China Telecom looks to collaborate on 5G

Business | Tereza Cai 23 Aug 2019

China Telecom's(0728) interim net profit rose 2.5 percent from a year ago to 13.9 billion yuan (HK$15.4 billion), and no interim dividend was declared.

The company is considering collaborating with China Unicom (0762) in 5G construction to reduce costs, expecting 40,000 5G bases will be completed by the end of this year, said chairman and chief executive Ke Ruiwen.

It kept the full-year capital expenditure target unchanged at 78 billion yuan, with 35 billion yuan for the first half, Ke said, adding that 9 billion yuan will be for the 5G bases.

Basic earning per share was steady at 0.172 yuan. Earnings before interest, taxes, depreciation and amortization rose 13.3 percent from a year ago to 63.29 billion yuan.Operating revenue fell 1.32 percent to 190.49 billion yuan, mainly hit by a 46 percent decrease in sales of goods, while service revenue was up by 2.8 percent to 182.59 billion yuan.

Executive vice president Wang Guoquan did not disclose the specific timetable for the launch of 5G services. He said the telecom industry saw the average revenue per user falling in the first half.

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