China Telecom's H1 Net Profit: CNY 13.949 Billion, Up by 0.3% YoY

Updated:2020/8/19 17:07

Lately China Telecom disclosed its 2020 interim performance. Within the report period, China Telecom realized operating revenue of CNY 193.803 billion, up 1.7% compared with the prior year; revenue from services was CNY 187.11 billion, 2.5% higher than the prior year; profit attributable to shareholders saw a Y-O-Y growth of 0.3%, amounting to CNY 13.949 billion.

China Telecom's H1 capital expenditure was CNY 43.126 billion, CNY 20.153 billion of which was spent on 5G, accounting for 46.7% of the total expenditure. Meanwhile, China Telecom indicated its plan of maintaining the current annual capital expenditure of CNY 85 billion.

In H1, China Telecom continued to work on co-building and sharing 5G networks with China Unicom. About 80,000 5G base stations have been completed and launched, adding to nearly 210,000 base stations in use. Faster building of capacity of network coverage is conducive to effectively lowering network building and operation costs.

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