Published: 21:20, August 9, 2023 | Updated: 21:32, August 9, 2023
China Unicom records double-digit growth for 7th year
By Zhang Tianyuan

The management team of China Unicom poses for a photo at a news conference on Aug 9, 2023. (PHOTO PROVIDED TO CHINA DAILY)

China Unicom reported a year-on-year net-profit increase of 13.1 percent in the first half of the year, driven by a surge in industry internet-revenue income.

The telecoms giant’s net profit rose by double digits for the seventh consecutive year, to 12.39 billion yuan ($1.72 billion) for the first six months of this year, according to its interim report released on Wednesday.

In the basic mobile business, the number of mobile subscribers exceeded 328 million, with a net addition of 5.34 million in the first half of the year, marking a new four-year high for the same period

The company boosted its interim dividend payout to 0.203 yuan per share, which represents a 23 percent increase from the previous year.

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Operating revenue grew 8.8 percent year-on-year to 191.83 billion yuan in the same period.

Industry internet revenue was 42.98 billion yuan, accounting for more than a quarter of service revenue for the first time and becoming a key driver of the company’s revenue growth, the report said.

In the basic mobile business, the number of mobile subscribers exceeded 328 million, with a net addition of 5.34 million in the first half of the year, marking a new four-year high for the same period.

Its 5G package subscriber penetration surpassed 70 percent.

Chen Zhongyue, executive director and president of China United Network Communications Ltd, said: “In anticipation of the full year, our primary objective is to maintain stability while making steady progress. … Our overarching goals include achieving strong growth in our primary business, realizing double-digit net profit growth, and continuously improving the return on net assets.”

Its Hong Kong traded shares remained flat on Wednesday, with its closing price identical to Tuesday’s closing figure of HK$5.49 (70 US cents).

China Unicom has contributed to the ongoing rescue efforts in response to the flooding emergency in Beijing and neighboring Hebei province by providing drone aircraft systems.

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“The system, comprising drones, airborne base stations, and satellite transmission links, offers stable and reliable network signal coverage within a 120-square-kilometer radius of the disaster-stricken region. It facilitates communication for up to 1,000 strained individuals and command personnel, enabling them to make phone calls and send text messages,” Chen said.

He added that the company has been involved in the research and development of network-connected drones since 2017.

“We are exploring the practical applications of drones in various fields, including geographical mapping, power-line inspections, pipeline inspections, and logistics transportation,” he said.


Contact the writer at tianyuanzhang@chinadailyhk.com