China Unicom's 2024 Interim Results Revenue, Profits, and Business Updates

TapTechNews August 15th news, China Unicom today released its 2024 interim results in the Hong Kong Stock Exchange. In the first half of the year, the operating income was 197.3 billion Chinese yuan, an increase of 2.9% year-on-year; EBITDA (earnings before interest, taxes, depreciation and amortization) reached 55 billion Chinese yuan, an increase of 2.7% year-on-year; The profit attributable to equity holders of the company reached 13.8 billion Chinese yuan, an increase of 11.3% year-on-year.

China Unicom's capital expenditure in the first half of 2024 was 23.9 billion Chinese yuan, a decrease of 13.4% year-on-year. The board of directors decided to distribute an interim dividend of 0.2481 Chinese yuan per share (before tax), an increase of 22.2% year-on-year. TapTechNews attaches the performance table as follows:

In the first half of 2024, China Unicom's Internet communication business completed an income of 125.1 billion Chinese yuan, an increase of 2.1% year-on-year.

The number of connections increased by nearly 80 million in the first half of the year, and the total scale exceeded 1 billion. Among them, The number of mobile users increased by more than 6 million, and the total number of users reached 340 million, and the net increase scale hit a new high in the same period in the past five years; the number of Internet of Things connections exceeded 560 million; the number of broadband users reached 117 million, among which the number of convergent users exceeded 80 million.

The penetration rate of 5G package users exceeded 80%, and the penetration rate of gigabit broadband users exceeded 25%; the ARPU (average revenue per user) of convergent users reached 103 Chinese yuan.

Looking forward to the whole year of 2024, China Unicom said it is confident to achieve steady growth in operating income and double-digit growth in profit, and the fixed asset investment is stable within 65 billion Chinese yuan.