CHINA UNICOM(00762)2023-04-18 10:55Financial Performance - In Q1 2023, the company's operating revenue reached RMB 97.22 billion, an increase of 9.2% year-on-year, marking the highest growth rate for the same period in nearly a decade[3] - Service revenue amounted to RMB 86.12 billion, up 6.1% compared to the same period last year[4] - EBITDA for Q1 2023 was RMB 25.73 billion, reflecting a 2.8% increase from the previous year[3] - Net profit attributable to equity holders was RMB 5.16 billion, up 11.2% year-on-year, achieving a new high for the same period since the company's listing[5] - Operating cash flow reached RMB 16.96 billion, a significant increase of 21.8% year-on-year, with cash flow accounting for 17.4% of operating revenue[5] Business Segments - The industrial internet business generated revenue of RMB 22.39 billion, accounting for 26.0% of service revenue, an increase of 2.1 percentage points year-on-year[5] - Revenue from the cloud service "Unicom Cloud" was RMB 12.79 billion, a 40% increase year-on-year[6] - Big data revenue was RMB 1.498 billion, reflecting a 54.2% year-on-year growth[6] - The total number of "Big Connection" users reached 900 million, with 5G package users totaling 224 million, driving mobile service revenue to RMB 43.82 billion, a 4.4% increase year-on-year[5] Technological Advancements - The company launched the world's first commercial 5G RedCap module, completing the largest pre-commercial verification of RedCap in the country[7] - The number of 5G virtual private network service customers reached 4,562, contributing to over 19,000 large-scale 5G application projects[7] - The company’s IDC rack count reached 372,000, supporting the "East Data West Computing" strategy[6] Strategic Direction - The company is transitioning from a traditional telecom operator to a leading digital technology enterprise, implementing the "1+9+3" strategic planning system in 2023[7] - The company is focused on enhancing its digital, networked, and intelligent capabilities to accelerate modernization in China[7] Security and Innovation - The company emphasizes the development of integrated security products and operational services, continuously upgrading its security offerings to meet diverse needs[7] - The revenue from cloud services, including cloud resources, platforms, and security, is part of the company's innovative solutions[8] - The company’s cloud security product, "Liantong Cloud Shield Anti-D Pioneer," offers professional security services such as attack monitoring and traffic cleaning[9] Cautionary Notes - The company warns shareholders and investors to be cautious in relying on internal financial and business data that has not been audited[8] - The company’s EBITDA reflects earnings before financial expenses, interest income, and taxes, which is crucial for analyzing operational performance in the capital-intensive telecom industry[8]