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].

证券代码：601728 证券简称：中国电信 公告编号：2023-008 中国电信股份有限公司 关于召开 2022 年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 会议召开时间：2023 年 3 月 22 日(星期三)下午 16:45-17:45 网络 直播地址： 上海证券 交易所 上证路演 中心（ 网址 ： http://roadshow.sseinfo.com ） 、 路 演 中 平 台 （ 网 址 ： https://www.roadshowchina.cn/Meet/detail.html?mid=17707）同 步直播 会议召开方式：现场交流、网络直播和文字互动 投资者可于即日起至 2023 年 3 月 21 日(星期二)16:00 前登录上 证路演中心 网站首页点击"提问预征集"栏目 （http://roadshow.sseinfo.com/questionCollection.do）或通过 公司邮箱 ir@chinatelecom-h.com 进行提问。公司将在业绩说明会上 对 ...

Revenue and Profit - Revenue for Q3 2022 reached ¥117.62 billion, an increase of 7.9% year-over-year[3] - Net profit attributable to shareholders was ¥6.25 billion, reflecting a 12.0% increase compared to the same period last year[3] - Net profit excluding non-recurring items was ¥6.21 billion, a decrease of 1.6% year-over-year[3] - The company reported a revenue of RMB 357.843 billion for the first three quarters of 2022, representing a year-on-year growth of 9.6%[14] - Net profit attributable to shareholders was RMB 24.543 billion, a 5.2% increase year-on-year, with a basic earnings per share of RMB 0.27[14] - Total revenue for Q3 2022 reached CNY 31.83 billion, an increase of 4.4% compared to CNY 30.49 billion in Q3 2021[23] - Net profit for Q3 2022 was CNY 24.64 billion, up 5.1% from CNY 23.44 billion in the same period last year[23] - The total comprehensive income for Q3 2022 was CNY 25.01 billion, up from CNY 23.28 billion in Q3 2021, representing an increase of 7.4%[24] - The total comprehensive income for the first three quarters of 2022 was ¥23.70 billion, compared to ¥22.95 billion in the same period of 2021[32] Earnings and Cash Flow - Basic earnings per share for the quarter was ¥0.07, up 16.7% year-over-year[4] - Cash flow from operating activities for the first three quarters of 2022 was CNY 375.67 billion, compared to CNY 352.85 billion in the same period of 2021, marking an increase of 6.5%[25] - The net cash flow from operating activities for Q3 2022 was approximately ¥116.49 billion, compared to ¥120.81 billion in Q3 2021, reflecting a decrease of about 3%[27] - The net cash flow from operating activities for the first three quarters was ¥122.46 billion, an increase from ¥118.40 billion in the same period of 2021[34] Assets and Liabilities - Total assets at the end of the reporting period were ¥784.60 billion, a 2.9% increase from the previous year[4] - Current assets totaled ¥161.44 billion as of September 30, 2022, up from ¥127.36 billion at the end of 2021, representing a growth of 26.8%[19] - Total liabilities amounted to ¥354.99 billion, an increase from ¥331.07 billion, indicating a rise of 7.2%[21] - The total assets reached approximately ¥751.40 billion in Q3 2022, compared to ¥731.74 billion in Q3 2021, indicating a growth of about 2.7%[29] - The total liabilities amounted to approximately ¥345.12 billion in Q3 2022, up from ¥322.60 billion in Q3 2021, which is an increase of around 7%[29] Research and Development - Research and development expenses surged to RMB 5.915 billion, reflecting a 101.4% increase year-on-year, driven by a focus on technological innovation[17] - Research and development expenses increased significantly to CNY 5.91 billion, a rise of 100.5% from CNY 2.94 billion in Q3 2021[22] - Research and development expenses increased significantly to ¥3.19 billion, a rise of 86.6% from ¥1.71 billion in the previous year[31] User Growth and Services - As of September 30, 2022, the total number of mobile users reached 389.89 million, an increase of 1.746 million users compared to the previous year[14] - The number of 5G package users reached 251.04 million, with a net increase of 63.24 million users, resulting in a penetration rate of 64.4%[15] - Revenue from fixed-line and smart home services was RMB 89.433 billion, showing a year-on-year growth of 4.6%[15] - The company’s digital industry revenue reached RMB 85.632 billion, with a comparable growth of 16.5% year-on-year[16] - The average revenue per user (ARPU) for mobile users was RMB 45.5, while the broadband ARPU reached RMB 46.6[15] Financial Guarantees - The company approved a guarantee plan for its subsidiaries with a total amount not exceeding RMB 182.85 million, valid until March 31, 2022[36] - In 2022, the company plans to provide guarantees totaling RMB 205.80 million for its subsidiaries, valid until March 31, 2023[36] - The company provided guarantees totaling RMB 22.22 million in the third quarter of 2022[38] - The financial company provided a performance guarantee of RMB 42.90 million for China Telecom Smart Technology, valid from July 15, 2022, to June 1, 2025[37]

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 - The company reported a net 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, amounting to 60% of the net profit [3]. - The company's operating revenue for the first half of 2022 was approximately ¥240.22 billion, representing a 10.4% increase compared to the same period last year [22]. - The net profit attributable to shareholders for the same period was approximately ¥18.29 billion, reflecting a 3.1% increase year-over-year [22]. - The net profit after deducting non-recurring gains and losses was approximately ¥18.38 billion, which is a 12.1% increase compared to the previous year [22]. - The basic earnings per share for the first half of 2022 was ¥0.20, down 9.1% from ¥0.22 in the same period last year [23]. - The weighted average return on equity decreased by 0.6 percentage points to 4.2% compared to the previous year [23]. - The company's total revenue for the first half of 2022 was RMB 240.2 billion, representing a year-on-year growth of 10.4%, with service revenue reaching RMB 221.4 billion, up 8.8% [42]. - The company achieved a net profit attributable to shareholders of RMB 18.3 billion, a year-on-year increase of 3.1%, and a net profit excluding non-recurring items of RMB 18.4 billion, up 12.1% [42]. Dividend and Share Capital - The total share capital as of June 30, 2022, was 91,507,138,699 shares, which will be used as the basis for the dividend distribution calculation [3]. - The company plans to distribute an interim dividend of RMB 0.12 per share, which is 60% of the profit attributable to shareholders for the first half of 2022 [42]. - The company plans to distribute a dividend of RMB 0.120 per share (including tax) based on a net profit of RMB 18.29 billion for the first half of 2022, representing 60% of the net profit attributable to shareholders [88]. - The total number of shares for dividend distribution is calculated based on the total share capital of 91,507,138,699 shares as of June 30, 2022 [88]. Operational Highlights - The company’s fixed-line and smart home service revenue reached RMB 59.9 billion in the first half of the year, a year-on-year increase of 4.4%, with broadband access revenue at RMB 40.8 billion, up 7.1% [47]. - The number of mobile users increased by 11.79 million to reach 384 million, with a mobile ARPU of RMB 46.0, continuing to show growth [34]. - The company maintained a leading position in 5G services, with 5G package users reaching 232 million, representing a penetration rate of 60.3% [46]. - The company has established the largest 5G SA shared network and the largest gigabit fiber network in the world, enhancing its cloud computing capabilities [37]. - The company is focused on enhancing its digital information infrastructure and has implemented a "cloud transformation" strategy to drive high-quality development [43]. Risks and Compliance - The company has outlined various risks including economic and policy environment adaptation risks, operational risks, and international business risks in the report [7]. - The company emphasizes that forward-looking statements regarding development strategies and future business plans are subject to known and unknown risks and uncertainties [4]. - The company has not experienced any non-operating fund occupation by controlling shareholders or related parties during the reporting period [5]. - There are no violations of decision-making procedures regarding external guarantees [6]. - The board of directors and senior management have confirmed the authenticity, accuracy, and completeness of the semi-annual report, which has not been audited [6]. Environmental and Social Responsibility - The company is committed to complying with environmental protection laws and regulations, ensuring that its operations meet national environmental standards [93]. - The company has not faced any administrative penalties related to environmental issues during the reporting period [93]. - The company achieved a comprehensive energy consumption reduction of over 15% year-on-year through initiatives such as 4/5G base station sharing and AI energy-saving measures, resulting in a reduction of carbon emissions by over 3 million tons [97]. - The company actively promotes water conservation and has implemented measures to recycle production water, aiming to reduce reliance on tap water [94]. - The company has established a carbon peak and carbon neutrality leadership office to integrate green development into all operational processes [96]. Financial Position and Cash Flow - The total assets at the end of the reporting period were approximately ¥783.86 billion, an increase of 2.8% from the end of the previous year [22]. - The company's cash and cash equivalents increased to approximately ¥80.56 billion, up from ¥75.21 billion at the end of the previous year [153]. - The net cash flow from operating activities decreased by 4.6% to approximately ¥65.25 billion compared to the previous year [22]. - The net cash outflow from investment activities increased by 66.0% to RMB 33.8 billion, mainly due to reduced cash recovery from term deposits [65]. - The total liabilities of China Telecom amounted to RMB 349.70 billion, an increase from RMB 331.07 billion as of December 31, 2021, representing a growth of approximately 5.0% [155]. Technological Innovation - The company has made significant advancements in technology innovation, with over 50 core technologies developed, including AI and quantum communication [39]. - The company aims to enhance its digital infrastructure by integrating cloud, network, data, intelligence, and security elements, promoting a comprehensive digital information infrastructure [53]. - R&D expenses surged by 84.8% to RMB 32.5 billion, driven by a focus on technological innovation and core technology development [64]. - The company achieved a 70% utilization rate of AI customer service, significantly reducing reliance on human customer service [59]. Shareholder and Governance - The company has undergone changes in its board of directors, including the election of Tang Ke as an executive director and Han Fang as the chairman of the supervisory board [85]. - The company held two shareholder meetings during the reporting period, with all proposed resolutions approved [84]. - The company has authorized the board to determine the mid-term profit distribution plan for 2022 [88]. - The controlling shareholder, China Telecom Group, increased its stake in the company by acquiring 593,198,098 A shares, representing 0.65% of the total shares, with a total investment of approximately RMB 2.52 billion [123].

Financial Performance - The total revenue for Q1 2022 was CNY 118.58 billion, representing an increase of 11.53% compared to the same period last year[5]. - The net profit attributable to shareholders was CNY 7.22 billion, reflecting a growth of 12.14% year-over-year[5]. - The net profit after deducting non-recurring gains and losses was CNY 7.99 billion, up by 10.39% from the previous year[5]. - The basic earnings per share remained at CNY 0.08, unchanged from the previous year[5]. - The diluted earnings per share also stood at CNY 0.08, consistent with the prior year[5]. - The total comprehensive income for Q1 2022 was CNY 7,054,213,153.91, compared to CNY 6,436,379,182.54 in Q1 2021, marking an increase of 9.6%[27]. - The total profit for Q1 2022 was CNY 9.01 billion, up 21.2% from CNY 7.43 billion in Q1 2021[35]. Operating Metrics - In Q1 2022, the company's operating revenue was RMB 118.576 billion, an increase of 11.5% year-on-year, with service revenue reaching RMB 110.024 billion, up 9.9%[14]. - The company's operating profit for Q1 2022 was CNY 11,169,377,464.69, compared to CNY 9,757,957,950.29 in Q1 2021, indicating a growth of 14.5%[26]. - The company's fixed broadband and smart home service revenue was RMB 29.645 billion, a year-on-year growth of 4.9%[15]. - The revenue from industrial digitalization reached RMB 29.414 billion, marking a significant year-on-year increase of 23.2%[16]. User Growth - The total number of mobile users reached 379.54 million, with a net increase of 7.11 million users in Q1 2022[12][13]. - The number of 5G package users increased by 22.95 million, totaling approximately 211 million, with a penetration rate of 55.5%[14]. Costs and Expenses - The company's operating costs were RMB 81.780 billion, up 12.1% year-on-year, primarily due to network quality optimization and increased investment in 5G and digitalization[17]. - R&D expenses surged by 56.8% year-on-year to RMB 1.118 billion, reflecting the company's commitment to technological innovation[17]. - The company's tax expenses for Q1 2022 were CNY 2,060,669,759.72, up from CNY 1,889,469,818.33 in Q1 2021, reflecting an increase of 9.0%[26]. - The financial expenses decreased significantly to CNY 195,297,829.91 from CNY 545,048,627.79 in the previous year, a reduction of 64.1%[26]. Cash Flow and Assets - The net cash flow from operating activities was CNY 28.27 billion, showing a slight increase of 2.08%[5]. - Cash and cash equivalents as of March 31, 2022, amounted to CNY 71.49 billion, a decrease from CNY 75.21 billion as of December 31, 2021[21]. - Accounts receivable increased to CNY 34.22 billion as of March 31, 2022, compared to CNY 22.33 billion at the end of 2021, representing a growth of 53.38%[21]. - Total assets at the end of the reporting period were CNY 768.15 billion, a 0.78% increase from the end of the previous year[6]. - Total liabilities as of March 31, 2022, were CNY 329.92 billion, a decrease from CNY 331.07 billion at the end of 2021[23]. Future Plans - The company plans to enhance its digital transformation and continue developing comprehensive intelligent information products and services[18]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[35].

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].