Financial Performance - The company's operating revenue for Q1 2022 was CNY 89,021,517,630, representing an increase of 8.2% year-on-year[4] - The net profit attributable to shareholders was CNY 2,030,970,354, reflecting a growth of 20.0% compared to the same period last year[4] - The company's main business revenue reached CNY 81,196,992,270, up by 9.8% year-on-year[4] - EBITDA for Q1 2022 was RMB 24.982 billion, a 5.9% increase from the previous year, while the total profit reached RMB 5.714 billion, and net profit attributable to the parent company was RMB 2.031 billion, up 20.0% year-on-year[12] - Net profit for Q1 2022 was CNY 4.63 billion, representing a 20.6% increase from CNY 3.84 billion in Q1 2021[19] - The total comprehensive income for Q1 2022 was CNY 4,787,857,848, an increase from CNY 4,066,834,308 in Q1 2021[20] Cash Flow and Liquidity - The net cash flow from operating activities decreased by 29.6%, amounting to CNY 14,277,388,002[4] - The company reported a decrease in cash flow from operating activities, which may impact future liquidity[4] - The company's cash and cash equivalents decreased to CNY 39.90 billion from CNY 46.27 billion at the end of 2021, a decline of 13.1%[17] - The cash inflow from operating activities was CNY 77,485,279,806 in Q1 2022, down from CNY 79,438,000,224 in Q1 2021[21] - The net cash flow from operating activities was RMB 4,425,173, compared to a negative RMB 8,341,521 in Q1 2021, indicating a significant improvement[27] - The net increase in cash and cash equivalents for Q1 2022 was RMB 11,907,657, compared to RMB 407,096,430 in Q1 2021, showing a decline in cash generation[27] Assets and Liabilities - Total assets at the end of the reporting period were CNY 589,363,245,987, a decrease of 0.7% from the end of the previous year[6] - The company's total assets stood at CNY 589.36 billion, down from CNY 593.28 billion at the end of 2021, a decrease of 0.7%[18] - Total liabilities decreased to CNY 248.37 billion from CNY 257.07 billion at the end of 2021, a reduction of 3.0%[18] - The company's total liabilities as of March 31, 2022, were CNY 871,859,068, compared to CNY 871,114,223 in the previous year[24] Research and Development - Research and development expenses increased by 75.0%, indicating a stronger focus on innovation and core technology capabilities[8] - Research and development expenses increased to CNY 666.64 million in Q1 2022, up 75.0% from CNY 380.89 million in Q1 2021[19] Market and Business Growth - The company is actively expanding its market presence and enhancing its innovation capabilities to drive growth in the digital economy[12] - The total number of "Big Connection" users reached 779 million, with 5G package users increasing to 171 million, contributing to a mobile main business revenue of RMB 41.986 billion, a 2.2% increase year-on-year[12] - The company's cloud services revenue surged to RMB 9.12 billion, a remarkable 114% increase year-on-year, while IDC revenue rose by 14.5% to RMB 6.231 billion[13] - The Internet of Things (IoT) terminal connections reached 313 million, with IoT business revenue growing by 40.7% to RMB 2.121 billion[12] Operational Efficiency - The company reported a 7.5% increase in network, operation, and support costs due to expanded network and operational scale, with personnel costs rising by 11.0% year-on-year[13] - The company played a crucial role in the Beijing Winter Olympics, achieving zero errors in network support and zero complaints in event services, earning recognition from the government[14] Strategic Focus - The company aims to continue implementing its new strategic plan focused on high-quality development and digital transformation, emphasizing the integration of five main responsibilities[14] Guarantees and Financial Services - The company provided a total of 35 non-financial guarantees in Q1 2022, amounting to RMB 45,176,051.80, with the guarantee balance not exceeding RMB 500 million[28] - The company has authorized its financial subsidiary to provide non-financial guarantees to its subsidiaries, with a total authorized amount of RMB 1.5 billion over three years[28] - The company’s financial subsidiary has been actively providing guarantees, with the latest guarantees issued covering various subsidiaries across different regions[29] - The total non-financial guarantee amount reached CNY 45,176,051.80[31]

Financial Performance - The total operating revenue for 2021 was CNY 327.85 billion, an increase of 7.9% compared to CNY 303.84 billion in 2020[18]. - The net profit attributable to shareholders for 2021 was CNY 6.31 billion, reflecting a growth of 14.2% from CNY 5.52 billion in 2020[18]. - The basic earnings per share for 2021 was CNY 0.206, up 15.7% from CNY 0.178 in 2020[19]. - The weighted average return on equity increased to 4.17% in 2021, up 0.44 percentage points from 3.73% in 2020[19]. - The net cash flow from operating activities for 2021 was CNY 111.97 billion, a 4.3% increase from CNY 107.33 billion in 2020[18]. - The total assets at the end of 2021 were CNY 593.28 billion, representing a 1.9% increase from CNY 582.48 billion at the end of 2020[18]. - The net assets attributable to shareholders at the end of 2021 were CNY 149.22 billion, a 1.0% increase from CNY 147.71 billion at the end of 2020[18]. - The main business revenue for 2021 was CNY 296.15 billion, which is a 7.4% increase from CNY 275.81 billion in 2020[18]. - The net profit after deducting non-recurring gains and losses for 2021 was CNY 6.45 billion, an 18.4% increase from CNY 5.45 billion in 2020[18]. - The EBITDA for the year was RMB 96.1 billion, up 2.3% compared to the previous year[25]. Dividends and Profit Distribution - The board proposed a cash dividend of 0.096 CNY per share for the fiscal year 2021, expecting to receive approximately 1.291 billion CNY from its subsidiary[4]. - The company plans to distribute a total of approximately 1.192 billion CNY in cash dividends to shareholders, amounting to 0.391 CNY per 10 shares[5]. - The company plans to utilize remaining distributable profits for future profit distribution, ensuring sustainable growth[5]. - After deducting daily expenses and taxes, the distributable profit for shareholders is estimated to be around CNY 11.99 billion[146]. - The company plans to distribute a cash dividend of approximately CNY 11.92 billion (including tax), with a proposed payout of CNY 0.391 per share[147]. Market and Competitive Landscape - The company has identified risks including market competition, regulatory policies, and technology iteration, which may impact future operations[7]. - The company faces ongoing market competition risks, with traditional telecom revenue growth slowing and a need to avoid price wars[103]. - Regulatory policies from the government may present both opportunities and challenges, requiring the company to adapt to changes in the telecom industry[104]. - The company is exploring potential mergers and acquisitions to enhance its service offerings and market share[122]. Technological Advancements and Innovations - The company aims to leverage its technological advancements in 5G and other areas to improve service quality and user experience[10]. - The company launched the CUBE-Net 3.0 network system, enhancing its digital infrastructure capabilities and maintaining industry-leading average latency in backbone networks[30]. - The company’s R&D expenses increased by 61.7% year-on-year, with the proportion of technology innovation personnel reaching 22% and the number of authorized patents growing by 120% to 1,128[33]. - The company is investing 10 billion RMB in research and development for new technologies, focusing on 5G and AI applications[124]. Customer Engagement and Market Expansion - The company is focused on expanding its market presence and enhancing user engagement through innovative marketing models like 2B2C and 2I2C[10]. - The company aims to enhance its autonomous innovation platform capabilities and key products to improve industry competitiveness and business value[33]. - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share by 2025[124]. - User satisfaction ratings improved to 85%, reflecting a 5% increase from the previous year[124]. Corporate Governance and Transparency - The company is committed to maintaining transparency and accuracy in its financial reporting, as confirmed by its auditors[3]. - The company emphasized compliance with information disclosure, receiving an A-level rating for its disclosure practices from the Shanghai Stock Exchange for the 2020-2021 period[109]. - The company maintained independence from its controlling shareholder in operations, assets, and financial management, ensuring compliance with relevant regulations[113]. - The company has established a performance evaluation mechanism for senior management based on operational performance and contractual obligations[151]. Environmental and Social Responsibility - The company has committed to achieving carbon neutrality goals, estimating annual electricity savings of over 17.5 billion kWh and cumulative CO2 emissions reduction of over 6 million tons through shared infrastructure[36]. - The company launched a "14th Five-Year Action Plan" for carbon peak and carbon neutrality, focusing on three management systems and five green development directions[158]. - The "Digital Village" initiative has served over 150,000 administrative villages across the country, promoting rural revitalization and digital transformation[163]. - The company has integrated its poverty alleviation efforts with rural revitalization, receiving recognition as a "National Advanced Collective" in poverty alleviation[160]. Leadership and Management - The current chairman of China Unicom is Liu Liehong, who has held the position since August 2021[125]. - Chen Zhongyue serves as both a director and the general manager of China Unicom since January 2021[125]. - The leadership team includes experienced professionals with long tenures in the telecommunications sector, enhancing strategic decision-making capabilities[125][126]. - The company has seen significant management turnover, with key positions filled by experienced individuals from various sectors, enhancing its leadership capabilities[121]. Financial Management and Investments - The company’s total cost and expenses amounted to RMB 309.24 billion, reflecting an increase of 8.9% year-on-year[62]. - The company’s capital expenditure for 2021 was RMB 69 billion, below the annual guidance of RMB 70 billion[25]. - The company’s financial subsidiary has not experienced any violations or business defaults, ensuring the safety of funds[176]. - The company has a regular credit rating review conducted by a credit rating agency, which occurs annually after the audit report is issued[199].

Financial Performance - Total operating revenue for Q3 2021 reached CNY 80.31 billion, an increase of 7.1% year-on-year[4] - Net profit attributable to shareholders was CNY 1.64 billion, reflecting a growth of 14.1% compared to the same period last year[4] - Basic earnings per share for the quarter stood at CNY 0.054, up 17.4% year-on-year[4] - The company's main business revenue for Q3 2021 was CNY 73.71 billion, up 6.8% from the same period last year[4] - The company reported a decrease of 3.8% in net profit after deducting non-recurring gains and losses, amounting to CNY 1.35 billion for the quarter[4] - The net profit attributable to the parent company was RMB 5.68 billion, an increase of 18.6% compared to the previous year[10] - The net profit for the third quarter of 2021 was CNY 12,926,450,784, an increase of 19.2% compared to CNY 10,844,766,807 in the same period of 2020[22] - The total comprehensive income for the third quarter of 2021 was CNY 13,168,919,260, compared to CNY 9,093,688,120 in Q3 2020, reflecting a year-over-year increase of 45.5%[22] Assets and Liabilities - Total assets at the end of the reporting period amounted to CNY 590.42 billion, a 1.4% increase from the end of the previous year[5] - The total equity attributable to shareholders increased to CNY 150.20 billion, a rise of 1.7% from the previous year-end[5] - The total liabilities were CNY 253.93 billion, slightly up from CNY 251.00 billion year-on-year[18] - The total assets as of September 30, 2021, amounted to CNY 590.42 billion, compared to CNY 582.48 billion at the end of the previous year[18] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 79.49 billion, showing a 3.5% increase year-on-year[4] - Cash flow from operating activities for the first three quarters of 2021 was CNY 79,488,482,605, compared to CNY 76,816,057,334 in the same period of 2020, indicating a growth of 3.5%[24] - Cash inflow from investment activities in the first three quarters of 2021 was CNY 34,574,805,842, significantly higher than CNY 18,633,807,012 in the previous year, marking an increase of 85.5%[24] - The net cash flow from financing activities for the third quarter of 2021 was -CNY 20,641,416,243, slightly improved from -CNY 21,942,683,449 in Q3 2020[26] - The total cash and cash equivalents at the end of Q3 2021 stood at CNY 25,445,501,460, an increase from CNY 21,279,952,784 at the end of Q3 2020[26] User Growth and Services - As of September 30, 2021, the total number of mobile billing users reached 31.55 million, with a net increase of 974.2 thousand users during the period[10] - The number of 5G package users reached 13.69 million, with a net increase of 6.61 million users[10] - The number of fixed broadband users reached 92.99 million, with a net increase of 6.90 million users[11] - Total mobile service revenue amounted to RMB 123.32 billion, representing a year-on-year increase of 5.8%[11] - Fixed broadband access revenue was RMB 33.34 billion, reflecting a year-on-year increase of 3.9%[11] - The revenue from the industrial internet business was RMB 40.93 billion, showing a significant increase of 25.3% year-on-year[11] Operating Costs - Operating costs for the same period were CNY 228.55 billion, up 9.6% from CNY 208.43 billion year-on-year[20] - The cost of sales for communication products increased by 22.8%, aligning with the revenue growth of 22.8% in communication products[19] - Network operation and support costs rose by 14.0% year-on-year, primarily due to increased costs associated with network and operational scale expansion[19] - The company reported a 9.8% increase in labor costs compared to the previous year, driven by ongoing reforms in the incentive mechanism and the introduction of innovative talent[19] Strategic Initiatives - The company aims to enhance its service capabilities in the new generation of information infrastructure and accelerate its digital transformation[19] - The company plans to leverage mixed reform and digital transformation to create greater value for shareholders, customers, and society[19] Share Repurchase - The company has repurchased a total of 513.31 million shares as of September 30, 2021[10]

Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.120 per share, expecting to receive approximately RMB 1.61 billion from its subsidiary[3]. - After deducting daily expenses and statutory reserves, the distributable profit for shareholders is estimated to be around RMB 1.5 billion[3]. - The total cash dividend distribution is projected to be approximately RMB 1.49 billion, based on the proposed distribution of RMB 0.488 per 10 shares[3]. - The board of directors has approved the profit distribution plan, pending shareholder meeting approval[3]. - The company plans to initiate a mid-term dividend of RMB 0.0488 per share based on strong operational performance and cash flow[25]. - The company plans to maintain the total amount of profit distribution unchanged, adjusting the per-share dividend ratio if there are changes in the total share capital before the record date[75]. Financial Performance - The company's operating revenue for the first half of 2021 was CNY 164.17 billion, an increase of 9.2% compared to CNY 150.40 billion in the same period last year[17]. - Main business revenue reached CNY 148.67 billion, reflecting a growth of 7.5% from CNY 138.33 billion year-on-year[17]. - Total profit for the period was CNY 11.24 billion, up 15.9% from CNY 9.70 billion in the previous year[17]. - Net profit attributable to shareholders was CNY 4.03 billion, representing a 20.6% increase from CNY 3.34 billion year-on-year[17]. - The net cash flow from operating activities was CNY 51.42 billion, a rise of 5.7% compared to CNY 48.64 billion in the same period last year[17]. - The company's total assets at the end of the reporting period were CNY 572.43 billion, down 1.7% from CNY 582.48 billion at the end of the previous year[17]. - The net assets attributable to shareholders increased to CNY 148.51 billion, a slight increase of 0.5% from CNY 147.71 billion year-on-year[17]. - Basic earnings per share for the first half of 2021 were CNY 0.131, up 21.3% from CNY 0.108 in the same period last year[18]. - The weighted average return on net assets increased to 2.68%, up 0.42 percentage points from 2.26% year-on-year[18]. - The company reported a net profit after deducting non-recurring gains and losses of CNY 4.17 billion, which is a 17.9% increase from CNY 3.54 billion in the previous year[17]. Operational Highlights - The company is focused on expanding its business through partnerships and innovative marketing strategies[8]. - The company aims to enhance its innovation capabilities in key sectors such as smart cities and industrial internet, leveraging 5G technology[22]. - The company has completed over 70% of its state-owned enterprise reform tasks, focusing on market-oriented reforms[23]. - The company opened 461,000 5G base stations, achieving coverage in major urban areas and core districts[23]. - The company had 310.5 million mobile billing users and 90.1 million fixed broadband users by the end of June 2021[21]. - In the first half of 2021, the company's mobile main business revenue reached RMB 82.1 billion, a year-on-year increase of 7.3%, the highest growth since 2018[27]. - The number of mobile billing users improved significantly, with a net increase of 4.65 million users, reaching a total of 310 million[27]. - The mobile user ARPU reached RMB 44.4, an increase of 8.5% year-on-year, indicating continuous optimization of user value[27]. - The total mobile internet traffic grew by 27.5%, with the average monthly data traffic per mobile user reaching approximately 12.2GB[27]. - The number of 5G package users reached 113 million, with a penetration rate of 36.5%, leading the industry[27]. Financial Position - The company's total liabilities as of June 30, 2021, amounted to RMB 237.69 billion, a decrease from RMB 251.00 billion as of December 31, 2020, representing a reduction of approximately 5.3%[119]. - The company's total equity attributable to shareholders was RMB 148.51 billion as of June 30, 2021, compared to RMB 147.71 billion at the end of 2020, reflecting a slight increase of approximately 0.5%[119]. - The company's cash and cash equivalents decreased to RMB 28.36 billion as of June 30, 2021, from RMB 35.22 billion at the end of 2020[117]. - The company's asset-liability ratio stood at 41.5% at the end of the first half of 2021[38]. - The company reported a beginning balance of CNY 10,510,092,986 in loans from its controlling shareholder, with a slight decrease of CNY 322,153 during the reporting period[91]. - The company’s controlling shareholder has a maximum credit limit of CNY 2.8 billion for interbank lending, with an actual maximum of CNY 100,243,750[92]. Risks and Compliance - The report highlights various risks including market competition, regulatory policies, and technological upgrades[5]. - The company is closely monitoring regulatory policy changes in the telecommunications industry, which may present both opportunities and challenges[67]. - The company has not reported any non-operational fund occupation by controlling shareholders or related parties[5]. - The company maintains a good integrity status, with no significant lawsuits or regulatory penalties reported during the period[87]. - The company expressed disappointment over the delisting of its American depositary shares from the NYSE due to U.S. government regulations, effective May 18, 2021[70]. Governance and Management - The company held its first and second extraordinary general meetings in March 2021, approving the appointment of new directors and the re-election of the board and supervisory committee[71]. - The company convened its annual general meeting on May 11, 2021, where several key resolutions were passed, including the approval of the 2020 annual report and financial statements[72]. - The company appointed Chen Zhongyue as president and elected several new directors during the reporting period[73]. - The company experienced changes in its board and senior management, with several resignations due to job relocations[74]. - The company aims to enhance its governance structure and long-term incentive mechanisms to motivate core management and key employees[96]. Research and Development - Research and development expenses increased by 52.0% year-on-year, reaching RMB 1.02 billion, reflecting the company's commitment to enhancing innovation capabilities[58]. - The company has encouraged independent innovation in energy-saving management solutions for 4G/5G networks, aiming to achieve industry-leading levels domestically[80]. Environmental Initiatives - The company has established a "carbon peak and carbon neutrality" action plan for the 14th Five-Year Plan, focusing on green and low-carbon development[80]. - The company is promoting the construction of a green network, including the development of green low-carbon data centers and the optimization of old equipment[80]. - The company has implemented a digital energy management system to control carbon emissions and promote green operations[81]. - The company has been recognized as a "National Advanced Collective in Poverty Alleviation" by the central government for its efforts in poverty alleviation and rural revitalization[82].

Financial Performance - In 2020, the company achieved a total operating revenue of RMB 275.8 billion, a year-on-year increase of 4.3%, surpassing the industry average growth of 3.6%[35]. - The total profit reached RMB 16 billion, with a net profit attributable to the parent company of RMB 5.5 billion, representing a year-on-year growth of 10.8%[35]. - The company maintained a strong free cash flow of RMB 39.7 billion, enhancing its financial strength[35]. - The board proposed a final dividend of RMB 0.0658 per share, an increase from RMB 0.0604 per share in 2019[35]. - The company's net profit is influenced by capital expenditures and financial costs, highlighting the importance of EBITDA for analyzing operational results in the capital-intensive telecom industry[51]. - The net profit attributable to shareholders was CNY 5.52 billion, reflecting a growth of 10.8% year-on-year[67]. - The company reported a net cash flow from operating activities of CNY 107.33 billion, up 11.6% from the previous year[67]. - The EBITDA for the year was RMB 93.9 billion, reflecting steady improvement in profitability[78]. - The company's total costs and expenses amounted to RMB 283.95 billion, reflecting a year-on-year increase of 4.0%[105]. - The company's asset-liability ratio at the end of 2020 was 43.1%, up from 42.7% at the end of the previous year[118]. User Growth and Market Penetration - The company had over 70.83 million 5G package users, with a penetration rate of 23%, exceeding the industry average of 20%[39]. - The number of mobile billing users reached approximately 305.81 million by the end of 2020, while fixed broadband users totaled about 86.10 million[74]. - The average revenue per user (ARPU) showed a significant increase, reflecting improved service offerings and customer engagement[59]. - The penetration rate of integrated services among fixed broadband users reached 64%, an increase of 5 percentage points year-on-year[86]. - As of the end of 2020, the mobile billing users reached 306 million, with a 16.5% year-on-year increase in mobile internet traffic[93]. Revenue Streams and Business Segments - The mobile service revenue reached RMB 156.7 billion, with the mobile ARPU increasing by 4.1% to RMB 42.1[38]. - The fixed broadband access revenue grew by 2.4% year-on-year, reaching RMB 42.6 billion, with a net increase of 2.62 million broadband users[40]. - The company's industrial internet business revenue increased by 30.0% year-on-year, reaching RMB 42.7 billion, accounting for 15.5% of total main business revenue[42]. - ICT business revenue was RMB 13.4 billion, up 33.4% year-on-year; IDC and cloud computing revenue reached RMB 23.4 billion, growing by 26.1%[42]. - The revenue from non-voice business reached RMB 240.32 billion, marking a year-on-year growth of 6.9%[104]. Capital Expenditures and Investments - Capital expenditures for the year were RMB 67.6 billion, with effective control over investment pace[35]. - The company completed capital expenditures of RMB 67.6 billion in 2020, with RMB 34 billion specifically allocated for 5G investments[130]. - The company held significant equity investments, including 20.65% of the shares in a Hong Kong-listed tower company and a 50% stake in a consumer finance company[130]. Technological Advancements and Innovations - The company launched three 5G private network products, enhancing its competitive edge in the market[39]. - The company established over 1,000 members in the 5G application innovation alliance, promoting industry collaboration[39]. - The company completed 100% migration of its cBSS system, enhancing its IT centralized advantages[46]. - The company aims to leverage the 5G development opportunity in 2021, focusing on innovation and digital transformation to enhance service quality and operational efficiency[49]. - The company launched its first MEC (Multi-access Edge Computing) commercial network in April 2020[55]. Corporate Governance and Social Responsibility - The company received multiple accolades, including being named the "Best Corporate Governance Company in Asia" by Finance Asia and ranked 286th in Forbes Global 2000[48]. - The company actively engaged in poverty alleviation efforts, increasing network coverage and offering special tariff packages for impoverished areas[158]. - The total funds allocated for poverty alleviation amounted to ¥26,331.87 million, with specific project investments totaling ¥14,604.2 million across 328 projects[159]. - The company was recognized as a "National Advanced Collective in Poverty Alleviation" by the central government, highlighting its commitment to social responsibility[160]. Future Outlook and Strategic Goals - The company aims to leverage the 5G scale development opportunity in 2021, focusing on innovation and digital transformation to enhance operational efficiency and service quality[92]. - The company plans to focus on digital transformation and differentiated operations, particularly in the 5G sector, to drive sustainable high-quality development[74]. - The company aims to become a leading comprehensive digital service provider by 2025, focusing on quality development and digital operational capabilities[137]. - The company is exploring potential acquisitions to strengthen its market position, with a budget of $I million earmarked for this purpose[200]. Management and Shareholder Structure - The company has established a restricted stock incentive plan to motivate core management and key employees, with 799,755,000 shares granted[168]. - The largest shareholder, China United Network Communications Group Co., Ltd., holds 11,399,724,220 shares, representing 36.8% of total shares[171]. - The company has undergone significant management changes, including the appointment of new board members and the election of Zhang Baoying as an employee supervisor[186]. - The company continues to expand its management team to enhance operational efficiency and strategic direction[186].

Financial Performance - Operating revenue for the period was CNY 82.27 billion, an increase of 11.4% year-on-year[5] - Net profit for the period reached CNY 3.84 billion, reflecting a growth of 21.3% compared to the same period last year[5] - The net profit attributable to shareholders of the listed company was CNY 1.69 billion, up 21.2% year-on-year[5] - Basic earnings per share for the period were CNY 0.055, representing a 22.2% increase year-on-year[5] - The company's total revenue for Q1 2021 was RMB 73.924 billion, an increase of 8.2% year-over-year, while the net profit attributable to the parent company was RMB 1.692 billion, up 21.2% from the previous year[12] - Net profit for Q1 2021 was CNY 3.84 billion, compared to CNY 3.16 billion in Q1 2020, representing a growth of 21.3%[26] - The company’s total comprehensive income for Q1 2021 was CNY 4.07 billion, compared to CNY 2.18 billion in Q1 2020, an increase of 86.5%[27] Assets and Liabilities - Total assets at the end of the reporting period were CNY 569.70 billion, a decrease of 2.2% compared to the end of the previous year[5] - The total liabilities of the company were RMB 234.33 billion, down from RMB 251.00 billion, marking a reduction of about 6.6%[24] - The company's equity attributable to shareholders was RMB 149.33 billion, an increase from RMB 147.71 billion, showing a growth of approximately 1.1%[24] - The company's cash and cash equivalents decreased by 31.9% to RMB 23.973 billion, primarily due to repayment of interest-bearing liabilities and payments for 5G project costs[15] - The total assets as of Q1 2021 amounted to CNY 106.13 billion, slightly down from CNY 106.29 billion at the end of Q1 2020[25] - The total liabilities for Q1 2021 were CNY 1.79 billion, a minor decrease from CNY 1.80 billion in Q1 2020[25] Cash Flow - The cash flow from operating activities was CNY 20.29 billion, an increase of 7.2% compared to the previous year[5] - Cash inflows from operating activities totaled CNY 79,438,000,224 in Q1 2021, up from CNY 67,549,020,418 in Q1 2020, reflecting a growth of approximately 17.5%[31] - Cash outflows from operating activities amounted to CNY 59,147,162,939 in Q1 2021, compared to CNY 48,612,711,472 in Q1 2020, which is an increase of about 21.5%[31] - The net cash flow from operating activities for Q1 2021 was CNY 20,290,837,285, compared to CNY 18,936,308,946 in Q1 2020, showing an increase of approximately 7.1%[31] - The cash and cash equivalents at the end of the period increased by approximately 25.4% compared to the beginning balance[34] User Growth and Revenue Streams - As of March 31, 2021, the total number of mobile billing users reached 309.293 million, with a net increase of 3.482 million users during the quarter, compared to a decrease of 3.371 million in the same period last year[10] - The number of 5G package users increased by 21.022 million to 91.852 million, significantly contributing to the growth of mobile billing users' ARPU, which rose by 11.5% to RMB 44.6[12] - Fixed broadband users reached 88.127 million, with a net increase of 2.032 million users in Q1 2021, and fixed broadband access revenue grew by 1.1% to RMB 10.905 billion[13] - The revenue from the industrial internet business surged by 25.9% year-over-year to RMB 14.408 billion, driven by the rapid growth of innovative business[13] Investments and Financial Management - Investment income increased by 129.0% to RMB 1.114 billion, mainly due to higher equity method investment income from joint ventures and other debt investments[16] - Financial expenses decreased significantly by 198.6% to -RMB 87.268 million, attributed to a reduction in interest expenses due to a decrease in interest-bearing liabilities[16] - The company plans to repurchase A-shares using between RMB 12.5 billion and RMB 25 billion, with a maximum price of RMB 6.5 per share, within a 12-month period starting from March 11, 2021[18] Management and Strategic Direction - The management team underwent changes, with Chen Zhongyue appointed as the new president, reflecting the company's commitment to strategic leadership and governance[17] - The company plans to continue focusing on innovation and digital transformation, aiming to enhance service quality and operational efficiency in the 5G era[14]

Dividend and Profit Distribution - The board of directors proposed a cash dividend of 0.164 CNY per share for the fiscal year 2020, subject to approval at the shareholders' meeting, with a total expected distribution of approximately 2.686 billion CNY[4]. - The company expects to distribute approximately 2.041 billion CNY (including tax) to shareholders, after deducting daily expenses and statutory reserves[4]. - The company reported a profit distribution plan that includes a total distributable profit of approximately 2.045 billion CNY after accounting for expenses and reserves[4]. - In 2020, the company reported a net profit attributable to shareholders of CNY 5.52 billion, with a dividend payout ratio of 36.96%[109]. Financial Performance - The company's operating revenue for 2020 was CNY 303.84 billion, an increase of 4.6% compared to 2019[19]. - The main business revenue reached CNY 275.81 billion, reflecting a growth of 4.3% year-on-year[19]. - Net profit attributable to shareholders was CNY 5.52 billion, representing a 10.8% increase from the previous year[19]. - Cash flow generated from operating activities amounted to CNY 107.33 billion, up by 11.6% compared to 2019[19]. - The company's total operating income for Q4 2020 was CNY 78.48 billion, with a net profit attributable to shareholders of CNY 737.51 million[22]. - The company maintained strong free cash flow of RMB 39.7 billion, enhancing its financial strength and stability[31]. - The company reported a total revenue of CNY 300 billion for the year 2020, representing a year-on-year growth of 5%[167]. - The company reported a net profit of RMB 30 billion for 2020, marking a 10% increase compared to the previous year[177]. Risk Management and Compliance - The company faces risks including market competition, regulatory changes, technology upgrades, and foreign exchange fluctuations, which are detailed in the operational discussion section[7]. - The company has a comprehensive risk management framework in place to address potential challenges in the telecommunications industry[7]. - The company has confirmed that all board members attended the board meeting, ensuring governance compliance[3]. - The company has not violated decision-making procedures in providing guarantees to external parties[6]. - The company will continue to monitor regulatory changes in the telecommunications industry to adapt to new opportunities and challenges[104]. - The company has no major litigation or arbitration matters during the reporting period[117]. - The company has a good integrity status, with no significant debts that have not been settled[118]. Technological Development and Innovation - The company is focusing on expanding its Internet of Things (IoT) business, which connects various smart devices for communication[11]. - The company plans to continue investing in 5G technology and infrastructure to support future growth[19]. - The company aims to leverage technologies such as 5G, IoT, and big data for future product and service development[27]. - The company is actively participating in the development and application of 5G technology, aiming to enhance its competitive edge in the telecommunications market[105]. - The company has been focusing on technological upgrades and the promotion of new business initiatives to maintain its market position[105]. - The company aims to achieve a market share of 25% in the IoT sector by 2023, driven by strategic partnerships and technological advancements[167]. User and Market Expansion - By the end of 2020, the company had approximately 305.81 million mobile billing users and 86.10 million fixed broadband users[27]. - The number of 5G package users reached 70.83 million, with a penetration rate of 23%, exceeding the industry average of 20%[34]. - The company aims to expand its market presence by entering into strategic partnerships with technology firms, targeting a 15% increase in service offerings by 2022[177]. - The company has set a target to achieve a 20% increase in broadband subscribers by the end of 2021[178]. Governance and Management - The company has established several strategic cooperation centers and joint laboratories with major tech firms to explore applications of AI, edge computing, and network slicing in 5G[40]. - The company is undergoing a board and supervisory committee restructuring, with proposals submitted for shareholder approval[162]. - The company emphasizes talent development and has established a systematic training plan for management and professional personnel to enhance their capabilities[185]. - The company has a strong governance structure with board members holding multiple positions across different entities, enhancing its influence in the telecommunications sector[175]. - The company continues to emphasize the importance of compliance and governance in its operations[162]. Social Responsibility and Community Engagement - The company has developed a targeted poverty alleviation plan, ensuring effective implementation of assistance projects[124]. - Total funding for poverty alleviation efforts amounted to CNY 26,331.87 million, with additional material contributions of CNY 96.11 million[126]. - A total of 42,778 individuals were lifted out of poverty through various initiatives, including 19,945 through industrial development projects[128]. - The company received recognition as a "National Advanced Collective in Poverty Alleviation" from the Central Government on February 25, 2021[130]. Shareholder Structure and Equity - The total number of ordinary shares at the end of the reporting period was 9,837,109,292, with a significant portion being restricted shares[141]. - The top ten shareholders held a total of 36.8% of the shares, with China United Network Communications Group Co., Ltd. being the largest shareholder at 11,399,724,220 shares[144]. - The company has not disclosed any related party transactions involving its directors and senior management during the reporting period[157]. - The company has committed to not transferring shares for 36 months following the acquisition of shares, ensuring stability in its shareholder structure[111].

Financial Performance - Net profit attributable to shareholders was CNY 4.78 billion, reflecting a year-on-year growth of 10.8%[4] - Operating revenue for the first nine months was CNY 225.36 billion, up 3.8% from the same period last year[4] - The company reported a net profit excluding non-recurring gains and losses of CNY 4.95 billion, a significant increase of 24.7% year-on-year[4] - The main business revenue reached CNY 207.35 billion, representing a growth of 4.4% compared to the previous year[4] - The total revenue for the first three quarters of 2020 was RMB 207.349 billion, a 4.4% increase year-over-year, with EBITDA of RMB 73.547 billion, up 0.5%[11] - The net profit attributable to the parent company for the first three quarters was RMB 4.784 billion, reflecting a 10.8% increase compared to the same period last year[11] - The mobile service revenue for the first three quarters was RMB 116.539 billion, a decrease of 1.0% year-over-year, but showed a 2.5% increase in the third quarter alone[12] - The company’s total comprehensive income for Q3 2020 was ¥2.43 billion, compared to ¥2.87 billion in Q3 2019, a decrease of 15.2%[25] - The total profit for the first three quarters of 2020 was CNY 2,089,534,132, compared to CNY 1,891,443,427 in the same period of 2019, indicating an increase of about 10.5%[27] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 572.42 billion, an increase of 1.5% compared to the end of the previous year[4] - The company's total assets amounted to CNY 572.42 billion, an increase from CNY 564.23 billion at the end of 2019, reflecting a growth of approximately 1.05%[19] - The total liabilities of the company stood at CNY 242.77 billion, slightly up from CNY 240.73 billion, marking an increase of about 0.85%[20] - The company’s total current assets increased to CNY 111.38 billion from CNY 83.60 billion, representing a growth of approximately 33.3%[19] - The company’s short-term borrowings decreased significantly to CNY 1.09 billion from CNY 5.61 billion, a reduction of approximately 80.6%[20] - Total liabilities as of Q3 2020 were ¥1.82 billion, down from ¥2.99 billion in Q2 2020, indicating a decrease of 39.4%[22] Cash Flow - Cash flow from operating activities for the first nine months was CNY 76.82 billion, showing a slight increase of 0.1% year-on-year[4] - The net cash flow from operating activities for the first three quarters of 2020 was CNY 76,816,057,334, slightly higher than CNY 76,770,788,925 in the same period of 2019[30] - The cash and cash equivalents at the end of Q3 2020 amounted to CNY 21,279,952,784, down from CNY 29,461,065,063 at the end of Q3 2019, a decrease of about 27.7%[29] - The company reported a decrease in cash flow from financing activities, with a net cash outflow of CNY -21,942,683,449 in the first three quarters of 2020, compared to CNY -29,610,403,282 in the same period of 2019[29] User Metrics - As of September 30, 2020, the total mobile billing users decreased by 929,300 to 30,918,200, while 4G users increased by 1,268,300 to 26,644,900[11] - Fixed broadband users increased by 3.08 million to 8,655,800, with broadband access revenue reaching RMB 32.096 billion, up 3.7% year-over-year[12] Expenses and Investments - The company’s sales expenses decreased by 12.6% to RMB 22.465 billion, attributed to the digital transformation and cost control measures[15] - R&D expenses surged by 141.5% to RMB 1.179 billion, reflecting increased investment in technology development[15] - Research and development expenses in Q3 2020 were ¥505 million, significantly higher than ¥184 million in Q3 2019, reflecting a 174.5% increase[23] Future Strategies - Future strategies include deepening the focus on innovation and cooperation, enhancing core capabilities in government and enterprise services, and promoting digital transformation[13]

Financial Performance - The total operating revenue for the first half of 2020 was CNY 150.40 billion, an increase of 3.8% compared to the same period last year [17]. - The main business revenue reached CNY 138.33 billion, reflecting a growth of 4.0% year-on-year [17]. - The total profit amounted to CNY 9.70 billion, which is a 12.1% increase from the previous year [17]. - The net profit attributable to shareholders was CNY 3.34 billion, up by 10.9% compared to the same period last year [17]. - The net cash flow from operating activities was CNY 48.64 billion, representing an 11.6% increase year-on-year [17]. - The net assets attributable to shareholders at the end of the reporting period were CNY 145.77 billion, a 1.7% increase from the end of the previous year [17]. - The total assets reached CNY 570.13 billion, showing a 1.0% increase compared to the previous year [17]. - Basic earnings per share for the first half of 2020 were CNY 0.108, an increase of 11.3% year-on-year [18]. - The diluted earnings per share also stood at CNY 0.108, reflecting the same growth rate of 11.3% [18]. - The weighted average return on net assets increased to 2.26%, up by 0.18 percentage points from the previous year [18]. Market and Business Strategy - The company is focused on expanding its market presence and exploring new business strategies [8]. - The company emphasizes the importance of strategic partnerships to enhance customer service capabilities and extend business coverage [8]. - The company is actively promoting 5G business development, introducing 5G packages and enhancing user experience through partnerships in content and applications [28]. - The company plans to deepen cooperation in 5G and vertical industry applications to drive innovation and growth in the digital transformation era [31]. - The company is focusing on digital transformation and innovation in services, leveraging technologies such as 5G, IoT, and big data [21]. Risks and Challenges - The report highlights the risks of intensified industry competition, regulatory changes, technology upgrades, and interest and exchange rate fluctuations [6]. - Future operational plans and strategic developments are discussed, but they do not constitute a commitment to investors [5]. Capital Expenditure and Investments - Capital expenditure for the first half of 2020 was RMB 25.8 billion, effectively controlled to maintain strong free cash flow of RMB 22.9 billion [25]. - The company completed the construction of 100,000 5G base stations ahead of schedule, achieving average download speeds of 725 Mbps and upload speeds of 89 Mbps [23]. - Total capital expenditure for the first half of 2020 reached RMB 25.77 billion, with RMB 12.6 billion specifically allocated for 5G investments [64]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 664,253 [99]. - The largest shareholder, China United Network Communications Group Co., Ltd., holds 11,399,724,220 shares, representing 36.7% of total shares [100]. - The top ten shareholders include entities such as Tencent and Alibaba, with Tencent holding 1,610,541,728 shares (5.2%) and Alibaba holding 633,254,734 shares (2.0%) [101]. - The company has a total of 3,177,159,590 shares under lock-up conditions, which will be tradable after October 31, 2020 [106]. Corporate Governance and Compliance - The board of directors has confirmed the accuracy and completeness of the financial report, ensuring no significant omissions or misleading statements [2]. - The report is unaudited, indicating that the financial figures may be subject to change upon final audit [3]. - The company has no significant litigation or arbitration matters during the reporting period [76]. - The company has maintained a good integrity status, with no unfulfilled court judgments or significant debts due [77]. Social Responsibility and Community Engagement - The company has implemented a targeted poverty alleviation plan, ensuring effective support for designated poverty alleviation projects [83]. - Total funding for poverty alleviation reached CNY 16,597.7 million, with material donations valued at CNY 8.14 million [85]. - A total of 11,341 individuals were lifted out of poverty through various initiatives during the reporting period [85]. - The company plans to enhance network poverty alleviation efforts and implement preferential pricing policies for impoverished populations [90]. Financial Management and Assets - The company reported a current ratio of 44.33%, an increase of 7.02 percentage points compared to the previous year, primarily due to an increase in other current assets and accounts receivable [120]. - The company achieved an EBITDA interest coverage ratio of 43.46, up 27.26% from the same period last year, mainly due to a reduction in interest expenses [120]. - The debt-to-asset ratio decreased to 47.71%, down 0.62 percentage points from the previous year, primarily due to a reduction in interest-bearing liabilities [120]. - The company maintained a loan repayment rate of 100% during the reporting period [120]. Research and Development - Research and development expenses surged by 121.7% to RMB 673.53 million, reflecting increased investment in technology innovation [60]. Revenue Recognition and Accounting Policies - The company recognizes revenue when it fulfills its performance obligations, which occurs when users gain control of the related goods or services [188]. - Revenue from voice call fees and monthly rental fees is recognized during the provision of services [190]. - The company confirms revenue from the sale of communication products when the end user accepts and gains control of the product [191].