Core Insights - The core viewpoint of the articles indicates that China Telecom's revenue has slightly decreased while net profit has increased, driven mainly by non-operating items, and highlights the contrasting performance between emerging and traditional businesses [1][3][4]. Financial Performance - In Q3 2025, China Telecom reported a revenue of 1248.48 billion RMB, a year-on-year decrease of 0.91% [1][2]. - The net profit attributable to shareholders increased by 3.60% to 77.56 billion RMB, primarily driven by non-operating projects [1][2]. - For the first three quarters of 2025, total revenue reached 394.27 billion RMB, a growth of 0.59% year-on-year, while net profit was 307.73 billion RMB, up 5.03% [2]. User Growth - The company added 12.67 million mobile users and 3.05 million broadband users in the first three quarters of 2025 [1][4]. - The total number of mobile users reached 437 million, with a 5G penetration rate of 66.9% [4]. - The net increase in mobile users was lower than the previous year's 14.90 million, and broadband user growth also slowed significantly from 6.10 million to 3.05 million [4]. Emerging Business Growth - Emerging businesses are identified as the main growth driver, with significant increases in revenue from strategic new businesses [3]. - IDC business revenue reached 27.5 billion RMB, growing by 9.1%, while security business revenue was 12.6 billion RMB, up 12.4% [3]. - "Smart revenue" surged by 62.3%, IoT revenue grew by 34.2%, and quantum revenue doubled with a growth of 134.6% [3]. Cost Control and R&D Investment - The company maintained effective cost control, with operating costs rising only 0.1% to 274.8 billion RMB [6]. - Sales expenses decreased by 1.4%, optimizing the expense structure [6]. - R&D expenses increased by 4.4% to 9.1 billion RMB, focusing on key technologies related to network, cloud, AI, and quantum security [6].