CHINA TELECOM(00728)2025-04-28 08:43Financial Performance - In 2024, the company's operating revenue reached RMB 529.4 billion, a year-on-year increase of 3.1%, with service revenue at RMB 482 billion, up 3.7%[22]. - EBITDA for 2024 was RMB 140.8 billion, reflecting a 2.9% year-on-year growth, while net profit increased by 8.4% to RMB 33 billion, with basic earnings per share at RMB 0.36[22]. - The total telecom business revenue for the year reached RMB 1.74 trillion, representing a year-on-year growth of 3.2%[57]. - The company's net profit attributable to shareholders was RMB 33.01 billion, reflecting an 8.4% increase year-on-year[84]. - Operating expenses totaled RMB 489.61 billion, an increase of 2.8% from 2023, constituting 92.5% of operating revenue[92]. Dividend Distribution - The company plans to distribute cash dividends amounting to approximately RMB 84.83 billion, with a proposed final dividend of RMB 0.0927 per share for the year 2024, which represents 72% of the net profit attributable to shareholders[5]. - The total dividend for 2024, including the interim dividend of RMB 0.1671 per share, amounts to RMB 0.2598 per share, totaling approximately RMB 23.774 billion, which represents 72% of the company's profit attributable to shareholders for the year[129]. - The proposed dividend distribution plan is pending approval at the 2024 annual general meeting[6]. - The final dividend is expected to be paid on or before July 18, 2025, following approval at the 2024 Annual General Meeting[130]. Strategic Focus and Development - The company is focused on expanding its digital information services, including cloud computing, big data, and artificial intelligence[2]. - The company is committed to transforming into a service-oriented, technology-driven, and secure enterprise, emphasizing the upgrade of digital infrastructure and high-quality development[21]. - The company aims to deepen international cooperation and innovation platform construction to foster a mutually beneficial ecosystem[78]. - The company is committed to building a service-oriented, technology-driven, and secure enterprise, focusing on cloud transformation and digital infrastructure development[118]. Risk Management - The company has outlined various risks in its report, including economic, policy environment adaptation risks, and technology innovation risks[8]. - Future strategic developments and operational plans are subject to known and unknown risks, which may lead to significant differences from the forward-looking statements made[7]. - The company acknowledges risks from economic and policy environments, emphasizing the need for adaptation and innovation to maintain high-quality development[121]. - The company is aware of uncertainties in international business expansion due to changing policies and geopolitical factors, and it plans to strengthen compliance and risk management[125]. Technological Advancements - The company is focusing on AI-driven innovations to enhance product and service offerings, aiming to meet new digital consumption demands[27]. - The company has accelerated the integration of AI capabilities into its customer service processes, with the proportion of intelligent customer service increasing by 13.5 percentage points by the end of 2023[29]. - The company has developed a fully integrated quantum computing platform, achieving significant breakthroughs in distributed reasoning and lossless transmission technologies[72]. - The company has established the largest quantum computing cluster in China and is actively advancing quantum metropolitan area networks in 16 key cities, with the Hefei quantum metropolitan area network recognized as a national digital China typical case[38]. Market Presence and Customer Engagement - The company is focused on enhancing its market presence through the integration of digital technologies and the expansion of its service offerings in the smart home sector[27]. - The number of terminal users on the Tianyi IoT platform has reached 630 million, supporting large-scale and reliable connections[47]. - The company has launched over 50 industry-specific large model applications across various sectors including government, emergency, and education[70]. - The company has launched over 45,000 industry application projects in sectors such as electricity, chemicals, and mining, enhancing its "5G + AI" integrated product system[74]. Corporate Governance - The company has maintained a dual structure of governance with a board of directors and a supervisory board, ensuring independent oversight of management activities[177]. - The company has been recognized for its corporate governance efforts, receiving multiple awards including the "Most Respected Company in Asia" for 14 consecutive years from Institutional Investor[180]. - The company emphasizes risk management and internal control systems, which include clear organizational structures and comprehensive risk assessments[176]. - The company has a dedicated investor relations department to facilitate communication with shareholders and investors, enhancing transparency[179]. Human Resources and Leadership - The company is currently led by a team with extensive experience in the telecommunications industry, including executives with backgrounds in engineering and management[189][191][194][196][199]. - The executive team includes professionals with significant experience in both financial management and telecommunications operations, indicating a strong leadership foundation[189][191][194][196][199]. - The company is committed to leveraging its resources and expertise to drive growth and innovation in the telecommunications sector[189][191][194][196][199]. - The management team has a proven track record in leading major telecommunications projects and initiatives, which is expected to contribute to future performance[189][191][194][196][199].