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China Tower Reportes 4.224 Billion Yuan of Net Profit in H1

Updated:2022/8/9 17:05

China Tower garnered 45.479 billion yuan of operating revenue in the first half (H1) of this year, up 6.6 on an annual basis, according to its H1 financial report released on Aug. 8.

Its TSP business revenue amounted to 41.345 billion yuan, up 3.9% on year, with revenue from tower business, indoor DAS business, smart tower business and energy business jumping 2.3%, 32.0%, 39.4% and 61.3% from a year earlier to 38.592 billion yuan, 2.753 billion yuan, 2.584 billion yuan and 1.426 billion yuan, respectively. The tower tenancy ratio climbed from 1.70 at the end of 2021 to 1.72. Its profitability continued to improve, with EBITDA standing at 31.958 billion yuan and profit attributable to owners of the Company ticking up 22.2% annually to 4.224 billion yuan.

The report noted that China Tower will continue to expand the indoor DAS business and strive to strengthen the specialized business to establish the “second engine" for the TSP business. As for the smart tower business, the Company will push ahead with upgrading from “communications tower" to "digital tower". In regard to the energy business, the Company will focus on “using towers for electricity exchange and storage” and specializing in the business. To achieve business transformation and upgrading, the Company will set up a smart energy operating platform, which will conduce to the digitalization and smartization of the energy business.

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