Operating

China Telecom's Net Profit Reaches 20.2 Billion Yuan in the First Half of the Year

Updated:2023/8/21 16:25

China Telecom recently released its half-year performance report. The company's operating revenue in the first half of the year was 258.7 billion yuan, a year-on-year increase of 7.7%. The net profit attributable to shareholders of the listed company was 20.2 billion yuan, a year-on-year increase of 10.2%. The net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 20.4 billion yuan, a year-on-year increase of 11.3%. The basic earnings per share were 0.22 yuan.

In the first half of the year, China Telecom continued to achieve good growth in mobile communication service revenue, reaching 101.6 billion yuan, a year-on-year increase of 2.7%. The revenue from industrial digital business maintained a rapid development trend, reaching 68.8 billion yuan, a year-on-year increase of 16.7%, accounting for 29.2% of service revenue and contributing an incremental revenue of 9.8 billion yuan.

China Telecom has increased its investment in scientific and technological innovation and research and development in key areas such as cloud computing, AI, security, quantum, platforms, and networks. R&D expenses increased by 27.2% year-on-year. The company continues to strengthen its R&D talent pool, with a 21.4% increase in the number of R&D personnel compared to the end of last year. It is also enhancing key core technology breakthroughs, accelerating the scale transformation of innovative achievements, and continuously enhancing innovation capabilities and core competitiveness. The company continues to deepen the independent research and development of AI core technologies, building the Xinghe AI algorithm platform foundation, and developing 5,500 self-developed scenario algorithms. It has upgraded and launched the Xinghe General Visual Large Model 2.0 with a parameter scale of billions, realizing the transition from vertical domain intelligence to general intelligence and from urban governance to empowering various industries. It has also released the generative semantic large model TeleChat, enhancing the key capabilities of voice and multimodal large models. Based on general training, it collaborates with partners in the industry chain to create customized industry application large models.

According to the semi-annual report, China Telecom and China Unicom jointly built and shared over 150,000 5G base stations in the first half of the year, with a total of over 1.15 million 5G base stations. The sharing of 4G mid-frequency network has been basically achieved, with over 2 million 4G base stations. The network coverage and capacity continue to improve.

 Source:C114
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