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China Telecom Corporation (728) investor relations material
China Telecom Corporation H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Operating revenues for H1 2026 were RMB 260.5 billion, with principal business revenue at RMB 244.1 billion, reflecting a stable or slightly declining trend year-over-year due to industry shifts and VAT adjustments.
Intelligence Business revenue rose 7.1% year-over-year to RMB 31.1 billion, accounting for 12.8% of principal business revenue.
Net profit attributable to equity holders was RMB 19.6 billion, with basic EPS of RMB 0.21, down from RMB 23.0 billion and RMB 0.25 year-over-year.
Free cash flow surged 121.3% year-over-year to RMB 28.9 billion.
Continued focus on AI, cloudification, and digital transformation, with significant R&D and infrastructure investments.
Financial highlights
EBITDA for H1 2026 was RMB 74.4 billion, down from RMB 80.6 billion in H1 2025.
Operating expenses decreased 2.2% year-over-year to RMB 237.5 billion.
Capital expenditure was RMB 32.4 billion, down 5.2% year-over-year.
Total assets increased 1.6% to RMB 884.7 billion; debt-to-asset ratio improved to 45.8%.
Interim dividend per share set at RMB 0.1606, with a payout ratio of 75%, totaling RMB 14.7 billion.
Outlook and guidance
2026 development goals target net profit growth surpassing revenue growth and intelligence revenue to exceed 20% of principal business revenue.
Continued implementation of “Cloudification, Digital Transformation and AI for Good” strategy, focusing on intelligent cloud, AI+ initiatives, and digital infrastructure.
Emphasis on high-quality development, sci-tech innovation, and corporate governance reforms.
- Net profit rose 8.2% to RMB21.8 billion, driven by strong digitalisation and cloud growth.728
H1 2024 - Stable revenue and profit growth, strong AI and cloud focus, and a 75% dividend payout.728
H2 2025 - Net profit rose 5.5% to RMB23.0B, with rapid growth in cloud, AI, and quantum revenues.728
H1 2025 - Net profit up 8.4% to RMB33.0B, with cloud revenue up 17.1% and dividend payout at 72%.728
H2 2024
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Next China Telecom Corporation earnings date
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