中国电信(00728) - 2023 - 中期财报

Financial Performance - The company reported a profit attributable to shareholders of RMB 20.15 billion for the six months ended June 30, 2023, with a proposed dividend distribution of RMB 13.104 billion, translating to a dividend of RMB 0.1432 per share (before tax) based on a total share capital of 91,507,138,699 shares[6]. - The company plans to allocate 65% of its profit to shareholders, reflecting a commitment to shareholder returns while considering cash flow and profitability[6]. - The company's operating revenue for the first half of 2023 reached RMB 236 billion, representing a year-on-year growth of 6.6%[20]. - The company's revenue for the first half of the year reached RMB 260.7 billion, a year-on-year increase of 7.6%[32]. - Net profit attributable to shareholders was RMB 20.2 billion, reflecting a year-on-year growth of 10.2%, with basic earnings per share at RMB 0.22[32]. - The total comprehensive income attributable to shareholders is RMB 20,421 million, reflecting a strong performance in the first half of 2023[130]. - The basic and diluted earnings per share are both RMB 0.22, consistent with the previous reporting period[130]. - The company maintained a stable dividend policy, with dividends paid amounting to RMB 15,556 million during the period[131]. Revenue Breakdown - The telecommunications business revenue reached RMB 868.8 billion, representing a year-on-year growth of 6.2%[18]. - Emerging business revenue, including IPTV, internet data centers, big data, cloud computing, and IoT, totaled RMB 188 billion, with a year-on-year increase of 19.2%[18]. - Application revenue amounted to RMB 15.4 billion, with a year-on-year increase of 19.4%[20]. - Mobile communication service revenue grew to RMB 101.6 billion, up 2.7% year-on-year, while mobile user ARPU reached RMB 46.2, a 0.4% increase[20]. - The digitalization business generated RMB 68.8 billion, marking a significant year-on-year increase of 16.7%[20]. Capital Expenditure and Investments - Capital expenditure for the first half was RMB 41.6 billion, with free cash flow amounting to RMB 17.6 billion[32]. - The company has committed approximately RMB 378.88 billion of the raised funds to projects related to 5G infrastructure, cloud integration, and technological innovation[70]. - The total amount raised from the A-share issuance was approximately RMB 479.04 billion, netting approximately RMB 475.16 billion after deducting issuance costs[70]. - The company has invested a total of approximately RMB 439.25 billion from the raised funds, with an unused balance of approximately RMB 96.28 billion[70]. Risk Management and Compliance - The company has outlined its development strategies and identified various economic and policy risks that may impact future operations[7]. - The report emphasizes the importance of risk management in the context of international operations and market expansion[7]. - The company aims to strengthen its overseas compliance management and risk assessment to mitigate risks associated with international business expansion[62]. - The company has conducted ongoing assessments of network security vulnerabilities to ensure reliable operations and data safety[61]. Technological Advancements - The company is focused on enhancing its technological capabilities, including advancements in 5G and AI technologies, to drive future growth[9]. - The company is implementing a cloud transformation strategy, focusing on customer-centricity and technological innovation to enhance service quality and security[18]. - The company aims to deepen the integration of digital technology and the real economy through a combination of network, cloud computing, AI, and applications[18]. - The company upgraded its AI algorithm platform, reaching 5,500 self-developed scene algorithms and launched a general visual model with 10 billion parameters[38]. Sustainability and Corporate Social Responsibility - The company emphasizes green development and is advancing low-carbon operations, aligning with national "dual carbon" goals[91]. - The company has reduced carbon emissions by over 5 million tons in the first half of 2023, with a carbon emission intensity decrease of over 10%[94]. - The company has implemented a "1248" dual carbon action plan, focusing on eight major green actions to promote green low-carbon transformation[92]. - The company has created nearly 60,000 "Love Wing Stations" providing various public services, serving a total of 15 million people[46]. Governance and Shareholder Engagement - The board of directors has approved the profit distribution plan during the second meeting of the eighth board session held on August 8, 2023[6]. - The company held two shareholder meetings during the reporting period, with all resolutions passed[82]. - The company published the resolutions on designated websites, ensuring transparency for shareholders[82]. - The company has not granted any share options to its directors, supervisors, or their immediate family members during the six months ending June 30, 2023[65].