China Unicom's Q3 net profit increased by 7.7% year-on-year, with revenue growing by 3.3% | Financial Report Insights

In the third quarter, China Unicom continued its strong growth momentum, with operating income of RMB 92.782 billion, a year-on-year increase of 3.3%; net profit attributable to shareholders of the listed company was RMB 2.299 billion, a year-on-year increase of 7.7%.

On October 22, China Unicom released its third-quarter financial report.

1) Key Financial Data

• Revenue: In the third quarter, operating income reached RMB 92.782 billion, a year-on-year increase of 3.3%; in the first three quarters, operating income reached RMB 290.12 billion, a year-on-year increase of 3.0%.

• Net Profit Attributable to Equity Shareholders: In the third quarter, net profit attributable to shareholders of the listed company was RMB 2.299 billion, a year-on-year increase of 7.7%; in the first three quarters, net profit attributable to shareholders of the listed company was RMB 8.338 billion, a year-on-year increase of 10%.

• EBITDA reached RMB 80.4 billion, a year-on-year increase of 2.0%.

• Profit attributable to equity holders of the company reached RMB 19.03 billion, a year-on-year increase of 10.3%, maintaining double-digit growth.

2) Key Business Performance

• The number of mobile users reached 345 million, with a net increase of 11.23 million for the year, reaching a nearly 6-year high for the same period; among them, there were 286 million 5G package users, with a 5G package penetration rate of 83%.
• The number of IoT connections reached 594 million, with a net increase of nearly 100 million; the number of fixed broadband users reached 121 million, with a net increase of 7.12 million for the year.
• In the first three quarters, Unicom Cloud revenue was RMB 43.86 billion, a year-on-year increase of 19.5%; data center business revenue was RMB 19.69 billion, a year-on-year increase of 6.8%; the cumulative number of customers served by 5G industry virtual private networks reached 14,013.

The company's announcement shows that China Unicom's computing power business is growing rapidly, with Unicom Cloud revenue reaching RMB 43.86 billion, a year-on-year increase of 19.5%; promoting the acceleration of AIDC through the intelligent transformation of data centers, data center revenue reached RMB 19.69 billion, a year-on-year increase of 6.8%.

China Unicom actively supports the new industrialization, enhances the brand influence of "Unicom 5G + Industrial Internet", and the cumulative number of customers served by 5G industry virtual private networks reached 14,013; actively building a "comprehensive security" system from safe operation to security services and ecological prosperity, with strong growth momentum in network security revenue.

Furthermore, the company continues to improve the coverage level of mobile internet, deepen cooperation and sharing, with 1.36 million 5G mid-band base stations and over 2 million 4G mid-band shared base stations; building a high-throughput, high-performance, and high-intelligence China Unicom computing power intelligent network AINet, constructing large-scale computing centers such as Shanghai Lingang and Hohhot WanKa Smart Computing Center, and comprehensively covering major computing centers from the east to the west