中国铁塔(00788) - 2023 - 中期财报

Financial Performance - In the first half of 2023, the company's operating revenue reached RMB 46.461 billion, a year-on-year increase of 2.2%[5] - The company's profit attributable to shareholders was RMB 4.841 billion, reflecting a 14.6% increase compared to the same period last year[11] - The company's EBITDA for the first half of 2023 was RMB 32.021 billion, with an EBITDA margin of 68.9%[11] - Operating revenue for the six months ended June 30, 2023, was RMB 46,461 million, an increase of 2.2% from RMB 45,479 million in the same period of 2022[36] - Operating profit for the same period was RMB 7,414 million, up 4.6% from RMB 7,089 million year-on-year[36] - Profit for the period attributable to equity holders was RMB 4,841 million, representing a 14.6% increase compared to RMB 4,224 million in the previous year[36] - Basic and diluted earnings per share for the period were RMB 0.0277, compared to RMB 0.0242 in the same period last year[36] Revenue Breakdown - The revenue from the operator business was RMB 40.905 billion, a decline of 1.1% year-on-year, but a 3.4% increase when excluding the impact of business pricing agreements[14] - The smart connection business revenue grew by 31.0% year-on-year, reaching RMB 3.386 billion[5] - The energy business revenue increased by 38.5% year-on-year, totaling RMB 1.975 billion[5] - The two wings business generated revenue of RMB 5.361 billion, accounting for 11.5% of total operating revenue, an increase of 2.7 percentage points year-on-year[16] - In the first half of 2023, the smart connection business achieved revenue of RMB 3.386 billion, a year-on-year increase of 31.0%, with the tower vision business contributing RMB 2.076 billion, accounting for 61.3% of the smart connection revenue[17] - The energy business generated revenue of RMB 1.975 billion in the first half of 2023, representing a year-on-year growth of 38.5%, with the tower battery swap business contributing RMB 0.982 billion, accounting for 49.7% of the energy business revenue[17] Capital Expenditures and Investments - Capital expenditures for the first half of 2023 amounted to RMB 12.822 billion, a significant increase of 41.1% year-on-year[5] - The total cost of property, plant, and equipment additions for the six months ended June 30, 2023, was RMB 15,697 million, significantly higher than RMB 8,423 million for the same period in 2022[65] - The net cash used in investing activities was RMB (15,315) million, compared to RMB (11,580) million in the previous year, indicating increased investment[43] Cash Flow and Financial Position - The net cash flow from operating activities was RMB 11.555 billion, a decrease of 63.1% compared to the previous year[5] - For the six months ended June 30, 2023, the operating cash flow generated was RMB 13,502 million, a decrease of 59% from RMB 32,995 million in the same period of 2022[43] - The cash and cash equivalents at the end of the period were RMB 3,140 million, down from RMB 6,908 million at the end of the previous year[43] - As of June 30, 2023, the company's total assets were RMB 318.063 billion, with total liabilities of RMB 125.284 billion, resulting in a debt-to-asset ratio of 39.4%[32] Strategic Focus and Development - The company plans to continue focusing on the "one body, two wings" strategic layout, enhancing value and promoting high-quality development in the second half of the year[20] - The company aims to leverage the advantages of shared development policies and enhance service capabilities to meet customer needs more effectively, particularly in the 5G indoor coverage construction[20] - The company is committed to increasing R&D investment in key technologies such as intelligent operation and maintenance, edge computing networks, and video AI algorithms to enhance innovation capabilities[21] - The smart connection business will focus on transforming communication towers into digital towers and data rooms, emphasizing digital governance in various sectors[20] Compliance and Governance - The company emphasizes compliance management and risk control to ensure sustainable development and high-quality growth[18] - The company has adhered to the Corporate Governance Code during the six months ending June 30, 2023[122] - The Audit Committee has reviewed the accounting standards and practices adopted by the company[121] - The company has adopted a securities trading code for directors and employees that aligns with the standards set out in the listing rules[123] Shareholder Information - The company approved a final dividend of RMB 0.03232 per share for the year ended December 31, 2022, totaling approximately RMB 5,689 million[78] - No interim dividend was declared for the six months ended June 30, 2023, consistent with the previous year[78] - As of June 30, 2023, 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[117] - China Unicom Group held 36,345,836,822 shares, accounting for 28.10% of the relevant class of shares and 20.65% of the total issued shares as of June 30, 2023[118] - China Telecom Group held 36,087,147,592 shares, which is 27.90% of the relevant class of shares and 20.50% of the total issued shares as of June 30, 2023[118]