China Unicom recently released its mid-2024 performance report. During the reporting period, China Unicom achieved a revenue of 197.3 billion yuan, a year-on-year increase of 2.9%; EBITDA reached 55 billion yuan, a year-on-year increase of 2.7%. The profit attributable to equity holders of the company reached 13.8 billion yuan, a year-on-year increase of 11.3%, marking the eighth consecutive year of double-digit growth. Capital expenditures in the first half of the year were 23.9 billion yuan, a year-on-year decrease of 13.4%.
China Unicom stated that the company accelerated the expansion of its two main businesses: network communication and computing network intelligence, continuously strengthening strategic execution, and improving its revenue-generating capabilities by focusing on both quantity and quality. In the first half of the year, the company's development structure was more optimized, and development quality gradually improved, achieving service revenue of 175.7 billion yuan, a year-on-year increase of 2.7%.
Specifically, during the reporting period, China Unicom's network communication business achieved revenue of 125.1 billion yuan, a year-on-year increase of 2.1%. The number of connections steadily increased, with a net addition of nearly 80 million connections in the first half of the year, bringing the total to over 1 billion. This includes a net increase of over 6 million mobile users, bringing the total to 340 million users; the number of IoT connections exceeded 560 million; and broadband users reached 117 million, with integrated users surpassing 80 million. The penetration rate of 5G package users exceeded 80%, the penetration rate of gigabit broadband users exceeded 25%, and the ARPU of integrated users reached 103 yuan.
In the area of computing network intelligence, revenue reached 43.5 billion yuan in the first half of the year, a year-on-year increase of 6.6%.
It is worth mentioning that the international business achieved revenue of 6 billion yuan in the first half of the year, a year-on-year increase of 8.4%, mainly due to the high growth rate of outbound roaming and overseas mobile business revenue. Revenue from major products such as global intelligent networking, large bandwidth dedicated lines, Unicom Cloud, and IoT grew rapidly, particularly with a breakthrough in overseas IoT connectivity, resulting in a year-on-year revenue increase of 93.4%.