China Telecom and China Unicom Announce Their 2023 Performance Report

China Telecom

During the reporting period, China Telecom achieved a total operating revenue of 507.843 billion yuan, a year-on-year increase of 6.9%; The net profit attributable to shareholders of the listed company was 30.446 billion yuan, a year-on-year increase of 10.3%; The net profit attributable to shareholders of the listed company after deducting non recurring gains and losses was 29.553 billion yuan, a year-on-year increase of 8.7%.

China Telecom stated that in 2023, the company will seize the opportunities of digital economy development, continue to accelerate the transformation of basic businesses, strengthen the supply of digital products, and promote stable growth of basic businesses. Comprehensively revitalizing 5G applications, continuously improving the ultra gigabit optical broadband access capability, strengthening the linkage and integrated development of digital platform scenarios, launching more intelligent cloud networks, richer cloud applications, and more on-demand cloud services, integrating into urban governance, and serving thousands of households.

At the same time, China Telecom actively grasps the important role of digitization, networking, and intelligence in economic and social transformation and development. Based on the advantages of cloud network integration, customer resources, and localized services, it deeply lays out strategic emerging industries, driven by cloud computing and computing power, artificial intelligence, security, digital platforms, big data, quantum, and new generation information and communication, strengthens industry capability platforms, enhances digital product and service capabilities, promotes deep integration of digital technology and the real economy, and empowers thousands of industries.

The announcement shows that China Telecom has anchored its goal and vision of building a service-oriented, technology-based, and secure enterprise, continuously and deeply implementing the cloud to digital transformation strategy, effectively promoting the "quality improvement, efficiency enhancement, and return on investment" action, safeguarding the interests of all shareholders, and establishing a good image of the capital market.

China Unicom

China Unicom achieved a revenue of 372.6 billion yuan in 2023, a year-on-year increase of 5.0%; The main business revenue was 335.2 billion yuan, a year-on-year increase of 5.0%. The total profit was 22.7 billion yuan, a year-on-year increase of 11.5%; The net profit was 8.2 billion yuan, a year-on-year increase of 12%, achieving double-digit growth for seven consecutive years. The net profit attributable to shareholders of the listed company after deducting non recurring gains and losses was 7.5 billion yuan, a year-on-year increase of 12.2%.

China Unicom adheres to strategic leadership and value orientation, always regards enhancing the investment value of listed companies as an important part of promoting high-quality development, focuses on enhancing market confidence, enhancing value recognition, and continuously increasing shareholder returns.

In the past few years, China Unicom has maintained double-digit growth in per share dividends, with a growth rate far higher than the growth rate of net profit per share. The proportion of cash dividends to profits has continuously increased, and since its listing, the cumulative total cash dividends have ranked among the top listed companies controlled by central enterprises. Next, the company will actively grasp the short-term, medium-term, and long-term development relationship, accumulate momentum for long-term stable growth, and make greater efforts to repay shareholders.

At the same time, China Unicom continues to strengthen its positive and promising investor relations. On the basis of increasing the frequency and quality of performance briefing meetings, it has actively carried out reverse roadshows of "entering listed companies" multiple times, using efficient and convenient methods such as digitalization and new media to strengthen investor communication and actively convey the long-term value of the company.

In the future, China Unicom will adhere to promoting high-quality development and "increasing quality, efficiency, and returns", focusing on enhancing core functions, enhancing core competitiveness, and creating greater value for shareholders, customers, and society.