On April 23, China Telecom released its first quarter report for 2024. So far, the first quarter financial reports of the three major operators have been announced. The reporter combed and found that in the first quarter, the revenue and net profit of the three major operators all increased, with China Mobile's operating income being the highest and China Unicom's net profit increasing the most.
China Telecom
revenue was 134.5 billion yuan, a year-on-year increase of 3.7%
According to China Telecom's first-quarter report, in the first quarter of 2024, China Telecom's operating income was RMB134.495 billion, an increase of 3.7% over the same period last year, and the net profit attributable to shareholders of listed companies was RMB8.597 billion, an increase of 7.7% over the same period last year.
In detail, in terms of mobile communication services, China Telecom has continuously improved the quality of 5G networks, accelerated the intelligent upgrade of 5G applications, and continued to expand special applications such as 5G mobile phone direct connection to satellites and 5G quantum cryptography based on the digital needs of users in different scenarios, so as to promote the continuous improvement of the scale and value of mobile users. In the first quarter of 2024, mobile communication service revenue reached RMB52.226 billion, up 3.2% year-on-year, with a net increase of 3.88 million mobile subscribers to 412 million, a net increase of 10.06 million 5G package subscribers to 329 million, with a penetration rate of 79.9%, and an ARPU1 of RMB45.8, an increase of 0.9% over last year.
In terms of fixed network and smart home services, China Telecom adheres to the integrated development of "5G + Gigabit broadband + Gigabit WiFi", accelerates the deep integration of products such as basic connectivity and smart home applications with new elements such as cloud, AI, and security, and vigorously promotes the integration and mutual promotion of smart communities and digital village platforms, and continuously fills high-quality digital products and scenario-based services. In the first quarter of 2024, China Telecom's fixed network and smart home service revenue reached RMB31.824 billion, a year-on-year increase of 2.2%, the number of wired broadband users reached 192 million, and the revenue of smart homes increased by 10.4% year-on-year, driving the broadband comprehensive ARPU2 to RMB48.6, an increase of 2.1% over last year, and the value contribution of smart home continued to increase.
In terms of industrial digitalization, China Telecom seized the opportunity of digital transformation of the economy and society, continued to deepen the cultivation of key industries, continuously expanded ecological cooperation, met the digital needs of thousands of households and industries with "network + cloud + AI + application", promoted the rapid development of strategic emerging businesses, and promoted the deep integration of digital technology and the real economy. In the first quarter of 2024, the digital business revenue of China's telecom industry reached RMB38.679 billion, a year-on-year increase of 10.6%.
In addition, the report pointed out that in the first quarter of 2024, China Telecom's operating costs were RMB94.946 billion, an increase of 3.8% over the same period last year, mainly due to China Telecom's seizing the strategic opportunity of the rapid development of the digital economy, increasing investment in key areas such as technological innovation and industrial digitalization, strengthening digital operations to reduce costs and increase efficiency, and continuously improving resource efficiency, while selling expenses were RMB14.162 billion, a decrease of 0.1% over the same period last year. Administrative expenses decreased by 3.0% year-on-year to RMB9,912 million, R&D expenses decreased by 13.8% year-on-year to RMB1,571 million, mainly due to China Telecom's focus on strategic emerging industries and future industries, continuous efforts to increase scientific and technological innovation, strengthen key core technology research and enhance core capabilities, and financial expenses of RMB144 million, a decrease of 51.0% year-on-year, mainly due to the decrease in interest expense on lease liabilities.
Mobile
Revenue of 263.7 billion yuan, a year-on-year increase of 5.2% On the evening of April 22, China Mobile disclosed that the first quarter report of 2024 showed that the company achieved operating income of 263.7 billion yuan during the reporting period, a year-on-year increase of 5.2%, a net profit attributable to shareholders of the parent company of 29.6 billion yuan, a year-on-year increase of 5.5%, and a net profit margin attributable to shareholders of the parent company of 11.2%.
Specifically, during the reporting period, China Mobile's main business income was 219.3 billion yuan, a year-on-year increase of 4.5%, and other business income was 44.4 billion yuan, a year-on-year increase of 8.6%. According to the report, as of the end of the reporting period, China Mobile's total number of mobile customers was 996 million, including 799 million 5G package customers and 488 million 5G network customers, and during the reporting period, the company's mobile Internet traffic increased by 3.3% year-on-year, with mobile Internet access dou (monthly Internet traffic per household) reaching 14.9GB, and mobile ARPU (average revenue per user) of 47.9 yuan. In terms of the household market, as of the end of the reporting period, the total number of China Mobile's wired broadband customers reached 305 million, with a net increase of 6.83 million quarters, of which the number of home broadband customers reached 269 million, a net increase of 5.28 million in the quarter, and the comprehensive ARPU of household customers was 39.9 yuan, a year-on-year increase of 1.8% during the reporting period. In terms of the government and enterprise market, China Mobile has promoted the scale expansion of "network + cloud + DICT" in an integrated manner, increased the expansion of the business and customer market, promoted the standardization, productization and platformization of government and enterprise solutions, and deeply cultivated digital and intelligent services in the industry. During the reporting period, the company's DICT business revenue maintained good growth. Talking about the company's development status, China Mobile said that in the first quarter of 2024, the company adhered to the principle of seeking progress while maintaining stability, maintaining integrity and innovation, anchoring the development positioning of "a world-class information service technology innovation company", deepening the implementation of the "1225" strategy, comprehensively promoting digital and intelligent transformation and high-quality development, accelerating the "BASIC6" science and technology innovation plan, and showing a good trend in business development. China Unicom
revenue was 99.5 billion yuan, and net profit increased by 8.0% year-on-year
On the evening of April 19, China Unicom disclosed its first quarter report for 2024. According to the announcement, in the first quarter of 2024, China Unicom's revenue will be about 99.496 billion yuan, an increase of 2.3% year-on-year, and the net profit attributable to shareholders of listed companies will be about 2.447 billion yuan, a year-on-year increase of 8.0%.
Specifically, the revenue of the networked information and communication business was RMB62.304 billion, and the revenue of the computing network and digital intelligence business was RMB23.215 billion, accounting for 26.1% of the service revenue, and the revenue structure was continuously optimized. Profit before tax reached RMB7.239 billion, up 10.6% year-on-year, maintaining a double-digit growth rate. Profit attributable to equity holders of the Company reached RMB5.613 billion, representing a year-on-year increase of 8.9%.
In terms of user scale, in the first quarter, the penetration rate of China Unicom's 5G package continued to increase. According to the data, as of the end of the first quarter, China Unicom's mobile user scale reached 337 million, including 269 million 5G package users, and the penetration rate of 5G packages increased to 80%. The number of Internet of Things connections reached 529 million, a net increase of 34.6 million, and the number of fixed-line broadband users reached 115 million, of which 2.11 million gigabit users increased to 2.11 million, and the gigabit broadband penetration rate increased to 23%, significantly improving the user structure.
Emerging services are becoming an important source of business growth for China Unicom. According to the data, in the first quarter, China Unicom's cloud revenue reached 16.7 billion yuan, a year-on-year increase of 30.3%, the data center revenue reached 6.6 billion yuan, an increase of 4.1% year-on-year, the cumulative number of customers served by the 5G industry virtual private network reached 10,000, and the network information security revenue achieved a rapid growth of 70%.
In the first quarter, China Unicom's 5G mid-frequency base stations reached 1.27 million stations, and the network coverage level continued to improve. In emerging industries such as digital intelligence applications, we have increased scientific and technological innovation and core technology research, continued to strengthen the engine of scientific and technological innovation, focused on promoting industrial innovation with scientific and technological innovation, and accelerated the development of new quality productivity, with 362 authorized patents in the first quarter, a steady increase year-on-year.
END
Editor-in-charge/Layout: Gai Beibei
Reviewer: Wang Tao, Mei Yaxin
Producer: Liu Qicheng
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