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China United Network Communications (600050) investor relations material
China United Network Communications Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Operating revenue for H1 2025 exceeded RMB 200.2 billion, up 1.5% year-over-year, with profit before tax rising 5.1% to RMB 17.8 billion.
Profit attributable to equity shareholders reached RMB 14.48 billion, up 5.0% year-over-year; basic EPS was RMB 0.47.
Interim dividend per share increased 14.5% year-over-year to RMB 0.2841.
Strategic focus on high-quality development, technological innovation, and international expansion, with strategic emerging businesses contributing 86% of revenue.
Continued investment in AI, digital transformation, and ESG initiatives.
Financial highlights
Service revenue increased 1.5% year-over-year to RMB 178.4 billion.
EBITDA reached RMB 54.24 billion, representing 30.4% of service revenue.
Net cash flow from operating activities was RMB 29.00 billion; free cash flow was RMB 8.78 billion, up 63.1% year-over-year.
Capital expenditure was RMB 20.22 billion, down 15% year-over-year.
Liabilities-to-assets ratio improved to 43.7% as of June 2025, down 2.1pp from December 2024.
Outlook and guidance
Full-year CAPEX expected to be around RMB 55 billion.
Focus on integrated innovation, AI infrastructure, and deepening the “three integrations” strategy.
Confident in achieving full-year targets and concluding the 14th Five Year Plan with high quality.
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