On August 12, China Unicom released its 2025 interim financial report.
At the earnings conference, Miao Shouye, Senior Vice President of China Unicom, stated that the company adheres to the principles of "prudence, precision, and moderation" in capital expenditure, ensuring that investment aligns with strategic goals and business growth trends. The company avoids impulsive expansion as well as excessive conservatism, continuously optimizing its investment structure to enhance efficiency.
In recent years, China Unicom has gradually shifted its investment focus from traditional connectivity, such as mobile and broadband, to computing-network-digital intelligence sectors like IDC and cloud services. After peaking in 2022, capital expenditure has declined year-on-year, with drops exceeding 10% in both 2024 and 2025. Fixed-asset investment for 2025 is projected at around 55 billion yuan.
Miao Shouye anticipates that China Unicom's capital expenditure will remain relatively stable over the next two to three years, with the rate of decline narrowing. In response to advancements in AI and 6G, the company will adjust investment scale and timing as needed, prioritizing structural optimization and targeted deployment to meet development demands while ensuring sufficient investment support.