中国联通(00762) - 2024 - 中期业绩

Financial Performance - The company's operating revenue for the first half of 2024 reached RMB 197.3 billion, a year-on-year increase of 2.9%[3] - EBITDA for the same period was RMB 55 billion, reflecting a 2.7% year-on-year growth, while total profit amounted to RMB 16.9 billion, up 10.4% year-on-year[3] - The profit attributable to equity holders was RMB 13.8 billion, marking an 11.3% increase year-on-year, achieving double-digit growth for eight consecutive years[3] - The interim dividend declared was RMB 0.2481 per share (pre-tax), representing a 22.2% increase year-on-year, significantly higher than the growth rate of basic earnings per share[3] - Total comprehensive income for the period was RMB 14,062 million, compared to RMB 13,002 million in the same period of 2023, marking a growth of 8.1%[17] - The company's total revenue for the first half of 2024 was RMB 197.34 billion, representing a year-on-year growth of 2.9%[37] - Service revenue accounted for RMB 175.66 billion, with a year-on-year increase of 2.7%[38] - Net profit for the period was RMB 13,836 million, compared to RMB 12,500 million in the previous year, reflecting an increase of approximately 10.7%[17] - Basic and diluted earnings per share for the period were both RMB 0.45, up from RMB 0.40 in the same period last year, indicating a 12.5% increase[16] Revenue Breakdown - The service revenue reached RMB 175.7 billion, an increase of 2.7% year-on-year, with the internet communication business generating RMB 125.1 billion, up 2.1% year-on-year[5] - The cloud computing revenue reached RMB 31.7 billion, a significant year-on-year increase of 24.3%, showcasing the company's leading position in the industry[6] - International business revenue was RMB 6 billion, reflecting an 8.4% year-on-year growth, driven by increased roaming and overseas mobile service revenues[7] - Total service revenue for the six months ended June 30, 2024, was RMB 175,656 million, an increase from RMB 171,045 million for the same period in 2023, representing a growth of approximately 3.8%[28] - Sales of communication products for the six months ended June 30, 2024, amounted to RMB 21,685 million, compared to RMB 20,788 million for the same period in 2023, reflecting an increase of about 4.3%[28] Investment and Expenditures - Capital expenditures were effectively controlled at RMB 23.9 billion, a decrease of 13.4% compared to the previous year[3] - The company completed fixed asset investments of RMB 23.9 billion in the first half of the year, with a stable investment scale and continuous improvement in investment efficiency[10] - The company aims for stable revenue growth and double-digit profit growth for the full year, with fixed asset investments expected to remain within RMB 65 billion[13] Assets and Liabilities - Total assets as of June 30, 2024, amounted to RMB 667,740 million, an increase from RMB 661,051 million at the end of 2023[18] - Current liabilities totaled RMB 263,890 million, slightly up from RMB 263,652 million at the end of 2023, indicating a stable liability management[20] - The company's total liabilities to total assets ratio was 45.5% as of June 30, 2024, indicating a stable financial position[37] - The company's non-current assets decreased to RMB 493,899 million from RMB 502,950 million at the end of 2023, indicating a reduction of 1.9%[18] - The company’s total equity increased to RMB 364,071 million from RMB 353,898 million at the end of 2023, reflecting a growth of 2.4%[19] Operational Efficiency - The operating costs for the first half of 2024 were RMB 184.69 billion, reflecting a year-on-year increase of 2.2%[41] - The company’s network, operation, and support costs rose to RMB 30.45 billion, a 4.4% increase year-on-year[44] - The company’s employee compensation and benefits expenses decreased to RMB 28.71 billion, down from RMB 32.25 billion in the previous year[41] - In the first half of 2024, employee compensation and benefits expenses amounted to RMB 28.71 billion, a decrease of 11.0% year-on-year, representing 14.5% of operating revenue, down from 16.8% in the same period last year[45] - Sales expenses increased by 2.4% year-on-year to RMB 17.73 billion, maintaining a stable proportion of 9.0% of operating revenue compared to the same period last year[47] - Management expenses decreased by 3.4% year-on-year to RMB 2.29 billion, remaining stable at 1.2% of operating revenue[48] - Other operating expenses rose by 16.7% year-on-year to RMB 36.52 billion, increasing its share of operating revenue from 16.3% to 18.5%[48] Research and Development - R&D investment increased by 13% year-on-year in the first half of the year, focusing on original and leading technological breakthroughs[8] - The company launched an artificial intelligence shared dataset and a "trusted data resource space" platform to enhance data governance and security[9] - The blockchain TPS exceeded 100,000, ranking among the industry leaders[11] Environmental Commitment - The company reduced greenhouse gas emissions by approximately 6.78 million tons in the first half of the year, with a 6% decrease in energy consumption per unit of telecom business[12] Recognition and Awards - The company received multiple accolades, including ranking 279th in the 2024 Fortune Global 500 and being recognized as "Asia's Most Admired Telecom Company" for nine consecutive years[12] Corporate Governance - The board of directors includes four executive directors and four independent non-executive directors[64] - The group continues to operate under the assumption of going concern, with sufficient funds to meet operational commitments and anticipated capital expenditures[24]