451 billion, a year-on-year increase of 1.2%[4] - Total assets as of September 30, 2024, amounted to RMB 865.468 billion, with non-current assets totaling RMB 669.486 billion and current assets at RMB 195.982 billion[9][10] - Total liabilities stood at RMB 412.714 billion, with current liabilities at RMB 331.081 billion and non-current liabilities at RMB 81.633 billion[10] Operating Expenses and Costs - Operating expenses for the first three quarters of 2024 reached RMB 358.334 billion, a 2.3% increase year-over-year, with network operation and support costs rising to RMB 118.457 billion, up 3.5%[8] - Labor costs increased to RMB 75.438 billion, a 2.3% growth compared to the same period last year, driven by increased investment in tech and innovative talent[8] - Depreciation and amortization expenses rose to RMB 74,639 million in the first 9 months of 2024, compared to RMB 71,811 million in the same period of 2023[15] Cash Flow and Capital Expenditure - Operating cash flow decreased to RMB 97,316 million in the first 9 months of 2024, down from RMB 112,330 million in the same period of 2023[13] - Capital expenditure was RMB 58,238 million in the first 9 months of 2024, slightly lower than RMB 60,564 million in the same period of 2023[13] - Net cash used in investing activities increased to RMB 68,913 million in the first 9 months of 2024, up from RMB 61,612 million in the same period of 2023[13] - Net cash used in financing activities decreased to RMB 36,080 million in the first 9 months of 2024, down from RMB 40,791 million in the same period of 2023[13] - Cash and cash equivalents decreased to RMB 73,338 million as of September 30, 2024, compared to RMB 82,445 million at the end of the same period in 2023[13] Financial Costs and Receivables - Net financial costs decreased by 12.2% to RMB 518 million, primarily due to reduced interest expenses on lease liabilities[8] - Accounts receivable increased by RMB 33,302 million in the first 9 months of 2024, compared to an increase of RMB 32,166 million in the same period of 2023[15] - Contract liabilities decreased by RMB 7,395 million in the first 9 months of 2024[15] Cautionary Note - The company's financial data is unaudited and investors should exercise caution when relying on these figures[16]

� 中国电信 中國電信股份有限公司 香港交易所股份代碼：728 前望。 f ' ' ' ' ' tel 二零二四年中期報告 目 錄 037 046 051 054 002 重要提示 第一節 釋義 003 005 第二節 公司簡介 006 第三節 管理層討論與分析 030 第四節 公司治理報告 035 第五節 環境與社會責任 第六節 重要事項 第七節 股份變動及股東情況 042 第八節 中期財務資料 046 簡明合併財務狀況表（未經審核） 簡明合併綜合收益表（未經審核） 048 050 簡明合併權益變動表（未經審核） 簡明合併現金流量表（未經審核） 未經審核簡明合併中期財務資料附註 重要提示 002 中國電信股份有限公司 二零二四年中期報告 一、本公司按照國際會計準則第34號編製截至 變，相應調整每股分配比例。 本次利潤分配方案已由2023年年度股東大會授 權董事會決定，並由公司第八屆董事會第十三 次會議於2024年8月20日審議通過。 三、前瞻性陳述的風險聲明 | --- | --- | |------------------------------------------------|----------- ...

中国电信（0728） 更新报告 服务收入增长超预期，移动 ARPU 稳健增长 罗凡环 服务收入增长超预期，派息比例持续提升：2024H1 公司实现收入 2680 亿 元人民币（YoY+2.8%），其中服务收入为 2462 亿元（YoY+4.3%）,持续保 持高于中国通信行业增幅水平，服务收入增长超预期。EBITDA 为 768 亿元 （YoY+4.7%）,净利润 218 亿元（YoY+8.2%）,利润增长符合预期。上半年 资本开支 472 亿元，全年资本开支占收比降至 20%以内，预计 960 亿左 右。公司高度重视股东回报，继续派发中期股息，派息比例为 70%，即每 股人民币 0.1671 元（YoY+16.7%）, 从 2024 年起，三年内公司以现金方式 分配的利润将逐步提升至当年股东应占利润的 75%以上，持续为股东创造 更大价值。 852-2532 1539 Simon.luo@firstshanghai.com.hk 李宜格 852-25321962 vicky.li@firstshanghai.com.hk 李京霖 移动和综合宽带 ARPU 稳健增长：移动业务方面，上半年公司移动通信服务 收入 ...

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 份 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。 China Telecom Corporation Limited 中国电信股份有限公司 （於 中 華 人 民 共 和 國 註 冊 成 立 之 股 份 有 限 公 司） （股 份 編 號：728） 截 至2024年6月30日止之中期業績公佈 要 點 — 公司經營收入為人民幣2,680億 元，同 比 增 長2.8%，其 中 服 務 收 入 為 人 民 幣2,462億 元，同 比 增 長4.3%，持 續 高 於 行 業 增 幅 — EBITDA為人民幣768億 元，同 比 增 長4.7%。淨 利 潤 為 人 民 幣218億 元，同 比增長8.2%，每 股 基 本 淨 利 潤 為 人 民 幣0.24元 — 公 司 基 礎 業 務 ...

h 股 c r a 票 e s e 研 R y 究 tiu q [ FT la ab sle h_T Nitl oe] t e: China Telecom (00728 HK) 中文版 Gin Yu 余劲同 E (852)2509 2113 快讯： 中国电信 (00728 HK) Chinese version gin.yu@gtjas.com.hk 24 April 2024 2[T0ab2le4_年Sum第ma一ry]季度盈利稳定增长；高质量发展持续推进  我们维持中国电信（“公司”）的目标价为 5.00 港元，维持投资评级为“买入”。考虑到其盈利及派息的稳步 e 提升，以及云业务快速发展带来的机遇，我们维持公司目标价为5.00港元，维持投资评级为“买入”。目标价对 快 to N 应12.7倍/ 11.7倍/ 10.8倍2024-2026年市盈率。相应的2024-2026财年股息率为5.7%/ 6.3%/ 7.0%。 讯 h s a lF  中国电信的盈利稳步增长。2024年第一季度，公司的服务收入和净利润分别为人民币1,243.47亿元（同比增长 5.0%）和人民币85.97亿元（同比增长7.7% ...

Dividend Policy and Distribution - The company's 2023 annual dividend is RMB 0.2332 per share (including tax), totaling approximately RMB 21.339 billion, exceeding 70% of the net profit attributable to shareholders for the year[5] - The company plans to increase cash dividends to over 75% of the net profit attributable to shareholders from 2024 onwards for the next three years[5] - The company's total share capital at the end of 2023 is 91,507,138,699 shares, with a proposed final dividend of RMB 0.090 per share (including tax), totaling approximately RMB 8.236 billion[5] - The company's mid-year dividend for 2023 was RMB 0.1432 per share (including tax)[5] - Total dividends for 2023 were RMB 0.2332 per share, a 19.0% increase year-on-year, exceeding 70% of the company's net profit[17] - The dividend payout ratio for 2023 is 70.1% of the net profit attributable to shareholders[193] - The company's total cash dividend for 2023, including interim and final dividends, amounts to RMB 21.34 billion[193] - The final dividend for 2023 is expected to be paid on or before July 26, 2024, after approval at the 2023 annual general meeting[100] Financial Performance - Total operating revenue reached RMB 513.6 billion, a year-on-year increase of 6.7%, with service revenue at RMB 465 billion, up 6.9%[17] - Net profit increased by 10.3% to RMB 30.4 billion, with basic earnings per share at RMB 0.33[17] - Capital expenditure was RMB 98.8 billion, and free cash flow reached RMB 13 billion[17] - The company's operating income for 2023 was RMB 5,135.51 billion, a year-on-year increase of 6.9%[62] - The company's net profit attributable to shareholders was RMB 304.46 billion, a year-on-year increase of 10.3%[62] - The company's EBITDA was RMB 1,368.30 billion, a year-on-year increase of 5.0%, with an EBITDA margin of 29.4%[62] - Operating revenue in 2023 reached RMB 513.551 billion, a 6.7% increase compared to 2022[64][66] - Service revenue in 2023 was RMB 464.965 billion, up 6.9% year-over-year, with mobile communication service revenue at RMB 195.66 billion, a 2.4% increase[64][66][67] - Industrial digitalization service revenue grew significantly by 17.9% to RMB 138.89 billion in 2023[66][67] - Fixed-line and smart home service revenue increased by 3.8% to RMB 123.063 billion in 2023[66][68] - Other service revenue declined by 3.4% to RMB 7.352 billion in 2023[66][69] - Operating expenses in 2023 totaled RMB 476.423 billion, a 6.3% increase compared to 2022, accounting for 92.8% of operating revenue[70][71] - Depreciation and amortization expenses rose by 2.9% to RMB 99.702 billion in 2023[71][72] - Network operation and support costs increased by 8.7% to RMB 160.411 billion in 2023[71][73] - Labor costs grew by 9.5% to RMB 92.805 billion in 2023, reflecting increased investment in tech and innovative talent[71][74] - Net profit attributable to shareholders increased by 10.3% to RMB 30.446 billion in 2023[78] - Capital expenditure for 2023 was RMB 98.838 billion, an increase of 6.8% compared to 2022, driven by investments in 5G network construction, cloud-network integration, and AI computing capabilities[79] - Net cash generated from operating activities in 2023 was RMB 137.508 billion, a year-on-year increase of 0.8%[80][81] - Total assets increased by 3.5% to RMB 835.814 billion at the end of 2023, while total liabilities increased by 4.7% to RMB 388.647 billion, resulting in a debt-to-asset ratio of 46.5%[82] - Total debt decreased by RMB 1.342 billion to RMB 91.42 billion at the end of 2023, with 97.3% of the debt denominated in RMB[84] - The company's actual tax rate in 2023 was 22.4%, lower than the statutory rate of 25.0%, due to tax incentives such as tax-exempt investment income from China Tower and R&D expense deductions[79] - Cash and cash equivalents at the end of 2023 were RMB 81.046 billion, with RMB cash and equivalents accounting for 93.6%[81] - The company's operating capital shortage decreased by RMB 5.092 billion to RMB 135.573 billion at the end of 2023, with unused credit lines of RMB 205.452 billion[83] Business Operations and Market Development - The company's main business includes fixed, mobile, and satellite communication services, as well as internet access and information services[2] - The company's A-shares and H-shares are listed on the Shanghai Stock Exchange and the Hong Kong Stock Exchange, respectively[2] - The company achieved breakthroughs in technological innovation and completed the layout of strategic emerging businesses, with digital information infrastructure continuously upgraded and new quality productivity rapidly forming[16] - The company actively served and integrated into the new development pattern, seizing market development opportunities in the process of promoting Chinese-style modernization[16] - The company implemented the cloud reform and digital transformation strategy comprehensively, leveraging the advantages of cloud-network integration[16] - The company focused on building a service-oriented, technology-oriented, and security-oriented enterprise, with continuous improvements in governance capabilities and levels[16] - The company's market development momentum grew rapidly, and enterprise reforms were pushed forward in depth[16] - Mobile communication service revenue grew by 2.4% to RMB 195.7 billion, with mobile user ARPU at RMB 45.4, up 0.4%[21] - Fixed-line and smart home service revenue increased by 3.8% to RMB 123.1 billion, with smart home business revenue up 12.8% to RMB 19 billion[21] - Mobile user base grew by 16.59 million, reaching 408 million, maintaining industry leadership for six consecutive years[21] - Broadband user base increased by 9.26 million, reaching 190 million, with broadband ARPU at RMB 47.6, up 2.8%[21] - The company's industrial digital business revenue reached RMB 138.9 billion, a year-on-year increase of 17.9%, accounting for 29.9% of service revenue, an increase of 2.8 percentage points compared to the previous year[23] - The number of enterprise customers increased by 11.3% year-on-year, and the number of new 5G industry application projects increased by 106.3%, with a cumulative total of over 31,000 projects[23] - The number of IoT terminal users exceeded 520 million, and the user scale of applications such as Smart Kitchen and Tianyi Emergency exceeded 77 million[23] - Tianyi Cloud revenue reached RMB 97.2 billion, a year-on-year increase of 67.9%, and international business revenue exceeded RMB 13.7 billion[23] - The company's cloud computer user development volume increased by more than 2 times year-on-year, maintaining a nearly 40% share in the Chinese DaaS market[25] - The company's big data API was called 4.6 billion times annually, a year-on-year increase of 45%, and it has formed over 50 "Star Ocean Big Data" products[26] - The company has launched 12 industry-specific large models and has empowered over 600 projects in scenarios such as grassroots governance and smart cities[26] - The company's cloud-based anti-DDoS service (Cloud Dike) maintains the top market share in China and is listed in Gartner's global top service provider selection list[26] - The company has completed the acquisition of QuantumCTek Co., Ltd., enhancing technological and application innovation breakthroughs in the quantum field[28] - The company has launched the world's first commercial service supporting consumer-grade 5G terminal direct satellite two-way voice and SMS, providing emergency and guaranteed communication for industries such as maritime, industrial, and rescue[29] - The company has developed over 110 digital platforms, empowering digital transformation in government, enterprise, education, healthcare, and finance sectors. These platforms have been deployed in more than 20 provinces and 220 cities, providing comprehensive applications such as one-stop government services and urban management[30] - The company's intelligent computing capacity increased by 8.1 EFLOPS in 2023, reaching a total of 11.0 EFLOPS, a growth of 279.3%. Additionally, the general computing capacity increased by 1.0 EFLOPS, reaching 4.1 EFLOPS, a growth of 32.3%[31] - The company and China Unicom have saved over RMB 340 billion in cumulative investment and over RMB 39 billion in annual operating costs through network co-construction and sharing. They have built over 220,000 new 5G base stations, with a total of over 1.21 million 5G base stations in operation[32] - The company has built 250,000 800MHz base stations capable of 4G/5G integrated services by January 2024, significantly improving network coverage and user experience in rural areas[33] - The company's online development ratio for basic business users increased by 11.5 percentage points year-on-year, and the proportion of AI customer service increased by 12.6 percentage points. AI-powered energy-saving measures in data centers and base stations saved approximately 800 million kWh annually[33] - The company has expanded its global cloud network broadband industry association (WBBA) to 77 member units, covering 32 countries across five continents, and released the WBBA Global Cloud Network Broadband Industry Development Report and the Global Cloud Network Development Index[34] - The company has established 53 overseas branches, serving global demand for communication, internet, cloud computing, and digital transformation[35] - The international transmission network backbone scale is nearly 115Tbps, with over 50% directed towards the "Belt and Road" regions[35] - The company has over 6,000 racks in nearly 30 overseas data centers[35] - The company added 15 new global CDN nodes for its Tianyi Cloud service in 2023[35] - The company reduced greenhouse gas emissions by over 13 million tons through energy-saving measures, with a 19.6% year-on-year decrease in greenhouse gas emissions per unit of telecom business volume[37] - The company used over 1.1 billion kWh of green electricity in 2023, a nearly threefold increase year-on-year[37] - The company signed over 3,000 projects for green and low-carbon products and solutions, serving industries such as government, industrial manufacturing, and construction[37] - The company's digital services have achieved a penetration rate of over 60% in administrative villages, contributing to rural digitalization[38] - The company was recognized as "Asia's Most Admired Company" for the 13th consecutive year in the 2023 Institutional Investor survey[39] - The company aims to deepen its cloud-network transformation, focusing on AI development and meeting digital demands across industries with "network + cloud + AI + applications"[40] - Telecom business revenue reached RMB 1.68 trillion, a year-on-year increase of 6.2%[41] - 5G mobile phone users reached 805 million, accounting for nearly half of total mobile phone users[41] - Fixed broadband access users reached 636 million, with 163 million users having access speeds of 1000Mbps or higher[41] - Mobile internet user access traffic reached 301.5 billion GB, a year-on-year increase of 15.2%[42] - Monthly average data usage per user (DOU) reached 16.85GB, a year-on-year increase of 10.9%[42] - 5G application cases exceeded 94,000, covering 71 out of 97 major national economic categories[42] - Cellular IoT terminal users reached 2.332 billion, accounting for nearly 60% of total mobile network terminal connections[41] - The company is accelerating the deployment of AI infrastructure and transitioning to an "AI+" strategy[41] - The company is actively promoting the integration of cloud, network, and intelligence, and building a full optical base for computing power networks[41] - The company is focusing on compliance with new laws and regulations, including the revised Company Law and the Generative AI Service Management Interim Measures[43][44] - Mobile user base reached 408 million, with a net increase of 16.59 million, maintaining industry leadership for six consecutive years[46] - Mobile user ARPU increased to RMB 45.4, up 0.4% year-over-year[46] - Broadband user base reached 190 million, with a net increase of 9.26 million[46] - Broadband comprehensive ARPU increased to RMB 47.6, up 2.8% year-over-year[46] - Industrial digitalization revenue reached RMB 138.9 billion, up 17.9% year-over-year, accounting for 29.9% of service revenue[46] - Tianyi Cloud revenue reached RMB 97.2 billion, up 67.9% year-over-year[46] - Number of 5G base stations exceeded 1.21 million, achieving continuous coverage in towns and above and effective coverage in developed villages[48] - Greenhouse gas emissions reduced by over 13 million tons through co-construction and sharing and energy-saving measures[49] - Green electricity usage exceeded 1.1 billion kWh, up nearly 3 times year-over-year[49] - AIoT platform users exceeded 520 million, with a year-over-year growth of 45% in API calls[51] - The company's operating revenue in 2023 reached RMB 513.6 billion, a year-on-year increase of 6.7%, with service revenue at RMB 465 billion, up 6.9% year-on-year[56] - Mobile communication service revenue in 2023 was RMB 195.7 billion, a year-on-year increase of 2.4%, with mobile value-added and application revenue at RMB 25.8 billion, up 12.4% year-on-year[56] - The company's mobile user base increased by 16.59 million, reaching 408 million users, with mobile user ARPU at RMB 45.4, a year-on-year increase of 0.4%[57] - Fixed-line and smart home service revenue in 2023 was RMB 123.1 billion, a year-on-year increase of 3.8%, with smart home business revenue at RMB 19 billion, up 12.8% year-on-year[57] - Broadband user base increased by 9.26 million, reaching 190 million users, with broadband comprehensive ARPU at RMB 47.6, a year-on-year increase of 2.8%[57] - The company's quantum computing cloud platform "Tianyan" achieved ultra-quantum fusion, and it was the first globally to enable consumer mobile phones to directly connect to satellites for two-way voice calls and SMS services[53] - The company's data security posture awareness system improved accuracy to 98%, and it built a full-scale user anti-fraud risk model, achieving daily risk assessment for 470 million users[55] - The company's distributed cloud operating system TeleCloudOS 4.0 won the first prize of the 2023 China Communications Society Science and Technology Award[53] - The company's cloud computing and intelligent computing capabilities continued to upgrade, with the self-developed cloud operating system TeleCloudOS 4.0 forming a technological leadership[57] - The company's industry-leading quantum secure communication metropolitan area network was established, and it introduced communication/bank blacklist data, enabling minute-level shutdown of newly inserted cards on involved terminals[55] - Tianti Cloud revenue reached RMB 97.2 billion, a year-on-year increase of 67.9%[58] - Tianti Cloud maintained its leading position in the domestic public cloud IaaS and IaaS+PaaS markets, with its market share continuing to rise[58] - The number of new 5G industry application projects increased by 106.3% year-on-year, with a cumulative total of over 31,000 projects[60] - The company's digital business revenue reached RMB 1,389 billion, a year-on-year increase of 17.9%, accounting for 29.9% of service revenue[60] - The company's operating income for 2023 was RMB 5,135.51 billion, a year-on-year increase of 6.9%[62] - The company's net profit attributable to shareholders was RMB 304.46 billion, a year-on-year increase of 10.3%[62] - The company's EBITDA was RMB 1,368.30 billion, a year-on-year increase of 5.0%, with an EBITDA margin of 29.4%[62] - The company's cloud computer user base grew by more than 2 times year-on-year, maintaining a nearly 40% share in the Chinese DaaS market[58] - The company launched the "Xingchen MaaS Platform," which has empowered over 600 projects in various industries[58] - The company's AI intelligent customer service accounted for a 12.6% year-on-year increase in service volume[63] - Operating revenue in 2023 reached RMB 513.551 billion, a 6.7% increase compared to 2022[64][66] - Service revenue in 2023 was RMB 464.965 billion, up 6.9% year-over-year, with mobile communication service revenue at RMB 195.66 billion, a 2.4% increase[64][66][67] - Industrial digitalization service revenue grew significantly by 17.9% to RMB 138.89 billion in 2023[66][67] - Fixed-line and smart home service revenue increased by 3.8% to RMB 123.063 billion in 2023[66][68] - Other service revenue declined by 3.4% to RMB 7.352 billion in 2023[66][69] - Operating expenses in 2023 totaled RMB 476.423 billion, a 6.3% increase compared to 2022, accounting for 92.8% of operating revenue[70][71] - Depreciation and amortization expenses rose by

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份內容而 產生或因倚賴該等內容而引致的任何損失承擔任何責任。 China Telecom Corporation Limited 中 国 电 信 股 份 有 限 公 司 （於中華人民共和國註冊成立之股份有限公司） （股份編號：728） 2024年第一季度報告 2024年第一季度本集團的未經審核財務數據 — 經營收入為人民幣1,354.93億元，較去年同期上升3.8%；其中服務收入 為人民幣1,243.47億元，較去年同期上升5.0% — EBITDA為人民幣351.00億元，較去年同期增長3.6% — 本公司股東應佔利潤為人民幣85.97億元，較去年同期增長7.7% 中國電信股份有限公司（「本公司」，及其附屬公司合稱「本集團」）董事會（「董 事會」）謹此宣佈本集團截至2024年3月31日止三個月的業績。本公告乃根據香 港聯合交易所有限公司證券上市規則第13.09條及香港法例第571章《證券及 期貨條例》第XIVA部而作出。 ...

Table_Title Table_BaseInfo 2024 年 4 月 2 日 公司动态 中国电信（0728.HK） 证券研究报告 2023 业绩稳定增长，分红比率持续提升 TMT-通信 事件：中国电信发布 2023 年报，公司全年收入 5,136 亿元，同比增长 7%； 投资评级： 买入 归母净利润为 304 亿元，同比增长 10%；公司全年派发股息 0.2332 元/股， 目标价格： 5.50 港元 派息率达到70%，并宣布将在未来3年内将派息率提升至75%。我们认为中 国电信业绩增长稳定，分红比率持续提升，值得长期关注。 现价(2024-04-02)： 4.13港元 报告摘要 2023业绩增速稳定，ARPU小幅提升 公司全年电信服务收入4,650亿元，同 比增长7%，连续11年保持增长。其中，移动通信服务收入达到1,957亿元， 总市值(亿港元) 3,807 同比增长2%；移动用户规模达到4.08亿户，用户净增1,659万户，连续6年行 流通股市值(亿港元) 577 总股本(亿股) 915 业领先；2023年公司ARPU达到45.4元，同比增长0.4%；固网及智慧家庭收 流通股股本(亿股) 139 ...

中国电信（0728） 更新报告 买入 2024年3月27日 业 绩符合预期，承诺未来三 年进一步提高派息分红比例至 75%以上 罗凡环  经 营业绩符合预期，兑现 A 股发行承诺：2023 年公司实现收入 5136 亿元 （YoY+6.7%），其中服务收入为 4650 亿元（YoY+6.9%）,持续 11 年保持增 852-2532 1539 长。EBITDA为1368亿元（YoY+5.0%）,净利润304亿元（YoY+10.3%）,收入和 Simon.luo@firstshanghai.com.hk 利润均符合预期，净利润连续三年保持双位数增长。2023 全年资本开支为 988 亿元（YoY+6.8%），预计 2024 年资本开支占服务收入比将小于 20%，同比下降 李京霖 2.9%至 960 亿元。公司高度重视股东回报，全年派息比超过 70%，即每股人民 852-25321957 币 0.23 元（YoY+19%）,兑现 A 股发行承诺。为更好地回馈股东，从 2024 年起 公司承诺三年内以现金分配的利润逐步提升至当年股东应占利润的75%以上。 Jinglin.li@firstshanghai.com. ...

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份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。 China Telecom Corporation Limited 中 国 电 信 股 份 有 限 公 司 （於中華人民共和國註冊成立之股份有限公司） （股份編號：728） 截至2023年12月31日止之年度業績公告 要點 — 公司經營收入為人民幣5,136億元，同比增長6.7%，服務收入為人民幣4,650億元， 同比增長6.9%，連續11年保持增長。EBITDA為人民幣1,368億元，同比增長 5.0%。淨利潤為人民幣304億元，同比增長10.3%，每股基本淨利潤為人民幣0.33 元 — 2023年，公司基礎業務收入穩健增長，用户規模和價值持續提升。移動通信服務 收入達到人民幣1,957億元，同比增長2.4%，其中，移動增值及應用收入達到人民 幣258億元，同比增長12.4% — 固網及智慧家庭服務收入達到人民幣1,231億元，同比增長3.8%，其中，智慧家庭 業務收入達到人民幣190億元，同比增長12 ...