CHINA UNICOM(00762)2025-03-18 08:31Financial Performance - Operating revenue reached RMB 389.6 billion, a year-on-year increase of 4.6%; profit attributable to equity holders was RMB 20.6 billion, up 10.1% year-on-year[3]. - Total revenue for the year ended December 31, 2024, was RMB 389,589 million, an increase of 4.3% from RMB 372,597 million in 2023[24]. - Net profit for the year was RMB 20,733 million, representing a growth of 9.6% compared to RMB 18,922 million in 2023[24]. - Basic earnings per share increased to RMB 0.67 in 2024 from RMB 0.61 in 2023, reflecting a growth of 9.8%[24]. - Total comprehensive income for the year was RMB 20,996 million, up from RMB 19,241 million in 2023, marking an increase of 9.1%[25]. - Total service revenue for 2024 reached RMB 345.975 billion, an increase of 3.4% from RMB 335.170 billion in 2023[47]. - Revenue from communication product sales increased to RMB 43.614 billion in 2024, up 16.5% from RMB 37.427 billion in 2023[47]. - The company's internet communication business revenue was RMB 261.33 billion, reflecting a year-on-year growth of 1.5%[72]. - The smart network business revenue amounted to RMB 82.49 billion, marking a year-on-year increase of 9.6%[73]. Dividends - The proposed final dividend is RMB 0.1562 per share (before tax), with a total annual dividend of RMB 0.4043 per share (before tax), representing a year-on-year increase of 20.1%[3]. - The company declared an interim dividend of RMB 0.2481 per share for 2024, totaling approximately RMB 75.91 billion, compared to RMB 0.203 per share in 2023[58]. - The proposed final dividend for the year ending December 31, 2024, is RMB 0.1562 per share, amounting to approximately RMB 47.79 billion[57]. - The board proposed a final dividend of RMB 0.1562 per share, totaling approximately RMB 4.779 billion, subject to shareholder approval at the annual general meeting[98]. - The final dividend record date is set for June 6, 2025, with the payment expected around June 25, 2025, if approved[98]. User Growth and Engagement - Mobile and broadband user numbers reached 470 million, with a net increase of 19.52 million; IoT connections exceeded 620 million, with a net increase of 130 million[5]. - The number of cloud disk users exceeded 180 million, and ultra-clear users surpassed 50 million, indicating significant growth in user engagement[17]. - The total number of mobile internet users exceeded 340 million, with a net increase of 10.68 million users[1]. - The broadband internet user base surpassed 120 million, with a net increase of 8.84 million users[1]. Capital Expenditure and Investment - Capital expenditure for 2024 is RMB 61.37 billion, a decrease of 17% year-on-year, with computing power investment rising by 19%[3]. - The company aims for revenue, profit, and return on equity to achieve strong growth by 2025, with fixed asset investment projected at approximately RMB 55 billion, including a 28% year-on-year increase in computing power investment[21]. - Total capital expenditures for 2024 amounted to RMB 61.37 billion, with net cash flow from operating activities at RMB 89.40 billion, resulting in free cash flow of RMB 28.03 billion after capital expenditures[90]. Research and Development - R&D expenses increased by 9.1% year-on-year, with 42% of technology talent being innovation-focused[12]. - The company aims to enhance innovation and development, focusing on overcoming key technological bottlenecks and improving overall operational quality[62]. Operational Efficiency and Costs - The company’s operating costs were RMB 373.56 billion, up 4.5% year-on-year, with a cost-to-revenue ratio of 95.9%[75]. - The depreciation and amortization expenses were RMB 83.39 billion, down 1.7% year-on-year, reducing its share of operating revenue from 22.8% to 21.4%[77]. - In 2024, employee compensation and benefits expenses amounted to RMB 64.93 billion, a year-on-year increase of 3.2%, accounting for 16.7% of operating revenue, down from 16.9% in the previous year[79]. - Management expenses decreased by 7.4% year-on-year to RMB 5.12 billion, representing 1.3% of operating revenue, down from 1.5% in the previous year[82]. Corporate Governance and Compliance - The board of directors includes executive and independent non-executive members, ensuring diverse governance[106]. - The group has adopted revised Hong Kong Financial Reporting Standards, which do not significantly impact the financial position and performance as presented in the consolidated financial statements[41]. - The new Hong Kong Financial Reporting Standard 18, effective from January 1, 2027, will introduce new requirements for the presentation and disclosure of financial statements[44]. ESG and Social Responsibility - The company is actively pursuing ESG responsibilities, having established 22 national-level green data centers and promoting network energy conservation[20]. - The company has upgraded its "Unicom Rural" platform, serving 260,000 administrative villages and 280 million rural users, contributing to rural revitalization[20].