China Tower recently released its 2023 performance report. The report shows that the company achieved a revenue of 94.09 billion yuan in 2023, with a year-on-year growth of 2%. It also achieved a net profit of 9.75 billion yuan, with a year-on-year growth of 11%.
The revenue from the operator business reached 82.16 billion yuan, a decrease of 1% compared to the previous year. Specifically, the revenue from tower business was 75.02 billion yuan, a decrease of 2.8%, while the revenue from indoor distribution business was 7.14 billion yuan, an increase of 22.5%.
The growth in revenue was driven by the two wings of the business. The revenue from the Smart Link business reached 7.28 billion yuan, an increase of 27.7% compared to the previous year. Among them, the revenue from the Tower Vision Link business reached 4.73 billion yuan, accounting for 64.9% of the Smart Link business revenue. The revenue from the energy business reached 4.21 billion yuan, an increase of 31.7% compared to the previous year. Among them, the revenue from the Tower Battery Swap business reached 2.07 billion yuan, accounting for 49.1% of the energy business revenue.
In addition, China Tower's capital expenditure in 2023 was 31.715 billion yuan.
In terms of specific business operations, the tower business has developed steadily. In 2023, a total of 586,000 5G base stations were built, with more than 95% of them utilizing existing resources through sharing. By the end of 2023, there were 2.046 million tower sites, a decrease of 9,000 compared to 2022. The number of tower tenants reached 3.424 million, and the average number of tenants per site increased from 1.65 in 2022 to 1.68 in 2023, indicating an increased level of sharing. The overall level of sharing increased from 1.74 to 1.79.
The two wings of the business have maintained steady growth, accounting for 12.2% of the total revenue, an increase of 2.5 percentage points compared to 2022. In terms of the Smart Link business, by the end of 2023, approximately 217,000 communication towers have been upgraded to digital towers. In the energy business, the number of Tower Battery Swap users reached 1.145 million households, an increase of 243,000 compared to 2022, further consolidating its leading position in the light electric vehicle market.