【788 Earnings】China Tower earned 8.4% more last year to 11.6 billion yuan, final dividend 32.539 cents

China Tower (00788)
Last year, net profit increased by 8.4% year-on-year to 11.63 billion yuan (RMB), while EBITDA decreased by 1.1% to 65.814 billion yuan; EBITDA margin was 65.5%. The company paid a final dividend of 32.539 cents (pre-tax), with an annual dividend of 45.789 cents (pre-tax).

Last year, China Tower’s operating revenue grew by 2.7% to 100.411 billion yuan. Revenue from carrier services increased by 0.7% to 84.725 billion yuan, of which tower business revenue declined by 0.3% to 75.498 billion yuan, and indoor distributed antenna system revenue increased by 9.5% to 9.227 billion yuan. As of the end of last year, the number of tower sites was 2.149 million, an increase of 55,000 compared to the end of 2024. Carrier tenants on towers reached 3.567 million, up by 23,000 from the end of 2024. The average number of tenants per carrier tower was 1.7.

China Tower’s capital expenditure last year was 29.486 billion yuan.

Smart connection business revenue increased by 14.2% to 10.172 billion yuan, with tower-based smart connection revenue at 6.327 billion yuan, accounting for 62.2% of the smart connection segment. Energy business revenue grew by 7.5% to 4.813 billion yuan. Among these, the tower battery swapping business saw a revenue increase of 21.2% to 3.029 billion yuan, accounting for 62.9% of the energy business revenue.

The company maintained stable and ample cash flow, with net cash flow from operating activities of 56.116 billion yuan, up 13.4% year-on-year; capital expenditure was 29.486 billion yuan; free cash flow increased by 51.9% to 26.63 billion yuan.

Source: HKEX Announcement

Financial Hot Talk

Is the “Lobster Farming” craze over, and has the “Removal Trend” AI agency concept been played out?