China Telecom recently announced its financial results for 2024, reporting an operating revenue of 529.4 billion yuan, marking a 3.1% increase compared to the previous year. Within this, service revenue reached 482.0 billion yuan, a growth of 3.7%.
During the reporting period, China Telecom achieved a net profit of 33.01 billion yuan, representing an 8.4% increase year-on-year, with basic earnings per share at 0.36 yuan. The company's EBITDA stood at 140.8 billion yuan, up 2.9%. Capital expenditure decreased by 5.4% to 93.5 billion yuan, while free cash flow rose sharply by 70.7% to 22.2 billion yuan.
In 2024, China Telecom's mobile communication service revenue rose to 202.5 billion yuan, a 3.5% increase. Notably, revenue from mobile value-added and application services grew by 16.1%. The company now serves a mobile user base of 425 million, with an average revenue per user (ARPU) of 45.6 yuan.
Revenue from fixed-line and smart home services reached 125.7 billion yuan, reflecting a 2.1% increase. Within this segment, smart home service revenue surged by 16.8%, with broadband users totaling 197 million and a comprehensive broadband ARPU of 47.6 yuan.
China Telecom's revenue from industrial digitalization grew by 5.5% to 146.6 billion yuan, accounting for 30.4% of service revenue, up 0.5 percentage points year-on-year. Tianyi Cloud revenue soared by 17.1% to 113.9 billion yuan, while IDC revenue increased by 7.3% to 33.0 billion yuan. Security revenue grew by 17.2% to 16.2 billion yuan, intelligence revenue surged 195.7% to 8.9 billion yuan, and visual network revenue increased by 40.1%.
Notably, China Telecom accelerated its global cloud-network resource layout and integrated international and domestic business processes. The company actively expanded its presence in key overseas markets, with Southeast Asia, the Middle East, and Africa emerging as important growth areas for its international business. Strategic emerging businesses such as cloud, quantum, satellite, Internet of Vehicles, and visual network made breakthroughs internationally. The company's international business revenue reached 16.9 billion yuan, an increase of 15.4% year-on-year.
