CHINA TOWER(00788) 证券时报网·2025-03-18 00:29Core Insights - China Tower reported a revenue of 97.772 billion yuan for 2024, a year-on-year increase of 4.0%, with a net profit of 10.729 billion yuan, up 10.0% from the previous year, indicating enhanced profitability [1] - The company plans to distribute a final dividend of 0.30796 yuan per share, leading to a total annual dividend of 0.41696 yuan per share, which is an increase of 11.5% compared to 2023 [1] - The chairman expressed confidence in the company's role in the low-altitude economy, highlighting the extensive coverage of wireless mobile bases and the potential for resource sharing to reduce infrastructure costs [1] Operator Business Growth - The operator business generated revenue of 84.119 billion yuan in 2024, reflecting a 2.4% year-on-year growth, driven by the company's role in 5G infrastructure development [2] - Tower business revenue reached 75.689 billion yuan, a 0.9% increase, with the number of tower sites growing to 2.094 million, an increase of 48,000 sites from the previous year [2] - The average number of tenants per tower increased from 1.68 to 1.72, indicating improved site-sharing levels [2] Indoor Distribution Business - The indoor distribution business achieved revenue of 8.430 billion yuan, marking an 18.1% increase, with significant growth in coverage areas for buildings and transportation systems [3] - The coverage area for indoor distribution reached 12.68 billion square meters, a 24.9% increase, while the coverage mileage for high-speed rail tunnels and subways reached 29,315 kilometers, up 21.8% [3] Two-Wing Business Development - The two-wing business generated revenue of 13.388 billion yuan, accounting for 13.7% of total revenue, an increase of 1.5% year-on-year [4] - The smart connection business saw revenue of 8.911 billion yuan, a 22.4% increase, with a focus on disaster warning and agricultural protection [4] - The company expanded its partner network and established strategic collaborations to enhance service capabilities [4] Energy Business Growth - The energy business reported revenue of 4.477 billion yuan, a 6.2% increase, with the battery swap business contributing 2.500 billion yuan, accounting for 55.8% of energy revenue [6] - The number of battery swap users reached approximately 1.304 million, an increase of 159,000 users from the previous year, maintaining a leading position in the low-speed electric vehicle market [5][6] - The company is focusing on providing comprehensive solutions for backup power in key industries [6]