中国铁塔(00788) - 2021 - 年度财报

Financial Performance - In 2021, the company achieved operating revenue of RMB 86.585 billion, representing a year-on-year growth of 6.8%[3] - EBITDA for 2021 was RMB 63.017 billion, an increase of 5.9% compared to the previous year, with an EBITDA margin of 72.8%[18] - The profit attributable to shareholders was RMB 7.329 billion, reflecting a 14.0% increase year-on-year[6] - The company reported a net cash flow from operating activities of RMB 60.503 billion, with capital expenditures of RMB 25.192 billion, a decrease of 32.1%[18] - The total assets of the company as of December 31, 2021, amounted to RMB 323.259 billion, with interest-bearing liabilities of RMB 101.304 billion[18] - The company achieved a total revenue of RMB 80.197 billion in 2021, representing a year-on-year growth of 4.3%[37] - The EBITDA for 2021 was RMB 63.017 billion, reflecting a year-on-year growth of 5.9%[46] - The company reported a significant increase in revenue, achieving a total of 42 billion yuan for the year 2021, marking a year-on-year growth of 15%[91] - The company reported a net profit margin of 18%, which is an improvement from 16% in the previous year, indicating better cost management[91] Business Segments - The company’s energy business revenue grew by 121.5% year-on-year, reaching RMB 2.071 billion[3] - The company completed approximately 552,000 5G construction demands in 2021, significantly contributing to the growth of operator business[20] - The tower business generated revenue of RMB 75.857 billion, with a year-on-year increase of 3.4%, while the indoor distribution business saw revenue rise to RMB 4.340 billion, up 23.0%[37] - The smart connection business generated revenue of RMB 4.060 billion, with a year-on-year growth of 35.2%[23] - The two-wing business achieved revenue of RMB 6.131 billion, a year-on-year increase of 55.6%, contributing 40.0% to overall revenue growth[22] - The company’s smart connection business achieved revenue of RMB 4.06 billion, with a year-on-year growth of 35.2%, contributing 19.3% to the incremental revenue[40] - The energy business generated revenue of RMB 2.071 billion, a year-on-year increase of 121.5%, contributing 20.7% to the overall revenue growth[45] Operational Efficiency - The company aims to enhance its resource sharing and operational efficiency to support the expansion of 5G network coverage[27] - The average annual revenue per site was RMB 39,358, reflecting a 3.5% increase year-on-year[35] - The company aims to enhance its service capabilities by improving customer service and establishing a service supervision and evaluation system[34] - The company is focused on transforming from a "communication tower" to a "digital tower" by leveraging its site resources and innovative platforms[41] - The company is focusing on enhancing operational efficiency, aiming for a 5% reduction in operational costs through process optimization[97] Capital Expenditures and Investments - Capital expenditures for the year amounted to RMB 25.192 billion, with free cash flow reaching RMB 35.311 billion[46] - The company reduced its interest-bearing debt to RMB 101.304 billion, down by RMB 11.567 billion from the previous year[59] - The overall capital expenditure in 2021 reflects a strategic shift towards more efficient and sustainable operations compared to 2020[63] - The capital expenditure for new site construction and shared renovations was RMB 15,996 million, accounting for 63.5% of total capital expenditure in 2021[63] - The company plans to enhance its product system and accelerate the iteration of battery swap products, including the release of 3.0 technical standards[45] Shareholder Returns and Dividends - The company plans to maintain a dividend payout ratio of 70% for the year, with a proposed final dividend of RMB 0.02624 per share[18] - The company aims to distribute 50% or more of the annual distributable profits as dividends, considering factors such as operational performance and cash flow[103] - The final dividend, if approved, is expected to be paid around June 30, 2022[104] - The company will withhold a 10% corporate income tax on dividends paid to non-resident H-share shareholders[105] Governance and Management - The company has a strong board of directors with members holding advanced degrees and extensive experience in finance and management, enhancing corporate governance[85] - The management team includes professionals with significant backgrounds in telecommunications and finance, which supports the company's strategic objectives[89] - The company has implemented a robust internal audit system to ensure financial integrity and compliance with regulations[90] - The supervisory board confirmed that the company's decision-making processes adhered to relevant laws and regulations, with no violations reported during the year[199] Strategic Initiatives - The company aims to deepen its "one body, two wings" strategy, focusing on becoming a leading integrated service provider in information communication infrastructure[26] - The company is actively pursuing opportunities for mergers and acquisitions to enhance its competitive position in the market[88] - The company is exploring partnerships with tech firms to leverage AI and big data, aiming to increase service efficiency by 30%[92] - The company aims to expand its market presence through strategic investments and partnerships in the telecommunications sector[74] Social Responsibility and Sustainability - The company actively fulfills its social responsibilities, promoting resource-sharing and energy-saving initiatives, and enhancing customer service quality[188] - The management team emphasized the importance of sustainability, committing to invest 500 million yuan in green technology initiatives over the next three years[98] - The company is committed to leveraging national "dual carbon" goals to focus on key products such as battery swapping and backup power[34] Customer and Supplier Relations - Revenue from the top five customers accounted for 93.6% of total revenue, with the largest customer contributing 48.9%[143] - The company provided services to China Mobile, China Unicom, and China Telecom, which are its major shareholders, under a framework agreement valid from January 1, 2018, to December 31, 2022[149] - The pricing for services is determined through fair negotiation, considering construction costs, maintenance costs, and appropriate profit margins[150] Related Party Transactions - Independent non-executive directors confirmed that the related party transactions were conducted in the ordinary course of business and on normal commercial terms[186] - The independent auditor's letter confirmed that there were no issues regarding the approval of related party transactions or compliance with pricing policies[187]