China Unicom(SH:600050)2020-10-21 16:00Financial Performance - Net profit attributable to shareholders was CNY 4.78 billion, reflecting a year-on-year growth of 10.8%[4] - Operating revenue for the first nine months was CNY 225.36 billion, up 3.8% from the same period last year[4] - The company reported a net profit excluding non-recurring gains and losses of CNY 4.95 billion, a significant increase of 24.7% year-on-year[4] - The main business revenue reached CNY 207.35 billion, representing a growth of 4.4% compared to the previous year[4] - The total revenue for the first three quarters of 2020 was RMB 207.349 billion, a 4.4% increase year-over-year, with EBITDA of RMB 73.547 billion, up 0.5%[11] - The net profit attributable to the parent company for the first three quarters was RMB 4.784 billion, reflecting a 10.8% increase compared to the same period last year[11] - The mobile service revenue for the first three quarters was RMB 116.539 billion, a decrease of 1.0% year-over-year, but showed a 2.5% increase in the third quarter alone[12] - The company’s total comprehensive income for Q3 2020 was ¥2.43 billion, compared to ¥2.87 billion in Q3 2019, a decrease of 15.2%[25] - The total profit for the first three quarters of 2020 was CNY 2,089,534,132, compared to CNY 1,891,443,427 in the same period of 2019, indicating an increase of about 10.5%[27] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 572.42 billion, an increase of 1.5% compared to the end of the previous year[4] - The company's total assets amounted to CNY 572.42 billion, an increase from CNY 564.23 billion at the end of 2019, reflecting a growth of approximately 1.05%[19] - The total liabilities of the company stood at CNY 242.77 billion, slightly up from CNY 240.73 billion, marking an increase of about 0.85%[20] - The company’s total current assets increased to CNY 111.38 billion from CNY 83.60 billion, representing a growth of approximately 33.3%[19] - The company’s short-term borrowings decreased significantly to CNY 1.09 billion from CNY 5.61 billion, a reduction of approximately 80.6%[20] - Total liabilities as of Q3 2020 were ¥1.82 billion, down from ¥2.99 billion in Q2 2020, indicating a decrease of 39.4%[22] Cash Flow - Cash flow from operating activities for the first nine months was CNY 76.82 billion, showing a slight increase of 0.1% year-on-year[4] - The net cash flow from operating activities for the first three quarters of 2020 was CNY 76,816,057,334, slightly higher than CNY 76,770,788,925 in the same period of 2019[30] - The cash and cash equivalents at the end of Q3 2020 amounted to CNY 21,279,952,784, down from CNY 29,461,065,063 at the end of Q3 2019, a decrease of about 27.7%[29] - The company reported a decrease in cash flow from financing activities, with a net cash outflow of CNY -21,942,683,449 in the first three quarters of 2020, compared to CNY -29,610,403,282 in the same period of 2019[29] User Metrics - As of September 30, 2020, the total mobile billing users decreased by 929,300 to 30,918,200, while 4G users increased by 1,268,300 to 26,644,900[11] - Fixed broadband users increased by 3.08 million to 8,655,800, with broadband access revenue reaching RMB 32.096 billion, up 3.7% year-over-year[12] Expenses and Investments - The company’s sales expenses decreased by 12.6% to RMB 22.465 billion, attributed to the digital transformation and cost control measures[15] - R&D expenses surged by 141.5% to RMB 1.179 billion, reflecting increased investment in technology development[15] - Research and development expenses in Q3 2020 were ¥505 million, significantly higher than ¥184 million in Q3 2019, reflecting a 174.5% increase[23] Future Strategies - Future strategies include deepening the focus on innovation and cooperation, enhancing core capabilities in government and enterprise services, and promoting digital transformation[13]