Half Year 2026 China Tower Corp Ltd Earnings Call (Chinese, English) Transcript
Key Points
- Net profit increased by 30.1% year-on-year, driven by effective cost management and improved profitability.
- Revenue from the 'Two Wings' business (smart tower and energy) grew significantly, with smart tower revenue up 12.8% and energy revenue up 17.3%.
- Interim dividend increased by 44.3% year-on-year, reflecting a proactive shareholder return policy.
- Technological innovation yielded results, with granted patents up 132% and successful commercialization of products like 5G leaky coaxial cables.
- The company expanded its DAS business, with revenue up 9.2% and increased coverage in buildings and tunnels.
- Operating revenue declined by 1.8% year-on-year, primarily due to a 5% drop in TSP business revenue.
- Tower business revenue decreased by 6.7% due to customers' network optimization and simplified base station upgrades.
- Operating cash flow fell significantly by RMB21.54 billion year-on-year, leading to negative free cash flow of RMB4.52 billion.
- EBITDA decreased by 11.6% year-on-year, impacted by lease terminations and increased maintenance expenses.
- Other operating expenses rose by 41.6% year-on-year, driven by higher marketing costs, integration service costs, and bad debt provisions.
Present at today's event, we have the following management team: Mr. Zhang Zhiyong, Executive Director and Chairman of the company; Mr. Chen Li, Executive Director and General Manager of the company; Mr. Yin Wenkai, Executive Director; and our Chief Accountant, Mr. Hu Shaofeng.
Today's event will be divided into two parts. Firstly, the management team will give you a presentation on the overall operating performance of the company, and we're going to have the Q&A session. Now, first of all, I'm going to give the floor to our Chairman Mr. Zhang Zhiyong to tell you the overall performance of the company in the first half of the year of 2026.
Thank you.
Ladies and gentlemen, good afternoon. Welcome to China Tower's 2026 interim results announcement. Here, I'd like to express our gratitude to you for your long-term support and interest in China Tower.
Today's presentation will be divided into three parts. First,
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