China Telecom's Revenue Reaches118.576 Billion Yuan in Q1

Updated:2022/4/22 14:33

On Apr. 20, China Telecom released its financial report for Q1, 2022 on HKEx. According to the report, its operating income in the period reached RMB 119.629 billion, showing an increase of 11.9% over the same period last year; profit attributable to shareholders was RMB 7.223 billion, with a year-on-year increase of 12.1%.

In Q1, the company's mobile communication service revenue reached RMB 49.014 billion, showing a year-on-year growth of 5.0%. The number of mobile users showed a net increase of 7.11 million households to 380 million households approx. The number of 5G plan users showed a net increase of 22.95 million households, reaching 211 million approx., the penetration rate arriving at 55.5%. ARPU of mobile users was RMB 45.1.

As for fixed line and smart home services, the revenue reached RMB 29.645 billion, showing a year-on-year growth of 4.9%. The number of wired broadband users reached 173 million households. Smart home income increased by 22.5% year-on-year, driving broadband comprehensive ARPU to RMB 46.7. The value contribution of the smart home continues to increase.

The report also indicates the net financial cost of the company at RMB 195 million during the period, down by 64.2% compared to the same period last year. The main reason is that (i) the company's business performance and cash flow were in good condition; (ii) the issuance of A-shares effectively meet the capital needs of key investment projects; (iii) the scale of interest-bearing liabilities was effectively reduced.

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