Full Year 2025 China Tower Corp Ltd Earnings Call (Chinese, English) Transcript
Key Points
- China Tower Corp Ltd (CHWRF) reported a robust operating performance with a net profit increase of 8.4% year-on-year.
- The company has successfully implemented a multi-pillar development structure, with revenue from the two-wing business increasing to 14.9%.
- Significant advancements in technological innovation were made, with R&D expenses increasing by 82%.
- The company maintained a strong emphasis on shareholder returns, with the full-year dividend payout ratio rising to 77%.
- The smart power business experienced rapid growth, with revenue reaching RMB10.1 billion, a year-on-year increase of 14.2%.
- EBITDA decreased by 1.1% year-on-year due to an increase in tenant withdrawal resulting from the network consolidation between China Unicom and China Telecom.
- The growth rate of the number of tenants has slowed down, with the total power tenancy ratio slightly lower than the previous year.
- CapEx expenditure decreased significantly compared to 2024, raising concerns about future infrastructure investments.
- The introduction of the one single network and termination of some tenancy agreements may lead to a downward trend in EBITDA in 2026.
- Investment in maintaining and reinforcing existing tower sites is expected to increase by 30% to 40%, impacting short-term profitability.
Good evening, everyone. Welcome to China Tower's 2025 full-year results earnings call. This is Edgar Fu, Investor Relations Director of China Tower. Let me introduce the member of management joining us today. We have Mr. Zhang Zhiyong, the Executive Director and Chairman; Mr. Chen Li, Executive Director and General Manager, and Mr. Hu Shaofeng, Chief Accountant.
Please be reminded that the results presentation can be downloaded from our IR website. I'll remind you that this call might contain forward-looking statements that involve several risks and uncertainties. Examples of these statements include. Our expectation regarding future growth, including our future outlook, capital allocation, and future operating performance, and any other statements regarding matters that are not historical facts. You should be aware that the certain factors may affect us in the future and could cause actual results to differ materially from those expressed in these forward-looking statements.
Please note that all lines have been placed on mute to
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