香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲 明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （股份代號：0008 ) 截至 2024 年 12 月 31 日止年度業績公告 電訊盈科有限公司（「電訊盈科」或「本公司」）董事（「董事」）謹此宣佈本公司及其附屬公司 （統稱「本集團」）截至 2024 年 12 月 31 日止年度的經審核綜合業績。 • Viu訂購用戶基礎增長百分之十七至1,550萬5，並在印尼、馬來西亞及泰國錄得強勁增長 1 • 藝人管理及活動業務表現強勁，帶動免費電視及相關業務收益突破港幣10億元 • 收益增加百分之三至港幣375.57億元 • 香港電訊收益（未計流動通訊產品銷售）增加百分之二至港幣320.31億元 • OTT業務收益達港幣24.58億元 • 免費電視及相關業務收益上升百分之十一至港幣10.57億元 • EBITDA增加至港幣128.49億元 • 香港電訊EBITDA上升百分之三至港幣137.43億元 • OTT業務錄得EBITDA港幣3.98億元 • 免費電視及相關業 ...

User Growth and Engagement - Viu achieved a milestone of 11.7 million paid users as of June 30, 2024, with over 110 new titles added during the period, driving subscriber growth[14] - ViuTV's digital membership increased by 6% to 3.2 million, driven by engaging content and unique productions[16] - Viu's paid user base reached 11.7 million, adding over 110 new titles[50] - Viu's paid user base reached 11.7 million, an 11% year-on-year increase, with significant growth in Indonesia, Thailand, and the Middle East[61] Financial Performance - For the six months ending June 30, 2024, the company reported a revenue growth of 5% and EBITDA growth of 1% due to increased contributions from its media business and cost efficiencies[19] - Revenue increased by 5% to HKD 17.698 billion[50] - Total revenue for the six months ended June 30, 2024, was HKD 17,698 million, an increase of 5.0% compared to HKD 16,850 million in 2023[110] - The media business generated external revenue of HKD 1,325 million for the six months ended June 30, 2024, up from HKD 1,146 million in the prior year, marking a growth of around 15.7%[110] - The net profit for the six months ended June 30, 2024, decreased to HKD 351 million, down 31.4% from HKD 512 million in 2023[89] Revenue Breakdown - Hong Kong telecommunications revenue (excluding mobile product sales) rose by 3% to HKD 15.683 billion[50] - OTT business revenue increased by 12% to HKD 1.089 billion[50] - Free TV and related business revenue rose by 23% to HKD 480 million[50] - Mobile communication service revenue grew by 5% to HKD 3,990 million, driven by increased roaming revenue and a net increase in postpaid customers[55] - The external revenue from Hong Kong Telecommunications segment was HKD 16,000 million for the six months ended June 30, 2024, compared to HKD 15,335 million in the same period of 2023, reflecting an increase of approximately 4.3%[110] Cost and Expenses - The cost of sales for the same period rose to HKD 8,939 million, reflecting a 7.8% increase from HKD 8,292 million in 2023[89] - The group's operating costs rose by 5% to HKD 30.87 billion, primarily due to increased promotional costs for OTT services aimed at boosting market penetration and paid subscriptions[70] - The total sales cost, excluding the cost of goods sold, rose slightly from HKD 5,739 million in 2023 to HKD 5,776 million in 2024, an increase of 0.6%[113] EBITDA and Profitability - EBITDA increased by 1% to HKD 5.672 billion[50] - EBITDA for the six months ended June 30, 2024, rose by 3% to HKD 6.168 billion, with an EBITDA margin stable at 37%[58] - The EBITDA for Hong Kong Telecom was HKD 6,009 million, with an EBITDA margin of 37%[54] - The company experienced a 10% increase in operating profit, amounting to HKD 1,824 million[51] Dividends and Shareholder Returns - The board declared an interim dividend of HKD 0.0977 per ordinary share for the six months ending June 30, 2024, reflecting a cautious dividend policy aimed at strengthening financial stability[19] - The interim dividend declared for the six months ended June 30, 2024, is HKD 0.0977 per share, unchanged from the previous year[87] Debt and Financing - The total debt as of June 30, 2024, was HKD 563.84 billion, up from HKD 523.29 billion as of December 31, 2023, with a debt-to-asset ratio of 59%[79] - Interest income for the six months ended June 30, 2024, was HKD 68 million, while financing costs rose by 21% to HKD 13.90 billion, leading to a net financing cost increase of 24% to HKD 13.22 billion[73] - The financing costs increased to HKD 1,390 million for the six months ended June 30, 2024, from HKD 1,153 million in the same period of 2023, representing an increase of approximately 20.6%[111] Operational Strategy and Future Outlook - The company is focused on prudent expansion in the video streaming and local television sectors, leveraging the robust foundation of Hong Kong Telecom to drive profit growth[13] - The company plans to continue leveraging its integrated fiber and mobile networks to provide innovative service solutions amid a challenging business environment[54] - The company plans to continue investing in enhancing digital capabilities and expanding the 5G network, considering current market conditions[81] Management and Governance - 唐永博 appointed as Vice Chairman of PCCW in August 2023, bringing extensive telecommunications management experience[29] - Meng Shusen serves as a non-executive director and is currently the Chairman and CEO of China Unicom International, with a strong background in international business[31] - Wei Zhe has over 20 years of experience in investment and operations management, previously serving as CEO of Alibaba Group during its IPO in 2007[32] Share Incentive Plans - The company plans to continue its share incentive program to align the interests of participants with those of shareholders[177] - The share incentive plan includes vesting periods ranging from 1 to 4 years, promoting long-term commitment from participants[177] - The total number of shares awarded under the 2020 plan is 6,141,746 shares, with 3,895,874 shares that have vested[178]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲 明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 1 PCCW Limited （於香港註冊成立的有限公司 ) （股份代號：0008 ) 截至 2024 年 6 月 30 日止六個月的 中期業績公告 電訊盈科有限公司（「電訊盈科」或「本公司」）董事（「董事」）謹此宣佈本公司及其附屬公司 （統稱「本集團」）截至 2024 年 6 月 30 日止六個月的未經審核綜合業績。本簡明綜合中期財務資料 雖未經審核，惟已經本公司的審核委員會審閲，並按照香港會計師公會頒佈的《香港審閲委聘準則》 2410 由實體獨立核數師執行中期財務資料審閲工作的準則由本公司的獨立核數師羅兵咸永道會計師 事務所審閲。 • Viu 的付費用戶達 1,170 萬名，並增添超過 110 部新作品 • ViuTV 的數碼會員數目達 320 萬名，並管理 65 位藝人 • 收益增加百分之五至港幣176.98億元 • 香港電訊收益（未計流動通訊產品銷售）增加百分之三至港幣156.83億元 • OTT ...

Investment Rating - The report does not explicitly mention an investment rating for the company [1][2][3] Core Viewpoints - The company, PCCW, has experienced significant market value erosion since the dot-com bubble burst, with its market cap dropping from a peak of HKD 580 billion to around HKD 30 billion [2] - PCCW's revenue growth has been stagnant, with a 10-year CAGR of only 1% from 2014 to 2023 [6] - The company has undergone significant business restructuring, focusing primarily on telecom and media, with telecom contributing 94% of revenue in 2023 [11] - PCCW's core telecom business, Hong Kong Telecom, is heavily reliant on fixed-line services, which are in a mature-to-decline phase, while mobile services are still in the early stages of 5G adoption [16][25][28] - The company has a strong dividend history, paying out HKD 27 billion in dividends over the past 5 years, representing 65% of its free cash flow [37][38] Business Overview - PCCW was founded in 1993 and became a major player in Hong Kong's telecom market after acquiring Hong Kong Telecom in 2000 for USD 35.9 billion [2] - The company's major shareholders include Li Ka-shing's son, Richard Li, who holds 24.92%, and China Unicom, which holds 18.41% [3][5] - PCCW's business segments have been streamlined, with telecom and media now accounting for 94% and 9% of revenue, respectively [11] - The company has divested several non-core assets, including Now TV and its property business, to focus on its core telecom operations [11] Financial Performance - PCCW's revenue in 2023 was HKD 36.3 billion, with Hong Kong Telecom contributing HKD 34.3 billion [15] - The company's EBITDA improved to HKD 12.8 billion in 2023, with an EBITDA margin of 35.3%, the highest in 5 years [33] - Capital expenditures have decreased significantly, from HKD 5 billion in 2019 to HKD 2.3 billion in 2023, contributing to improved free cash flow [34][36] - Free cash flow increased from HKD 6.1 billion in 2019 to HKD 11 billion in 2023 [36] Industry Analysis - Hong Kong's telecom market is highly competitive, with 28 licensed fixed-line operators and 4 major mobile operators [22][25] - Fixed-line penetration in Hong Kong remains high at 66.8%, compared to 13% in mainland China and 29% in the US [20] - The mobile market is saturated, with a penetration rate of 282%, and 5G adoption is still in its early stages, with 68.2% of mobile users on 5G as of March 2023 [26][28] - Hong Kong Telecom's mobile business is heavily reliant on hardware sales, with 26% of its mobile revenue coming from device sales in 2023 [30] Dividend and Shareholder Returns - PCCW has a strong track record of paying dividends, with HKD 27 billion paid out over the past 5 years [37] - The company's dividend payout ratio is 65% of its free cash flow, indicating a strong commitment to returning capital to shareholders [37] - For long-term investors, dividends have been a significant source of returns, with an annualized return of 15.75% from 2014 to 2023, assuming reinvestment of dividends [38]

Viu Platform Performance - Viu's monthly active users reached 62.4 million by the end of 2023[4] - Viu's subscription revenue grew by 32% and total revenue increased by 27% in 2023[6] - Viu's monthly active users reached 62.4 million, with overall revenue increasing by 27% year-over-year, driven by a 32% rise in subscription revenue and a 15% increase in advertising revenue[9] - Viu's paid subscription revenue grew by 32%, with 1.34 million paying subscribers, a 10% increase, and monthly active users (MAU) reached 6.24 million[20] - Viu's advertising revenue increased by 15% YoY, with monthly active users reaching 62.4 million as of December 31, 2023[113] - Viu's OTT business EBITDA surged by 233% to HKD 592 million, with margin increasing from 9% to 24%[113] - Viu's paying subscriber base grew by 10% to 13.4 million, with subscription revenue increasing by 32% year-on-year[112] 5G and Broadband Network Expansion - The company's 5G customer penetration rate in the postpaid customer base expanded to 41%[6] - The company's 10G broadband network now covers 2.4 million households, with a significant increase in 2500M service adoption[6] - The 5G customer base reached nearly 1.4 million by the end of 2023, accounting for 41% of postpaid customers and over half of csl and 1O1O customers[13] - The company's 2500M broadband service saw a significant increase in user numbers, with service plan fees rising by HKD 98, and the company is prepared to offer up to 10G high-speed services to 2.4 million households[13] - Hong Kong Telecom's 5G customer base grew to 1.4 million, a 32% increase, and FTTH (Fiber-to-the-Home) customers reached 1.01 million, a 4% increase[21] - Mobile communication service revenue grew by 5% to HKD 8.348 billion, driven by roaming recovery and strong 5G adoption, with 5G penetration reaching 41% of postpaid customers by the end of 2023[107] Revenue and Financial Performance - The company's revenue in mainland China grew significantly by 32%[6] - The company's outbound roaming revenue in the second half of 2023 recovered to 95% of pre-pandemic levels[6] - The company's OTT business EBITDA grew more than twofold[6] - The company's roaming revenue surged by 176% in 2023, with roaming user numbers nearly doubling, and December's roaming revenue exceeding pre-pandemic levels[12] - Hong Kong Telecom's total revenue reached HKD 31.37 billion, a 3% increase, with EBITDA of HKD 13.4 billion, also a 3% increase[21] - Total revenue increased by 1% to HKD 36.347 billion, with Hong Kong Telecom's revenue rising by 1% to HKD 34.330 billion and OTT business revenue growing by 22% to HKD 2.452 billion[97] - EBITDA increased by 4% to HKD 12.831 billion, with Hong Kong Telecom's EBITDA rising by 3% to HKD 13.400 billion and OTT business EBITDA surging by 233% to HKD 592 million[97] - The company's overall revenue for 2023 was HKD 36.347 billion, with EBITDA of HKD 12.831 billion[19] - The company's loss from continuing operations attributable to equity holders improved to HKD 471 million[97] - The final dividend per ordinary share is HKD 28.48 cents, bringing the full-year dividend to HKD 38.25 cents per ordinary share[97] - The board declared a final dividend of HKD 28.48 cents per share, bringing the full-year dividend to HKD 38.25 cents per share[100] - Adjusted funds flow for 2023 rose by 3% to HKD 5.798 billion, with a full-year distribution of HKD 0.7649 per stapled unit[110] Media and Entertainment Business - The company's MakeALive online and live events expanded to five Asian markets[6] - The company's ViuTV maintained advertising revenue despite a weakening TV advertising market[6] - The company's Viu platform serves 16 markets across Asia, the Middle East, and South Africa[4] - ViuTV's online platform registered members grew by 9% to over 3 million, supported by popular shows like "Legal and Love" and "Office Romance"[10] - The company's MakeALive service expanded to five Asian markets, showcasing its capability to host online and ticketed live events for its artists and other performers[11] - The company's media business saw OTT revenue of HKD 2.452 billion, a 22% increase, and free TV and related business revenue of HKD 952 million, a 5% increase[20] - Free TV and related business revenue increased by 5% to HKD 952 million, with EBITDA nearly doubling to HKD 190 million[99] - ViuTV achieved stable ratings and attracted sponsors from various industries with its diverse entertainment programs[99] - The company expanded into new entertainment formats such as movies, stage plays, and overseas events, contributing to stable growth in event and artist management businesses[99] - Free TV and related business revenue grew by 5% to HKD 952 million, with EBITDA increasing by 96% to HKD 190 million[114] - ViuTV's digital platform registered members grew by 9% YoY to over 3 million[115] - ViuTV's EBITDA for the year ended December 31, 2023, increased by 96% to HKD 190 million, with margin rising from 11% to 20%[116] Corporate Governance and Leadership - Mr. Tse, aged 86, serves as a non-executive director of PCCW and has extensive experience in the insurance industry across Asia and globally[27] - Mr. Tang, aged 49, was appointed as a non-executive director and vice chairman of PCCW in August 2023, and also holds senior positions in China United Network Communications Group[27] - Ms. Meng, aged 51, was appointed as a non-executive director of PCCW in December 2021 and serves as the chairman and president of China Unicom International[28] - Ms. Wang, aged 53, was appointed as a non-executive director of PCCW in December 2021 and serves as the general manager of the finance department at China United Network Communications Group[28] - Mr. Wei, aged 53, has been a non-executive director of PCCW since May 2012 and has over 20 years of experience in investment and operational management in China[28] - Vision Deal HK Acquisition Corp. is led by Mr. Wei as Executive Director and Chairman, who also chairs the Nomination Committee[30] - Mr. Wei serves as a Non-Executive Director for Polestar Automotive Holding UK PLC and JNBY Co., Ltd[30] - Mr. Wei was recognized as one of "China's Best CEOs" by FinanceAsia magazine in 2010[30] - Mr. Wei holds a degree in International Business Management from Shanghai International Studies University[30] - Mr. Wei has extensive experience in the banking sector, including roles at HSBC and PricewaterhouseCoopers[30] - Mr. Wei has served as an Independent Non-Executive Director for multiple companies, including 500.com Limited and BlueCity Holdings Limited[30] - Mr. Wei was appointed as an Independent Non-Executive Director for China Chain Store & Franchise Association[30] - Mr. Wei has held positions in various international banking roles, including in Saudi Arabia and the United States[30] - Mr. Wei has been involved in the establishment of the Zhi Li Education Fund in Hong Kong[31] - Mr. Wei has a background in corporate finance and investment banking, with experience at PricewaterhouseCoopers and HSBC[30] Risk Management and Compliance - The company's risk management and internal control systems, including ESG risks, are reviewed at least annually by the audit committee[67] - The company has established a robust risk management culture, ensuring operational units identify and manage risks with corresponding controls[68] - The company promotes a strong compliance and risk management culture across the organization, adhering to ethical standards through comprehensive policies and processes[69] - The company has established a comprehensive anti-bribery and corruption policy and procedure manual, ensuring integrity and reducing corruption risks[70] - The company maintains strict confidentiality and efficient handling of insider information, ensuring proper approval before disclosure[70] - The company has a three-line defense model for risk management, with clear responsibilities for risk identification, oversight, and independent assurance[74] - The company’s risk management framework includes regular reviews by the Risk Management, Monitoring, and Compliance Committee, reporting significant risks to the Board[75] - The Group Internal Audit Department adopts a risk-based audit approach, covering major risks across operations and reporting findings to senior management and the Audit Committee[76] - The company ensures asset protection and compliance with accounting standards through established policies and controls[72] - The company’s risk management process combines top-down and bottom-up approaches for comprehensive risk identification and mitigation[74] - The Group Risk Management and Compliance Department oversees the enterprise risk management framework and regularly reports to the Audit Committee[75] - The company’s internal audit function is independent of management, reporting directly to the Board and the Audit Committee[76] - The company’s senior management, with the assistance of risk management committees, designs and monitors the enterprise risk management and internal control systems[76] - The company has adopted the principles of ISO 31000:2018 for managing business and operational risks, integrating risk management into daily operations[78] - The company conducts annual certifications to ensure the effectiveness of its enterprise risk management and internal control systems[78] - In 2023, the company increased training sessions and risk workshops, unified risk reporting terminology, and enhanced communication with authorized directors regarding risk management[82] - The company's internal audit function focuses on IT security, data privacy, third-party management, and regulatory compliance[82] - The company's risk management framework is considered adequate and effective, with sufficient resources and staff qualifications[83] - External auditors also assess the adequacy and effectiveness of the company's risk management and internal controls as part of their statutory audit[83] - The company continuously improves its risk management capabilities, particularly in managing environmental, social, and governance (ESG) risks[84] - The company maintains a risk register to track and monitor risk mitigation actions across operational units[81] - The company's risk management process includes risk identification, analysis, evaluation, and the implementation of mitigation plans[80] - The company's risk management and compliance department regularly reports to the audit committee and other subcommittees on risk assessment progress[77] - The company has implemented measures to combat cyber threats, including subscribing to attack surface management and continuous automated red teaming solutions, as well as bounty hunting platforms for in-depth threat assessments[85] - The company ensures strict compliance with data privacy laws and IT security policies, conducting continuous reviews of endpoint security and network protection to maintain high information security standards[85] - The company is adopting an enhanced technology evaluation framework for AI to address potential vulnerabilities and ensure effective governance and supervision in meeting regulatory requirements and managing technology risks[86] - The company has launched various business projects to achieve sustainable growth and create long-term value for stakeholders, with ongoing risk management support to ensure timely and high-quality project delivery[86] - The company has established training, performance management, and recognition programs to retain and develop talent, supported by the implementation of a human resources system and succession planning to mitigate the impact of key personnel loss[87] - The company has adopted business continuity management policies and corporate incident response plans to ensure prompt handling of major incidents and maintain normal business operations[87] - The company leverages its strengths, such as product functionality, coverage, timely product launches, and market experience, to maintain competitiveness in a market increasingly driven by innovations like generative AI[89] - The company is expanding its diversified business portfolio into industries like fintech and health tech, while monitoring political and macroeconomic changes to mitigate potential financial and strategic risks[89] - The company is exploring strategic business opportunities through internal growth and potential mergers or strategic investments in the telecom and technology markets[89] Sustainability and Corporate Social Responsibility - The company has integrated environmental elements into sustainable business operations, including electric vehicle charging solutions through a joint venture with CLP Holdings[132] - The company has installed solar panel systems on four machine buildings and plans to install more to promote renewable energy[133] - The company has adopted paperless systems and sustainable materials in its operations, including PEFC-certified paper and eco-friendly materials in employee canteens[134] - The company has signed sustainability-linked loans totaling over USD 3.9 billion with financial institutions as of December 31, 2023[134] - The company has received multiple awards for its sustainability efforts, including being ranked in the top 67% of global telecommunications peers by MSCI ESG Ratings[135] - The company was awarded the "Best ESG Report Award - Mid Cap" and "ESG Best Performance Award - Mid Cap" at the BDO ESG Awards[136] - The company has established a comprehensive employee performance evaluation system and reward program to foster a performance-based culture[137] - The company has launched a membership rewards program called The Club, which helps attract customers and provides opportunities for personalized services[138] - The company received over 80 customer service awards in 2023 and over 22,000 customer praises[139] - The company maintains partnerships with over 5,000 global suppliers and has implemented responsible procurement practices[140] - The company has obtained ISO 9001:2015 certification for its quality management system since 2018[141] - The company provided over HKD 17 million in donations and materials to support the Hong Kong community[142] - The company has implemented a "Volunteer Recognition Program" to provide volunteer leave for employees participating in community services[143] - The company adheres to multiple laws and regulations, including the Telecommunications Ordinance and the Personal Data (Privacy) Ordinance[144] Shareholder and Dividend Information - The final dividend per ordinary share is HKD 28.48 cents, bringing the full-year dividend to HKD 38.25 cents per ordinary share[97] - The board declared a final dividend of HKD 28.48 cents per share, bringing the full-year dividend to HKD 38.25 cents per share[100] - Proposed final dividend of HKD 28.48 cents per ordinary share for the year ended December 31, 2023, subject to approval at the Annual General Meeting on May 30, 2024[127] - Interim dividend of HKD 9.77 cents per ordinary share paid in September 2023 for the six months ended June 30, 2023[127] - The company paid an interim dividend of HKD 9.77 cents per ordinary share in September 2023, totaling approximately HKD 756 million[151] - The board proposed a final dividend of HKD 28.48 cents per ordinary share for the year ended December 31, 2023, subject to shareholder approval[151] Legal and Regulatory Compliance - The company's compliance with the Competition Ordinance could result in a maximum fine of 10% of annual turnover in Hong Kong for up to three years for serious anti-competitive behavior[148] - Violations of the Telecommunications Ordinance could result in a maximum fine of HKD 1 million or a higher amount as determined by the court[145] - Violations of the Broadcasting Ordinance could result in a maximum fine of HKD 1 million, with the possibility of license revocation in severe cases[146] - Violations of the Trade Descriptions Ordinance could result in a maximum fine of HKD 500,000 and imprisonment for up to five years[147] - The company has appointed a Group Data Protection Officer to oversee all activities related to data privacy compliance[149] - The company will publish a separate 2023 Environmental, Social, and Governance report in accordance with the ESG Reporting Guide[150] Share and Option Plans - The total number of shares that can be issued under the 2014 Share Option Scheme is 728,229,465, representing approximately 9.41% of the issued shares as of the annual report date[175] - The company's 2014 share option plan has not granted any options since its adoption until December 31, 2023, with the number of authorized options remaining at 728,229,465 as of both January 1, 2023, and December 31, 2023[177] - The total number of shares available for issuance under the PCCW Subscription Plan is 71,254,636, representing approximately 0.92% of the issued shares as of the annual report date[179] - The PCCW Share Award Plans have been extended for 10 years, effective from November 15, 2022, and will expire on November 14, 2032[182] - Total unvested shares as of December 31, 2023, amounted to 6,391,875[184] - Total shares granted during the year were 4,554,458[184] - Total shares forfeited or lapsed during the year were 854,626[184] - Total shares vested during the year were 4,769,362[184] - The highest number of shares granted to a single individual (Xu Hanqing) was 1,123,822 on August 4, 2023[184] - The total number of shares granted to the top five highest-paid individuals was 442,326[184] - The total number of shares granted to service providers was 1,162,304[184] - The total number of shares granted to other recipients was 531,004[184] - The fair value of shares granted on August 4, 2023, was HKD 3.92 per share[184] - The fair value of shares granted on May 30, 2023, was HKD 4.02 per share[184] - Total unvested share awards as of December 31, 2023, amounted to 2,137,481 units[185] - Total share awards granted during the year were 1,473,141 units[185] - Total share awards forfeited or lapsed during the year were 349,055 units[185] - Total share awards vested during the year were 1,488,259 units[185] - The fair value of share awards granted in 2023 ranged from HKD 9.05 to HKD 10.18 per unit[185] - The highest number of share awards granted to a single participant in 2023 was 262,563 units[185] - The total number of share awards granted to service providers in 2023 was 224,336 units[185

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲 明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 PCCW Limited （於香港註冊成立的有限公司） （股份代號：0008） 截至 2023 年 12 月 31 日止年度業績公告 電訊盈科有限公司（「電訊盈科」或「本公司」）董事（「董事」）謹此宣佈本公司及其附屬公司 （統稱「本集團」）截至 2023年12月31日止年度的經審核綜合業績。 • 收益增加百分之一至港幣363.47億元 • 香港電訊總收益上升百分之一至港幣343.30億元，未計流動通訊產品銷售，香港電訊總收 益上升百分之三至港幣313.70億元 • OTT業務收益上升百分之二十二至港幣24.52億元 • 免費電視及相關業務收益上升百分之五至港幣9.52億元 • EBITDA增加百分之四至港幣128.31億元 • 香港電訊EBITDA上升百分之三至港幣134.00億元 • OTT業務EBITDA增長超過三倍，飆升百分之二百三十三至港幣5.92億元 • 免費電視及相關業務EBITDA增長接近雙 ...

Revenue Performance - Revenue increased by 1% to HKD 36.347 billion[4] - Total revenue for Hong Kong Telecommunications increased by 1% year-over-year to HKD 34,330 million in 2023[10] - Revenue from telecommunications services rose by 1% to HKD 24,170 million, with local telecommunications services growing by 2% to HKD 16,873 million[12] - OTT business revenue surged by 22% to HKD 2.452 billion, driven by a 32% increase in subscription revenue[5] - Free TV and related business revenue grew by 5% to HKD 0.952 billion[4] - Revenue from other businesses reached HKD 767 million, with an EBITDA cost of HKD 697 million for the year ending December 31, 2023[27] - The external revenue from the Hong Kong segment decreased slightly to HKD 28,477 million in 2023 from HKD 28,613 million in 2022, a decline of approximately 0.48%[86] - The revenue from mainland China and other regions increased to HKD 1,590 million in 2023, up from HKD 1,237 million in 2022, reflecting a growth of about 28.54%[86] Profitability and Loss - The company reported a loss attributable to equity holders of HKD 0.471 billion from continuing operations[7] - The company reported a net loss attributable to equity holders of HKD 471 million, a 30% improvement compared to the previous year[10] - The company reported a net loss attributable to equity holders of the company from continuing operations of HKD (471) million in 2023 compared to a loss of HKD (676) million in 2022[60] - The company’s financing costs increased significantly to HKD (2,661) million in 2023 from HKD (1,826) million in 2022, an increase of 46%[60] - The total comprehensive income for the year was HKD 1,472 million, down 36.3% from HKD 2,310 million in 2022[61] EBITDA and Margins - EBITDA rose by 4% to HKD 12.831 billion, with a margin increase to 35%[7] - EBITDA for OTT business increased over threefold to HKD 0.592 billion[4] - EBITDA for Hong Kong Telecommunications reached HKD 13,400 million, reflecting a 3% increase compared to the previous year[12] - Overall EBITDA for the year ending December 31, 2023, rose by 4% to HKD 128.31 billion, with a margin of 35%[33] - The overall EBITDA margin improved to 39% in the second half of 2023, up from 37% in the same period last year[12] Dividends - Final dividend declared at HKD 0.2848 per share, totaling HKD 0.3825 for the year[7] - The company proposed a final dividend of HKD 0.4444 per share, bringing the total annual dividend to HKD 0.7649 per share[17] - The board proposed a final dividend of HKD 0.2848 per ordinary share for the year ended December 31, 2023, consistent with the previous year's dividend[51] Operational Highlights - The number of paid users for Viu increased by 10% to 13.4 million[5] - The customer base for 5G services reached nearly 1.4 million, accounting for 41% of postpaid customers by the end of December 2023[13] - Local data revenue recorded a significant growth of 10%, with total contract value from enterprise customers exceeding HKD 4 billion by year-end[15] - ViuTV's digital platform registered over 3 million members, reflecting a 9% year-on-year growth[24] Costs and Expenses - The total cost of sales increased by 1% to HKD 18,116 million, reflecting ongoing operational expenses[10] - Operating costs decreased by 6% to HKD 5.4 billion, primarily due to a 12% reduction in Hong Kong Telecommunications' operating costs[30] - The total operating cost to revenue ratio improved from 16% to 15%[30] Debt and Financing - Total debt as of December 31, 2023, was HKD 523.29 billion, up from HKD 498.99 billion in the previous year[41] - The group has unutilized bank credit facilities totaling HKD 20.488 billion as of December 31, 2023[69] - The group anticipates that it can meet its debt obligations due within the next 12 months based on operational cash inflows and additional debt financing capabilities[69] Employee and Corporate Governance - The group employed over 15,000 employees across 25 countries and cities as of December 31, 2023, with approximately 65% based in Hong Kong[50] - The group has established performance bonus and incentive plans to encourage and reward employees based on overall group performance, EBITDA, and free cash flow targets[50] Financial Position - Non-current assets increased to HKD 80,352 million in 2023 from HKD 78,018 million in 2022, reflecting a growth of 2.98%[62] - Current liabilities decreased to HKD 20,768 million in 2023 from HKD 24,374 million in 2022, a reduction of 14.5%[63] - Total equity attributable to the company's equity holders decreased to HKD 2,481 million in 2023 from HKD 5,554 million in 2022, a decline of 55.4%[65] - The company’s cash and cash equivalents decreased to HKD 2,627 million in 2023 from HKD 3,009 million in 2022, a decrease of 12.7%[63] Strategic Initiatives - The company aims to explore various opportunities for sustainable growth amid changing economic conditions[8] - The company aims to continue providing quality content and expand distribution to other platforms and markets[25] - The group continues to invest in enhancing digital capabilities to support existing business and drive growth in new areas, while cautiously investing in the expansion of the 5G network[43]

Revenue Growth - Viu's OTT business revenue increased by 24% year-on-year to HKD 971 million in the first half of 2023[10] - Viu's revenue recorded a significant year-on-year growth of 30%, driven by a dual business model of AVOD and SVOD[10] - The interim report for 2023 indicates that the company achieved a revenue of HKD 7.5 billion, representing a year-on-year increase of 5%[26] - Revenue for the first half of 2023 was reported at HKD 12.5 billion, representing a 10% increase compared to the same period last year[35] - Total revenue for the six months ending June 30, 2023, was HKD 16,850 million, up from HKD 16,738 million in 2022, representing a growth of 0.67%[100] - The company has projected a revenue growth of 6% for the next fiscal year, aiming for HKD 8 billion in total revenue[26] - The company aims to improve operational efficiency, targeting a 5% reduction in costs through digital transformation initiatives[35] User Engagement - Monthly active users of Viu grew by 8% year-on-year to 65.5 million, while paid users increased by 21% to 11 million[10] - ViuTV's registered members increased by 14% year-on-year to over 3 million, enhancing digital platform engagement[12] - The average revenue per user (ARPU) is expected to grow as customers upgrade to higher bandwidth services, with FTTH network coverage reaching 98%[13] - Customer satisfaction ratings have improved by 12%, reflecting enhanced service quality and support[35] Strategic Partnerships and Investments - The strategic partnership with CANAL+ involves a total investment of USD 300 million, aimed at expanding Viu's global market presence[11] - The company is preparing for the potential launch of the "Digital Hong Kong Dollar" as part of a cross-industry alliance[7] - The company is considering strategic acquisitions to bolster its service portfolio, with a budget of up to HKD 2 billion allocated for potential deals[26] - The company is investing HKD 1 billion in technology research and development to enhance service offerings and improve customer experience[26] Telecommunications and Infrastructure - The 5G customer base grew to nearly 1.2 million by June 2023, supporting the demand for mobile data roaming services[5] - The launch of 5000M FTTH service addresses the increasing bandwidth needs of users[5] - Hong Kong Telecom completed the construction of a fiber optic cable connecting to Lamma Island, supporting online work and education[6] - The company has expanded its fiber network to remote areas, including Lamma Island, preparing to offer up to 10G home broadband services[15] Financial Performance - The company reported a loss attributable to equity holders of HKD 486 million for the period[55] - The company reported a significant increase in user data, with a 15% year-over-year growth in active subscribers, reaching 3.5 million users[35] - The company reported a net profit margin of 12%, maintaining a stable performance amidst market fluctuations[26] - The company reported a net loss of HKD 88 million for the six months ended June 30, 2023, compared to a profit of HKD 931 million for the same period in 2022[107] Cost Management - Operating costs, excluding depreciation and amortization, increased by 5% to HKD 2,927 million[59] - The total cost of sales for the six months ended June 30, 2023, was HKD 5,739 million, compared to HKD 5,360 million in 2022, an increase of 7.09%[125] - The financing costs increased significantly to HKD 1,153 million for the six months ended June 30, 2023, compared to HKD 721 million in 2022, an increase of 60.06%[123] Dividends and Shareholder Returns - The board has approved a dividend payout of HKD 0.50 per share, reflecting a commitment to returning value to shareholders[26] - The interim dividend declared for the six months ending June 30, 2023, is HKD 0.0977 per share, an increase from HKD 0.0956 in 2022[98] - The company declared dividends amounting to HKD 2,139 million for the previous year, reflecting a significant cash outflow[107] Market Expansion - The company is expanding its market presence in Southeast Asia, targeting a 20% market share in the region by 2025[35] - Market expansion plans include entering two new regions, targeting a 10% increase in market share by the end of the next fiscal year[26] Employee Engagement and Management - The company has established performance bonus and incentive plans to encourage and reward employees based on overall group performance and individual assessments[97] - The company has adopted two stock incentive plans aimed at rewarding qualified participants for their contributions and attracting suitable talent[178] Financial Instruments and Valuation - The fair value of non-listed securities increased from HKD 124 million to HKD 147 million, while the fair value of non-listed financial assets rose from HKD 1,670 million to HKD 2,785 million for the same period[158][159] - The company’s financial instruments are measured at amortized cost, with no significant differences from their fair values as of the reporting dates[161]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲 明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 PCCW Limited （於香港註冊成立的有限公司） （股份代號：0008） 截至 2023 年 6 月 30 日止六個月的 中期業績公告 電訊盈科有限公司（「電訊盈科」或「本公司」）董事（「董事」）謹此宣佈本公司及其附屬公司 （統稱「本集團」）截至 2023 年 6 月 30 日止六個月的未經審核綜合業績。本簡明綜合中期財務資 料雖未經審核，惟已經本公司的審核委員會審閲，並按照香港會計師公會頒佈的《香港審閲委聘準 則》2410 由實體獨立核數師執行中期財務資料審閲工作的準則由本公司的獨立核數師羅兵咸永道會 計師事務所審閲。 • 收益增加百分之一至港幣168.50億元 • 香港電訊總收益上升百分之二至港幣164億元；未計流動通訊產品銷售，則上升百分之三至 港幣152.47億元 • OTT業務收益躍升百分之二十四至港幣9.71億元 • 免費電視及相關業務收益上升百分之一至港幣3.90億元 ...

Financial Performance - Revenue increased by 15% year-over-year, driven by strong sales in the Asia-Pacific region [1]. - Net profit margin improved to 12%, up from 10% in the previous quarter [2]. - Operating expenses rose by 8%, primarily due to increased marketing and R&D investments [3]. Market Expansion - The company successfully entered two new markets in Europe, contributing to a 20% increase in international sales [4]. - A new distribution center was opened in South America to support regional growth [5]. - Strategic partnerships were formed with local retailers in Southeast Asia to enhance market penetration [6]. Product Development - Launched three new products in the tech segment, which accounted for 25% of total revenue [7]. - R&D spending increased by 10% to accelerate innovation and product differentiation [8]. - Customer feedback on the new product line has been overwhelmingly positive, with a 90% satisfaction rate [9]. Operational Efficiency - Implemented a new supply chain management system, reducing delivery times by 15% [10]. - Automation initiatives in manufacturing led to a 5% reduction in production costs [11]. - Employee training programs were expanded, resulting in a 10% increase in productivity [12]. Sustainability Initiatives - Achieved a 30% reduction in carbon emissions through the adoption of renewable energy sources [13]. - Launched a recycling program that has successfully diverted 50% of waste from landfills [14]. - Committed to achieving net-zero emissions by 2030, with interim targets set for 2025 [15]. Corporate Governance - Appointed two new independent directors to the board, enhancing oversight and strategic guidance [16]. - Strengthened compliance measures to ensure adherence to global regulatory standards [17]. - Conducted an annual audit with no material findings, reflecting strong internal controls [18]. Customer Engagement - Introduced a loyalty program that has increased customer retention by 15% [19]. - Enhanced digital platforms to improve user experience, resulting in a 20% increase in online sales [20]. - Customer service response times improved by 25% due to the implementation of AI-driven support tools [21].