Core Insights - China Tower reported a revenue of 49.601 billion yuan for the first half of 2025, representing a year-on-year growth of 2.8% [2] - The profit attributable to shareholders reached 5.757 billion yuan, marking an 8% increase compared to the previous year [2] Revenue Breakdown - Operator business revenue was 42.461 billion yuan, with a year-on-year growth of 0.8% [2] - Smart connection business revenue amounted to 4.726 billion yuan, showing an 18.7% increase [2] - Energy business revenue reached 2.209 billion yuan, reflecting a growth of 9.2% [2] Profitability and Cash Flow - EBITDA stood at 34.227 billion yuan, up by 3.6% year-on-year [2] - Net cash flow from operating activities was 28.679 billion yuan, with free cash flow at 16.287 billion yuan [2] - The board decided to distribute an interim dividend of 0.1325 yuan per share before tax for 2025 [2] Strategic Focus - The company aims to optimize resource allocation and deepen reform and innovation to enhance operational quality and efficiency [2] - Future strategies include focusing on core technology breakthroughs, strengthening the supply of technological achievements, and promoting the integration of technological and industrial innovation [2]

Core Viewpoint - China Tower Corporation (00788) reported stable revenue growth and improved profitability in its interim results for the period ending June 30, 2025, with a notable increase in net profit and cash flow [1] Financial Performance - The company achieved an operating revenue of RMB 49.601 billion, representing a year-on-year growth of 2.8% [1] - EBITDA reached RMB 34.227 billion, reflecting a year-on-year increase of 3.6% [1] - Net profit attributable to shareholders was RMB 5.757 billion, showing a year-on-year growth of 8.0% [1] - The net cash flow from operating activities was RMB 28.679 billion, with free cash flow amounting to RMB 16.287 billion [1] Dividend Announcement - The board of directors decided to distribute an interim dividend for 2025, amounting to RMB 0.13250 per share (pre-tax) [1]

消息面上，中国铁塔午间发布截至2025年6月30日止半年度中期业绩，集团营业收入保持稳定增长，实 现人民币496.01亿元，同比增长2.8%；盈利能力持续提升，EBITDA达到人民币342.27亿元，同比增长 3.6%，归属于公司股东的利润为人民币57.57亿元，同比增长8.0%；实现经营活动现金流量净额人民币 286.79亿元，自由现金流达到人民币162.87亿元；董事会决定2025年继续派发中期股息，金额为每股人 民币0.13250元(税前)。 中国铁塔(00788)午后涨近3%，截至发稿，涨2.72%，报11.31港元，成交额1.47亿港元。 ...

Core Insights - China Tower Corporation (00788.HK) reported stable revenue growth for the first half of 2025, achieving operating revenue of 49.601 billion RMB, a year-on-year increase of 2.8% [1] - EBITDA reached 34.227 billion RMB, reflecting a year-on-year growth of 3.6% [1] - Profit attributable to shareholders was 5.757 billion RMB, up 8% compared to the previous year [1] - The company declared an interim dividend of 0.13250 RMB per share (pre-tax) [1] Revenue Breakdown - Revenue from operator services amounted to 42.461 billion RMB, showing a year-on-year increase of 0.8% [1] - Revenue from tower-related services was 37.797 billion RMB, remaining stable compared to the same period last year [1] - Revenue from indoor distributed antenna systems reached 4.664 billion RMB, marking a year-on-year growth of 12% [1] - Smart connection services generated revenue of 4.726 billion RMB, with an 18.7% year-on-year increase [1] - Energy services revenue was 2.209 billion RMB, reflecting a year-on-year growth of 9.2% [1]

Group 1 - The company China Tower (00788) announced that it will distribute an interim dividend of 0.1325 yuan per share on October 31, 2025 [1]

Core Viewpoint - China Tower (00788) announced that it will distribute an interim dividend of 0.1325 yuan per share on October 31, 2025 [1] Summary by Category - **Company Announcement** - China Tower will pay an interim dividend of 0.1325 yuan per share [1]

Core Insights - China Tower Corporation (00788.HK) reported stable revenue growth for the first half of 2025, achieving revenue of RMB 49.601 billion, a year-on-year increase of 2.8% [1] - EBITDA reached RMB 34.227 billion, up 3.6% year-on-year, with an EBITDA margin of 69.0% [1] - Net profit attributable to shareholders was RMB 5.757 billion, reflecting an 8.0% year-on-year growth, with a net profit margin of 11.6% [1] Revenue Breakdown - Revenue from operator services amounted to RMB 42.461 billion, a 0.8% increase year-on-year [1] - Tower business revenue was RMB 37.797 billion, remaining stable compared to the same period last year [1] - Indoor distributed antenna system (IDAS) revenue grew by 12.0% to RMB 4.664 billion [1] - Smart connection business revenue increased by 18.7% to RMB 4.726 billion [1] - Energy business revenue rose by 9.2% to RMB 2.209 billion [1] Cash Flow and Financial Position - Net cash flow from operating activities was RMB 28.679 billion, a decrease of RMB 4.151 billion year-on-year [2] - Capital expenditures totaled RMB 12.392 billion, with free cash flow reaching RMB 16.287 billion, down RMB 2.814 billion year-on-year [2] - As of June 30, 2025, total assets were RMB 331.127 billion, with interest-bearing liabilities of RMB 92.639 billion [2] - The net debt-to-equity ratio was 29.5%, a decrease of 1.5 percentage points from the end of the previous year, indicating a stable financial position [2]

Core Viewpoint - The company is actively promoting green development and transformation in response to national strategies, achieving significant results in building shared communication infrastructure and supporting high-quality development under the "dual carbon" goals [1][2]. Group 1: Green Development Initiatives - The company is committed to ecological priority and green development, focusing on shared communication infrastructure to enhance resource efficiency and support the telecommunications industry in building a high-quality 5G network [2]. - As of March 2025, the company has constructed over 5.6 million base stations, with public network coverage along high-speed rail and subways exceeding 66,000 kilometers, and indoor signal coverage in key areas surpassing 17.3 billion square meters [2]. - The sharing rate of newly built towers has increased from 14.3% at the company's inception to 85% currently, with over 95% of 5G base stations built using existing resources, saving land equivalent to 1.22 million new towers and reducing carbon emissions by 31 million tons [2]. Group 2: Resource Sharing and Collaboration - The company collaborates with various sectors, including municipal, transportation, and power, to promote mutual sharing of communication and utility resources, achieving significant cost savings in infrastructure investment [3]. - By the end of 2024, 30% of new tower sites will utilize social resources for construction, with over 10,000 kilometers of railway ducts and more than 3,000 utility poles shared, enhancing the efficiency of digital infrastructure development [3]. Group 3: Digital Transformation and Smart Governance - The company is transforming traditional communication towers into "digital towers," contributing to smart governance across multiple industries, with over 234,000 digital towers deployed for applications such as environmental monitoring and disaster response [4]. - The company supports smart city initiatives, enhancing meteorological observation capabilities in Beijing by utilizing existing tower sites for advanced weather monitoring technologies [4]. Group 4: Renewable Energy and Charging Infrastructure - The company leverages its extensive site resources to develop distributed power networks and energy storage systems, establishing a comprehensive charging and battery swap network across over 320 cities, with more than 80,000 swap points and 139,000 users [5]. - As the largest lightweight electric vehicle battery swap operator in the country, the company continues to drive green and low-carbon development [5].

Core Viewpoint - China Tower Corporation has played a crucial role in building the world's largest and highest-quality mobile broadband network, focusing on innovation, resource sharing, and integrated infrastructure for future development [2] Group 1: Digital Infrastructure Development - Digital infrastructure is fundamental for economic and social development, with China aiming to build a smart, integrated digital information infrastructure by 2021 [2] - China Tower has established over 5.6 million base stations and improved network quality significantly, achieving the best historical performance [3] Group 2: Resource Utilization and Innovation - The company plans to transform traditional communication towers into "digital towers" and data centers, enhancing resource sharing and asset value [3] - China Tower aims to integrate into the national computing power system, promoting distributed computing networks that are accessible and efficient [3] Group 3: Air and Underground Network Development - The company is advancing integrated air-ground networks, providing services for drone operations and collaborating with satellite internet companies [4] - Efforts are being made to enhance digital services in underground spaces, utilizing digital technologies for improved governance and smart applications [4] Group 4: Future Collaboration and Goals - China Tower expresses a willingness to collaborate globally in technology innovation, standard setting, and ecosystem building to strengthen digital infrastructure [4]

Group 1 - The 2025 Enterprise Intelligent Financial Innovation Seminar was held in Beijing, focusing on the digital transformation of corporate finance and exploring new paradigms for intelligent finance development [1] - The seminar was organized by the China Enterprise Financial Management Association and hosted by China Unicom Digital Technology Co., with participation from industry leaders, academic experts, and corporate elites [1] - Zhang Lianqi, President of the China Enterprise Financial Management Association, emphasized the importance of digital transformation for enhancing core competitiveness and sustainable development in enterprises [1] Group 2 - Liu Feng, Deputy General Manager of the Finance Department of China Unicom Group, discussed the company's approach to financial data governance and the practical application of advanced technologies in financial scenarios [1] - Experts at the seminar highlighted the transformative impact of artificial intelligence on finance, advocating for a systematic layout of strategy, organization, technology, data, and talent [2] - The discussion also covered the innovation path of "digitalization + localization," focusing on the development of a self-controlled, secure, and reliable core technology ecosystem [2]