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Source: Huanqiu.com

[Global Network Financial Comprehensive Report] On the evening of August 20, China Telecom officially released its 2024 semi-annual report. So far, the mid-year report cards of the three major telecom operators (China Mobile, China Unicom, and China Telecom) have all been released. The three mid-year reports show that despite the complex and changing market environment, the three major operators have achieved steady growth in operating income and net profit.

China Telecom achieved operating revenue of 265.97 billion yuan in the first half of 2024, a year-on-year increase of 2.8%, and net profit attributable to shareholders of listed companies was 21.8 billion yuan, a year-on-year increase of 8.23%. This achievement is due to the in-depth implementation of the company's "cloud transformation and digital transformation" strategy, as well as the accelerated promotion of the transformation and upgrading of basic businesses and the scale development of strategic emerging businesses. In the first half of the year, China Telecom's number of users increased by 9.08 million, and the total number of users reached 4.17.

(Image source: Announcement of listed companies)

As for China Mobile, in the first half of 2024, the company achieved operating income of 546.7 billion yuan, a year-on-year increase of 3%, and net profit of 80.2 billion yuan, a year-on-year increase of 5.29%. It is worth noting that the total number of China Mobile's customers has exceeded the one billion mark, of which 5G network customers have reached 514 million, a net increase of 49 million, and the 5G penetration rate has reached 51.4%. In addition, China Mobile's personal mobile cloud disk revenue has achieved significant growth, reaching 4.8 billion yuan, a year-on-year increase of 47.7%, showing the company's strong momentum in the field of digital transformation.

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%, and net profit of 6.039 billion yuan, a year-on-year increase of 10.9%, achieving double-digit growth for eight consecutive years. In terms of the number of users, China Unicom's mobile users increased by more than 6 million in the first half of the year, and the total number of users reached 340 million; the number of IoT connections exceeded 560 million, and the number of broadband users reached 117 million, of which the number of converged users exceeded 80 million. In the fields of 5G and broadband, China Unicom's penetration rates also reached 80% and more than 25%, respectively.

Overall, the performance of the three major operators has shown a steady growth trend, with the growth rate of operating income remaining at around 3% and the growth rate of net profit having its own highlights.

In terms of industry, 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, my country's communications industry operated basically smoothly in the first half of the year, with a total telecommunications business revenue of 894.1 billion yuan, a year-on-year increase of 3%. As of the end of June, the total number of mobile phone users nationwide reached 1.777 billion, of which 5G mobile phone users reached 927 million, a net increase of 105 million over the end of last year; the total number of mobile phone base stations reached 11.88 million, and the total number of 5G base stations reached 3.917 million, a net increase of 540,000 over the end of last year.