China Tower's Net Profit Rises 15% Year-on-year in the First Three Quarters

Updated:2021/10/22 14:07

Recently, China Tower released its performance report for the first three quarters as of September 30, 2021. Operating income grew by 7.3% year-on-year to 64.588 billion yuan. Profit attributable to equity shareholders reached 5.256 billion yuan, up by 15.2% year-on-year.

Operator business revenue grew by 4.7% year-on-year to 60.118 billion yuan, of which revenue from tower business was 56.924 billion yuan, a year-on-year increase of 3.9% and that from indoor distributed antenna system (“indoor distributed”) was 3.194 billion yuan, a year-on-year increase of 21.3%.

Revenue from cross-industry site application and information business was 2.838 billion yuan, a year-on-year increase of 39.7%. Revenue from the energy business was 1.44 billion yuan, a year-on-year increase of 147.8%.

China Tower stated in the announcement that in the first three quarters of 2021, the company continued with the “one core and two wings” development strategy, to focus on the new characteristics of 5G construction, deepen the concept of sharing and boost development through innovation. The operator business maintained steady growth, achieving rapid development in two-wing business and stable overall operating performance. As of September 30, 2021, there were 2.038 million tower sites and 3.445 million tower tenants, a net increase of 84,000 from the end of the previous year. The average number of tower tenants is 1.69.

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