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In the first three quarters of 2023, the Company's operating revenue amounted to RMB 281,693 million, up by 6.7% year-on-year. Service revenue amounted to RMB 252,520 million, up by 5.4% year-on-year. The profit attributable to equity shareholders of the Company amounted to RMB 17,246 million, up by 10.1% year-on-year. The revenue structure was continuously optimised, and Industry Internet revenue amounted to RMB 60,686 million, accounting for 24.0% of the service revenue, up by 1.8 percentage points year-on-year. EBITDA amounted to RMB 78,819 million, up by 2.7% year-on-year.
In the first three quarters of 2023, the Company adhered to the coordinated development of quantity, quality, structure and efficiency, continuously deepening business integration, market convergence, and capabilities integration. The stabilising effect of basic businesses has become more prominent. The mobile subscriber scale reached 332 million, with a net increase of 9.67 million, driving the Company's mobile service revenue to reach RMB 130,697 million, up by 2.6% year-on-year. The mobile ARPU reached RMB 44.3. The fixed-line broadband subscriber scale reached 111 million, with a net increase of over 7.83 million. The broadband access and application revenue increased by 8.7% year-on-year to RMB 46,042 million. The blended broadband ARPU reached RMB 47.9. Subscriber value was on a steadily rising trend.
In the first three quarters of 2023, the Company seized the key opportunities brought by the digital transformation of the economy and society, and focused on promoting technological innovation, industrial empowerment, and ecosystem co-construction. Innovative businesses such as Unicom Cloud, IoT, Big Data, and digital applications have flourished, providing new momentum for the digital economy. The Company continued to enrich cloud resource reserves, comprehensively meeting customers' cloudification needs in various scenarios. It supported digital government and smart city construction, and actively participated in the digital transformation of central state-owned enterprises. "Unicom Cloud" maintained good growth, and achieved revenue of RMB 36.70 billion, up by 36.6% year-on-year. The Company accelerated the advancement of ubiquitous interconnection among people, devices, and things, and leveraged the Gewu platform to empower industry breakthroughs. It developed industry-specific solutions in key sectors such as industrial Internet, smart cities, and ecological environmental protection. The number of IoT terminal connections reached 467 million, driving IoT business revenue to reach RMB 7,521 million, up by 21.9% year-on-year. With a view to unleashing the value of data factors, the Company deeply penetrated sectors such as digital government, digital finance, smart tourism, industrial Internet, etc. Focusing on scenario demand, it enriched key industry applications to contribute to the construction of a digital society and the development of the real economy. Big Data business revenue reached RMB 4,067 million, up by 46.7% year-on-year. The Company continued to create new offerings in the field of digital smart living and smart home applications. The number of paying subscribers of major products of Personal Digital Smart Living and Unicom Smart Home businesses reached nearly 200 million, with a net increase of nearly 60 million. Focusing on vertical industries, the Company refined its specialised and innovative capabilities. The number of 5G virtual private network service customers reached 6,897, up by over 3,000 as compared to the end of last year.
The co-build co-share with China Telecom has been deepening. In addition to adding 150,000 5G co-build co-share base stations in the first half of 2023, the Company promoted a single 4G mid-band network, with the number of shared base stations exceeding 2 million and a sharing ratio of over 90%. We also actively promoted cross-sector co-build co-share of infrastructure such as poles and pipelines and made good progress.
The Company accelerated the construction of 5G, broadband, government and enterprise, and computing power networks, which provided a solid network foundation for the high-quality development of the Company. In the first half of 2023, the number of 5G mid-band base stations exceeded 1.15 million, with the scale and coverage on par with the industry. Our broadband networks in cities, counties and towns are fully gigabit-ready. Our government and enterprise premium network fully covered 335 local networks in the country. The Company made great efforts to build a computing power base with abundant computing power, sufficient capacity, multi-cloud synergy and computing-network integration, and built a new IDC system to comprehensively undertake the national “Eastern Data and Western Computing” project. The number of cabinets exceeded 380,000. Unicom Cloud pool covered more than 200 cities. The average backbone network latency remained leading in the industry.

In the first half of 2023, the Company’s capital expenditure reached RMB27.6 billion. The Company will further step-up investment. For the full year of 2023, capital expenditure will reach RMB76.9 billion, of which computing power network investment will account for more than 19% and grow by over 20% year-on-year, in an effort to solidify the digital base.
The Company attached great importance to shareholders’ return. After due consideration of the Company’s robust business development, the Board resolved to distribute an interim dividend of RMB0.203 per share (pre-tax) for the year 2023, up by 23% year-on-year, which is significantly higher than the 13% growth in basic earnings per share. Shareholders’ return continues to enhance.

The objective of the dividend policy of the Company is to achieve a long-term, sustainable and steadily increasing dividend, with a view to maximising the shareholders’ value. The declaration and payment of future dividends will depend upon, among other things, financial condition, business prospects, future earnings, cash flow, liquidity level and cost of capital. The Company believes such policy will provide the shareholders with a stable return in the long term along with the growth of the Company. Pursuant to the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) and the Company’s articles of association, the Company may only pay dividends out of profits available for distribution.

Last updated: 1 November 2023

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