神州数码：子公司预中标中国电信服务器采购项目 财联社10月21日电，神州数码公告，其控股子公司 北京神州数码云科信息技术有限公司成为中国电信服务器（2024-2025年）集中采购项目中标候选人之 一。 子公司为标包4和标包9的中标候选人，标包4的投标报价为59.33亿元（含税），中标份额11%；标包9 的投标报价为22.91亿元（含税），中标份额10%。 预中标项目的供货产品为神州鲲泰系列通用服务器和AI服务器，如项目顺利中标并实施，预计将对公 司未来信息技术应用创新业务和整体经营业绩产生积极影响。 但项目目前尚处于中标候选人公示期，存在一定的不确定性。 查看公告原文 ...

证券代码：601728 证券简称：中国电信 公告编号：2024-047 中国电信股份有限公司 2024 年 9 月主要运营数据公告 中国电信股份有限公司 2024 年 9 月主要运营数据如下： | 单位：万户 | 2024 年 9 月 | | --- | --- | | 移动用户数 | 42,267 | | 当月净增/减用户数 | 193 | | 当年累计净增/减用户数 | 1,490 | | 其中：5G 套餐用户数 | 34,506 | | 当月净增/减用户数 | 217 | | 当年累计净增/减用户数 | 2,640 | | 有线宽带用户数 | 19,626 | | 当月净增/减用户数 | 122 | | 当年累计净增/减用户数 | 610 | | 固定电话用户数 | 9,800 | | 当月净增/减用户数 | -40 | | 当年累计净增/减用户数 | -302 | 1 本公司谨此提醒投资者，上述运营数据为内部统计数据， 并不代表公司对未来经营情况的任何预测或保证，投资者应 注意不恰当地使用上述数据可能造成的投资风险。 中国电信股份有限公司 二〇二四年十月二十一日 2 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2024年9月30日 狀態: 新提交 致：香港交易及結算所有限公司 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00728 | 說明 | H 股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 13,877,410,000 | RMB | | 1 RMB | | 13,877,410,000 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 13,877,410,000 | RMB | | 1 RMB | | 13,877,410,000 | | 2. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 (註1) | | 否 ...

中国电信股份有限公司 二〇二四年九月二十日 证券代码：601728 证券简称：中国电信 公告编号：2024-046 中国电信股份有限公司 2024 年 8 月主要运营数据公告 中国电信股份有限公司 2024 年 8 月主要运营数据如下： | 单位：万户 | 2024 年 8 月 | | --- | --- | | 移动用户数 | 42,074 | | 当月净增/减用户数 | 168 | | 当年累计净增/减用户数 | 1,297 | | 其中：5G 套餐用户数 | 34,289 | | 当月净增/减用户数 | 314 | | 当年累计净增/减用户数 | 2,423 | | 有线宽带用户数 | 19,504 | | 当月净增/减用户数 | 73 | | 当年累计净增/减用户数 | 488 | | 固定电话用户数 | 9,840 | | 当月净增/减用户数 | -34 | | 当年累计净增/减用户数 | -262 | 1 本公司谨此提醒投资者，上述运营数据为内部统计数据， 并不代表公司对未来经营情况的任何预测或保证，投资者应 注意不恰当地使用上述数据可能造成的投资风险。 2 ...

Financial Performance - The company reported a profit attributable to shareholders of RMB 21.81 billion for the first half of 2024, with a proposed dividend distribution of RMB 15.29 billion, translating to a dividend of RMB 0.1671 per share[3]. - In the first half of 2024, the company's operating revenue reached RMB 268 billion, a year-on-year increase of 2.8%, with service revenue at RMB 246.2 billion, growing by 4.3%[11]. - EBITDA for the first half of 2024 was RMB 76.8 billion, reflecting a year-on-year growth of 4.7%, while net profit increased by 8.2% to RMB 21.8 billion[21]. - The number of mobile users increased by 9.08 million, bringing the total to 417 million, with an ARPU of RMB 46.3[21]. - The company's industry digitalization revenue reached RMB 73.7 billion, a year-on-year increase of 7.2%, accounting for 30.0% of service revenue, up 0.8 percentage points[21]. - The company plans to distribute an interim dividend of RMB 0.1671 per share, a 16.7% increase year-on-year, with a goal to raise cash distributions to over 75% of profits within three years[21]. Subscriber and User Growth - The total number of subscribers reached 391 million, with a year-on-year increase of 5.2%[3]. - The number of 5G mobile users reached 927 million, with a penetration rate increase of 14.3 percentage points year-on-year[11]. - The broadband user base grew by 3.19 million to 193 million, with a comprehensive ARPU of RMB 48.3, while smart home business revenue rose 14.4% to RMB 10.7 billion[21]. Research and Development - Investment in research and development increased by 12% year-on-year, emphasizing the company's commitment to innovation and technology advancement[3]. - R&D expenses increased by 12.5% year-on-year, with the number of researchers growing by 15.3% to over 10,000[15]. - The company achieved a 40.4% year-on-year growth in self-developed technology results, with self-developed IT systems and business platforms accounting for 50.4%, an increase of 9.5 percentage points[25]. Technological Advancements - The company is focusing on enhancing its digital infrastructure, with over 1.31 million 5G base stations deployed, achieving continuous coverage in towns and above[13]. - The company has established a leading AI computing infrastructure with a computing power of 21 EFLOPS, supporting various AI application needs[13]. - The company aims to enhance its service offerings through the integration of artificial intelligence and big data technologies[3]. - The company launched the world's first satellite direct connection service for vehicles, enhancing its product offerings for individual users[14]. Strategic Initiatives - The company is exploring strategic partnerships for market expansion, particularly in the Internet of Things (IoT) and cloud computing sectors[3]. - The company aims to accelerate the development of strategic emerging businesses, focusing on cloud computing, big data, and AI, among others[10]. - The company has established over 110 digital platforms to support digital transformation in key industries such as government, education, and finance[15]. Environmental and Social Responsibility - The company has actively engaged in environmental protection and pollution prevention through digital technology, enhancing ecological monitoring capabilities in Hainan[58]. - The company has achieved a double-digit reduction in carbon emissions per unit of telecom business volume in the first half of 2024[59]. - The company is expanding its green energy initiatives, including participation in green electricity acquisition and the establishment of distributed energy systems[59]. Corporate Governance and Compliance - The company has maintained compliance with corporate governance codes and has strengthened internal control systems to protect shareholder interests[57]. - The company ensures compliance with legal regulations regarding the procedures for convening and conducting shareholders' meetings[54]. - The company has been recognized as an outstanding enterprise in technological innovation by the State-owned Assets Supervision and Administration Commission[15]. Market Risks and Challenges - The company has identified potential risks related to economic and policy environments, as well as cybersecurity threats, which could impact future performance[3]. - International business expansion faces increased uncertainty due to changing policies in host countries, and the company aims to improve its overseas compliance management and risk assessment[41]. - The company faces uncertainties in emerging business risks related to digital services and competition in areas like large models and intelligent computing cloud[40].

Investment Rating - The report maintains a "Buy" rating for China Telecom, expecting the stock price to outperform the industry index by over 15% in the next six months [4][14]. Core Views - China Telecom is entering a new phase in its Tianyi Cloud services, with applications blooming across multiple areas, driving ARPU growth. The company is focusing on technology innovation and maintaining high capital expenditure to support emerging strategic businesses [2][8]. - The company has achieved stable growth in its core business, with significant increases in mobile communication service revenue and value-added services [2]. - The report forecasts revenue growth from 2024 to 2026, projecting revenues of CNY 560.71 billion, CNY 623.90 billion, and CNY 697.52 billion, respectively, along with net profits of CNY 33.87 billion, CNY 38.10 billion, and CNY 43.45 billion [8]. Financial Performance Summary - In the first half of 2024, China Telecom reported a revenue of CNY 266 billion, a year-on-year increase of 2.8%, and a net profit of CNY 21.8 billion, up 8.2% year-on-year [1]. - The company’s mobile ARPU reached CNY 46.3, a slight increase of 0.2% year-on-year, while mobile value-added and application revenue grew by 17.1% to CNY 18.1 billion [2]. - The Tianyi Cloud revenue for the first half of 2024 was CNY 55.2 billion, reflecting a growth of 20.4% year-on-year [2]. Capital Expenditure and Shareholder Returns - In the first half of 2024, the company completed capital expenditures of CNY 47.2 billion, with a completion rate of 49%, focusing on 5G network coverage and digital business support [2]. - The interim dividend per share was set at CNY 0.1671, a 16.7% increase year-on-year, with a payout ratio of 70%, up 5 percentage points [3].

证券代码：601728 证券简称：中国电信 公告编号：2024-045 中国电信股份有限公司 2024 年半年度 A 股利润分配实施公告 每股分配比例 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： A 股每股现金红利 0.1671 元（含税） 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息） | 现金红利发 | | --- | --- | --- | --- | --- | | | | | 日 | 放日 | | Ａ股 | 2024/9/10 | － | 2024/9/11 | 2024/9/11 | 差异化分红送转： 否 一、 通过分配方案的股东大会届次和日期 中国电信股份有限公司（以下简称"公司"）于 2024 年 5 月 27 日 召开 2023 年年度股东大会，审议通过了《关于授权董事会决定公司 2024 年中期利润分配方案的议案》；公司于 2024 年 8 月 20 日召开第八 届董事会第十三次会议，审议通过了《关于公司 2024 年中期利润分配 和股息宣派方案的议案》。 1 二 ...

| 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00728 | 說明 | H 股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 13,877,410,000 | RMB | | 1 RMB | | 13,877,410,000 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 13,877,410,000 | RMB | | 1 RMB | | 13,877,410,000 | | 2. 股份分類 | 普通股 | 股份類別 | A | | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 601728 | 說 ...

Investment Rating - The report maintains an "Accumulate" rating for China Telecom [3][6]. Core Views - The company reported a revenue of 265.973 billion yuan for the first half of 2024, a year-on-year increase of 2.82%, and a net profit attributable to shareholders of 21.812 billion yuan, up 8.23% year-on-year [3]. - The traditional business ARPU continues to grow, supported by AI-driven digital transformation, with service revenue growth outpacing overall revenue growth at 4.3% year-on-year [3]. - The company aims to increase its dividend payout ratio to over 75% in the next three years, reflecting its strong performance and long-term investment value [3]. Financial Summary - For 2024E, the company is expected to achieve a net profit of 33.024 billion yuan, with corresponding PE ratios of 16.7, 15.4, and 14.2 for 2024-2026 [3]. - The mobile user base increased by 9.08 million to 417 million, with 5G penetration exceeding 80% [3]. - Capital expenditures for the first half of 2024 rose by 13% to 47.2 billion yuan, with a focus on digital transformation [3].

Investment Rating - The report maintains a "Buy" rating for both A-shares and H-shares of China Telecom, with a target price of 7.34 CNY per share for A-shares and 4.98 HKD per share for H-shares [2][6]. Core Views - China Telecom reported a revenue of 266 billion CNY for the first half of 2024, representing a year-over-year increase of 2.8%. Service revenue reached 246.2 billion CNY, up 4.3% YoY, while net profit attributable to shareholders was 21.8 billion CNY, reflecting an 8.2% YoY growth. The company maintained a dividend payout ratio of 70% [1][6]. - The mobile communication service revenue grew against the trend, with a revenue of 105.2 billion CNY, up 3.6% YoY. The value-added services and applications segment saw a significant increase of 17.1% YoY, generating 18.1 billion CNY. The penetration rate of 5G users increased by 14.3 percentage points YoY, and the average revenue per user (ARPU) for mobile users rose to 46.3 CNY [1][6]. - The company is focusing on upgrading its digital information infrastructure, with capital expenditures amounting to 47.2 billion CNY in the first half of 2024, which is 49.2% of the annual guidance. Investments in industrial digitalization reached 16.1 billion CNY, accounting for 34% of total capital expenditures [1][6]. - The report forecasts net profits for the years 2024 to 2026 to be 33.0 billion CNY, 35.5 billion CNY, and 38.1 billion CNY, respectively, with corresponding earnings per share (EPS) of 0.36 CNY, 0.39 CNY, and 0.42 CNY [1][6]. Summary by Sections Financial Performance - Revenue for H1 2024: 266 billion CNY (YoY +2.8%) - Service Revenue: 246.2 billion CNY (YoY +4.3%) - Net Profit: 21.8 billion CNY (YoY +8.2%) - Capital Expenditure: 47.2 billion CNY (YoY +13.5%) [1][6]. Business Segments - Mobile Communication Revenue: 105.2 billion CNY (YoY +3.6%) - Value-added Services Revenue: 18.1 billion CNY (YoY +17.1%) - Fixed-line Smart Home Revenue: 64 billion CNY (YoY +3.2%) - Cloud Services Revenue: 55.2 billion CNY (YoY +20.4%) [1][6]. Investment Outlook - Expected Net Profit: 33.0 billion CNY in 2024, 35.5 billion CNY in 2025, 38.1 billion CNY in 2026 - Target Price: 7.34 CNY for A-shares, 4.98 HKD for H-shares - Maintained "Buy" rating for both A and H shares [2][6].