Core Insights - China Tower achieved a revenue of 100.41 billion RMB in 2025, marking a year-on-year growth of 2.7% and a net profit of 11.63 billion RMB, which represents an 8.4% increase [1][8][10] Financial Performance - Revenue: 1004.11 billion RMB, up 2.7% year-on-year [1][10] - Net Profit: 116.3 billion RMB, up 8.4% year-on-year [1][10] Business Expansion - Tower Resources: 2.149 million tower sites [4][12] - Operator Tower Tenants: 3.567 million [4][17] - Average Tenants per Operator Tower: 1.70 [12] Coverage and Infrastructure - Building Distribution Coverage Area: 15.15 billion square meters [13] - Coverage Mileage for High-speed Rail Tunnels and Subways: 33,661 kilometers [15] Revenue Composition - Tower Business Revenue: 75.498 billion RMB [6][19] - Operator Business Revenue: 84.725 billion RMB, with a year-on-year growth of 0.7% [6][18] - Indoor Distribution Business Revenue: 9.227 billion RMB, up 9.5% year-on-year [6][19] - Energy Business Revenue: 4.813 billion RMB, up 7.5% year-on-year [20]

Core Insights - China Tower reported a total revenue of RMB 100.41 billion for 2025, representing a year-on-year growth of 2.7% [2] - EBITDA for the year was RMB 65.81 billion, showing a decline of 1.1% compared to the previous year [2] - The profit attributable to shareholders reached RMB 11.63 billion, an increase of 8.4%, with a net profit margin of 11.6% [2] Revenue Breakdown - The operator business, which is the core segment, generated revenue of RMB 84.73 billion, a growth of 0.7% year-on-year [5] - Tower business revenue was RMB 75.50 billion, down 0.3% year-on-year, attributed to reduced social costs and increased lease terminations [8] - Indoor distribution system (室分) business revenue was RMB 9.23 billion, up 9.5% year-on-year, driven by demand in key sectors like transportation and healthcare [9] Growth in New Business Segments - The combined revenue from the two wings (Smart Connection and Energy) reached RMB 14.99 billion, accounting for 14.9% of total revenue, an increase of 1.2 percentage points [9] - Smart Connection business revenue exceeded RMB 10.17 billion, growing by 14.2% year-on-year, focusing on digital governance and industry applications [9] - Energy business revenue was RMB 4.81 billion, up 7.5% year-on-year, with significant growth in battery swap services [10] Future Strategy - The company aims to enhance its core competitiveness and foster new productive forces, adhering to a shared development philosophy [10] - China Tower plans to leverage opportunities in new infrastructure development and improve resource coordination and delivery capabilities [10] - The focus will be on expanding business development space and meeting customer needs through innovative solutions [10][11]

Group 1 - The company China Tower (00788.HK) announced a final dividend of RMB 0.32539 per share to be distributed on June 30, 2026 [1] - The stock has low attention from investment banks, with no ratings given in the past 90 days [2] - China Tower has a market capitalization of HKD 52.544 billion and ranks second in the telecommunications equipment industry [2]

Core Viewpoint - China Tower reported a revenue of RMB 100.41 billion for the fiscal year 2025, reflecting a year-on-year growth of 2.7% [1] Financial Performance - Net profit attributable to shareholders reached RMB 11.63 billion, an increase of 8.4% year-on-year [1] - EBITDA was RMB 65.81 billion, showing a decline of 1.1% year-on-year, with an EBITDA margin of 65.5% [1] - The net profit margin stood at 11.6% [1] Revenue Breakdown - Tower business revenue was RMB 75.50 billion, a slight decrease of 0.3% year-on-year [1] - Indoor distribution business revenue increased to RMB 9.23 billion, up 9.5% year-on-year [1] - Smart connection business revenue reached RMB 10.17 billion, growing by 14.2% year-on-year [1] - Energy business revenue was RMB 4.81 billion, reflecting a growth of 7.5% year-on-year [1] Cash Flow and Financial Health - Operating cash flow net amount was RMB 56.12 billion, an increase of RMB 6.65 billion year-on-year [1] - Capital expenditures totaled RMB 29.49 billion [1] - Free cash flow reached RMB 26.63 billion, up RMB 9.10 billion year-on-year [1] - As of December 31, 2025, total assets amounted to RMB 336.58 billion, with interest-bearing liabilities of RMB 90.46 billion [1] - The net debt leverage ratio decreased to 27.7%, down 3.3 percentage points from the previous year [1]

Group 1 - The company China Tower (00788) announced that it will distribute a final dividend of 0.32539 RMB per share on June 30, 2026 [1]

Core Insights - China Tower (00788) reported an annual revenue of RMB 100.41 billion for the year ending December 31, 2025, representing a year-on-year growth of 2.7% [1] - The profit attributable to shareholders reached RMB 11.63 billion, an increase of 8.4% year-on-year, with basic earnings per share at RMB 0.6653 and a proposed final dividend of RMB 0.32539 per share [1] Group 1: Business Performance - The company continues to play a leading role in the construction of 5G infrastructure, aligning with national initiatives for "dual-gigabit" network development [1] - Revenue from operator services reached RMB 84.73 billion in 2025, showing a year-on-year growth of 0.7% [1] - The "two wings" business segment generated revenue of RMB 14.99 billion, accounting for 14.9% of total revenue, an increase of 1.2 percentage points compared to the previous year [1] Group 2: Innovation and R&D - The company is advancing its work mechanism focusing on capability levels, project tasks, resource allocation, and outcome transformation, emphasizing the "one body and two wings" business model [2] - R&D investment and personnel increased by 82% and 22% respectively compared to 2024, with a significant rise in the number of patent applications and authorizations [2] - The establishment of six major technology innovation centers is ongoing, enhancing the effectiveness of technological innovation and expanding collaborative innovation platforms [2]

Core Insights - The company reported an annual revenue of 100.41 billion RMB for the year ending December 31, 2025, representing a year-on-year growth of 2.7% [1] - Net profit attributable to shareholders reached 11.63 billion RMB, an increase of 8.4% compared to the previous year [1] - The company plans to distribute a final dividend of 0.32539 RMB per share [1] Group 1: Business Performance - The company continues to play a leading role in the construction of 5G infrastructure, aligning with national initiatives for "dual-gigabit" network development [1] - Revenue from operator services reached 84.73 billion RMB in 2025, showing a slight growth of 0.7% year-on-year [1] - The "two wings" business segment generated revenue of 14.99 billion RMB, accounting for 14.9% of total revenue, an increase of 1.2 percentage points from the previous year [1] Group 2: Innovation and R&D - The company is advancing its "four lists" work mechanism focusing on capability levels, project tasks, resource allocation, and results transformation [2] - R&D investment and personnel numbers are projected to increase by 82% and 22% respectively in 2025 compared to 2024 [2] - The number of patent applications and granted patents is expected to grow by 77% and 54% respectively compared to 2024, with participation in the formulation of multiple international standards [2]

第 1 頁 共 2 頁 v 1.1.1 EF001 免責聲明 | 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 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。 | | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 中國鐵塔股份有限公司 | | 股份代號 | 00788 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 截至2025年12月31日之末期股息 | | 公告日期 | 2026年3月18日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 末期 | | 股息性質 | 普通股息 | | 財政年末 | 2025年12月31日 | | 宣派股息的報告期末 | 2025年12月31日 | | 宣派股息 | 每 股 0.32539 RMB | | 股東批准日期 | 2026年5月15日 | | 香港過戶登記處相關信息 | | | 派息金額及公司預設派發貨幣 | HKD， 金額有待公佈 | ...

Financial Performance - The company achieved operating revenue of RMB 100.41 billion, representing a year-on-year growth of 2.7%[3] - Operating business revenue reached RMB 84.73 billion, with a year-on-year increase of 0.7%; tower business revenue was RMB 75.50 billion, down 0.3%[4] - EBITDA amounted to RMB 65.81 billion, with a margin of 65.5%; net profit attributable to shareholders was RMB 11.63 billion, up 8.4%[6] - Free cash flow reached RMB 26.63 billion, an increase of RMB 9.10 billion year-on-year[6] - The total operating revenue for the group reached RMB 100.411 billion for the year ending December 31, 2025, compared to RMB 97.772 billion in 2024, reflecting an increase of 2.1%[20] - The operating profit for the year was RMB 17.360 billion, an increase from RMB 16.330 billion in 2024, representing a growth of 6.3%[20] - The net profit attributable to shareholders for the year was RMB 11.630 billion, compared to RMB 10.729 billion in 2024, marking a year-on-year increase of 8.4%[20] - The company reported a total comprehensive income of RMB 11.629 billion for the year, up from RMB 10.727 billion in 2024, indicating a growth of 8.4%[22] - The company's profit attributable to shareholders for 2025 was RMB 11,630 million, an increase of 8.4% from RMB 10,729 million in 2024[41] - The basic earnings per share for 2025 was RMB 0.6653, up from RMB 0.6138 in 2024, reflecting a growth of 8.1%[41] - The pre-tax profit for 2025 was RMB 15,365 million, compared to RMB 14,119 million in 2024, representing an increase of 8.8%[41] Revenue Breakdown - Indoor distribution business revenue grew by 9.5% to RMB 9.23 billion, with coverage area reaching 15.15 billion square meters, a 19.5% increase[11] - The smart connection business generated RMB 10.17 billion in revenue, a 14.2% increase, with a focus on AI applications in spatial governance[12] - As of December 31, 2025, the company's energy business achieved revenue of RMB 4.813 billion, a year-on-year increase of 7.5%, with the battery swap business contributing RMB 3.029 billion, up 21.2%, accounting for 62.9% of energy business revenue[13] - The revenue from the tower business in 2025 was RMB 75.498 billion, a slight decrease of 0.3% from RMB 75.689 billion in 2024[59] - The energy business revenue for 2025 was RMB 4.813 billion, reflecting a growth of 7.5% year-on-year[62] Expenses and Costs - Operating expenses for 2025 totaled RMB 83.051 billion, with an increase of 2.0% year-on-year, accounting for 82.7% of operating revenue[64] - In 2025, the company's operating expenses totaled RMB 830.51 billion, accounting for 82.7% of revenue, a slight decrease from 83.3% in 2024[65] - Depreciation and amortization expenses for 2025 were RMB 484.54 billion, down 3.5% year-on-year, with a reduction of RMB 1.775 billion[66] - Maintenance expenses increased by 1.6% year-on-year to RMB 71.03 billion in 2025[67] - Labor costs rose by 5.3% year-on-year to RMB 100.77 billion, driven by R&D innovation and regional management changes[68] - Site operation and support costs grew by 11.3% year-on-year to RMB 61.25 billion[69] - Other operating expenses surged by 23.5% year-on-year to RMB 112.92 billion, primarily due to increased business development costs[70] Assets and Liabilities - Total assets reached RMB 336.58 billion, with interest-bearing liabilities of RMB 90.46 billion[6] - Total assets increased to RMB 336,579 million in 2025, up from RMB 332,834 million in 2024, representing a growth of 1.4%[23][24] - Non-current liabilities decreased to RMB 52,106 million in 2025 from RMB 57,056 million in 2024, a reduction of 8.7%[24] - The total liabilities remained relatively stable at RMB 132,671 million in 2025, compared to RMB 132,855 million in 2024, showing a slight decrease of 0.14%[24] - The company's net receivables from operations increased to RMB 81,840 million in 2025, compared to RMB 79,436 million in 2024, marking a growth of 3.0%[47] - The accounts receivable as of December 31, 2025, totaled RMB 74.113 billion, up from RMB 48.034 billion in 2024, marking a significant increase of 54.3%[49] Dividends and Shareholder Information - The company proposed a final dividend of RMB 0.32539 per share, with a total dividend payout ratio of 77%[6] - The total proposed final dividend for the year ended December 31, 2025, is RMB 0.32539 per share, amounting to approximately RMB 5.688 billion[54] - The final dividend is expected to be paid around June 30, 2026, if approved[87] - The company will withhold a 10% corporate income tax for non-resident H-share shareholders when distributing the proposed final dividend[87] - The H-share register will be closed for transfers from May 12 to May 15, 2026, to determine voting rights at the AGM[93] - H-share individual shareholders must notify the company by May 21, 2026, if their residency status differs from their registered address to claim any tax refunds[90] - The company will not be liable for any disputes arising from the tax status of H-share shareholders[91] - The company will follow the tax regulations for H-share investors as per the relevant agreements with China[88] - The 2025 Annual General Meeting is scheduled for May 15, 2026[86] Corporate Governance and Strategy - The company is committed to integrating ESG principles into its operations, enhancing corporate governance, and promoting sustainable development[15] - Research and development investment is expected to grow by 82% in 2025 compared to 2024, with the number of R&D personnel increasing by 22%[14] - The company plans to enhance its battery swap network and improve service quality to increase user retention and expand market leadership[17] - The company aims to deepen its focus on key industries and high-quality customers through the "Tower Energy Steward" comprehensive solution, driving rapid development in the backup power business[17] Capital Expenditures - Capital expenditures for 2025 totaled RMB 294.86 billion, a decrease of 7.7% year-on-year, with significant reductions in site construction and renovation costs[74] Legal and Compliance - The company has not been involved in any significant litigation or arbitration as of December 31, 2025[85] - The company will publish its 2025 Annual Report on its website and the Hong Kong Stock Exchange website[94]

Core Viewpoint - The article highlights the comprehensive efforts of China Tower in ensuring communication and network information security during the National People's Congress and the Chinese People's Political Consultative Conference, achieving a goal of "sixteen zeros" in overall security guarantees [1][4]. Group 1: Operational Achievements - During the security guarantee period, China Tower deployed over 7,320 personnel, utilized 5,324 vehicles, and mobilized 1,784 emergency oil machines, while inspecting 1,352 core guarantee station sites [1][4]. - The company established a leadership group led by Chairman Zhang Zhiyong, supported by six specialized working groups, to create a robust organizational guarantee system [5]. Group 2: Technological Empowerment - China Tower employed intelligent technology to enhance network operation and site security, implementing a smart operation system for 115 controlled sites with 24-hour video monitoring [2][5]. - The use of an IVR system for fault handling improved alert processing efficiency by 30%, ensuring rapid response and resolution of various faults [2][5]. Group 3: Risk Management Measures - The company conducted two rounds of comprehensive risk inspections across 1,352 guarantee sites before the start of the security work, ensuring dynamic clearance of identified issues [3][6]. - During the security period, China Tower processed over 66,000 security alerts, intercepted more than 1.2 million cyber attacks, and banned 1,081 malicious IPs, reinforcing its network security measures [3][6]. Group 4: Duty and Responsibility - China Tower implemented a 24/7 duty system and leadership presence to ensure timely responses to emergencies, with dedicated personnel monitoring key guarantee sites during the conference [4][7]. - The company conducted on-site inspections of 52 guarantee sites to ensure the effectiveness of security measures, employing a rigorous oversight approach [7].