中国铁塔(00788) - 2021 - 中期财报

Financial Performance - The company's operating revenue for the first half of 2021 reached RMB 42.673 billion, a year-on-year increase of 7.2%[5] - EBITDA for the first half of 2021 was RMB 31.184 billion, also reflecting a 7.2% year-on-year growth, with an EBITDA margin of 73.1%[9] - Net profit attributable to shareholders was RMB 3.457 billion, marking a 16.1% increase compared to the same period last year[9] - The operating profit for the first half of 2021 was RMB 6.354 billion, with net profit attributable to shareholders reaching RMB 3.457 billion, an increase of 16.1% year-on-year[25] - Basic and diluted earnings per share for the period were RMB 0.0198, compared to RMB 0.0170 in the same period of 2020, reflecting a growth of 16.4%[33] - The total comprehensive income for the period was RMB 3,457 million, compared to RMB 2,978 million for the same period in 2020, marking a growth of around 16%[37] Cash Flow and Expenditures - The company achieved a net cash flow from operating activities of RMB 24.238 billion, with capital expenditures amounting to RMB 10.360 billion, a decrease of 27.6% year-on-year[9] - Free cash flow reached RMB 138.78 billion, reflecting an 8.6% year-on-year increase[9] - The net cash generated from operating activities for the six months ended June 30, 2021, was RMB 24,238 million, compared to RMB 27,083 million for the same period in 2020, indicating a decrease of about 10.5%[39] - The net cash used in investing activities was RMB 18,685 million for the six months ended June 30, 2021, compared to RMB 14,296 million in the same period of 2020, representing an increase of approximately 30%[39] - The company reported a loss of RMB 672 million from the disposal of property, plant, and equipment, compared to a loss of RMB 533 million in the same period last year, indicating an increase in losses of about 26.2%[66] Assets and Liabilities - The company’s total assets as of June 30, 2021, were RMB 333.195 billion, with total liabilities of RMB 147.341 billion, leading to a debt-to-asset ratio decrease from 44.8% at the beginning of the year to 44.2%[27] - Total liabilities decreased to RMB 147,341 million from RMB 151,134 million, indicating improved financial stability[35] - The total accounts receivable and other receivables reached RMB 37,769 million as of June 30, 2021, an increase of 23% from RMB 30,658 million as of December 31, 2020[71] - The net accounts receivable was RMB 32,561 million as of June 30, 2021, up from RMB 24,635 million as of December 31, 2020, indicating a growth of 32%[71] Revenue Breakdown - Revenue from the telecommunications business was RMB 39.808 billion, up 4.5% year-on-year, while revenue from cross-industry business grew by 46.6% to RMB 1.853 billion[5] - The energy business revenue surged by 180.6% to RMB 884 million, driven by the growth in low-carbon economy initiatives[12] - Revenue from tower services was RMB 37,722 million, up from RMB 36,371 million, indicating a growth of 3.7% year-over-year[47] - The revenue from indoor distributed antenna system (室分业务) was RMB 2,086 million, a significant increase of 21.2% compared to RMB 1,720 million in the previous year[47] - Major customers, including China Mobile, China Telecom, and China Unicom, contributed 93.9% of total revenue, down from 96.4% in the previous year[50] Strategic Focus and Market Position - The company aims to enhance its resource-sharing capabilities and strengthen its market position in the 5G infrastructure sector[11] - The company is focusing on 5G infrastructure and digital economy opportunities to drive steady growth and enhance corporate value[15] - The company is committed to innovation in new energy technologies and aims to become a competitive new energy application service provider[18] Governance and Compliance - The company has adhered to the Corporate Governance Code during the six months ending June 30, 2021[4] - The audit committee has reviewed the accounting standards and practices adopted by the company[4] - The company has adopted a securities trading code for directors and employees that is not less stringent than the standard code[5] Shareholder Information - As of June 30, 2021, China Mobile Group held 49,150,953,709 shares, representing 38.00% of the relevant class of shares and 27.93% of the total issued shares[119] - China Unicom Group held 36,345,836,822 shares, representing 28.10% of the relevant class of shares and 20.65% of the total issued shares[120] - China Telecom Group held 36,087,147,592 shares, representing 27.90% of the relevant class of shares and 20.50% of the total issued shares[120]