China Tower Corporation (788) Q3 2026 earnings summary

Executive summary

• 9M 2026 revenue was RMB71,999 million, down 3.1% YoY; profit attributable to owners rose 24.2% to RMB10,817 million.

• Growth in Smart Tower and Energy revenue offset part of the decline in TSP revenue; Two Wings’ share of revenue increased to 16.3% from 14.2%.

Financial highlights

• Operating revenue fell 3.1% to RMB71,999 million; profit before taxation rose 24.8% to RMB14,341 million.

• EBITDA was RMB44,828 million, down 12.0% YoY; profit attributable to owners rose 24.2% to RMB10,817 million.

Outlook and guidance

• Priorities include improving resource sharing and operating efficiency while pursuing high-quality development across businesses.

• TSP plans to capture new-infrastructure and “Six Networks” opportunities, strengthen delivery and service capabilities, and meet evolving digital-intelligence needs.

• Smart Tower plans to expand digital-tower applications, low-altitude economy, edge computing and “DAS +” businesses.

• Energy priorities include optimizing battery-exchange network economics, growing backup-power solutions, and advancing base-station photovoltaics and energy storage.