Major Events - Shiyao Group's (01093) application for the listing of Semaglutide injection has been accepted by the National Medical Products Administration (NMPA) [1] - Gilead Sciences-B (01672) has completed the enrollment of overweight or obese subjects in the Phase IIa study of the small molecule oral GLP-1R agonist ASC30 in the United States [1] - China Biopharmaceutical (01177) has received NMPA approval for the clinical trial application of TQC3302 "ICS/LAMA/LABA soft mist inhalation preparation" [1] - Jiaogepeng Holdings (01450) plans to acquire 100% equity of Hangzhou Jiaogepeng Education Technology Co., Ltd. for 180 million yuan [1] Financial Data - China Tower (00788) reported a mid-term profit attributable to shareholders of 5.757 billion yuan, an increase of 8.0% year-on-year, with the revenue share from its two wings business exceeding 14% [1] - Techtronic Industries (00669) reported a mid-term profit attributable to shareholders of 628 million USD, an increase of 14.17% year-on-year, with a dividend of 1.25 HKD per share [1] - Yum China (09987) reported a second-quarter operating profit of 304 million USD, a year-on-year increase of 14% [1] - Zibuyu (02420) issued a profit warning, expecting mid-term revenue to increase by approximately 30%-40% to between 1.9 billion and 2.047 billion yuan [1] - Angelalign (06699) issued a profit warning, expecting net profit for the first half of the year to be approximately 13.4 million to 14.8 million USD, a year-on-year increase of approximately 538.1% to 604.8% [1] - Boya Interactive (00434) issued a profit warning, expecting mid-term profit attributable to shareholders to decrease by approximately 25% to 35% [1] - Zhenjiu Lidu (06979) issued a profit warning, expecting mid-term net profit attributable to shareholders to decline by 23% to 24% [1] - Fourth Paradigm (06682) expects a narrowed adjusted net loss for the mid-term, down 68% to 73% year-on-year [1]

Core Insights - In the first half of 2025, China Tower reported a revenue of 49.601 billion RMB, a year-on-year increase of 2.8%, and a profit attributable to shareholders of 5.757 billion RMB, up 8% [1] Group 1: Operator Business - The operator business generated a revenue of 42.461 billion RMB, reflecting a year-on-year growth of 0.8% [1] - Tower-related revenue was 37.797 billion RMB, remaining stable compared to the same period last year [1] - As of June 30, 2025, the number of tower sites reached 2.119 million, an increase of 25,000 from the end of the previous year, with operator tower tenants totaling 3.579 million, up by 35,000 [1] Group 2: Smart Connection Business - The smart connection business achieved a revenue of 4.726 billion RMB, marking an 18.7% year-on-year increase [2] - The company focuses on spatial digital governance, enhancing its service offerings in key sectors such as agricultural protection, fishery law enforcement, forest fire prevention, disaster warning, and emergency rescue [2] Group 3: Energy Business - The energy business reported a revenue of 2.209 billion RMB, with a year-on-year growth of 9.2% [3] - The number of battery swap users reached approximately 1.47 million, an increase of 166,000 from the end of the previous year, maintaining a leading position in the low-speed electric vehicle battery swap market [3] Group 4: Technology and Innovation - The company has strengthened its focus on technological innovation, with a 29% increase in the number of R&D personnel compared to the same period last year [3] - The total number of authorized invention patents increased by 16% from the end of 2024 [3]

（文章来源：中国新闻网） 张志勇表示，未来，中国铁塔将在一流平台与算法、数字化治理产品、大模型、智能体、数字塔及边缘 算力等领域加强"AI+"的部署，也将对赋能低空经济等方面进行相关准备，预计将持续增加在科技创新 方面的投资。(完) 中新网香港8月5日电 (记者戴小橦)中国铁塔股份有限公司(简称"中国铁塔")2025年中期业绩发布会5日在 香港举行。期内，中国铁塔营业收入为496.01亿元(人民币，下同)，同比增长2.8%。 业绩报告显示，2025年上半年，中国铁塔净利润达57.57亿元，同比增长8%；两翼业务(即"智联业务和 能源业务")实现收入69.35亿元，占营业收入比重的14%。 中国铁塔董事长张志勇表示，期内，中国铁塔在智联和能源业务，以及信息技术支撑及研发等方面的资 本开支有所增加，但在站址新建、共享改造和更新改造方面的资本开支都有所减少。预计今年全年建设 数量与去年相若，全年资本支出基本与去年相若。 ...

Core Insights - China Tower reported stable revenue growth in the first half of 2025, achieving operating revenue of 49.601 billion yuan, a year-on-year increase of 2.8% [1] - The net profit attributable to shareholders was 5.757 billion yuan, reflecting an 8.0% year-on-year growth [1] - The company emphasized its commitment to optimizing resource allocation and enhancing core competitiveness for high-quality development [1] Revenue Breakdown - The operator business generated revenue of 42.461 billion yuan, a 0.8% increase year-on-year [1] - Tower business revenue was 37.797 billion yuan, remaining stable compared to the same period last year [2] - Indoor distribution business revenue reached 4.664 billion yuan, marking a 12.0% year-on-year growth [2] Business Development - The two-wing business achieved revenue of 6.935 billion yuan, accounting for 14.0% of total operating revenue, an increase of 1.6 percentage points year-on-year [2] - Smart connection business revenue was 4.726 billion yuan, with an 18.7% year-on-year increase, and the Iron Tower Vision business contributed 2.822 billion yuan, representing 59.7% of smart connection revenue [2] - Energy business revenue was 2.209 billion yuan, up 9.2% year-on-year, with the battery swap business generating 1.323 billion yuan, accounting for 59.9% of energy business revenue [2] Infrastructure and Market Position - As of June 30, 2025, the number of tower sites reached 2.119 million, an increase of 25,000 from the end of the previous year [2] - The number of operator tower tenants rose to 3.579 million, an increase of 35,000 from the end of the previous year, with an average of 1.72 tenants per tower site [2] - The company continues to lead in the low-speed electric vehicle battery swap market, with approximately 1.47 million battery swap users, an increase of 166,000 from the end of the previous year [2]

Core Insights - China Tower reported a revenue of 49.601 billion yuan for the first half of 2025, representing a year-on-year growth of 2.8% [2] - The profit attributable to shareholders reached 5.757 billion yuan, marking an 8% increase compared to the previous year [2] Revenue Breakdown - Operator business revenue was 42.461 billion yuan, with a year-on-year growth of 0.8% [2] - Smart connection business revenue amounted to 4.726 billion yuan, showing an 18.7% increase [2] - Energy business revenue reached 2.209 billion yuan, reflecting a growth of 9.2% [2] Profitability and Cash Flow - EBITDA stood at 34.227 billion yuan, up by 3.6% year-on-year [2] - Net cash flow from operating activities was 28.679 billion yuan, with free cash flow at 16.287 billion yuan [2] - The board decided to distribute an interim dividend of 0.1325 yuan per share before tax for 2025 [2] Strategic Focus - The company aims to optimize resource allocation and deepen reform and innovation to enhance operational quality and efficiency [2] - Future strategies include focusing on core technology breakthroughs, strengthening the supply of technological achievements, and promoting the integration of technological and industrial innovation [2]

中国铁塔(00788)午后涨近3%，截至发稿，涨2.72%，报11.31港元，成交额1.47亿港元。 消息面上，中国铁塔午间发布截至2025年6月30日止半年度中期业绩，集团营业收入保持稳定增长，实 现人民币496.01亿元，同比增长2.8%；盈利能力持续提升，EBITDA达到人民币342.27亿元，同比增长 3.6%，归属于公司股东的利润为人民币57.57亿元，同比增长8.0%；实现经营活动现金流量净额人民币 286.79亿元，自由现金流达到人民币162.87亿元；董事会决定2025年继续派发中期股息，金额为每股人 民币0.13250元(税前)。 本文源自：智通财经网 ...

Core Viewpoint - China Tower Corporation (00788) reported stable revenue growth and improved profitability in its interim results for the period ending June 30, 2025, with a notable increase in net profit and cash flow [1] Financial Performance - The company achieved an operating revenue of RMB 49.601 billion, representing a year-on-year growth of 2.8% [1] - EBITDA reached RMB 34.227 billion, reflecting a year-on-year increase of 3.6% [1] - Net profit attributable to shareholders was RMB 5.757 billion, showing a year-on-year growth of 8.0% [1] - The net cash flow from operating activities was RMB 28.679 billion, with free cash flow amounting to RMB 16.287 billion [1] Dividend Announcement - The board of directors decided to distribute an interim dividend for 2025, amounting to RMB 0.13250 per share (pre-tax) [1]

消息面上，中国铁塔午间发布截至2025年6月30日止半年度中期业绩，集团营业收入保持稳定增长，实 现人民币496.01亿元，同比增长2.8%；盈利能力持续提升，EBITDA达到人民币342.27亿元，同比增长 3.6%，归属于公司股东的利润为人民币57.57亿元，同比增长8.0%；实现经营活动现金流量净额人民币 286.79亿元，自由现金流达到人民币162.87亿元；董事会决定2025年继续派发中期股息，金额为每股人 民币0.13250元(税前)。 中国铁塔(00788)午后涨近3%，截至发稿，涨2.72%，报11.31港元，成交额1.47亿港元。 ...

Group 1 - The company China Tower (00788.HK) announced a mid-term dividend of HKD 0.1325 per share, which will be distributed on October 31, 2025 [1]

Core Insights - China Tower Corporation (00788.HK) reported stable revenue growth for the first half of 2025, achieving operating revenue of 49.601 billion RMB, a year-on-year increase of 2.8% [1] - EBITDA reached 34.227 billion RMB, reflecting a year-on-year growth of 3.6% [1] - Profit attributable to shareholders was 5.757 billion RMB, up 8% compared to the previous year [1] - The company declared an interim dividend of 0.13250 RMB per share (pre-tax) [1] Revenue Breakdown - Revenue from operator services amounted to 42.461 billion RMB, showing a year-on-year increase of 0.8% [1] - Revenue from tower-related services was 37.797 billion RMB, remaining stable compared to the same period last year [1] - Revenue from indoor distributed antenna systems reached 4.664 billion RMB, marking a year-on-year growth of 12% [1] - Smart connection services generated revenue of 4.726 billion RMB, with an 18.7% year-on-year increase [1] - Energy services revenue was 2.209 billion RMB, reflecting a year-on-year growth of 9.2% [1]