财联社11月13日讯（编辑 胡家荣） 受益全球6G发展大会这一利好，部分港股电信股走强。截至发稿， 中国联通(00762.HK)、中国电信(00728.HK)、中国移动(00941.HK)分别上涨3.34%、3.04%、1.88%。 消息方面，2024年全球6G发展大会于2024年11月13-14日在上海市松江区举行，本次大会主题为"领航新 征程，眺望6G标准前沿"。据悉，IMT-2030(6G) 推进组等主办的"全球6G发展大会"是国内6G领域技术 覆盖最全面、专业水平最高、影响力最大的国际盛会。 作为5G之后的下一代通信技术，当前全球社会对6G抱有技术期许和应用期待。6G实现从"纯连接"至"连 接+感知+智能"的转变，通信网络向信息网络升级。 中国移动研究院6G首席专家刘光毅表示，6G技术正逐渐接近技术标准制定、产业推进和应用培育的研 究阶段，有望在2030年具备商用能力，届时将超越传统通信范畴，在无人机、家用机器人等领域形成广 泛应用场景。 机构称三大电信运营商股息率 2024年上半年，我国电信业务收入累计完成8941亿元，同比增长3%，增速较一季度下降1.5个百分点。 按照上年不变价计算的电信业务总量 ...

Investment Rating - The report maintains a "Buy" rating for China Unicom [7][5] Core Insights - In Q3 2024, China Unicom demonstrated solid performance with steady revenue growth and improved profitability. The company aims for stable revenue growth and double-digit profit growth for the full year [5][3] - The company's operating revenue for Q1-Q3 2024 reached 290.1 billion yuan, a year-on-year increase of 3.0%, with a net profit attributable to shareholders of 8.3 billion yuan, up 10.0% year-on-year [2][3] - The cash flow situation has significantly improved, with expectations for a notable reduction in accounts receivable in Q4 2024 [4][5] Summary by Sections Revenue and Profitability - For Q3 2024, the company achieved operating revenue of 92.8 billion yuan, a 3.3% increase year-on-year, and a net profit of 2.3 billion yuan, up 7.7% year-on-year [3][4] - The communication service revenue for Q1-Q3 2024 was 258.8 billion yuan, growing by 2.5% year-on-year [3] User Growth - The mobile user base reached 345 million, with a net increase of 11.23 million users, the highest in nearly six years. The penetration rate of 5G packages rose to 83% [3][4] - The fixed broadband user count reached 121 million, with a net increase of 7.12 million users [3] Cloud and Computing Business - Revenue from cloud services reached 43.86 billion yuan, a year-on-year increase of 19.5%. The data center revenue was 19.69 billion yuan, up 6.8% year-on-year [4] - The company is enhancing its 5G+ industrial internet brand influence, with 14,013 customers served by its 5G industry virtual private network [4] Cash Flow and Depreciation - Operating cash flow for Q3 2024 was 28.1 billion yuan, showing significant improvement compared to previous quarters [4] - The company plans to extend the depreciation period for 4G equipment from 7 years to 10 years, which is expected to reduce depreciation expenses by approximately 1.1 to 1.2 billion yuan in 2024 [5]

证券代码：600050 证券简称：中国联通 公告编号：2024-066 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 授予股票第一个解锁期解锁暨上市的公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 本次股票上市类型为股权激励股份；股票认购方式为网下，上市 股数为 31,448.82 万股。 本次股票上市流通总数为 31,448.82 万股。 本次股票上市流通日期为 2024 年 11 月 18 日。 一、第二期激励计划批准及实施情况 （一）第二期激励计划履行的程序 1.2021年12月31日，中国联合网络通信股份有限公司（以下简称 "公司"）第七届董事会第九次会议和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》 《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。 2.2022年4月，公司控股股东中国联合网络通信集团有限公司收到 国务院国有资产监督管理委员会（以下简称"国资委"）出具的"关于 中国联通实施第 ...

在本法律意见书中，除非文中另有特别说明，下列词语应具有如下含义： | 公司 | 指 | 中国联合网络通信股份有限公司 | | --- | --- | --- | | A股 | 指 | 经证监会核准向境内投资者发行、在境内证券交易所上 | | | | 市、以人民币标明股票面值、以人民币认购和进行交易的 | | | | 普通股 | | 本次激励计划 | 指 | 中国联合网络通信股份有限公司拟实施的第二期限制性股 | | | | 票激励计划 | | 《激励计划(草案)》 | 指 | 《中国联合网络通信股份有限公司第二期限制性股票激励 | | | | 计划(草案)》 | | 《激励计划(草案修 | 指 | 《中国联合网络通信股份有限公司第二期限制性股票激励 | | 订稿)》 | | 计划(草案修订稿)》 | | 《考核管理办法(草 | 指 | 《中国联合网络通信股份有限公司第二期限制性股票激励 | | 案)》 | | 计划授予实施考核管理办法(草案)》 | | 激励对象 | 指 | 依据本次激励计划获授限制性股票的人员 | | 《公司章程》 | 指 | 中国联合网络通信股份有限公司章程 | | 限制性股票 | 指 | ...

证券时报e公司讯，通信世界网消息（CWW）11月8日，由中关村数字经济产业联盟主办，中国联合网 络通信集团有限公司政企客户事业群、联通数字科技有限公司、中国联合网络通信有限公司北京市分公 司承办的"创新驱动变革 同舟共赴未来——2024企业数字化转型大会"成功召开。 会上，中国联通发布了四项以"同舟"平台为基的重大创新成果。 "同舟"企业数字化使能平台全面覆盖业务、数据、AI、技术、运维、信创六大核心领域，为大中型企业 提供一站式数字化转型解决方案。 ...

第八届董事会第八次会议决议 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。 一、董事会会议召开情况 证券代码：600050 证券简称：中国联通 公告编号：2024-065 （一）本次董事会会议的召开符合法律、行政法规、部门规章、规范性文 件和《公司章程》的规定。 中国联合网络通信股份有限公司 （二）本次会议的会议通知于2024年11月4日以电子邮件形式通知了公司 全体董事、监事以及其他参会人员。所有参会人员确认已经充分了解并知悉会 议审议事项和内容，无任何异议。 （同意：13 票 反对：0 票 弃权：0 票） （二） 审议通过了《关于公司宁夏中卫云数据中心 DC4、DC6 相关建设事 1 项的议案》。 本议案已经董事会发展战略委员会审议通过。 （同意：13 票 反对：0 票 弃权：0 票） （三）本次会议于2024年11月8日以通信方式召开。 （四）会议应出席董事13名，亲自出席董事13名。会议出席情况符合《公 司章程》的规定。 二、董事会会议审议情况 （一） 审议通过了《关于公司河北怀来数据中心相关建设事项的议案》。 ...

Investment Rating - The report maintains a "Buy-A" rating for China Unicom, indicating an expected price increase of over 15% relative to the benchmark index [2][4]. Core Views - China Unicom's performance in 2024 shows a steady revenue growth of 3.0% year-on-year, with total revenue reaching 290.12 billion yuan and a net profit of 8.34 billion yuan, reflecting a 10.0% increase [2][3]. - The company is focused on optimizing user structure and expanding its Internet of Things (IoT) connections, with mobile users reaching 345 million and 5G package users at 286 million, achieving an 83% penetration rate [3][4]. - The report anticipates a continued double-digit profit growth and a reduction in capital expenditures, targeting around 65 billion yuan for 2024, a decrease of 12% year-on-year [1][4]. Financial Performance Summary - For the fiscal years 2024 to 2026, the projected net profits are 9.13 billion yuan, 10.10 billion yuan, and 11.12 billion yuan, respectively, with year-on-year growth rates of 11.7%, 10.6%, and 10.1% [4][6]. - The earnings per share (EPS) are expected to be 0.29 yuan, 0.32 yuan, and 0.35 yuan for the same period, with corresponding price-to-earnings (P/E) ratios of 17.6, 15.9, and 14.4 [4][6]. - The gross margin is projected to improve slightly from 24.5% in 2023 to 24.7% in 2026, indicating effective cost management [4][6]. Market Position and Strategy - The company is enhancing its network infrastructure, with a focus on 5G and IoT services, aiming to create new revenue streams through product and service integration [3][4]. - China Unicom is also investing in AI and data center capabilities, with a projected 2,503 AI servers to be deployed in over 20 large-scale computing centers [3][4].

Investment Rating - The report assigns a "Buy" rating for China Unicom (600050.SH) with a target price of 5.80 RMB, based on a 20x PE for 2024 [2][3]. Core Insights - China Unicom has maintained a double-digit growth in net profit, achieving a net profit of 8.173 billion RMB in 2023, a year-on-year increase of 12% [2][6]. - The company emphasizes high shareholder returns, with a dividend per share of 0.132 RMB in 2023, up 21.1% from the previous year, resulting in a dividend payout ratio of 50.54% [2][27]. - The company is transitioning its focus from traditional communication services to high-growth areas such as cloud computing and digital services, with revenue from its digital business reaching 75.2 billion RMB in 2023, accounting for 23.5% of total revenue [2][11]. Summary by Sections 1. Company Overview - China Unicom has been in operation for 30 years and has undergone significant reforms since 2018, focusing on mixed ownership and industrial internet development [2][18]. - The company has consistently outperformed its peers in net profit growth, particularly in the context of a slowing macroeconomic environment [2][28]. 2. Business Performance - The telecom business has shown steady growth, with total revenue reaching 1.68 trillion RMB in 2023, a 6.2% increase year-on-year [2][39]. - The mobile user base has grown to 340 million, with a net addition of over 6 million users in the first half of 2024, marking the highest growth in five years [2][6]. 3. Financial Projections - Revenue projections for 2024-2026 are 386.62 billion RMB (+3.76%), 400.95 billion RMB (+3.71%), and 415.46 billion RMB (+3.62%) respectively [2][5]. - Expected net profits for the same period are 9.069 billion RMB (+10.97%), 9.996 billion RMB (+10.23%), and 10.997 billion RMB (+10.01%) [2][5]. 4. Digital Business Growth - The digital business, including cloud services, has become a key growth driver, with cloud revenue reaching 51 billion RMB in 2023, a 41.6% increase [2][11]. - The company is investing in AI and data center capabilities, with a focus on enhancing its digital service offerings [2][11]. 5. Capital Expenditure Trends - Capital expenditures have entered a downward trend, with a focus on optimizing costs and enhancing profitability [2][44]. - In the first half of 2024, capital expenditures for China Unicom were 239 billion RMB, reflecting a decrease compared to previous years [2][44].

Investment Rating - The report maintains a rating of "Accumulate" for China Unicom (600050) [1][4][12] Core Views - China Unicom's revenue for the first three quarters of 2024 reached 290.12 billion yuan, a year-on-year increase of 3.0%, with net profit attributable to shareholders at 8.34 billion yuan, up 10.0% year-on-year [1][4] - The company aims for steady revenue growth and double-digit profit growth in 2024, with a projected net profit of 9.00 billion yuan for 2024, increasing to 10.76 billion yuan by 2026 [4][5] - The report highlights the rapid development of cloud computing services, with revenue from cloud services reaching 43.86 billion yuan, a year-on-year increase of 19.5% [1][3] Summary by Sections Financial Performance - In Q3 2024, China Unicom achieved revenue of 92.78 billion yuan, a 3.3% increase year-on-year, and a net profit of 2.30 billion yuan, up 7.7% [1][4] - The company reported a gross margin of 26.02% for the first three quarters of 2024, an increase of 0.84 percentage points year-on-year [1][4] User Growth - The number of mobile users reached 345 million, with a net increase of 11.23 million users, marking the highest growth in six years [1][3] - The penetration rate of 5G package users reached 83%, with 286 million users [1][3] Capital Expenditure and Future Outlook - Future capital expenditures are expected to decrease as the company adjusts the depreciation period for equipment, which will enhance performance release capabilities [2][4] - The report anticipates a decline in the capital expenditure-to-revenue ratio, which is expected to improve the company's earnings release capacity [4][5] Dividend Policy - The company plans to distribute a mid-term dividend of 0.0959 yuan per share, reflecting a year-on-year increase of 20.5% [2][4]

时间到了我们开始好女士们先生们大家下午好我是孟树森今天非常高兴能在这里与各位再次见面也非常感谢各位长期以来对中国联通的关心支持我谨代表公司管理层热烈欢迎大家出席中国联通2024年度业绩发布会 今天的发布会有两个环节首先是公司董事长的演讲然后是管理层与各位媒体投资者和分析师朋友的交流环节在交流期间管理层会回答业绩发布会讨论范围以内的问题如果因为时间关系我们还有一些感兴趣的问题 没有在会上回答我们在会后会由公司投资者关系部积极进行跟进本次发布会将以中文进行并且配有英文的同声传译会议期间请各位朋友将手机置于震动或关闭的状态首先请允许我介绍今天出席会议的公司董事会成员和管理层 他们是董事长兼首席执行官陈忠岳先生执行董事兼总裁简勤先生执行董事王俊智先生高级副总裁唐永博先生 营业收入稳健增长达到3896亿元同比提升4.6%增速领先行业盈利能力持续提升净利润达到206亿元同比提升10.1%净资产收益率提升至5.8% 联网通信稳盘托底用户规模再创新高移动和宽带用户数达到4.7亿竞争1952万物联网连接数超过6.2亿竞争1.3亿车联网连接数达到7600万保持行业第一 格物工业互联网平台纳管设备超过1200万台占全国1%算网数字 ...