CHINA TELECOM(601728) 证券之星·2025-05-09 11:01Core Viewpoint - The annual general meeting of China Telecom Co., Ltd. will address various proposals including financial reports, profit distribution, and related party transactions with China Tower Co., Ltd. [1][2][3] Financial Reports - The financial statements for the year 2024 have been audited and received a standard unqualified opinion from external auditors [5][6] - The proposed cash dividend for 2024 is RMB 0.0927 per share, totaling approximately RMB 8.48 billion, which represents 72% of the company's profit attributable to shareholders [13][14] Profit Distribution - The company seeks authorization from shareholders to determine the mid-term profit distribution plan for 2025 [5][6] - The total profit distribution plan for 2024 includes a cash dividend of RMB 23.77 billion, which includes previously distributed mid-term dividends [14] Related Party Transactions - The company will continue to execute the related party transaction agreement with China Tower, which includes leasing services for communication towers [15][16] - The agreement is set for five years, from January 1, 2023, to December 31, 2027, with a focus on fair pricing based on construction costs and maintenance [19][20] External Auditors - The company recommends reappointing KPMG Huazhen and KPMG Hong Kong as external auditors for the year 2025, citing their satisfactory performance in the previous audit [21][22] Insurance for Directors and Officers - The company proposes to purchase liability insurance for its directors, supervisors, and senior management to mitigate management risks [23][24] Board Elections - The company will elect Mr. Lu Yongzhong as a non-executive director to replace Mr. Chen Shengguang, who is undergoing a work adjustment [24][25] Share Buyback Authorization - The company seeks authorization to repurchase up to 10% of its issued A and H shares, allowing flexibility in response to market conditions [26][27]