Financial Performance - The company's operating revenue for 2022 was RMB 481.4 billion, an increase of 9.5% year-on-year, with service revenue reaching RMB 434.9 billion, up 8.0% year-on-year[1]. - EBITDA for 2022 was RMB 130.4 billion, reflecting a year-on-year growth of 5.2%, while net profit was RMB 27.6 billion, a 6.3% increase year-on-year[3]. - The company's net profit attributable to shareholders was RMB 27.593 billion, up 6.3% from 2021, and 12.5% after excluding one-time tax gains from the sale of subsidiaries[18]. - Total comprehensive income for the year reached RMB 28,216 million, an increase from RMB 25,921 million in the previous year, representing a growth of approximately 9.9%[45]. - Profit attributable to shareholders was RMB 27,593 million, compared to RMB 25,949 million in 2021, reflecting an increase of about 6.3%[45]. Revenue Breakdown - Mobile communication service revenue grew to RMB 191.0 billion, a year-on-year increase of 3.7%, with a 5G package user penetration rate of 68.5%[1]. - The smart home business contributed significantly, with fixed-line and smart home service revenue reaching RMB 118.5 billion, up 4.4% year-on-year[1]. - Digital industry revenue reached RMB 117.8 billion, with a year-on-year growth of 19.7%, and Tianyi Cloud revenue was RMB 57.9 billion, up 107.5% year-on-year[1]. - Service revenue reached RMB 434.928 billion, growing by 8.0% year-on-year, with a 8.1% increase after excluding the impact of revenue from the sale of subsidiaries in 2021[18]. - The revenue from mobile communication services was RMB 191,026 million in 2022, compared to RMB 184,158 million in 2021, reflecting an increase of approximately 3.5%[53]. Expenses and Costs - Operating expenses totaled RMB 448.021 billion, increasing by 9.6%, which is 93.1% of operating revenue[25]. - Personnel costs increased by 11.5% to RMB 84.772 billion, constituting 17.6% of operating revenue[30]. - Other operating expenses reached RMB 54.451 billion, a 20.8% increase, accounting for 11.3% of operating revenue[31]. - Depreciation and amortization expenses were RMB 96.932 billion, a 4.3% increase, accounting for 20.1% of operating revenue[27]. Dividends and Shareholder Returns - The board proposed a final dividend of RMB 0.076 per share (tax included) for 2022, totaling an annual dividend of RMB 0.196 per share, which represents 65% of the profit attributable to shareholders[4]. - The proposed final dividend for the year ended December 31, 2022, is RMB 0.076 per share, totaling approximately RMB 6.955 billion, pending approval at the annual general meeting[59]. Strategic Initiatives - The company is committed to enhancing profitability and cash flow generation, aiming to increase cash dividends to over 70% of the profit attributable to shareholders within three years of its A-share listing[4]. - The company fully implemented its cloud transformation strategy in 2022, enhancing its digital supply capabilities and aiming for high-quality development[5]. - The company emphasized the importance of cybersecurity and digital transformation as part of its strategic initiatives for future growth[2]. - The company aims to enhance its core competitiveness by accelerating the construction of world-class enterprises and implementing a digital transformation strategy[17]. Technology and Innovation - The company has developed nearly 15,000 5G commercial projects, with over 8,000 new projects added in 2022[8]. - AI core capabilities have been enhanced, with the establishment of a large model for urban governance with over 1 billion parameters[9]. - The company is focusing on technology innovation and has established joint research institutions for next-generation technologies like 6G[10]. - The company added 1.7 EFLOPS of computing power in 2022, bringing the total to 3.8 EFLOPS, a year-on-year increase of 81%[11]. Corporate Governance and Compliance - The company continues to improve its corporate governance and internal control systems to ensure stable operations and protect shareholder interests[3]. - The company has maintained compliance with the corporate governance code and has implemented effective internal control measures throughout 2022[68]. - The external auditor confirmed that the consolidated financial data for the year ended December 31, 2022, is consistent with the audited consolidated financial statements[67]. Environmental and Social Responsibility - The company reduced greenhouse gas emissions by over 13 million tons in 2022, achieving a year-on-year decrease of 20.6% in emissions per unit of information flow[3]. - The company has actively participated in social welfare initiatives, providing various digital products to support small and medium-sized enterprises during the pandemic[3].

Financial Performance - Operating revenue for the third quarter of 2022 reached RMB 118,663 million, an increase of 7.9% year-on-year[2] - Profit attributable to shareholders was RMB 6,252 million, representing a 12.0% increase compared to the same period last year[2] - Basic earnings per share was RMB 0.07, a 16.7% increase year-on-year[2] - The company's operating revenue for the first three quarters of 2022 was RMB 360.98 billion, an increase of 9.6% year-on-year, with service revenue at RMB 328.60 billion, up 8.0%[8] - Net profit attributable to shareholders reached RMB 24.54 billion, a 5.2% increase year-on-year, and a 12.0% increase after excluding one-time gains from the sale of subsidiaries[8] - Operating profit for the same period was RMB 30,317 million, up 7.4% from RMB 28,254 million in 2021[16] - The company’s total comprehensive income for the nine months was RMB 25,008 million, an increase from RMB 23,284 million in 2021[17] User Growth - The number of mobile users reached 38,989 thousand, with a net increase of 1,746 thousand users[6] - The number of 5G package users increased to 25,104 thousand, with a net increase of 6,324 thousand users[6] - The total number of broadband users reached 17,868 thousand, with a net increase of 897 thousand users[6] - Mobile communication service revenue was RMB 148.37 billion, growing 5.6% year-on-year, with a net increase of 17.46 million mobile users, totaling approximately 390 million[8] - The number of 5G package users increased by 63.24 million, reaching approximately 251 million, with a penetration rate of 64.4%[8] Assets and Liabilities - Total assets as of September 30, 2022, amounted to RMB 784,593 million, a 2.9% increase from the end of the previous year[2] - Total liabilities as of September 30, 2022, amounted to RMB 354,996 million, an increase from RMB 331,066 million in 2021[15] - The company’s total equity as of September 30, 2022, was RMB 429,597 million, slightly down from RMB 431,168 million in 2021[15] Cash Flow and Expenditures - The company reported a net cash inflow from operating activities of RMB 116,018 million for the nine months, compared to RMB 119,930 million in the previous year[19] - Capital expenditures for the nine months were RMB 60,251 million, an increase from RMB 57,105 million in 2021[19] - Cash and cash equivalents as of September 30, 2022, were RMB 79,412 million, down from RMB 85,644 million at the end of 2021[19] Operating Expenses and Financial Costs - Operating expenses for the first three quarters were RMB 330.67 billion, a 9.9% increase year-on-year, primarily due to network operation and support costs[9] - Financial costs decreased significantly by 97.9% to RMB 0.27 million, attributed to improved operating conditions and reduced debt scale[9] - Depreciation and amortization expenses increased to RMB 70,141 million for the nine months ended September 30, 2022, up from RMB 68,094 million in the previous year, reflecting a rise of 3.0%[20] Strategic Initiatives - The company implemented a "cloud transformation and digital upgrade" strategy to enhance its service-oriented and technology-driven capabilities[7] - The company plans to implement a "Cloud Transformation" strategy, focusing on cloud integration and the development of strategic emerging businesses such as cloud, security, big data, and AI[10] Dividend and Shareholder Value - The company declared its first interim dividend, creating new value for shareholders[7]

Financial Performance - The company reported a profit attributable to shareholders of RMB 18.29 billion for the first half of 2022, with a proposed dividend distribution of RMB 0.120 per share, representing 60% of the profit[3]. - In the first half of 2022, the company's operating revenue reached RMB 242.3 billion, representing a year-on-year growth of 10.5%[25]. - Service revenue amounted to RMB 221.4 billion, with a year-on-year increase of 8.8%, continuing to exceed the industry average growth rate[25]. - The company’s net profit attributable to shareholders was RMB 18.29 billion, reflecting a 3.1% increase year-on-year[47]. - The company reported a basic earnings per share of RMB 0.20 for the first half of 2022, unchanged from the same period in 2021[114]. - The total comprehensive income for the period was RMB 18,550 million, compared to RMB 17,770 million in the previous year, indicating an increase of 4.4%[113]. - The company declared an interim dividend of RMB 0.120 per share, totaling approximately RMB 10.975 billion based on 91,507,138,699 shares issued[172]. Subscriber and User Growth - The total number of subscribers reached 390 million, with a year-on-year increase of 5.2%[3]. - The total number of fixed broadband access users reached 563 million, while mobile phone users totaled 1.67 billion by the end of June 2022[19]. - The number of mobile users reached 384 million, with a net increase of 11.79 million users, while mobile ARPU stood at RMB 46.0[25]. - The broadband user base reached 175 million, with a net increase of 5.73 million users, and broadband ARPU was RMB 47.2[25]. Revenue Streams - Revenue from emerging businesses, including IPTV, internet data centers, big data, cloud computing, and IoT, amounted to RMB 162.4 billion, a year-on-year increase of 36.3%[19]. - The company's mobile communication service revenue reached RMB 99 billion, a year-on-year increase of 6.0%[27]. - The revenue from industrial digitalization business was RMB 58.9 billion, showing a comparable year-on-year growth of 19.0%[25]. - Tianyi Cloud revenue reached RMB 28.1 billion, with a significant year-on-year growth of 100.8%[30]. Investment and Capital Expenditure - The company plans to invest significantly in 5G technology and infrastructure, aiming to enhance service capabilities and expand market reach[4]. - Capital expenditures for the first half of 2022 were RMB 41.66 billion, a significant increase of 54.2% compared to the previous year[48]. - The company has committed to invest a total of RMB 47.516 billion in various projects, with RMB 9.501 billion invested during the reporting period[58]. Strategic Initiatives - The company is focusing on the development of new products, including enhanced 5G messaging and AI-driven services, to meet evolving customer needs[4]. - The strategy of "cloud transformation and digital upgrade" is being fully implemented to boost technological innovation[19]. - The company is actively expanding its digitalization services for traditional industries, leveraging its resources and localized services[19]. - The company is exploring potential mergers and acquisitions to strengthen its competitive position in the telecommunications sector[4]. Risk Management and Compliance - The board has approved a risk management framework to address economic and operational risks, ensuring sustainable growth[5]. - The company emphasizes the importance of cybersecurity measures in its operations to protect user data and maintain service integrity[5]. - The company plans to enhance R&D in technology innovation and improve the transformation of results to address diverse customer needs[50]. - The company will focus on enhancing network security and data protection in response to new regulatory requirements[51]. Environmental and Social Responsibility - The company has actively participated in environmental protection activities and adheres to relevant environmental laws and regulations, ensuring compliance in its operations[78]. - The company has saved over 3 million tons of carbon emissions, with a more than 15% decrease in comprehensive energy consumption per unit of information flow compared to last year[40]. - The company has established a strict assessment and control mechanism to manage carbon emissions, focusing on both total carbon emissions and carbon intensity[79]. Shareholder Information - The major shareholder, China Telecom Group, holds approximately 74.43% of the A shares, representing 63.14% of total shares[54]. - The company has granted stock appreciation rights to 7,908 core employees, totaling approximately 2.402 billion H shares, with an exercise price of HKD 2.686[74]. - The company has maintained compliance with corporate governance codes and has strengthened internal control systems to enhance transparency and protect shareholder interests[76]. Financial Position - Total assets increased from RMB 762.234 billion at the end of 2021 to RMB 783.849 billion, a rise of 2.8%[50]. - Total liabilities increased to RMB 349,699 million as of June 30, 2022, from RMB 331,066 million at the end of 2021, marking a rise of 5.1%[111]. - The company’s financial costs decreased significantly to RMB (30) million from RMB (1,079) million in the previous year, indicating improved financial management[112].

Financial Performance - Operating revenue for the first quarter of 2022 reached RMB 119,629 million, representing an increase of 11.94% compared to the same period last year[3] - Profit attributable to shareholders for the first quarter was RMB 7,223 million, reflecting a growth of 12.14% year-on-year[3] - The company's operating revenue for Q1 2022 was RMB 119.629 billion, an increase of 11.9% year-on-year, with service revenue reaching RMB 110.024 billion, up 9.9% year-on-year[10] - The net profit attributable to shareholders was RMB 7.223 billion, a year-on-year increase of 12.1%, with basic earnings per share of RMB 0.08[10] - Net profit for the period was RMB 7,264 million, representing a growth of 11.7% from RMB 6,504 million in the previous year[21] - The pre-tax profit for the three months ended March 31, 2022, was RMB 9,325 million, an increase from RMB 8,393 million in the same period of 2021, representing an increase of 11.1%[25] User Growth - The number of mobile users reached 37,954 thousand, with a net increase of 711 thousand during the quarter[8] - The number of 5G package users surged to 21,075 thousand, with a net increase of 2,295 thousand in the first quarter[8] - Mobile communication service revenue for Q1 2022 was RMB 49.014 billion, a year-on-year increase of 5.0%, with a net increase of 7.11 million mobile users, reaching approximately 380 million[10] - The number of 5G package users increased by 22.95 million, totaling approximately 211 million, with a penetration rate of 55.5%[10] - The number of broadband users reached 17,311 thousand, with a net increase of 340 thousand[8] Assets and Liabilities - Total assets as of March 31, 2022, amounted to RMB 768,146 million, a slight increase of 0.78% from the end of the previous year[3] - The total liabilities decreased to RMB 329,923 million as of March 31, 2022, from RMB 331,066 million at the end of 2021, showing a reduction of 0.3%[18] - The company’s non-current assets totaled RMB 628,749 million, a slight decrease from RMB 634,874 million at the end of 2021, reflecting a decline of 0.8%[17] - The company’s net current liabilities improved to RMB (127,736) million as of March 31, 2022, compared to RMB (137,712) million at the end of 2021, indicating a positive change[18] Cash Flow and Financial Costs - Cash generated from operating activities was RMB 27,613 million, up from RMB 26,766 million in the same period last year, indicating a growth of 3.2%[22] - Operating cash flow generated was RMB 27,613 million for the three months ended March 31, 2022, compared to RMB 26,766 million for the same period in 2021, reflecting a growth of 3.2%[25] - The company reported a significant decrease in net financial costs to RMB 0.195 billion, down 64.2% year-on-year, due to improved operational performance and cash flow[11] - Interest income decreased to RMB 322 million, while interest expenses increased to RMB 515 million, impacting net financial performance[25] Operational Efficiency and Strategy - Operating expenses for Q1 2022 were RMB 110.517 billion, an increase of 12.4% year-on-year, primarily due to network operation and support costs[11] - The company plans to continue its "cloud transformation" strategy, focusing on customer-centric comprehensive intelligent information products and services[12] - The company aims to enhance its green operational capabilities and contribute to social responsibility, including rural revitalization and industry upgrades[13] - The company reported a significant increase in cash flow from operating activities, highlighting strong operational efficiency[25] Shareholder Information - Shareholders' equity attributable to the company was RMB 435,688 million, an increase of 1.64% from the previous year-end[3] - The total number of shareholders as of the report date was 745,225, including 743,588 A-share shareholders and 1,637 H-share shareholders[4]

Financial Performance - China Telecom had approximately 372 million mobile users, 170 million broadband users, and 107 million fixed-line telephone users by the end of 2021[4]. - The company reported a net profit of RMB 25,948,191,708 for 2021, with a proposed dividend distribution of 60%, totaling RMB 15,568,915,025[6]. - China Telecom reported a total revenue of RMB 390 billion for the year 2021, representing a year-on-year increase of 5.1%[18]. - The company reported a net profit of RMB 30 billion for 2021, an increase of 4.5% year-on-year[18]. - In 2021, the company's operating revenue reached RMB 439.6 billion, representing a year-on-year growth of 11.7%[30]. - Service revenue amounted to RMB 402.8 billion, with a year-on-year increase of 7.8%, and an adjusted growth rate of 8.1% after excluding the impact of divested subsidiaries[30]. - EBITDA was RMB 123.9 billion, reflecting a year-on-year growth of 4.2%[30]. - The company achieved a net profit attributable to shareholders of approximately RMB 14.16 billion from the sale of Tianyi E-commerce Co., Ltd. and Tianyi Financial Leasing Co., Ltd.[31]. - The company’s net profit reached RMB 25.948 billion, a year-on-year increase of 24.5%, and 17.7% after adjusting for one-time tax benefits from divested subsidiaries[30]. - The company’s operating capital shortage was RMB 137.712 billion at the end of 2021, reduced by RMB 49.414 billion from the previous year, indicating improved liquidity[99]. Dividend Distribution - The company plans to distribute a dividend of RMB 0.170 per share (before tax) based on a total share capital of 91,507,138,699 shares as of the end of 2021[6]. - The proposed final dividend for the year ending December 31, 2021, is RMB 0.170 per share, totaling RMB 15,568,915,025[113]. - The dividend payment is expected to be made on or before July 18, 2022, following approval at the annual general meeting[113]. - For H-share individual shareholders, the dividend will be paid in Hong Kong dollars, with the exchange rate based on the average middle rate published by the People's Bank of China one week prior to the dividend declaration[113]. - The company will withhold a 10% corporate income tax for non-resident H-share shareholders when distributing the proposed final dividend[113]. Capital Expenditure and Investment - The company plans to invest RMB 100 billion in network infrastructure and technology upgrades over the next three years to enhance service capabilities[18]. - The company's capital expenditure for 2021 was RMB 80 billion, accounting for 20.5% of total revenue[18]. - Capital expenditures for 2021 were RMB 86.723 billion, a 2.3% increase from 2020, focusing on 5G network construction and cloud services[95]. - The total amount of raised funds allocated to projects includes RMB 9.957 billion for 5G industrial internet construction, RMB 23.583 billion for cloud-network integration infrastructure, and RMB 13.976 billion for technology innovation R&D[122]. - The company plans to complete the investment of raised funds for all projects by 2023[122]. Market Strategy and Growth - The company aims to enhance its value through multi-faceted financing and seizing new opportunities in the market[9]. - The company is focused on expanding its market presence and enhancing its service offerings through strategic initiatives and potential acquisitions[9]. - The company has set a revenue growth target of 5% for 2022, driven by increased demand for 5G and cloud services[18]. - The company aims to expand its cloud services, targeting a revenue contribution of RMB 50 billion from cloud and digital services by 2023[18]. - The company is exploring strategic partnerships and potential acquisitions to enhance its market position and service offerings[18]. Technology and Innovation - The company is committed to developing new technologies and services, including 5G and AI, to improve user experience and operational efficiency[11]. - The company is focusing on the development of quantum communication technology, with plans to launch commercial services in 2022[18]. - The company launched over 1,200 projects under the 5G customized network initiative, covering all 15 key industries outlined in the "Sail Plan" action plan[38]. - The company is actively expanding into smart community and digital rural areas, leveraging its cloud and network integration capabilities[34][35]. - The company aims to enhance its comprehensive intelligent information service capabilities and promote high-quality development through its "Cloud Transformation and Digital Upgrade" strategy[32]. Corporate Governance and Compliance - The company has established a comprehensive governance structure to ensure compliance and transparency in its operations[149]. - The company maintains independence from its controlling shareholder in business, assets, and finance, ensuring no interference in management activities[147]. - The company emphasizes the importance of network security and will improve its core technology capabilities to safeguard data and personal information[112]. - The company has appointed external auditors for the year ending December 31, 2021, including PwC and Deloitte[151]. - The company has committed to complying with tax regulations and ensuring accurate tax withholding for its shareholders[115]. Social Responsibility and Sustainability - The company is committed to social responsibilities, including network security and green development initiatives[29]. - The company has reduced carbon dioxide emissions by over 6 million tons annually through its carbon peak and carbon neutrality action plan[53]. - The company is actively promoting energy-saving and green transformations of 5G base stations and data centers[61]. - The company is committed to integrating green and low-carbon concepts throughout its production processes, enhancing green operational capabilities[61]. Risks and Challenges - Future performance projections are subject to known and unknown risks, and the company will not update these forward-looking statements[8]. - The company faces "triple pressure" from domestic economic contraction, supply shocks, and weakened expectations, which may impact business development and revenue growth[110]. - The implementation of new laws, such as the Data Security Law and Personal Information Protection Law, will impose new compliance requirements on the industry[63][64]. - The company will enhance its compliance management system and adapt to stricter regulatory environments to mitigate operational risks[110].

Financial Performance - For the first half of 2021, China Telecom reported operating revenue of RMB 219.237 billion, a year-on-year increase of 13.1%[11]. - Service revenue reached RMB 203.502 billion, reflecting a year-on-year growth of 8.8%, surpassing the industry average growth of 8.7%[14]. - EBITDA for the first half of 2021 was RMB 66.348 billion, up 5.1% from the previous year, with an EBITDA margin of 32.6%[11][14]. - Net profit attributable to shareholders was RMB 17.743 billion, representing a year-on-year increase of 27.2%[11][14]. - Basic earnings per share increased to RMB 0.219, compared to RMB 0.172 in the same period last year[11]. - Operating revenue for the first half of 2021 reached RMB 219.24 billion, an increase of 13.1% year-on-year[27]. - Net profit for the same period was RMB 17,866 million, representing a 27.5% increase compared to RMB 14,071 million in the prior year[38]. - The company reported a pre-tax profit of RMB 23,415 million for the first half of 2021, compared to RMB 18,246 million in the same period of 2020, an increase of 28.8%[73]. Capital Expenditures and Cash Flow - Capital expenditures amounted to RMB 27.005 billion, significantly lower than RMB 43.126 billion in the previous year[11]. - Free cash flow for the period was RMB 26.8 billion, indicating strong cash generation capabilities[14]. - Capital expenditure for the first half of 2021 was RMB 27.01 billion, a decrease of 37.4% compared to the previous year[32]. - Free cash flow surged to RMB 26.78 billion, marking a significant increase of 182.1% year-on-year[32]. - The net cash generated from operating activities was RMB 67,635 million, compared to RMB 65,286 million in the previous year, indicating a growth of 3.6%[41]. Revenue Breakdown - Mobile service revenue was RMB 97.9 billion, growing by 8.2%, while fixed-line service revenue reached RMB 105.6 billion, increasing by 9.3%[14]. - In the first half of the year, the company's mobile communication service revenue reached RMB 93.3 billion, a year-on-year increase of 32.9%[19]. - The company's fixed-line and smart home service revenue reached RMB 57.4 billion, a year-on-year increase of 5.2%[19]. - The broadband access revenue reached RMB 38.1 billion, with a year-on-year growth of 7.9%, and the broadband access ARPU increased to RMB 39.4, up 2.9%[19]. - The company's digitalization revenue reached RMB 50.1 billion, a year-on-year increase of 16.8%[19]. - Mobile communication service revenue amounted to RMB 93.34 billion, up from RMB 87.33 billion, reflecting a growth of 6.5%[64]. - Industry digitalization service revenue rose to RMB 50.11 billion, a significant increase of 16.7% from RMB 42.91 billion[64]. Strategic Initiatives and Digital Transformation - China Telecom is focusing on digital transformation, leveraging 5G, cloud computing, and AI to enhance its service offerings and user experience[18]. - The company is focusing on the "cloud transformation" strategy, leveraging the A-share listing opportunity to enhance operational efficiency and development momentum[21]. - The company aims to strengthen strategic collaboration and ecosystem partnerships to optimize resources and enhance operational service capabilities[21]. - The company has launched a new cloud computing subsidiary to integrate national cloud resources and capabilities, enhancing project development and delivery capabilities[24]. - The company has formed a high-level talent team of over 10,000 professionals, including scientists and senior experts, to support digital transformation in various industries[24]. Investments and R&D - The company has significantly increased its R&D investment, focusing on core technologies such as cloud computing, AI, and 5G, resulting in a substantial increase in patent applications[23]. - The self-developed distributed storage of Tianyi Cloud has passed ISO27040 certification, making the company the first cloud storage service provider in China to achieve this[23]. - The company has established 50 cloud resource pools with a security rating of level three or above, and 66 resource pools received the highest five-star rating[21]. Financial Position and Assets - Total assets decreased by 1.2% to RMB 706.48 billion as of June 30, 2021, while total debt fell by 38.8% to RMB 32.64 billion[33]. - The debt-to-capital ratio improved to 8.0%, down from 12.8% at the end of 2020[33]. - The company’s equity attributable to shareholders increased to RMB 373,160 million from RMB 363,456 million, reflecting a growth of 2.0%[37]. - The company has a total unused credit line of RMB 271,145 million as of June 30, 2021, up from RMB 244,326 million at the end of 2020[46]. Corporate Governance and Compliance - The company emphasizes the importance of corporate governance and has adopted internal control systems to enhance transparency and protect shareholder interests[104]. - The roles of Chairman and CEO are held by the same individual, which the company believes improves decision-making efficiency[104]. - The company is committed to replacing independent non-executive directors whose terms exceed six years by July 15, 2022, in compliance with regulatory requirements[100]. - The company has confirmed compliance with the standard code of conduct for securities trading by its directors and supervisors during the reporting period[104].

Financial Performance - China Telecom reported operating revenue of RMB 393,561 million for 2020, an increase from RMB 375,734 million in 2019, representing a growth of approximately 2.2%[7] - The company's EBITDA for 2020 was RMB 118,880 million, with an EBITDA margin of 31.8%, slightly down from 32.8% in 2019[7] - Net profit for 2020 was RMB 20,850 million, compared to RMB 20,517 million in 2019, reflecting a growth of about 1.6%[7] - Capital expenditure increased to RMB 84,800 million in 2020, up from RMB 77,557 million in 2019, indicating a focus on infrastructure investment[7] - Free cash flow decreased to RMB 14,276 million in 2020, down from RMB 21,725 million in 2019, highlighting potential cash flow challenges[7] - The company maintained a debt-to-equity ratio of 14.7% in 2020, a significant decrease from 22.4% in 2019, indicating improved financial stability[7] - The company's EBITDA was RMB 118.9 billion, reflecting a year-on-year growth of 1.4%[20] - The net profit attributable to shareholders was RMB 20.9 billion, with a year-on-year increase of 1.6%[20] - The company reported a revenue of CNY 100 billion for the fiscal year, representing a year-over-year growth of 10%[49] - The company provided a revenue guidance for the next fiscal year, expecting growth between 8% to 12%[51] User Growth and Market Presence - China Telecom had approximately 351 million mobile users and 159 million broadband users by the end of 2020, showcasing its strong market presence[2] - The number of mobile users reached 351 million by the end of 2020, with a net increase of 15.45 million users, and the market share rose to 22.0%[22] - The company had 86.5 million 5G package users, achieving a penetration rate of 24.6%[21] - Broadband users reached 159 million, with broadband access revenue of RMB 71.9 billion, a year-on-year increase of 5.1%[23] - The number of IoT connections grew significantly to 237.6 million, representing a 50.9% increase compared to 2019[58] - The mobile user base reached 351 million, with a net increase of 15.45 million users in 2020, and the market share continued to improve[65] Strategic Initiatives and Innovations - The company launched a strategic initiative called "Cloud Transformation" to enhance digital services and drive high-quality development[4] - The company plans to continue expanding its 5G services and has initiated the commercial rollout of 5G SA networks, positioning itself for future growth[4] - The company signed nearly 1,900 contracts for 5G industry applications, with over 1,100 implementation scenarios[24] - The digitalization revenue reached RMB 84 billion, growing by 9.7% year-on-year, maintaining industry leadership in revenue scale and market share[24] - The company launched over 100 ecological benefits in collaboration with more than 30 leading application partners, enhancing the value of 5G services[22] - The company aims to strengthen its technological innovation focus on key technologies, particularly in 5G, cloud, and AI integration[36] - The company is investing CNY 5 billion in R&D for new technologies, focusing on AI and cloud computing solutions[53] Corporate Governance and Management - The company is currently controlled by China Telecom Group, which holds approximately 70.89% of the issued share capital[38] - The management team has extensive experience in the telecommunications industry, with key executives holding advanced degrees in engineering and management[39][40][42] - The company emphasizes the importance of technological innovation and development within its strategic framework[39] - The management team is dedicated to maintaining high standards of corporate governance and financial transparency[46] - The company has a commitment to expanding its market presence and enhancing its service offerings through strategic partnerships and acquisitions[39][45] Social Responsibility and ESG Efforts - In 2020, China Telecom was recognized with national honors for its contributions to combating the COVID-19 pandemic, reflecting its commitment to social responsibility[4] - The company has actively participated in poverty alleviation efforts, achieving poverty alleviation in all targeted counties and villages[35] - The company has supported social recovery efforts during the pandemic by rapidly establishing 5G networks and cloud platforms for hospitals[35] - The company has been recognized with multiple awards for its ESG efforts, including the Bloomberg Businessweek "ESG Leading Enterprise Award" and the "Best Telecom Company in Asia" by FinanceAsia[35] - The company has implemented energy-saving and emission-reduction measures to protect the environment[186] - The company actively fulfills its universal service obligations and ensures smooth communication during emergencies[186] Financial Management and Capital Structure - The company reported a net increase in cash and cash equivalents of RMB 3.08 billion in 2020[107] - As of December 31, 2020, the company had a working capital deficit of RMB 187.13 billion, which decreased by RMB 4.35 billion from 2019, indicating improved liquidity[110] - Total assets increased from RMB 703.13 billion at the end of 2019 to RMB 715.10 billion at the end of 2020, reflecting a growth of 1.7%[111] - Total debt decreased from RMB 790.22 billion at the end of 2019 to RMB 533.42 billion at the end of 2020, a reduction of RMB 256.80 billion[112] - The company maintained a stable cash and cash equivalents balance of RMB 23.68 billion at the end of 2020, with 73.0% in cash[110] - The debt-to-capital ratio improved from 18.3% at the end of 2019 to 12.8% at the end of 2020, indicating better financial health[111] Dividend Policy - The company proposed a final dividend of HKD 0.125 per share for the 2020 fiscal year, balancing long-term development and shareholder returns[20] - The proposed final dividend for the year ended December 31, 2020, is HKD 0.125 per share, totaling approximately RMB 8.403 billion[120] - The dividend is subject to approval at the annual general meeting scheduled for May 7, 2021[120] Compliance and Auditing - The company appointed Deloitte Touche Tohmatsu and Deloitte Huayong as its international and domestic auditors for the year ending December 31, 2020[166] - The company plans to propose the appointment of PwC and KPMG as external auditors for the year ending December 31, 2021, subject to shareholder approval[166] - The company emphasized compliance with laws and regulations, ensuring no actions were taken that would harm shareholder interests[166] - The company has maintained a commitment to shareholder interests and adhered to corporate governance principles throughout its operations[166] Pandemic Response and Community Support - The company launched over 20 service initiatives in response to the pandemic, including free service extensions and rapid activation of important services[197] - The company provided critical communication support during the pandemic, including establishing 5G connections for hospitals and enhancing network coverage for remote education[196] - The company enhanced its online service capabilities through its customer service center, ensuring uninterrupted customer support during the pandemic[197]

Financial Performance - For the first half of 2020, China Telecom reported operating revenue of RMB 193.8 billion, a year-on-year increase of 1.7%[8] - Service revenue reached RMB 187.1 billion, reflecting a 2.5% year-on-year growth, with mobile service revenue at RMB 90.5 billion, also up by 2.5%[11] - EBITDA for the period was RMB 63.2 billion, a slight decrease of 0.2% compared to the previous year, resulting in an EBITDA margin of 33.8%[8] - Net profit attributable to shareholders was RMB 13.9 billion, representing a 0.3% increase year-on-year, with basic earnings per share remaining at RMB 0.172[11] - Operating revenue for the six months ended June 30, 2020, was RMB 193,803 million, an increase from RMB 190,488 million in the same period of 2019, representing a growth of 1.4%[33] - Net profit for the period was RMB 14,071 million, slightly up from RMB 14,025 million in the previous year, indicating a growth of 0.3%[33] - The company’s net operating profit was RMB 18,978 million, a decrease from RMB 19,944 million in the previous year, representing a decline of 4.8%[33] - The total comprehensive income for the six months ended June 30, 2020, was RMB 14,208 million, compared to RMB 13,928 million for the same period in 2019, reflecting an increase of about 2%[36] Capital Expenditure and Investments - Capital expenditure for the first half of 2020 amounted to RMB 43.1 billion, significantly higher than RMB 35.0 billion in the same period last year[8] - The company invested RMB 20.2 billion in 5G network construction, establishing approximately 80,000 new 5G base stations, with nearly 210,000 stations in operation[15] - Capital expenditures for the six months ended June 30, 2020, amounted to RMB 31,118 million, compared to RMB 32,863 million in the same period of 2019, showing a reduction of about 5.3%[37] - The company’s capital commitments as of June 30, 2020, totaled RMB 20,440 million, a decrease from RMB 20,941 million as of December 31, 2019, showing a reduction of approximately 2.4%[72] User Growth and Service Expansion - As of June 30, 2020, mobile users reached 343 million, with a net increase of 7.9 million users, and 37.84 million 5G package users[13] - The company achieved 154 million broadband users, with broadband access revenue reaching RMB 35.3 billion, a year-on-year increase of 0.5%[14] - The company is actively enhancing its smart home services and broadband business to meet the growing demand for home information services[13] - Smart home applications and services revenue reached RMB 1.2 billion, a significant year-on-year increase of 131%, with whole-home WiFi users at 25 million, contributing approximately RMB 800 million[14] Digital Transformation and Technology - The company is focusing on digital transformation and enhancing operational efficiency through big data and AI applications in various business processes[18] - The company aims to enhance its digital transformation capabilities by integrating cloud and network resources, establishing a differentiated competitive advantage[15] - The company has made significant advancements in 5G technology, leading the establishment of 10 technical standards in the 3GPP R16 standard[16] - The company is expanding its 5G applications in various sectors, accumulating over 300 application scenarios in the industrial internet field[14] Financial Position and Debt Management - Total assets increased from RMB 703.131 billion at the end of 2019 to RMB 714.007 billion by June 30, 2020, representing a growth of 1.5%[27] - Total debt decreased from RMB 79.022 billion at the end of 2019 to RMB 49.597 billion, a reduction of 37.2%[27] - The net financial cost for the first half of 2020 was RMB 1.572 billion, a decrease of 23.6% year-on-year, due to effective debt control and refinancing at lower interest rates[24] - The company reported a decrease in interest expenses to RMB 1,848 million for the six months ended June 30, 2020, down from RMB 2,246 million in the same period of 2019, reflecting a reduction of approximately 17.7%[38] Corporate Governance and Social Responsibility - The company emphasizes the importance of corporate governance and has adopted internal control systems to enhance transparency and protect shareholder interests[100] - The company has complied with the corporate governance code as outlined in the listing rules during the reporting period[100] - The group has implemented various initiatives to fulfill its corporate social responsibility during the pandemic, ensuring communication continuity[42] - The group has taken measures to ensure stable communication services during the COVID-19 pandemic, which has also led to new information technology demands[42] Revenue Streams and Market Demand - The company’s industrial digitalization revenue was RMB 42.9 billion, leading the industry with a year-on-year growth of 5.1%[14] - IDC revenue was RMB 14.5 billion, a year-on-year increase of 11.9%, while industry cloud revenue grew by 30.4% to RMB 4.7 billion[14] - Internet service revenue increased to RMB 103,215 million, up 4.3% from RMB 98,895 million in 2019, indicating strong demand for internet services[59] - Engineering construction and design services revenue decreased to RMB 5,785 million, down 6.35% from RMB 6,177 million in the same period last year[78] Shareholder Information - The company declared a final dividend of RMB 0.114441 per share for the year ended December 31, 2019, totaling RMB 9,262 million, which was distributed on July 31, 2020[69] - The company did not declare an interim dividend for the current period[69] - As of June 30, 2020, China Telecom Group Co., Ltd. held 57,377,053,317 shares, representing approximately 85.57% of the issued class shares[97] - The company has a significant number of shares available for lending, totaling 483,132,571 shares, which represents 3.48% of H shares[98]

(3 中國电信 中 國 電 信 股 份 有 限 公 司 香港交易所股份代碼：728 紐約證券交易所股份代碼：CHA 日本 # 鼠 能 限 49 未 九 年 列表 糖 企業文化 關於中國電信 企業使命 讓客戶盡情享受信息新生活 戰略目標 做領先的綜合智能信息服務運營商 核心價值觀 全面創新，求真務實，以人為本，共創價值 經營理念 追求企業價值與客戶價值共同成長 服務理念 用戶至上，用心服務 企業行為準則 恪守承諾，為客戶提供卓越服務 誠信合作，在共創中尋求共贏 穩健經營，持續提升企業價值 精確管理，科學配置資源 關愛員工，讓每塊金子發光 回報社會，做有責任心的企業公民 企業形象口號 世界觸手可及 中國電信股份有限公司（「中國電信」或「本公司」，於中華人民共和國註冊成立的股份有限 公司，與其附屬公司合稱「本集團」）是一家全球大型的領先的全業務綜合智能信息服務運營 商，主要在中國提供固定及移動通信服務、互聯網接入服務、信息服務，以及其他增值電 信服務。於2019年底，本公司擁有約3.36億移動用戶、約1.53億有線寬帶用戶及約1.11億 固定電話用戶。本公司發行的H股及美國存託股份分別在香港聯合交易所有限公司（「香 ...

Financial Performance - Operating revenue for the first half of 2019 reached RMB 190.488 billion, a decrease of 1.3% compared to RMB 193.029 billion in the same period of 2018[5]. - EBITDA for the first half of 2019 was RMB 63.287 billion, representing an increase of 13.3% from RMB 55.858 billion in the previous year, with an EBITDA margin of 34.7%[5]. - Net profit for the first half of 2019 was RMB 13.909 billion, up 2.5% from RMB 13.570 billion in the same period of 2018[5]. - Service revenue reached RMB 182.6 billion, a year-on-year increase of 2.8%, with mobile service revenue growing by 5.6% to RMB 88.2 billion[16]. - In the first half of 2019, the company's operating revenue was RMB 190.49 billion, a decrease of 1.3% year-on-year; service revenue was RMB 182.59 billion, an increase of 2.8% year-on-year[26]. - The company reported a basic earnings per share of RMB 0.17, consistent with the same period in 2018[39]. - The net profit attributable to shareholders for the six months ended June 30, 2019, was RMB 13,909 million, representing an increase compared to the previous period[40]. - The total comprehensive income for the same period was RMB 14,092 million, which includes other comprehensive income adjustments[40]. User Growth and Market Share - The number of mobile users increased by 20.48 million, reaching a total of 330 million, with a market share increase to 20.4%[16]. - The number of Tianyi HD users reached 111 million, with smart gateway and home cloud users reaching 61.8 million and 32.15 million respectively[18]. Capital Expenditure and Cash Flow - Capital expenditure for the first half of 2019 was RMB 35.019 billion, an increase of 6.3% compared to RMB 32.947 billion in the previous year[5]. - Free cash flow remained strong at RMB 18.3 billion, reflecting the company's robust financial health[16]. - Capital expenditures for the first half of 2019 were RMB 35.02 billion, an increase of 6.3% year-on-year, while free cash flow remained strong at RMB 18.31 billion[30]. Emerging Business and Innovation - Emerging business revenue accounted for 55.4% of service revenue, contributing 5.7 percentage points to overall service revenue growth[16]. - Cloud business revenue grew by 11.0% year-on-year, while Internet finance revenue increased by 112.2%, with a cumulative transaction amount growing by 40.4%[18]. - The company achieved a 3.0 percentage point increase in service revenue driven by DICT and IoT business[18]. - The company is actively promoting the integration of 5G with cloud computing and AI technologies[20]. - The company has deepened reforms in its technology innovation system, increasing investment in emerging technology R&D[19]. 5G Development - The company plans to accelerate the deployment and preparation for large-scale commercial use of 5G services[15]. - The company aims to launch network upgrades for standalone (SA) architecture in 2020, enhancing its edge computing and network slicing capabilities[21]. - The company is actively exploring and promoting the shared construction of 5G network resources to reduce construction and operational costs[21]. - The company has signed contracts with over 400 enterprise customers to jointly innovate in 5G industry applications across various sectors including transportation, healthcare, and education[21]. Financial Position and Assets - As of June 30, 2019, total assets increased to RMB 710.96 billion, a growth of 7.2% from the end of 2018, while total debt decreased to RMB 76.60 billion, down 20.0%[31]. - The debt-to-capital ratio improved to 18.1%, a decrease of 3.7 percentage points from the end of 2018[31]. - The company’s equity attributable to shareholders was RMB 345,783 million, up from RMB 343,069 million in 2018, indicating a growth of 0.8%[37]. Cost Management and Operational Efficiency - The company continues to focus on precise management and resource utilization efficiency, leading to effective cost control and improved operational performance[27]. - In the first half of 2019, the company's operating expenses amounted to RMB 170.54 billion, a decrease of 1.9% year-on-year, with the expense ratio to operating income at 89.5%, down 0.6 percentage points from the same period last year[27]. - Network operation and support costs totaled RMB 50,780 million for the first half of 2019, a decrease of 6.5% from RMB 54,184 million in the same period of 2018[90]. Corporate Governance and Compliance - The company emphasizes corporate governance and has adopted measures to enhance internal controls and transparency[130]. - The roles of Chairman and CEO are held by the same individual to improve decision-making efficiency[130]. - The company has complied with the corporate governance code during the reporting period[130]. Accounting Standards and Financial Reporting - The financial report is prepared in accordance with International Accounting Standards and reflects the unaudited financial position as of June 30, 2019, and the operating results for the six-month period[48]. - The company adopted several new and revised International Financial Reporting Standards, including IFRS 16 on leases, which has impacted the accounting policies[49]. - The implementation of IFRS 16 resulted in the recognition of right-of-use assets and lease liabilities on the balance sheet, affecting the financial statements significantly[52].