Core Insights - China Unicom reported a net profit growth of 5.1% year-on-year for the first three quarters of 2025, with operating revenue slightly increasing by 1.0% to 293 billion RMB [1][3] - The revenue from "Unicom Cloud," reflecting cloud services and related solutions, reached 52.9 billion RMB, indicating strong performance in the cloud computing market [1][3] Financial Performance - Operating revenue for the first three quarters was 293 billion RMB, a year-on-year increase of 1.0% [1][3] - Net profit attributable to equity holders grew by 5.1% to 20 billion RMB [1][3] - Taxable profit reached 24.7 billion RMB, showing a year-on-year growth of 5.0% [3] Cloud and Data Center Growth - "Unicom Cloud" revenue reached 52.9 billion RMB, showcasing its competitive strength in the cloud computing sector [3] - The data center business generated 21.4 billion RMB in revenue, reflecting an 8.9% year-on-year increase [3] User Growth and Service Expansion - As of September 30, 2025, the company had 356 million mobile users, with a net increase of 12.48 million in nine months [3] - Fixed broadband users reached 129 million, with a net increase of 6.79 million, marking the highest net growth in recent years [3] Technological Advancements - The company is actively increasing investment in cutting-edge technologies, with R&D expenses rising by 5.9% [4] - China Unicom is focusing on next-generation internet, artificial intelligence, and cybersecurity, among other key technologies [4] - The company has received a license for satellite mobile communication, opening new business avenues [4] Network Infrastructure Development - China Unicom is upgrading its mobile network from 5G to 5G-A and broadband from gigabit to ten-gigabit [4] - These investments aim to enhance network capabilities and user experience, ensuring competitiveness in future technology advancements [4]

Core Insights - China Unicom reported Q3 2025 revenue of 92.78 billion yuan, flat year-on-year, with a net profit of 2.42 billion yuan, up 5.4% [1][2] - For the first three quarters of 2025, revenue reached 292.99 billion yuan, a 1.0% increase, while net profit was 8.77 billion yuan, growing by 5.2% [1][2] - China Mobile's Q3 2025 revenue was 250.9 billion yuan, a 2.5% increase, with a net profit of 31.1 billion yuan, up 1.4% [3][4] - In the first three quarters, China Mobile's revenue was 794.7 billion yuan, a 0.4% increase, and net profit was 115.4 billion yuan, up 4.0% [3][4] - China Telecom reported Q3 2025 revenue of 124.85 billion yuan, down 0.91%, with a net profit of 7.76 billion yuan, up 3.6% [6][7] - For the first three quarters, China Telecom's revenue was 394.27 billion yuan, a 0.59% increase, and net profit was 30.77 billion yuan, up 5.03% [6][7] Financial Performance - China Unicom's total assets at the end of Q3 2025 were 671.35 billion yuan, a slight decrease of 0.2% from the previous year [3] - The weighted average return on equity for China Unicom was 1.40%, an increase of 0.04 percentage points [3] - China Mobile's EBITDA for Q3 2025 was 794 million yuan, a decrease of 1.7%, with an EBITDA margin of 31.7% [6] - China Telecom's net cash flow from operating activities for the first three quarters was 87.31 billion yuan, down 10.37% [7] Earnings Per Share - China Unicom's basic and diluted earnings per share for Q3 2025 were both 0.078 yuan, reflecting a 5.4% increase [2][3] - China Mobile's basic and diluted earnings per share for Q3 2025 were 1.44 yuan and 1.43 yuan, respectively, both up 0.7% [6] - China Telecom's basic earnings per share for Q3 2025 were 0.08 yuan, an increase of 3.60% [7]

格隆汇10月22日丨中国联通(600050.SH)公布，公司拟分拆所属子公司联通智网科技股份有限公司 （称"智网科技"）至深圳证券交易所创业板上市；本次分拆上市不会导致公司丧失对智网科技的间接控 制权，不会对公司其他业务板块的持续经营运作构成实质性影响，不会损害公司独立上市地位和持续盈 利能力。本次分拆上市完成后，公司仍是智网科技的间接控股股东，其整体经营情况、财务及盈利状况 均将在上市公司合并报表中予以反映。 ...

本次分拆上市不会导致公司丧失对智网科技的间接控制权，不会对公司其他业务板块的持续经营运作构 成实质性影响，不会损害公司独立上市地位和持续盈利能力。本次分拆上市完成后，公司仍是智网科技 的间接控股股东，其整体经营情况、财务及盈利状况均将在上市公司合并报表中予以反映。 中国联通（600050）(600050.SH)发布公告，根据公司总体战略布局，公司拟分拆所属子公司联通智网 科技股份有限公司(简称"智网科技")至深交所创业板上市。 ...

Core Insights - China Unicom reported a revenue of 292.985 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 1% [1] - The net profit attributable to shareholders reached 8.772 billion yuan, up 5.2% year-on-year, while the net profit excluding non-recurring items was 7.623 billion yuan, reflecting a 10.9% increase [1] - The basic earnings per share stood at 0.281 yuan [1] Group 1: Business Performance - The mobile user base expanded to 356 million, with a net increase of 12.48 million users, while fixed broadband users reached 129 million, adding 6.79 million users [1] - The number of IoT connections surpassed 700 million, indicating a strong growth in connectivity [1] - The ARPU for bundled service users remained above 100 yuan, showcasing the value of user scale expansion [1] Group 2: Technological Advancements - The cloud revenue reached 52.9 billion yuan, with data center revenue increasing by 8.9% year-on-year to 21.4 billion yuan [1] - The company is enhancing its capabilities in computing power, achieving a total scale of over 35 EFLOPS [2] - Investments in R&D increased by 5.9% year-on-year, focusing on next-generation internet, big data, AI, and other key technologies [2] Group 3: Network Development - The company is committed to high-standard construction and efficient operations, significantly improving network capabilities [2] - The mobile network is being upgraded from 5G to 5G-A, and broadband from gigabit to 10-gigabit, enhancing user experience [2] - The company has received a license for satellite mobile communication services, indicating a strategic move into advanced technologies [2]

Core Viewpoint - China Unicom plans to spin off its subsidiary, Unicom Smart Network Technology Co., Ltd. (referred to as "Smart Network Technology"), for listing on the Shenzhen Stock Exchange's ChiNext board, aligning with the company's overall strategic layout [1] Group 1 - The spin-off will not result in the loss of indirect control over Smart Network Technology by China Unicom [1] - The spin-off will not have a substantial impact on the ongoing operations of other business segments of China Unicom [1] - The spin-off will not harm the independent listing status and continuous profitability of China Unicom [1] Group 2 - After the completion of the spin-off, China Unicom will remain the indirect controlling shareholder of Smart Network Technology [1] - The overall operating conditions, financial status, and profitability of Smart Network Technology will be reflected in the consolidated financial statements of China Unicom [1]

Core Insights - China Unicom reported a revenue of 292.985 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 1% [1] - The net profit attributable to shareholders reached 8.772 billion yuan, up 5.2% year-on-year, while the net profit excluding non-recurring items was 7.623 billion yuan, reflecting a 10.9% increase [1] - The basic earnings per share stood at 0.281 yuan [1] Group 1: Connectivity and User Growth - The mobile user base expanded to 356 million, with a net increase of 12.48 million users [1] - Fixed broadband users reached 129 million, with a net increase of 6.79 million users, marking the highest net growth in recent years [1] - The number of IoT connections surpassed 700 million, indicating a robust growth in connectivity [1] Group 2: Digital Transformation and Cloud Services - The cloud revenue amounted to 52.9 billion yuan, showcasing significant growth in computing power services [1] - Revenue from data centers was 21.4 billion yuan, reflecting an 8.9% year-on-year increase [1] - The company is enhancing the integration of 5G, AI, and industrial internet, serving over 20,000 customers with 5G virtual private networks [1] Group 3: Network Investment and Technological Advancements - The company is focused on high-standard construction and efficient operations, leading to significant improvements in network capabilities [2] - The mobile network is being upgraded from 5G to 5G-A, and broadband from gigabit to 10-gigabit, enhancing user experience [2] - Investment in research and development increased by 5.9% year-on-year, with a focus on next-generation internet, big data, AI, and other key technologies [2]

转自：证券时报 人民财讯10月22日电，中国联通(600050)10月22日公告，公司拟分拆所属子公司联通智网科技股份有限 公司（简称"智网科技"）至深圳证券交易所创业板上市。截至公告之日，公司通过间接控股子公司之中 国联合网络通信（香港）股份有限公司（0762.HK）的全资附属公司中国联合网络通信有限公司直接持 有智网科技68.88%的股份，中国联合网络通信有限公司通过其全资子公司联通创新创业投资有限公司 间接持有智网科技0.33%的股份。因此，中国联合网络通信有限公司为智网科技的控股股东，公司为智 网科技的间接控股股东。 ...

Group 1 - China Unicom (SH 600050) announced on October 22 that its 18th meeting of the 8th Board of Directors will be held on October 22, 2025, in Beijing, discussing the proposal for the spin-off of its subsidiary, Unicom Smart Network Technology Co., Ltd., for listing on the Shenzhen Stock Exchange's ChiNext board [1] - For the year 2024, China Unicom's revenue composition is 100.0% from the telecommunications industry [1] - As of the report date, China Unicom's market capitalization is 173.2 billion yuan [1]

中国联合网络通信股份有限公司 关于第二期限制性股票激励计划第二个、第三个 解锁期公司业绩条件达成的公告 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。 中国联合网络通信股份有限公司（以下简称"公司"）于2025年10月22 日召开的第八届董事会第十八次会议审议通过了《关于公司第二期限制性股 票激励计划第二个、第三个解锁期公司业绩条件达成的议案》。现将有关事 项说明如下： 证券代码：600050 证券简称：中国联通 公告编号：2025-050 一、本次激励计划授予已履行的相关程序 1、2021年12月31日，公司第七届董事会第九次会议审议通过了《关于公 司第二期限制性股票激励计划（草案）及其摘要的议案》《关于公司第二期 限制性股票激励计划授予实施考核管理办法（草案）的议案》及其他相关议 案。公司独立董事就本期限制性股票激励计划是否有利于公司的持续发展及 是否存在损害公司及全体股东利益的情形发表独立意见。 2、2021年12月31日，公司第七届监事会第四次会议审议通过了《关于公 司第二期限制性股票激励计划（草案）及其摘要的议案》《 ...