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【Introduction】The performance of the three major operators all increased in the first half of the year

China Fund News reporter Nan Shen

Following China Mobile and China Unicom, China Telecom’s semi-annual report was also released on the evening of August 20.

In the first half of 2024, China Telecom's operating revenue was 266 billion yuan, a year-on-year increase of 2.8%; the net profit attributable to shareholders of listed companies was 21.8 billion yuan, a year-on-year increase of 8.2%, and the net profit after deducting non-recurring gains and losses was 21.7 billion yuan, a year-on-year increase of 6%. In the first half of the year, China Telecom's number of users increased by 9.08 million, and the user scale reached 417 million.

At this point, the interim reports of the three major operators this year have all been released. Overall, the growth rate of operating income of each company is around 3%. The growth rate of net profit is 5.29% for China Mobile, 10.93% for China Unicom, and China Telecom is in the middle with 8.23%.

China Telecom's mobile subscribers reach 417 million

The number of broadband users is 193 million

China Telecom's semi-annual report shows that in the first half of 2024, the company's operating income was 265.97 billion yuan, an increase of 2.8% over the same period last year. It said that the main reason is that the company continues to implement the "cloud transformation and digital transformation" strategy, continues to promote the transformation and upgrading of basic businesses, continues to accelerate the scale development of strategic emerging businesses, and accelerates the cultivation and development of new quality productivity.

In the first half of 2024, China Telecom's mobile communication service revenue reached 105.2 billion yuan, a year-on-year increase of 3.6%. Among them, mobile value-added and application revenue reached 18.1 billion yuan, a year-on-year increase of 17.1%. The number of mobile users increased by 9.08 million, the user scale reached 417 million, and the mobile user ARPU reached 46.3 yuan.

China Telecom's fixed-line and smart home service revenue was 64 billion yuan, a year-on-year increase of 3.2%. Among them, the revenue from smart home business reached 10.7 billion yuan, a year-on-year increase of 14.4%. The number of broadband users increased by 3.19 million to 193 million, and the comprehensive broadband ARPU reached 48.3 yuan.

China Telecom's industry digitalization revenue reached 73.7 billion yuan, a year-on-year increase of 7.2%, accounting for 30% of service revenue. Tianyi Cloud's revenue reached 55.2 billion yuan, a year-on-year increase of 20.4%.

China Telecom's net profit and non-net profit also recorded growth, and the growth rate was slightly faster than the growth rate of operating income. Against this background, the company's board of directors decided to continue to distribute interim dividends in 2024, and the profit distributed in cash exceeded 70% of the profit attributable to shareholders in the first half of the year, that is, 0.1671 yuan per share (including tax), an increase of 16.7% year-on-year. Together with the dividend in June this year, China Telecom's dividend rate can reach 4.26% based on the current share price (6.04 yuan) after two dividends.

China Telecom said that starting from 2024, the company's cash distribution of profits will gradually increase to more than 75% of the profits attributable to shareholders in the three years to continue to create greater value for shareholders. As of the end of the first half of this year, the company had 271,100 shareholders. As of the close of August 20, the company's A-share market value was 552.7 billion yuan.

The three major operators all saw growth in performance in the first half of the year

Previously, China Mobile and China Unicom released their 2024 semi-annual reports on August 9 and August 16, respectively.

In the first half of 2024, China Mobile's operating income was 546.7 billion yuan, a year-on-year increase of 3%; the net profit attributable to the parent company's shareholders was 80.2 billion yuan, a year-on-year increase of 5.3%. The interim report shows that China Mobile's customers have exceeded the 1 billion mark. Among mobile customers, 5G network customers reached 514 million, a net increase of 49 million, and the penetration rate reached 51.4%. Personal mobile cloud disk revenue reached 4.8 billion yuan, a year-on-year increase of 47.7%.

China Unicom achieved operating revenue of 197.3 billion yuan in the first half of the year, a year-on-year increase of 2.9%; net profit of 6.039 billion yuan, a year-on-year increase of 10.9%, achieving double-digit growth for eight consecutive years. China Unicom's mobile users increased by more than 6 million in the first half of the year, with a total of 340 million users; the number of IoT connections exceeded 560 million; broadband users reached 117 million, of which converged users exceeded 80 million; in terms of user structure, the 5G penetration rate of mobile users exceeded 80%, and the gigabit penetration rate of broadband users exceeded 25%.

According to the report "Economic Operation of the Communications Industry in the First Half of 2024" released by the Ministry of Industry and Information Technology, in the first half of 2024, the communications industry operated basically smoothly, with total telecommunications business revenue reaching 894.1 billion yuan, a year-on-year increase of 3%.

As of the end of June 2024, the total number of mobile phone users of the three basic telecommunications companies and China Radio and Television reached 1.777 billion, of which 5G mobile phone users reached 927 million, a net increase of 105 million from the end of last year; the total number of mobile phone base stations in my country reached 11.88 million, and the total number of 5G base stations reached 3.917 million, a net increase of 540,000 from the end of last year.

Editor: Xiaomo

Audit: Wooden Fish

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