2025-04-22 09:46Financial Performance - For Q1 2025, the operating revenue was RMB 263.8 billion, a slight increase of 0.02% year-over-year, with communication service revenue at RMB 222.4 billion, growing by 1.4%[3] - EBITDA reached RMB 80.7 billion, reflecting a year-over-year increase of 3.4%, with an EBITDA margin of 30.6%[4] - The profit attributable to shareholders was RMB 30.6 billion, up 3.5% compared to the previous year, resulting in a profit margin of 11.6%[9] - The total comprehensive income for the three months ended March 31, 2025, was RMB 30,647 million, compared to RMB 30,545 million for the same period in 2024, representing an increase of 0.33%[12] - The profit attributable to shareholders for the period was RMB 30,630 million, up from RMB 29,629 million in the previous year, reflecting a growth of 3.37%[12] - Earnings per share (basic and diluted) for the period was RMB 1.42, compared to RMB 1.38 in the same period last year, indicating a 2.89% increase[12] Customer Base and Services - The total mobile customer base stood at 1.003 billion, with 5G customers reaching 578 million, indicating a strong growth in 5G adoption[5] - The average revenue per user (ARPU) for mobile services was RMB 46.9, an increase of 3.5% year-over-year[6] - The number of fixed broadband customers increased to 320 million, with a net addition of 5.48 million in the quarter[7] - The company is focusing on enhancing its service ecosystem centered around smart home solutions, with a significant increase in household broadband customers[7] Market Expansion and Revenue Sources - The revenue from emerging markets has further increased, indicating successful international expansion efforts[8] - The sales revenue from products and others was RMB 41.4 billion, down 6.8% year-over-year, highlighting challenges in this segment[8] Assets and Liabilities - Total assets as of March 31, 2025, amounted to RMB 2,125,572 million, a slight increase from RMB 2,108,127 million as of December 31, 2024[15] - Non-current assets decreased to RMB 1,556,866 million from RMB 1,539,568 million, primarily due to a reduction in fixed assets[13] - Current liabilities decreased to RMB 612,042 million from RMB 633,018 million, showing a reduction of approximately 3.32%[15] - The company's equity attributable to shareholders increased to RMB 1,425,616 million from RMB 1,392,032 million, reflecting a growth of 2.41%[15] - Cash and cash equivalents decreased to RMB 125,078 million from RMB 167,309 million, indicating a decline of 25.29%[15] - The company reported an increase in accounts receivable to RMB 101,394 million from RMB 75,741 million, representing a significant rise of 33.93%[13] - The company’s bank deposits increased to RMB 64,813 million from RMB 54,413 million, marking a growth of 19.19%[13] Cash Flow and Investment Activities - The company's pre-tax profit for the three months ended March 31, 2025, was RMB 39,312 million, an increase from RMB 38,374 million in the same period of 2024, representing a growth of 2.4%[16] - Operating cash flow before changes in working capital was RMB 88,347 million, compared to RMB 86,446 million in the previous year, indicating a year-over-year increase of 2.2%[16] - Net cash inflow from operating activities was RMB 31,317 million, down from RMB 56,904 million in the same period last year, reflecting a decrease of 45%[16] - The company reported a net cash outflow from investing activities of RMB 20,491 million, a significant reduction from RMB 75,799 million in the previous year, showing improved cash management[18] - Cash and cash equivalents at the end of the period increased to RMB 166,026 million, up from RMB 125,078 million at the end of the same period last year, marking a growth of 32.8%[20] - The company recorded a net cash outflow from financing activities of RMB 12,064 million, compared to a net inflow of RMB 2,305 million in the same period of 2024[20] Strategic Focus and Future Outlook - The company is committed to deepening reforms and innovation to enhance operational efficiency and drive high-quality growth[9] - The company plans to continue investing in new technologies and market expansion, although specific figures were not disclosed in the call[22] - The company emphasized the importance of cautious investment decisions, highlighting the potential risks and uncertainties in future performance[22] - The board of directors remains committed to strategic growth and shareholder value, with ongoing assessments of market conditions and operational strategies[22]