China Tower reported today that its operating revenue for 2024 reached 97.772 billion yuan, marking a 4% increase from the previous year. The profit attributable to shareholders stood at 10.729 billion yuan, reflecting a 10% year-on-year growth.
The company's operator business generated a revenue of 84.119 billion yuan, reflecting a 2.4% year-on-year increase. Breaking it down further, the tower business contributed 75.689 billion yuan, up 0.9%. The Indoor Distributed Antenna System (DAS) business saw an impressive 18.1% rise, totaling 8.430 billion yuan. Revenue from the smart connections business soared by 22.4%, reaching 8.911 billion yuan, while the energy business reported a 6.2% increase, bringing in 4.477 billion yuan.
By the end of December 2024, China Tower had expanded its portfolio to 2.094 million tower sites, marking an increase of 48,000 sites compared to the end of the previous year. The number of operator tower tenants climbed to 3.544 million, up by 120,000 from the previous year. Additionally, the average number of tenants per operator tower site rose from 1.68 to 1.72, indicating enhanced levels of site sharing.
As of December 31, 2024, the number of users utilizing tower battery swapping services reached approximately 1.304 million, marking an increase of 159,000 from the end of the previous year. This growth solidifies its leadership position in the low-speed electric vehicle battery swapping market.