中国电信(00728) - 2024 - 中期财报

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].