中国铁塔(00788) - 2023 - 中期业绩

Financial Performance - The company's operating revenue for the first half of 2023 reached RMB 46.461 billion, a year-on-year increase of 2.2%[3] - The EBITDA for the first half of 2023 was RMB 32.021 billion, with an EBITDA margin of 68.9%[3] - Profit attributable to shareholders was RMB 4.841 billion, representing a year-on-year growth of 14.6%[3] - Operating revenue for the six months ended June 30, 2023, was RMB 46,461 million, a 2.2% increase from RMB 45,479 million in the same period of 2022[14] - Operating profit for the same period was RMB 7,414 million, up from RMB 7,089 million, reflecting a growth of 4.6%[14] - Net profit attributable to shareholders for the period was RMB 4,841 million, compared to RMB 4,224 million in the previous year, representing a 14.6% increase[14] - The company reported a basic and diluted earnings per share of RMB 0.0277, an increase from RMB 0.0242 in the prior year[14] - The company reported a net profit attributable to shareholders of RMB 4.841 billion, a year-on-year increase of 14.6%[50] - Basic earnings per share for the six months ended June 30, 2023, was RMB 0.0277, up from RMB 0.0242 in the same period of 2022[28] Revenue Breakdown - The revenue from the indoor distributed antenna system (室分) business grew by 24.4% year-on-year, reaching RMB 3.424 billion[6] - The energy business revenue increased by 38.5% year-on-year, totaling RMB 1.975 billion[3] - In the first half of 2023, the company's revenue reached RMB 3.386 billion, representing a year-on-year growth of 31.0%, with the tower vision business contributing RMB 2.076 billion, accounting for 61.3% of the total revenue[8] - The energy business achieved revenue of RMB 1.975 billion in the first half of 2023, a year-on-year increase of 38.5%, with the tower battery swap business generating RMB 0.982 billion, making up 49.7% of the energy business revenue[8] - Revenue from tower business was RMB 37,481 million, a decrease of 2.9% from RMB 38,592 million in the same period last year[20] - The indoor distribution business generated RMB 3,424 million, a 24.3% increase from RMB 2,753 million in the previous year[20] - The operator business revenue was RMB 40.905 billion, a decrease of 1.1% year-on-year, while the smart connection business revenue grew by 31.0% to RMB 3.386 billion, and the energy business revenue increased by 38.5% to RMB 1.975 billion[43] Assets and Liabilities - The total assets as of June 30, 2023, reached RMB 318.063 billion, with interest-bearing liabilities of RMB 92.223 billion[3] - Total assets as of June 30, 2023, amounted to RMB 318,063 million, up from RMB 305,560 million at the end of 2022, indicating a growth of 4.9%[15] - Accounts receivable and other receivables increased significantly to RMB 63,665 million from RMB 42,260 million, marking a 50.7% rise[15] - Non-current liabilities rose to RMB 64,459 million, compared to RMB 46,811 million at the end of 2022, reflecting a 37.5% increase[16] - As of June 30, 2023, 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%[52] Cash Flow and Expenditures - The net cash flow from operating activities was RMB 11.555 billion, while capital expenditures amounted to RMB 12.822 billion[3] - Capital expenditures for the first half of 2023 were RMB 12.822 billion, an increase of RMB 3.737 billion compared to the previous year[51] - Operating costs for the first half of 2023 totaled RMB 39.047 billion, an increase of 1.7% year-on-year, with a cost-to-revenue ratio of 84.0%, down 0.4 percentage points from the previous year[44] - Depreciation and amortization expenses amounted to RMB 24.607 billion, a decrease of 1.1% year-on-year[45] Business Development and Strategy - The company completed approximately 325,000 5G construction demands in the first half of 2023, with over 95% achieved through existing resource sharing[6] - The two wings business (智联 and energy) generated revenue of RMB 5.361 billion, accounting for 11.5% of total revenue, an increase of 2.7 percentage points year-on-year[7] - The company plans to continue focusing on the C-end battery swap market and expand its logistics and dedicated network customer base, enhancing user scale and optimizing service systems[12] - The company aims to enhance its core capabilities in digital governance by leveraging its advantages in high-altitude and edge computing resources, transforming communication towers into digital towers[11] - 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 boost innovation capabilities[12] - The company has established a new five-year pricing agreement with the three major telecom operators to enhance market competitiveness[43] Risk Management and Compliance - The company emphasizes risk management and compliance, continuously improving internal control and legal compliance systems to enhance overall risk prevention capabilities[9] - The company has completed significant communication and network information security service tasks for major events, contributing to the reduction of the "digital divide" in remote areas[10] - The company has complied with the Corporate Governance Code as of June 30, 2023[54] - No contingent liabilities were reported as of June 30, 2023[56] - The company was not involved in any significant legal proceedings or arbitration during the six months ending June 30, 2023[56] Shareholder Information - The company declared a final dividend of RMB 0.03232 per share for the year ended December 31, 2022, totaling approximately RMB 5,689 million[30] - The aging analysis of accounts receivable showed that RMB 23,562 million was due within three months as of June 30, 2023[33] - Accounts receivable from China Mobile Group was RMB 28,894 million as of June 30, 2023, compared to RMB 17,791 million as of December 31, 2022[35] - The company has subsidiaries in western China that benefit from a preferential income tax rate of 15%, effective until the end of 2030[27] Forward-Looking Statements - The mid-term report will be published later on the company's and Hong Kong Stock Exchange's websites[56] - Any forward-looking statements made are based on current plans and estimates, and actual performance may differ significantly[56]