Jin Rong Jie·2025-08-14 08:56Core Viewpoint - The former chairman of China Tower, Tong Jilu, and his family have been reported missing since late May 2023, raising concerns about potential investigations involving his son at China International Capital Corporation (CICC) [1][4]. Group 1: Company Background - China Tower was established in July 2014 as a state-owned enterprise to enhance telecommunications infrastructure and promote shared resources among major telecom operators [2]. - The company primarily focuses on the construction, maintenance, and operation of communication towers and related facilities, playing a crucial role in China's 5G infrastructure development [2]. - Tong Jilu served as both chairman and general manager of China Tower, consolidating significant power within the company until he stepped down as general manager in June 2019 [2][3]. Group 2: Financial Performance - In the first half of 2025, China Tower reported a revenue of 49.601 billion yuan, reflecting a year-on-year growth of 2.8% [5][6]. - For the fiscal year 2024, the company achieved a revenue of 97.772 billion yuan, marking a 4.0% increase compared to the previous year, with major contributions from the three state-owned telecom operators [6]. - As of the end of 2024, China Tower's total assets exceeded 330 billion yuan, with a net asset value surpassing 200 billion yuan, solidifying its position as the largest telecommunications infrastructure service provider globally [6].