中国铁塔(00788) - 2022 - 年度财报

Financial Performance - In 2022, the company's operating revenue reached RMB 92.17 billion, a year-on-year increase of 6.5%[8]. - The profit attributable to shareholders was RMB 8.787 billion, reflecting a 19.9% increase compared to the previous year[8]. - The company's EBITDA was RMB 62.844 billion, with an EBITDA margin of 68.2%[24]. - The company achieved a net cash flow from operating activities of RMB 65.134 billion, up 7.7% year-on-year[8]. - The company's revenue from operator business reached RMB 83.031 billion in 2022, a year-on-year increase of 3.5%[39]. - The company reported a profit attributable to shareholders that grew by 17.6% on a comparable basis after adjusting for certain accounting changes[46]. - The EBITDA for 2022 was RMB 62.84 billion, a slight decline of 0.3% compared to the previous year[47]. - Operating expenses totaled RMB 78.86 billion, a year-on-year increase of 7.2%[55]. - The company achieved total operating revenue of RMB 92.17 billion in 2022, up from RMB 86.585 billion in 2021, marking a growth of 7.0%[46]. Revenue Breakdown - Tower business revenue reached RMB 77.204 billion, a year-on-year increase of 1.8%, with 745,000 5G construction demands completed, over 96% achieved through resource sharing[27]. - Indoor distribution business revenue amounted to RMB 5.827 billion, a year-on-year growth of 34.3%, with building coverage area reaching 7.39 billion square meters, up 48.1%[27]. - The two-wing business generated revenue of RMB 8.904 billion, accounting for 9.7% of total revenue, contributing 49.7% to overall revenue growth, an increase of 9.7 percentage points year-on-year[28]. - Smart connection business revenue was RMB 5.704 billion, growing 40.5%, with the tower vision business contributing RMB 3.694 billion, representing 64.8% of smart connection revenue[29]. - The energy business revenue grew by 54.5% year-on-year, reaching RMB 3.2 billion[8]. Operational Metrics - The number of tower sites operated and managed by the company reached 2.055 million, covering all 31 provinces, municipalities, and autonomous regions in China[5]. - The number of operator tower tenants increased to 3.362 million, a 3.1% growth from the previous year[14]. - The average annual revenue per site increased to RMB 40,512, a 2.9% rise from the previous year[14]. - The number of tower sites increased by 17,000 to 2.055 million, with operator tower tenants rising by 102,000 to 3.362 million, improving average tenants per site from 1.60 to 1.65[27]. Capital Expenditure and Cash Flow - The capital expenditure amounted to RMB 26.21 billion, while free cash flow was RMB 38.93 billion[47]. - Total capital expenditure for 2022 was RMB 26.207 billion, an increase of 4.0% compared to 2021[65]. - Operating cash flow for 2022 was RMB 65.134 billion, with free cash flow amounting to RMB 38.927 billion[67]. - The company's interest-bearing debt decreased to RMB 79.12 billion, down by RMB 22.19 billion from the previous year[62]. Dividend Policy - The company proposed a final dividend of RMB 0.03232 per share, with a payout ratio of 72%[24]. - The board proposed a final dividend of RMB 0.03232 per share for the year ended December 31, 2022, subject to shareholder approval at the annual general meeting[107]. - The dividend payment is expected to be made around June 30, 2023, if approved[107]. - The company emphasizes shareholder value and has adopted a dividend policy, planning to distribute 50% or more of the annual distributable profits as dividends[106]. Strategic Initiatives - The company aims to enhance its digital infrastructure services and energy green transformation, focusing on becoming a world-class information communication infrastructure service provider[31]. - The company plans to innovate construction service models and deepen mobile network coverage solutions to meet customer needs efficiently[31]. - The company is committed to risk management and enhancing internal controls to support high-quality development[30]. - The company will continue to promote resource sharing and energy-saving measures to support national carbon neutrality goals[30]. - The company plans to enhance its innovation-driven development strategy, focusing on key areas such as indoor coverage technology and green low-carbon energy applications[36]. Management and Governance - The company continues to focus on enhancing its operational efficiency and financial management through the expertise of its supervisory and management teams[91][92][93][94][97]. - The supervisory board is composed of professionals with advanced degrees and certifications, ensuring a high level of governance and oversight[92][93][94][97]. - The company is committed to leveraging its management team's extensive industry experience to drive future growth and strategic initiatives[91][92][93][94][97]. - The company has a diverse supervisory board with members like Mr. Li Zhangting and Ms. Han Fang, who have significant experience in finance and auditing within the telecommunications industry[93][94]. Shareholder Structure - As of December 31, 2022, the company's total share capital amounted to RMB 176,008,471,024, divided into 176,008,471,024 shares with a par value of RMB 1.00 each[116]. - The domestic shares constitute 73.49% of the total issued share capital, with China Mobile holding 27.93%, China Unicom 20.65%, and China Telecom 20.50%[117]. - The company’s shareholding structure includes significant stakes from major telecommunications operators, ensuring a stable ownership base[119]. Agreements and Transactions - The company has established a service framework agreement (2023-2027) with communication operators, with the expected annual cap percentage below 5%[161]. - The pricing policy for tower products includes a 2.4% discount on the benchmark price for existing orders prior to January 1, 2023[157]. - The company has established independent agreements with provincial subsidiaries based on the framework agreements to ensure localized service delivery[172]. - The procurement framework agreement with China Mobile Group was signed on December 24, 2022, and is effective until December 31, 2023[183]. Employee and Social Responsibility - The total employee cost for the year was RMB 794 million, covering salaries, social insurance, and other benefits for approximately 23,401 employees[145]. - The company made charitable donations totaling RMB 30.5 million during the year[142].