证券代码：601728 证券简称：中国电信 公告编号：2024-053 中国电信股份有限公司 关于预计与中国铁塔股份有限公司 2025 年度关联交易金额上限的公告 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。 重要内容提示： 一、 日常关联交易基本情况及审议程序 （一）日常关联交易履行的审议程序 2024年12月16日，公司召开第八届董事会第十七次会议、第八届监事会第十 三次会议、第八届董事会审核委员会第十四次会议、2024年第五次独立董事专门 1 是否需要提交股东大会审议：根据相关法律、法规及《公司章程》的规定， 本次关于预计与中国铁塔股份有限公司（以下简称"中国铁塔"）2025 年度 关联交易金额上限的事项无需提交股东大会审议。 关联交易对公司的影响：中国电信股份有限公司（以下简称"公司"或者"本 公司"）与中国铁塔签订《商务定价协议》及《服务协议》，有利于精准把握 数字经济发展机遇，更加高效建设移动网络，加快打造绿色低碳数字信息基 础设施，有效节省资本开支和运营成本，进一步实现降本增效，推动企业更 高质量发展。该等日常 ...

Investment Rating - The report assigns a "Buy" rating for China Telecom (601728.SH) [1] Core Insights - The company is seizing opportunities in digitalization, leading to stable revenue growth. In the first three quarters of 2024, the company achieved revenue of 391.968 billion yuan, a year-on-year increase of 2.85% [1] - The dual drivers of basic and industrial digitalization services are injecting vitality into the company's performance [1] - Continuous investment in R&D and significant cost reduction efforts have yielded notable results [1] Revenue and Profit Forecast - The forecast for the company's revenue from 2024 to 2026 is 530.746 billion yuan, 556.169 billion yuan, and 582.921 billion yuan respectively, with corresponding EPS of 0.36 yuan, 0.39 yuan, and 0.41 yuan [2][5] - The expected growth rates for revenue are 4.5% in 2024, 4.8% in 2025, and 4.8% in 2026 [2][5] Business Performance - In mobile communications, the company added 14.9 million net users, reaching a total of 423 million mobile users, with 5G package users at 345 million and a penetration rate of 81.6% [1] - In fixed-line and smart home services, the number of wired broadband users reached 196 million, with smart home revenue growing by 17.0% year-on-year [1] - The industrial digitalization business generated revenue of 105.549 billion yuan in the first three quarters of 2024, a year-on-year increase of 5.8% [1] R&D and Cost Management - The company increased R&D expenditure to 8.75 billion yuan in the first three quarters of 2024, a year-on-year increase of 19.3% [1] - Sales expenses decreased by 3.2% year-on-year to 39.435 billion yuan, while management expenses and financial expenses also saw slight reductions [1]

Core Viewpoint - Tianyi Co., Ltd. has been shortlisted as the third candidate for the centralized procurement project of FTTR equipment by China Telecom for the years 2024-2025, which is a significant opportunity for the company [1] Group 1 - The project is part of the company's main business, indicating alignment with its core operations [1] - Successful contract signing will positively impact the company's future operating performance and market expansion [1] - The execution of this project will not affect the company's operational independence [1]

Core Viewpoint - The rapid development of a new technological revolution, including artificial intelligence and quantum technology, presents significant opportunities for industry applications and innovation, emphasizing the need for a robust digital information infrastructure to support these advancements [1][2]. Group 1: Industry Trends and Requirements - The demand for intelligent, green, and secure digital information infrastructure is increasing, necessitating a nationwide integrated computing power internet to manage resources across different regions and service providers [2]. - The explosive growth of intelligent computing requires innovative integration of computing power with energy supply systems, highlighting the need for collaboration between communication and energy sectors [2]. - The rapid advancements in AI and quantum technology present both opportunities and new security challenges, necessitating a comprehensive approach to digital information security [2]. Group 2: Innovation and Application Development - The industry is entering a critical phase where large-scale applications drive development, with generative AI rapidly iterating and improving capabilities across various sectors [3]. - The integration of quantum technology with multiple industries is essential for accelerating the development of the quantum industry, alongside the expansion of direct satellite connections into new fields [3]. - China Telecom emphasizes the importance of an application-oriented approach to foster innovation and development, advocating for a cycle of "technology-product-industry" [3]. Group 3: Infrastructure and Technological Advancements - China Telecom aims to enhance its digital information infrastructure by focusing on high-capacity networks, including 5G and 50GPON broadband networks, and developing a global satellite network [4]. - The company is committed to building a robust computing infrastructure, enhancing efficiency in computing power supply, and promoting green and secure digital infrastructure [4]. - Efforts will be made to advance quantum communication technology and establish a nationwide quantum communication network to support industry development [4]. Group 4: Application Integration and Market Expansion - China Telecom plans to integrate intelligent applications deeply into industry production scenarios, developing over 80 industry-specific models and enhancing service capabilities [5]. - The company aims to enrich digital applications for individuals and families, leveraging AI to improve social governance and enhance green and secure product offerings [5]. - A commitment to deepening reform and opening up is highlighted, focusing on collaboration in cloud computing, AI, and quantum technologies to foster industry prosperity [5].

Core Viewpoint - China Telecom is actively engaged in the development of the low-altitude economy, emphasizing the establishment of core capabilities and infrastructure to support this emerging strategic industry [1] Group 1: Infrastructure Development - China Telecom has built a wide-area low-altitude communication network, a high-intelligence low-altitude perception network, and a high-efficiency low-altitude computing network to provide a solid infrastructure for the low-altitude economy [1] Group 2: Technological Advancements - The company is promoting technological breakthroughs by leveraging advantages in cloud-network integration, AI, quantum technology, and security to lead the development of low-altitude economy technologies and facilitate the formulation of relevant standards [1] Group 3: Service and Operations - China Telecom is constructing a service operation system in collaboration with local governments to advance the construction of new low-altitude infrastructure and provide comprehensive solutions for low-altitude applications to meet the needs of enterprises and the public [1] Group 4: Ecosystem Collaboration - The company has initiated the establishment of a low-altitude economy industry alliance, collaborating with industry partners to promote technological innovation and implement the "Low-altitude Navigator" action plan, resulting in the launch of over 300 projects [1] Group 5: Future Plans - China Telecom aims to further enhance its digital capabilities in the low-altitude economy, optimize its operational service system, deepen industrial ecosystem collaboration, and ensure high-quality development and high-level safety in the low-altitude economy [1]

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 RMB 本月底法定/註冊股本總額: 91,507,138,699 截至月份: 2024年11月30日 狀態: 新提交 致:香港交易及結算所有限公司 公司名稱: 中國電信股份有限公司 呈交日期: 2024年12月2日 l. 法定/註冊股本變動 | . 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 | 説明 | H股 | | | | | | | | 法定/註冊股份數目 | | 面値 | | 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 (-) | | | | | |RMB | | 0 | | 本月底結存 | | | 13,877,410,000|RMB | | 1 |RMB | | 13,877,410,000 | ...

中国电信股份有限公司 二〇二四年十一月二十日 2 证券代码：601728 证券简称：中国电信 公告编号：2024-050 中国电信股份有限公司 2024 年 10 月主要运营数据公告 中国电信股份有限公司 2024 年 10 月主要运营数据如下： | 单位：万户 | 2024 年 10 月 | | --- | --- | | 移动用户数 | 42,343 | | 当月净增/减用户数 | 76 | | 当年累计净增/减用户数 | 1,566 | | 其中：5G 套餐用户数 | 34,753 | | 当月净增/减用户数 | 247 | | 当年累计净增/减用户数 | 2,887 | | 有线宽带用户数 | 19,662 | | 当月净增/减用户数 | 36 | | 当年累计净增/减用户数 | 646 | | 固定电话用户数 | 9,761 | | 当月净增/减用户数 | -39 | | 当年累计净增/减用户数 | -341 | 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。 ...

证券代码：601728 证券简称：中国电信 公告编号：2024-049 中国电信股份有限公司 关于全资子公司对外投资的进展公告 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、 对外投资概述 中国电信股份有限公司（以下简称"公司"）于2024年3月11日以 通讯方式召开第八届董事会第六次会议、第八届监事会第五次会议、 第八届董事会审核委员会第五次会议、2024年第一次独立董事专门会 议，审议通过《关于全资子公司收购科大国盾量子技术股份有限公司 控制权的议案》。 2024年3月11日，公司之全资子公司中电信量子信息科技集团有 限公司（以下简称"中电信量子集团"）与科大国盾量子技术股份有 限公司（以下简称"国盾量子"）签订了《科大国盾量子技术股份有 限公司非公开发行A股股票之附条件生效的股份认购暨战略合作协 议》，中电信量子集团拟以自有资金按照78.94元人民币/股的价格， 认购国盾量子非公开发行的24,112,311股A股股份（最终数量以中国 证监会同意注册发行的股票数量为准），认购总金额为人民币 1,903,425,830 ...

Investment Rating - The report maintains a "Buy-A" rating for China Telecom (601728.SH) [1][5] Core Views - The company achieved a revenue of 391.97 billion yuan in Q1-Q3 2024, representing a year-on-year increase of 2.9%. Service revenue grew by 3.8% to 362.89 billion yuan, while net profit attributable to shareholders rose by 8.1% to 29.30 billion yuan [2][5] - The company is optimizing resource allocation and has seen results from cost reduction and efficiency improvement initiatives, with operating costs increasing by only 3.0% year-on-year, a significant decrease from the previous year's 6.1% [3] - The mobile communication service revenue reached 156.82 billion yuan, up 3.2% year-on-year, with a total mobile user base of 423 million, including 345 million 5G users [3][4] Summary by Sections Market Performance - In Q1-Q3 2024, the fixed-line and smart home services revenue was 95.62 billion yuan, up 2.9% year-on-year, with broadband users reaching 196 million and smart home revenue increasing by 17.0% [1][2] Financial Performance - The company reported a net profit of 29.30 billion yuan, with an EPS of 0.32 yuan, reflecting an 8.1% increase year-on-year [2][5] - The EBITDA for the same period was 117.03 billion yuan, indicating a stable growth trajectory [11] Business Segments - The digital industry business revenue was 105.55 billion yuan, growing by 5.8% year-on-year, contributing to 29.1% of service revenue [4][5] - The company continues to enhance its digital transformation strategy, integrating "network + cloud + AI + applications" to meet the growing digitalization demands across various sectors [5] Future Outlook - The company aims for good growth in revenue and EBITDA for the full year, with net profit growth expected to outpace revenue growth. The dividend per share is projected to increase to 0.1671 yuan, a 5% year-on-year rise, with a payout ratio reaching 70% [5] - Profit forecasts for 2024-2026 indicate net profits of 32.52 billion, 34.91 billion, and 36.86 billion yuan, respectively, with corresponding EPS of 0.36, 0.38, and 0.40 yuan [5][7]

致：香港交易及結算所有限公司 公司名稱: 中國電信股份有限公司 呈交日期: 2024年11月1日 I. 法定/註冊股本變動 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10月31日 狀態: 新提交 第 2 頁 共 10 頁 v 1.1.0 FF301 | 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 ...